InvestorsHub Logo

Join the InvestorsHub Community

Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.

Live Updating
profile icon
everett7 Free
04/22/08 5:00 PM
profile icon
MARINO Free
04/22/08 2:38 PM
profile icon
everett7 Free
04/21/08 4:22 PM
profile icon
MARINO Free
04/19/08 2:33 PM
profile icon
MARINO Free
04/18/08 7:06 PM
profile icon
everett7 Free
04/18/08 5:29 PM
profile icon
MARINO Free
04/18/08 4:03 PM
profile icon
maddogs Free
04/18/08 8:37 AM
profile icon
everett7 Free
04/17/08 9:24 PM
profile icon
maddogs Free
04/17/08 4:19 PM
profile icon
everett7 Free
04/17/08 4:09 PM
profile icon
everett7 Free
04/16/08 6:34 PM
profile icon
MARINO Free
04/16/08 4:14 PM
profile icon
drluck Terminated
04/15/08 8:55 PM
profile icon
moneycane Free
04/14/08 9:01 PM
profile icon
PremierStocks Terminated
04/14/08 8:06 PM
profile icon
hinchback Free
04/14/08 7:52 PM
profile icon
hinchback Free
04/14/08 7:46 PM
profile icon
hinchback Free
04/14/08 7:39 PM
profile icon
everett7 Free
04/14/08 7:22 PM
profile icon
Zorro Free
04/14/08 7:21 PM
profile icon
hinchback Free
04/14/08 7:18 PM
profile icon
hinchback Free
04/14/08 7:16 PM
profile icon
everett7 Free
04/14/08 7:09 PM
profile icon
Zorro Free
04/14/08 6:35 PM
profile icon
hinchback Free
04/14/08 6:31 PM
profile icon
drluck Terminated
04/14/08 6:07 PM
profile icon
drluck Terminated
04/14/08 5:57 PM
profile icon
Zorro Free
04/14/08 5:44 PM
profile icon
hinchback Free
04/14/08 4:50 PM
profile icon
drluck Terminated
04/14/08 11:49 AM
profile icon
drluck Terminated
04/14/08 10:53 AM
profile icon
Zorro Free
04/14/08 10:14 AM
profile icon
Zorro Free
04/14/08 10:10 AM
profile icon
hinchback Free
04/14/08 10:04 AM
profile icon
Zorro Free
04/14/08 10:03 AM
profile icon
drluck Terminated
04/14/08 10:02 AM
profile icon
Zorro Free
04/14/08 1:03 AM
profile icon
drluck Terminated
04/14/08 12:58 AM
profile icon
MARINO Free
04/14/08 12:27 AM
profile icon
hinchback Free
04/13/08 11:28 PM

JOURNAL REGISTER CO(NYSE: JRC) (JRC) RSS Feed

Followers
1
Posters
8
Posts (Today)
0
Posts (Total)
68
Created
04/11/08
Type
Free
Moderators
Journal Register Co. said Monday that it has hired investment bank Lazard Freres & Co. LLC to help it evaluate strategic options. Shares closed down 58 percent at 22 cents per share. The newspaper publisher, whose papers include the Daily Local of West Chester, Pa., and the Times Herald of Norristown, Pa., has been hurt, like other newspaper publishers, by a shift in advertising from newspapers to the Web. It has been hit particularly hard in Michigan, where the automobile industry's woes have been a drag on the economy and advertising. Citing writedowns at its Michigan newspaper group Journal Register recently reported a fourth quarter loss of $148.4 million. Last week, the Yardley, Pa.-based company (NYSE:JRC) said its stock is in danger of being delisted by the New York Stock Exchange because it has been trading at below $1 a share. In a brief statement announcing the hiring of Lazard Freres, the company sounded a positive note. It said company officials are "concerned about the state of the overall economy and the environment for print advertising." But Journal Register had $90 million in earnings last year before interest, taxes, depreciation and amortization, "well in excess of our $38.5 million interest expense," it said. The company also said it "reduced debt by $105 million during 2007 and [has] no scheduled principal payments due until the second quarter of 2009." Journal Register Company is a leading U.S. media company. Journal Register Company owns 22 daily newspapers and 310 non-daily publications. Journal Register Company currently operates 229 individual Web sites that are affiliated with the Company's daily newspapers, non-daily publications and its network of employment Web sites. These Web sites can be accessed at www.JournalRegister.com. All of the Company's operations are strategically clustered in six geographic areas: Greater Philadelphia; Michigan; Connecticut; Greater Cleveland; and the Capital-Saratoga and Mid-Hudson regions of New York. The Company owns JobsInTheUS, a network of 20 employment Web sites. Strategically positioned within six major metropolitan areas, Journal Register Company newspapers circulate to over 550,000 daily, 575,000 Sunday, and over 6 million through weekly and other non-daily publications. JRC products combine to reach nearly 7 million readers each week. Communities reached by JRC publications tend to be upscale - indexing well above U.S. averages. Distribution Area Demographics Households : 5.1 million Population: 13.3 million Average Household Income: $75,738 (15% above U.S. average of $65,849) Median Household Income: $58,413 (19% above U.S. average of $48,775) Median Household EBI: $46,556 (14% above U.S. average of $40,840) Percent With College Degree: 28% Journal Register Company Hires Lazard Freres as Its Financial Advisor Journal Register Company (NYSE: JRC) announced today that it hired Lazard Freres & Co. LLC as its financial advisor. James W. Hall, Chairman & Chief Executive Officer, stated, "Lazard Freres will help us evaluate our strategic options. While we are concerned about the state of the overall economy and the environment for print advertising, we generated $90.3 million of EBITDA in 2007, well in excess of our $38.5 million interest expense, reduced debt by $105 million during 2007 and have no scheduled principal payments due until the second quarter of 2009." The Company has no debt for money borrowed except under its amended and restated credit agreement with JPMorgan Chase Bank, N.A., as administrative agent., --------------------------------------------------------------- http://www.lazard.com/ Lazard, one of the world's preeminent financial advisory and asset management firms, operates from 39 cities across 21 countries in North America, Europe, Australia, Asia and South America. With origins dating back to 1848, the firm provides advice on mergers and acquisitions, restructuring and capital raising, as well as asset management services, to corporations, partnerships, institutions, governments and individuals. Lazard recently acquired Carnegie Wylie, Australia's leading independent financial advisory firm. Click here to visit Lazard Carnegie Wylie's website. On August 13, 2007, Lazard acquired Goldsmith Agio Helms, a U.S.-based middle market investment bank. Click here to visit the Goldsmith Agio Helms website --------------------------------------------------------------------- TOP INSTITUTIONAL HOLDERS
Volume:
Day Range:
Last Trade Time:
  • 1D
  • 1M
  • 3M
  • 6M
  • 1Y
  • 5Y
JRC Latest News
  • No Recent News Available for this company!
New Post