Newspaper stocks post solid gains

Several newspaper stocks posted solid gains Thursday, led by Gannett, which rose nearly 40%, according to Editor & Publisher.

Some of the optimism may have been stoked by the disclosure in a Securities and Exchange Commission filing that Chicago-based Ariel Capital Management had bulked up its stake in Gannett to 12.5% of outstanding shares from 4.8% at the end of 2008. Ariel-affiliated mutual funds reported last Dec. 31 that they held an additional total stake of about 7.25%.

The New York Times‘ stock rose 58 cents, or just under 12 percent, and shares of McClatchy Co. and Tribune Co. were up as well.

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