Tribune stock has fallen below the thirty dollar mark this morning with 1,342,420 shares traded. At 9:00 a.m. the stock was at $29.67, a loss of 45 cents so far this morning.
With the announcement two weeks away of what direction the company will take, it sounds like the company will be refinancing to buy itself.
Rumors from Tribune West has stated all layoffs have been put on hold for the remainder of March.
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Jim Cramer warns TRB shareholders 6-Mar-07 08:06 am
The Gannett revenue warning is sending 'chills' thru the industry . Cramer is suggesting "its worse than I thought-If Gannett is suffering then there is no place to hide in industry"
This morning is a cool, dry and realistic wakeup call to all TRB shareholders ---take what you can get and run.
Falkrik is suggesting an $8 spin off tab on TV ---where will Publishing end up when this is all over $15-17 ?
Maybe
If your long, look for a way out over the next month or two --particularly long term holders who are employees.
Staff reductions will continue...stock price will fall ...
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