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View Moses Li's Comments
Lee Enterprises' Shares May Double Again
Hi, thanks for the article. I understand the quantitative aspects of LEE's performance and how it should be valued higher. But can one argue that the market is discounting newspaper stocks in general because of the extreme uncertainty? In that case, the discount would be absolutely valid because it counters LEE's financial strength.
In addition, I think that local media have a news monopoly as opposed to larger ones. For example, if Reuters put an online payment system, readers would simply switch to Bloomberg or something similar. But local news readers have no luxury and would probably have to pay a company like LEE. However, with the rise of technology, how long before "local news" and their weak barrier to entry gets destroyed? It's not too hard for a news company to offer news for free on the net and collect advertising in a local area, and in that case, any "payment local news" would be crushed sooner than later.
Any comment? Thanks.
Aug 24 12:49 PM
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