I jumped back in after a few days of huge volume spikes, thinking that maybe it was in play. Haven't seen much since, and fell asleep on this barely following it. I didnt yet read the release but imagine its more of the same, ad revenue in print down, slight improvement in digital.
But the caveat here in this digital growth is it is NOT organic, merely top line collections for passing off ads on Google, Yahoo Bing. The search engine brokerage business is where they are growing, and they get only a commission on that.
I am holding here, not worried about the financial demise immediately, hoping some billionaire will step up and take it out at $5.25 per share. I know, it's a pipe dream, but ya gotta believe in something.
So, Tim, are you still holding or did you sell everything prior to today? I bought a few K shares a few months ago and expected the share price to pop to $5.25, short term. In the long run, Pruitt's decision to buy KRI and load this company up with a stupendous amount of debt was always going to be the final straw. I have felt that way for years and basically just traded this one since 2009, knowing that the end would eventually come.
The biggest problem with the new Impress Local program is it is 4-5 years too late. Building big elaborate websites in this day and age of 65% mobile searches makes no sense. As for SEM programs, MNI is now a broker, selling $1000 worth of online advertising and keeping 20%, at most, gross. Thats why Google is trading at over $1,000 and MNI is at $3. Most media companies doing any internet sales end up buying Google, yahoo, and Bing for their clients, and only keeping a small amount of the revenue. It's a shell game. and Google holds all the cards.
Trust me on this, been doing it for years. It's smoke and mirrors for any media company talking about how well their internet sales are going, all we are doing is making Google, yahoo and Bing A LOT of money.
I am holding MNI for now, but glad to be a proud owner of GOOGLE stock for more than 7 years.