The New York Times Co. value increased the most since February of this year on the back of speculation of profit increase, leading a group of newspaper publishers with similar results, Boston.com reported Tuesday.

According to Edward Atorino, a New York-based analyst at Benchmark Co., the Times Co. will earn nine cents a share next year as profits rebound after a 2009 loss. The company surpassed all expectations when it posted significant second quarter profits after significant cost cuts at both The New York Times and the Boston Globe.
"The doomsday scenario no longer applies,'' Atorino said yesterday, according to Boston.com. "The quarter was bad, revenue was awful, but cost-cutting was remarkable. Some who thought they were going to go out of business have to buy stocks.''

Times Co. shares rose 16 percent to $7.71, its highest price since December. Gannett Co. also had significant value growth with a 12 percent gain to $6.52 a six month high. McClatchy Co., formerly forced into delisting from the NYSE, had a 19 percent gain to finish at $1.39.

The three publishers have watched their share prices decline for four straight years and have lost more than 80 percent of their value since 2004.