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Publishers See Rise In Stock Prices

  • Folio:, Wednesday, April 7, 2010 12:23 AM
Even though the economy is still iffy, there have been positive movements -- including a significant uptick in the value of publishing companies stock now versus the same time last year. For example, Time Warner, parent of mega consumer publisher Time Inc., saw its stock price hit $31.89 by 10 a.m. Tuesday, up nearly 54% from a low of $20.71 over the last 52 weeks. Martha Stewart Living Omnimedia's stock price reached $5.41, which is slightly more than double its 52-week low of $2.66. Another dramatic gain comes from Meredith Corp. Its stock price just hit $35.05, a 98% spike over its 52-week low of $17.70.

Seth Alpert, partner and managing director at AdMedia Partners, attributes the rise to the fact "investors simply viewed these companies too negatively a year ago." As market confidence grow, and to some extent revenue and profits have improved, so have their share prices, he notes. There has also been a significant reduction in cost restructures.

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