GateHouse Media enters penny-stock territory

GateHouse Media, owner of The Carthage Press and Neosho Daily News, has entered the "dreaded penny-stock territory," according to an article just posted on the Editor & Publisher website:

Then shares of GateHouse Media Inc. (NYSE: GHS) traded below $1, entering the dreaded penny-stock territory. By the 4 p.m. EDT end of trading, GateHouse was priced at 97 cents -- which could get the stock barred from floor trading and even de-listing if it continues to close below a buck.

By falling to less than the cost of one of its Sunday newspapers, GateHouse shares followed three other publicly traded newspaper companies whose stock can be picked up for pocket change. Wednesday afternoon, Journal Register Co. (Other OTC: JRCO.PK) closed at 14 cents; American Community Newspapers (AMEX: ANE) ended at 20 cents; and Sun-Times Media Group (OTC BB: SUTM.OB) would set you back a whopping 35 cents.