Why investors embraced newspapers in 2012

Part two of two parts.  The first part is here. 

While more than half of newspaper advertising has vaporized since peaking at $49.4 billion in 2o05, the share prices of five out of the nine publicly held publishers impressively outpaced the broader stock market in 2012. 

Yesterday, we looked at the winners and losers among the publishing sector in a year when the average share price of