Well, well. Seems even Morningstar is wondering out loud about MNI’s future viability. This has led to speculation that McClatchy will go the way of other media companies and be delisted by the NYSE should share price/market cap continue to fall.
I still wonder about the possibility of a non-profit white knight emerging who will essentially help the operation go private. However, the hangover of MNI’s massive debt would still have to be addressed.
This is why I still think MNI should unload careerbuilder.com and other non-news sites while they still have value and try to pay down that debt. Whoops — now we are headed into a recession and help wanted ads — electronic or no — are not exactly a growth area. Stay tuned.
