Oh, hell, I held that stock for a couple years because it paid a nice dividend and I thought it would be sold, But I sold at about 5 when the company stopped paying the dividend.
Already owned Houston and San Antonio and added Austin earlier this year.
They want to tap into moderate conservative readership.
Now that the idea is that they can achieve economies of scale by consolidating the operations of the papers. Also, perhaps they can gain some pricing power in the electronic advertising market. For example, I would guess that political campaign in Texas still buy a lot of electronic advertising and Hearst is the basically the place they now have to go.
I remember applying for that job 19 years ago.
Who even wrote the original story?
