joining us now, senior equities analyst, jocelyn mckay from morning star. newspapers are dead, why are the stocks still on fire? >> i think newspapers have been diversifying away to these digital forms of content. "new york times" has had a pay wall for over a year now. gannet has done a pay wall at their regional papers and they've also been charging for online content on "usa today." so newspapers are really struggling, trying to find ways to diversify their revenue sources, away from actually print media. but they still make up a bulk of revenue, for both firms. >> you know, jocelyn, when you look at the pay walls and get away from the bigger papers like "the wall street journal" and "the new york times" and even some of the gannet papers and get to the local papers, the big question is how are those pay walls doing? >> both management teams, for both gannet and "new york times" claim that their subscriber base is growing hand over fist. and you can see this in the circulation numbers. you get the print subscription, complimentary -- you get the digital s