NEW YORK (Reuters) – At least four interested parties appear to have submitted bids for Newsweek, the magazine that The Washington Post Co put up for sale on May 5.
Newsmax Media and Thane Ritchie, chief executive of Ritchie Capital Management, said they submitted bids. Private equity firm OpenGate Capital and Sidney Harman, the founder of audio equipment company Harman International Industries Inc, have expressed interest in the weekly news magazine, according to the New York Times.
NEW YORK, April 8 (Reuters) – U.S. newspaper publisher
Tribune Co said on Thursday it has agreed with creditors on a
plan that would help it exit bankruptcy protection later this
The publisher of the Chicago Tribune and Los Angeles Times,
which filed for bankruptcy protection in December 2008, said it
reached a deal with major creditors and lenders including
JPMorgan Chase & Co <JPM.N>, Angelo Gordon, Centerbridge
Partners and its Official Committee of Unsecured Creditors.
Professional New York Times haters often fixate on the company’s seeming haplessness and its namesake newspaper’s flat-footed, delayed and defensive strategies for dealing with bad news, bad press and bad times for newspapers. Today the Times said it has hired Wall Street Journal spokesman Robert Christie, a move that could change this perception.
Christie, 40, has been the public voice of The Wall Street Journal through some of its most difficult moments in recent years. The most notable of those was when News Corp Chairman Rupert Murdoch decided that it and parent company Dow Jones would look good in his media menagerie and pried it from the hands of the Bancroft family with lots and lots of money as his WD-40. Christie, who joined Dow Jones in 2003, has been a staunch defender of the Journal’s reputation not only for the Bancroft family regime, but the Murdoch one too.
NEW YORK (Reuters) – Thomson Reuters Corp <TRI.TO> <TRI.N> reported a lower quarterly profit and signaled that cutbacks by financial customers last year would continue to hurt revenue in 2010, sending its shares down 2 percent.
But the company also said net sales were positive in the fourth quarter, and it forecast a return to revenue growth in the second half of 2010. The impact of net sales on revenue is delayed because of the company’s subscription model.
Learned that News Corp’s departing flack chief Gary Ginsberg’s list of reporters he’d deal with “definitely does NOT” include Reuters.
NEW YORK (Reuters) – Editor & Publisher, chronicler of the U.S. newspaper business for more than a century, will live again after being shut down two weeks ago.
E&P, as journalists often call it, will resume publication after being sold to boating magazine publisher Duncan McIntosh, it confirmed on its website after Reuters reported the news.
NEW YORK (Reuters) – Dear newspapers: Happy holidays. Love, Wall Street.
The stocks of Gannett Co Inc and New York Times Co, two of the best-known U.S. newspaper publishers, rose on Wednesday after an influential media analyst raised his ratings and profit forecasts on the companies.
“After years of downward revenue estimate revisions, it appears as though the newspaper ad market is improving more quickly than we previously anticipated,” Wells Fargo analyst John Janedis wrote in a research note for his clients.
Take heed and rejoice, you hard-working newspaper elves. Someone on Wall Street thinks that some newspaper companies aren’t dancing quite as close to the abyss as conventional wisdom says.
Wells Fargo analyst John Janedis, never known for going too easy on newspaper stocks, raised his rating on USA Today publisher Gannett to “outperform” and his rating on The New York Times to “market perform.”
NEW YORK (Reuters) – Media: everyone worries about its survival, nobody knows how to make the Web pay, and for more people every day, it’s a first-class ticket to layoffs.
That’s the business that executives who came to the Reuters Global Media Summit this week said would be good for their children — or yours — to consider as a career.
NEW YORK, Dec 3 (Reuters) – Hedge fund Harbinger Capital
partners has cut its stake in The New York Times Co <NYT.N> yet
again, about two years after spending half a billion dollars to
become one of its largest shareholders.
Harbinger reported a 12.79 percent stake in the Times Co’s
publicly traded shares in a securities filing on Thursday. On
Nov. 19, the company reported that it owned 14.64 percent of
the Times’ shares.