In my first piece for Investopedia, I note that stock of newspaper publishers have been doing surprisingly well even though the fundamentals for the industry remain horrible. From the story:
Indeed, the sector that every investing pundit loves to hate has been beaten to a bloody pulp over the last few years is starting to show signs of life, faint though they may be. Some investors, such as Warren Buffett see value here. Amazon founder, Jeff Bezos, the soon-to-be-owner of the Washington Post, seems to as well as does Southeastern Asset Management, a hedge fund that recently disclosed a 12% stake in the new News Corp. (NYSE:NWS), Rupert Murdoch’s print holdings such as the Wall Street Journal.
Just to be clear, I am not saying that good times are near just less godawful ones. Publishers are diversifying into faster-growing businesses such as television. Some papers such as the Wall Street Journal and the New York Times are benefiting from paywalls. The Washington Post didn’t start charging to access its website until this year, a huge blunder.