Seattle Newspaper's Value Drops 98% In 4 Years

Jay Yarow | November 26, 2008 4:33 PM

Titanic.jpgThe Seattle Times Company, publisher of the Seattle Times lost 98% of its value in the past four years.

In 2004, newspaper broker Dirks, Van Essen & Murray put the value of the company at $900 million. Two years later McClatchy purchased a 49.5% share of the paper from Knight Ridder, which valued the paper at $240 million. McClatchy has regularly written down the value of the company since and in a federal filing dated Nov. 7, it valued its 49.5% stake in the company at $7.9 million.

The Times is privately held, so these figures might prove wrong, but if you own a newspaper, or your inheritance is dependent upon a newspaper, take this as a warning, and think about selling before there is no value left.

See Also:  New York Times Cash Crunch Negative Worth

New York Times Dividend Cut Could Make Sale More Likely

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8 Comments

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jbv said:
I almost took a job in internet advertising sales with this company in 2001. They didnt "select" me and so I went out and started my own mobile business. Now I have over 50 customers who pay me every month and a very bright future. Had I been "selected" I would have been facing a difficult future to say the least. My point is...and you have heard it many times before...when one door closes another one opens....regardless of your position in life, be glad you live in a country where success is always possible....
Dan said:
So what, it's supposed to be worth just a couple million dollars? What's considered in that valuation? The land the Times sits on? It's printing presses and other assets? No, it's value isn't this low. McClatchy's looking for a tax break and is using this as a write-down to get it. I don't believe these numbers.
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