The newspaper industry's turn toward "paywalls," that is, charging for online access, has been a hit with at least one important constituency: investors.
Newspaper stocks are up 50% to 80% in the past year, despite uncertainty about the long-term financial impact of digital subscription policies.
Some of that uncertainty should start to lift in coming weeks, as newspaper publishers, starting with Gannett Co. GCI +0.90% on Monday, report third-quarter earnings. The results will give the clearest idea to date of how the paywalls are working.
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