Chicago research firm: GateHouse Media stock worthless

Editor & Publisher reports that Morningstar, a Chicago research firm says newspaper stocks are still overvalued and that GateHouse Media stock is "worthless:"

Morningstar repeated its judgment that the GateHouse Media Inc. (NYSE: GHS) is essentially worthless, assigning it a fair value of zero. Monday morning it was trading at 69 cents, down 2 cents, or 2.82%.

Gannett, owner of the Springfield News-Leader, McClatchy, owner of the Kansas City Star, and Lee, owner of the St. Louis Post-Dispatch did not fare much better in Morningstar's estimation.