Romenesko

Associated Press
Private Capital Management disclosed in an SEC filing that it still holds large stakes in newspaper companies but that the size of those holdings decreased over the last three months of 2006. Seth Sutel reports PCM reduced the size of its Gannett holdings by 32% to 7.4 million shares, or about 3% of the company. It also owned about 9% fewer shares of Belo. PCM's holdings of Lee Enterprises declined about 17%, its holdings of New York Times Co. fell about 20%, and its McClatchy holdings fell about 14%.