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Media General (MEG -3.7%) takes a hit from a two-notch downgrade to Underperform at Imperial...

Media General (MEG -3.7%) takes a hit from a two-notch downgrade to Underperform at Imperial Capital Imperial Capital this morning, citing high leverage and limited free cash flow problems. The firm also lowers its price target to $3.50 from $4.00.
Comments (2)
  • Robert L E.
    , contributor
    Comments (5) | Send Message
     
    Obviously MG is making strides to improve thier company by dumping the newspapers and they really should have a decent or even above average second half to 2012 with the Olympics, the election, and Christmas. Being all broadcast, and as the Olympics are a NBC item, I see brighter things for this company in 2012. I saw share price drop somewhat after this irrelevant announcement. It might be a good idea to judge a company on what the future can hold, instead of what the past has done. Just saying.......
    20 Jun 2012, 03:59 PM Reply Like
  • Robert L E.
    , contributor
    Comments (5) | Send Message
     
    With most of the newspaper weight off of MG after June 25, I won't be surprised at a quick turnaround in the second half of the year when the Olympic/Election/Chris... revenue to thier broadcast stations isn't being offset by print losses any longer. Investors might see decent to good share price increase if they ignore the irrelevant downgrading.
    20 Jun 2012, 03:59 PM Reply Like
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