The value of 11 newspaper companies traded on the public market since
2005 dove a combined $23.7 billion in the first half of this year,
falling almost as much in six months as they had in the three prior
years put together.
Wall Street’s intensifying repudiation of the industry means that
the companies in the group have lost a cumulative $49.7 billion in
market capitalization in 3½ years, vaporizing 51% of shareholder value
since Dec. 31. 2004.
To date, the decline in newspaper shares has not had a commensurate impact on the compensation (details here) enjoyed by the chief executives of several of the affected companies.
As
you can see in the table below, Journal Register Co. and the Sun-Times
Media Group (nee Hollinger) suffered the worst losses in the 3½-year
period, respectively shedding 99.1% and 96.9% of their value.