Romenesko

Reflections of a Newsosaur
Alan Mutter says the shares of publicly held publishing stocks in the last two years lost nearly $13.5 billion in value. "Growing investor pressure has terrorized and dangerously defocused the executives of publicly held [newspaper] companies," he says. "Instead of navigating their businesses through the most difficult environment they will ever know, the executives have been forced to spend disproportionate amounts of their time on investor relations, financial engineering and ill-considered expense cuts that could imperil the long-term health of their franchises."