This makes no sense to me:
Over the past week, the share prices for Canadian media giant CanWest have been hammered. At the moment, it’s trading at $1 a share (it’s been as low as 95 cents today); five days ago it was about $1.47., and the 52-week high was over $8 a share.
I’ve been tracking this, and the stock has underperformed market averages every day this week.
Yet when I do a google search on the words “CanWest” “share” and “price,” the top three hits are news story from January 2007 and July 2008, and a blog post I wrote about this a couple of days ago.
Really? We have what appears to be a significant Canadian business story here, and in the general Google search category the results throw up two outdated stories and a small blog post.
When I hit the “news” tab at Google I get a single relevant story, the Globe & Mail’s piece CanWest’s woes ‘very challenging for the foreseeable future’.
It is, perhaps, not surprising that none of the CanWest-owned newspapers appear to be covering this story. What is surprising is that very few others seem to be covering it, either.
UPDATE: The business press is starting to ctach up to this story. Just after I posted this this morning, I did another Google check and found a Reuters piece, Canwest stock below C$1 as ad outlook darkens.
Tags: business, CanWest, journalism
Canwest doesn’t seem to be in a self-reflexive mood right now. No surprise that they are not writing their own obit. Besides they’ve never really been into that whole web 2.0, information for everyone ethic.
What’s surprising is the relative quietness of Torstar, Sun Media and the Globe and Mail. Perhaps the other papers aren’t too quick to gloat because of the precariousness of their own positions.