I do not care if Hardluck is short. His analysis may be faulty. I appreciate all on topic discussion. The factual part of your rebuttal to Hardluck was excellent, but there is no need to belittle him. I am clueless as to whether Alphabetty can become a significant revenue generator for KING. It would be nice to hear the feminine perspective on AB as women represent most of the $s for King.
Well, it could go to zero if the newspaper market continues to evaporate. Current assets ,tangible assets, those intangibles that you can identify, Career Builder stake, and assorted others total $1.351 billion. Current liabilities, long term debt, pension obligations and other financial obligations total $1.854 billion so they are under water about $500 million if you throw out goodwill as an asset (basically vapor since no one wants a newspaper nowadays). Ask yourself why bonds paying a coupon of ~9% which are a liability of MNI are yielding ~11% when you can take out a mortgage for under 4%. My answer: There is a higher default risk with MNI and the collateral isn't great. I'd like to invest in MNI if I could see evidence of a turn in their ad revenues... but I am still waiting.... and it has been the better part of a decade!!!!