Newspapers Could Be Bargains, but Few Are Buying

Who wants to buy a newspaper? No, not just today's -- the whole company. While all publicly traded newspaper companies have seen their share prices fall in the last year -- drops of 50 to 70 percent are commonplace -- some have tumbled so far that any number of bargain hunters could snap up a controlling interest, despite the credit squeeze. But they haven't. The weak economy and tight credit market have slowed buying in all sorts of media, but the drop-off is especially pronounced in newspapers. Experts say the lack of interest reflects a sharp shift in the last year toward a more pessimistic long-term view of the industry. The loss of ads has accelerated, and few expect a rebound even when the economy recovers.