Trading under 5x earnings, trading under book value. I've traded this one for a while. Sometimes I ate the bear and sometimes the bear ate me. Opened position near the close today. Why? Model is intact and we are entering an election year. How much of those candidate's warchests will be spent on radio? (additional revs and another avenue for forward earnings, there's some luster here) At dow 10920, and s&p 1149 etm bottomed and held her 5 handle. Way oversold, and my friends, ask yourself, "does this company that operates in our beloved US of A, have anything to do with Greece, or Euros?" No, only a victim of the macro effect marketwide and forced margin selling on deteriating market sessions. Imho, we are looking at a golden buying opp for a limited time only. glta.
Recessions hit old line media companies hard as advertising is cut back to save money. Newspapers have also been plumbing the depths as well. Lots of uncertainty out there and for the market as a whole the pain is not over.
I've not yet done enough DD to form a specific opinion about ETM but I will get up to speed as I'm a quick study. That said:
Market 101: Where the generals lead unethical whores will follow. ETM isn't bucking the trend. GLTY.