Too much information?
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We actually believe that in a world filled with way too much information--much of it inaccurate--delivered via more media and channels than any one consumer can possibly manage, the editorial skills found in the newspaper industry could prove to be very valuable. Study after study has shown that the average consumer actually doesn't like to have too many choices, which is exactly what the Internet provides. In the long run--and recent research suggests that this has already started--consumers will gravitate to a handful of trusted information sources for their news.
We suspect that newspapers like The New York Times, The Washington Post, and The Wall Street Journal will benefit from this, as will local newspaper publishers. To this end, newspaper publishers have been allocating significant amounts of capital in recent years to make their Web sites attractive destinations. They have also begun to partner with high-traffic sites like Google and Yahoo in order to drive more consumers to their news. By employing some tech-savvy and embracing new business models, newspaper publishers with strong brands and topnotch content may actually thrive in an increasingly fragmented media landscape.We also think that companies like Journal Register (NYSE:JRC - News), McClatchy (NYSE:MNI - News), and Lee Enterprises (NYSE:LEE - News) can survive and even thrive in the future.