Media Note: Freeps Owner Soaring on Wall Street | Off Message

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Thursday, September 13, 2012

Elections Media

Media Note: Freeps Owner Soaring on Wall Street

Posted By on Thu, Sep 13, 2012 at 6:52 PM

Media Note: Freeps Owner Soaring on Wall Street
Guess what local Burlington company hit its 52-week high on Wall Street this week!

Nope, not Green Mountain Coffee Roasters, though they're back up to $31.48, from a low of $17.11 in July.

The Burlington Free Press! 

Well, kind of. Its Virginia-based mothership, Gannett, reached a high of $17.46 on Tuesday — up from $8.28 a year ago. And you'll never guess what's driving the bulls on Wall Street. (Not to be confused with the bears on South Prospect Street.) 

Barrington Research Associates analyst James Goss tells Bloomberg the company's local television stations have been raking in advertising dollars thanks to Olympics coverage and the presidential race.

Sounds like all those Super PAC ads are good for someone!

"They're not just dependent on print circulation," Goss says.

In other Gannett news, the company unveiled a long-awaited redesign of its flagship paper, USA Today, on Thursday. You can read Reuters' take on the changes at USA Today here — and Gannett watchdog Jim Hopkins' take here on Gannett Blog. (If you're really bored, you can read our coverage of the Freeps' own redesign here.)

You can also watch Gannett's terrifyingly generic marketing video for USA Today's redesign here:

 

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Image: Paul Heintz

Paul Heintz

Paul Heintz was part of the Seven Days news team from 2012 to 2020. He served as political editor and wrote the "Fair Game" political column before becoming a staff writer.
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