Investing In Media For the Long Haul

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Gannett shares are sharply down from a 52-week high of $31.14, reached in May of last year, but there was reason for encouragement last week.
According to Yahoo! Finance, shares of USA Today publisher surged 39 percent Thursday after a regulatory filing showed fund manager Ariel Investments LLC more than doubled its stake in the newspaper company in the last quarter.
Shares rose $1.06 to close at $3.75, amid broad gains in the stock market and a rally in newspaper company shares.
“There’s been just so much negative sentiment across the media sector,” Ariel portfolio manager John Miller said. “What can’t be ignored are the cyclical issues. We believe advertisers will return when the economy strengthens.”
The Mclean, Va.-based media company also owns recruitment site CareerBuilder.com.

About David Burn

Co-founder and editor of AdPulp. I wrote my first ad for a political candidate when I was 17 years old. She won her race and I felt the seductive power of advertising for the first time. I worked for seven agencies in five states before launching my own practice in 2009. Today, I am head of brand strategy and creative at Bonehook in Portland, Oregon.