Gatehouse Media Under Accumulation

Originally Published in Charting the Markets October 2 8:55 AM

We looked at Gatehouse Media Inc. (GHS-NYSE) when it went public but took a pass. We are not sure what the folks at Fortress Investment see in the company, but they continue to nibble away at the stock. They claim their stake is passive, but we have never seen someone buy 42% of a publicly traded company and just sit back with their feet on the desk. The stock is trying to base down here, but we have no plans to get involved, and really hate that balance sheet. What is Fortress up to?

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