Register parent company nears bankruptcy
The Journal Register Company, the parent corporation that owns The New Haven Register, has retained investment bank Lazard to assist in a possible restructuring of the company, The New York Times reported Saturday.
Financial difficulties at the Journal Register may soon force the company to be delisted from the New York Stock Exchange if its share price does not rebound from a current record low.
Over the past year, the company’s stock has fallen from $6.48 to $0.52 a share, bringing it into conflict with NYSE standards that require common stock trade at a minimum average...
Oh its a painful news. The Journal Register owns and operates 22 daily newspapers, 310 non-daily periodicals, and 229 related web sites. Its news properties are concentrated on the east coast and upper Midwest.In fact, during the half-century from 1950-2000, the newspaper industry recorded losses in ad revenue only five times. So it may be hard to survive the situation.