DEATH'S DOOR: Yellow Media in Trouble Following Poor Earnings Report, Credit Rating Cut, and Stock Plunge

by Techvibes NewsDesk

A dime will now buy you a piece of Yellow Media.

The company's share has been sinking by several percentage points every day for a week, dipping from 19 cents to just 10 cents per share, following a slew of mounting bad news. The company, which failed to dedicate the necessary time and resources to its digital initiatives, is now saddled with nearly $2 billion in debt from its ailing print business.

Standard & Poors today cut Yellow Media's credit rating from B- to BB-, which sent the stock spiralling downward more than 9%. And only a few days ago, the company's latest financial earnings report cast a dark cloud, which also triggered a downward surge in the stock.

Only one year ago, the company's stock price was nearly $6. However, investors fled the scene after watching the company's print business decline rapidly. The damage the print business dealt to its finances disabled Yellow from smoothly transitioning to the digital space.

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Techvibes NewsDesk

Techvibes NewsDesk

Techvibes is Canada's leading technology media property.Founded in 2002, Techvibes covers technology and business news that impacts Canadians. We combine breaking local news with international coverage to deliver a unique balance of insight and information. The Techvibes Newsdesk covers a broad beat and publishes general news stories. If you have a story you would like covered, email... more

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