jboschetti

Bill Nygren on Newspaper Stocks

Sounds like capitulation. There were plenty of opportunites for him to sell the stock at a substantial profit. Down here the equity is at 8.5x ebitda with a 10% fcf yield. I wouldn't be selling the stock until i knew their plans for all that FCF... these days newpapers are rewarded for returning cash to shareholders(big dividends) and not being acquisitive. The mgmt at GCI have to understand this... just look at GHS.