This feature and its graphic did not accurately reflect the value of the assets of Scripps Networks Interactive that were spun off from the E.W. Scripps company on July 1. The combined value of the newspaper company and the spun-off company represent a decline of 40.4 percent in market value, not 98 percent.
Newspapers Left Battered and Bruised
A $250 million loan that the New York Times took last week trained a fresh spotlight on the woes in newspaperland. The devastation to the industry is apparent in the steep declines in market capitalization of major newspaper publishers in the past year. Worst hit was E.W. Scripps, operator of community newspapers and TV stations, which lost 98 percent of its value. Lee Enterprises, publisher of daily and weekly papers, was next with a 97 percent decline. McClatchy, the nation's third-largest newspaper company, lost 93 percent of its market cap.