Hefty cost cuts fueled surprise news-stock rally

Second of two parts. The first part is here. Call it heroic or barbaric. Call it strategic or suicidal. Call it whatever you want.But there can be no doubt that the chief reason for the improbable rally in newspaper stocks last year was the industry’s ability to radically shrink its cost structure.As reported here yesterday, the value of publishing shares counter-intuitively rose by an