Media: GateHouse ended well today (relatively speaking)

August 4, 2008
By Billy Dennis

GateHouse Media — which closed at 44 cents a share on Friday — opened at 60 cents, then dropped down to 40 cents. It hovered around 43 cents most of the day. Two minutes before closing, Marketwatch was telling me the stock was worth 40 cents, but at close, the stock had rallied to 50 cents a share. Which is about half of what it needs to be to avoid delisting on the NYSE.

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4 Responses to “ Media: GateHouse ended well today (relatively speaking) ”

  1. rich miller on August 4, 2008 at 5:45 pm

    Um… Hooray?

  2. BJ Stone on August 4, 2008 at 8:17 pm

    How long can a stock remain below $1 per share before it gets delisted?

  3. Josh_B on August 5, 2008 at 10:20 am

    No big surprise, Bill.

    “U.S. Stocks Advance as Oil Retreats; General Motors, AIG Climb
    By Elizabeth Stanton

    Aug. 5 (Bloomberg) — U.S. stocks climbed for the first time in four days as lower commodity prices eased concern that inflation will force the Federal Reserve to raise interest rates.”

    30 days of closes under a dollar could get GHS delisted. It isn’t just Gatehouse (look at the Journal Register Company), and it isn’t just newspapers. All media is feeling a crunch.

  4. BJ Stone on August 5, 2008 at 10:49 am

    Thanks, Josh. There is another local media outlet that has been below a dollar for quite some time now, and I was just curious.