Not so fast, Meredith Corp. Three weeks after the magazine publisher and TV station owner Media General Inc. announced a $2.4 billion merger, Nexstar Broadcasting Group Inc. has swooped in with an unsolicited offer for Media General. Nexstar's proposal sweetens the deal for Media General shareholders: a $4.1 billion cash, stock and debt deal. Nexstar chairman and CEO Perry Sook is offering $14.50 a share for the company, a 30 percent premium over Media General's closing price on Friday. "The transaction we are proposing would be a transformational event for both Nexstar and Media General shareholders and would deliver superior, immediate and long-term value to Media General's shareholders compared with Media General's proposed acquisition of Meredith," said Sook in a statement. "Our proposal would also enable Nexstar and Media General shareholders to participate in the near- and long-term upside of a pure-play broadcasting company with expanded audience reach, a more diversified portfolio, and a significantly stronger financial profile, including substantial free cash flow per share, led by a proven broadcast and digital media management team." As it looks to torpedo the Meredith/Media General deal, Nexstar noted that its proposal would allow Media General to avoid a return to publishing, as Meredith owns several magazines, including Better Homes & Gardens, Shape, Parents and Family Circle. Media General, which began as a newspaper company, sold most of its print... Continue reading at 'AdWeek'
[ AdWeek | 2015-09-28 00:00:00 UTC ]
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Amazon CEO Jeff Bezos took the stage at a large airplane hangar in Santa Monica, Calif., this morning and presented a dazzling, methodical, hourlong disquisition on the state of the technology business. He began by explaining why most of the iPad’s competitors have failed: “They’re gadgets,” he... Continue reading at Slate
[ Slate | 2012-09-07 00:00:00 UTC ]
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Debt-laden broadcaster Nine Entertainment confirms the sale of its magazine portfolio to the privately owned Bauer Media Group. Continue reading at The Sydney Morning Herald
[ The Sydney Morning Herald | 2012-09-05 00:00:00 UTC ]
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After the acquisition of San Antonio, Austin Monthly and Austin Monthly Home, Hadley Capital, a private equity firm specializing in acquisitions, leveraged buyouts, management buyouts, recapitalizations and add-on acquisitions, among other things, founded Open Sky Media in March 2011. Continue reading at Folio Magazine
[ Folio Magazine | 2012-09-04 00:00:00 UTC ]
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In a new study produced by the MPA, the Association of Magazine Media, and research firm GfK MRI, data reveals that Millennial magazine media readers aged 18 to 34 believe that technology has improved their experience of accessing various media—including magazines. Continue reading at Folio Magazine
[ Folio Magazine | 2012-08-27 00:00:00 UTC ]
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The newspaper business’s reliance on the industrial machine of printing and distributing is often understated. It’s a delicate ecosystem that can have a real effect on publisher margins – as the fluctuation in newsprint ... Continue reading at Editor & Publisher
[ Editor & Publisher | 2012-08-24 00:00:00 UTC ]
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The New York Times Co. named former BBC director general Mark Thompson as its new CEO earlier this week, and now comes word that he will receive a pay package totaling as much as $10.5 million, including an annual salary of $1 million, according to Bloomberg News. Mr. Thompson, who was... Continue reading at Crains New York
[ Crains New York | 2012-08-18 00:00:00 UTC ]
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Got an email from a “fan” outraged that a novel I’ve been working on for two years, six days a week is $13 in ebook. Enjoy your $4 coffee. – Author Brent Weeks, via Twitter Continue reading at AllThingsD
[ AllThingsD | 2012-08-13 00:00:00 UTC ]
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Ingram Content Group has announced a new “standard color” pricing model for print-on-demand technology that has reduced costs by roughly two-thirds, making color POD an economical publishing option for the first time. Continue reading at Publishers Weekly
[ Publishers Weekly | 2012-08-09 00:00:00 UTC ]
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Rupert Murdoch's News Corp has swung to a loss partly due to the weakness of its publishing business, which includes newspapers like the Times and the Sun. The fourth quarter net loss was $1.6bn (£1bn) compared with a net income of $6 ... Continue reading at Editor & Publisher
[ Editor & Publisher | 2012-08-08 00:00:00 UTC ]
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Social media is young and its impact on news publishing is still unfolding. It’s unlikely that sharing and commenting will be the only major trends to emerge from the social revolution. News publishers, already beset by extraordinary change ... Continue reading at Editor & Publisher
[ Editor & Publisher | 2012-07-30 00:00:00 UTC ]
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Legend Press and Bloomsbury both have two books on the £30,000 University of Wales Dylan... Continue reading at The Bookseller
[ The Bookseller | 2012-07-30 00:00:00 UTC ]
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As print continues to decline and digital often struggles to live up to the hype, events are offering higher profits than print and, for many publishers, far higher revenues than digital. Luxury consumer magazine and media company Dwell, however, is leveraging all of these different groups and... Continue reading at Folio Magazine
[ Folio Magazine | 2012-07-26 00:00:00 UTC ]
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The editor of Newsweek Daily Beast wrote to reassure staff members after comments by Barry Diller about the future of a print version of the magazine. Continue reading at The New York Times
[ The New York Times | 2012-07-26 00:00:00 UTC ]
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News updates all day from Fast Company.Amazon is getting ready to introduce new tablets, Staples' president of U.S. retail, Demos Parneros, told Reuters Monday.Parneros said the online retailer will introduce five or six new tablet SKUs, or stock-keeping units, including those for a 10-inch... Continue reading at Fast Company
[ Fast Company | 2012-07-23 00:00:00 UTC ]
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Total book sales fell 2.5% in 2011, to $27.2 billion, according to the latest figures released by BookStats. Revenue was down in three of the four major segments measured by BookStats—k–12, higher education, and professional/scholarly—and up slightly in trade. Continue reading at Publishers Weekly
[ Publishers Weekly | 2012-07-20 00:00:00 UTC ]
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The publisher has bought a Bloomington, Ind.-based company called Author Solutions, which so far has attracted 150,000 authors releasing their own books. Continue reading at The New York Times
[ The New York Times | 2012-07-19 00:00:00 UTC ]
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The ebook format became the most popular one for adult fiction in 2011, surpassing hardcover books and paperbacks, according to an annual survey. Net revenue from ebook sales over all more than doubled from 2010. Continue reading at The New York Times
[ The New York Times | 2012-07-18 00:00:00 UTC ]
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Chen Guangcheng, whose nighttime escape and conflict with the Chinese government led to a diplomatic crisis for the United States last spring, is writing a memoir to be published next year. Continue reading at The New York Times
[ The New York Times | 2012-07-18 00:00:00 UTC ]
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Bloomsbury has appointed Kathleen Farrar to the role of Bloomsbury Group sales and marketing... Continue reading at The Bookseller
[ The Bookseller | 2012-07-16 00:00:00 UTC ]
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The sale to Buzzmedia, a portfolio of music and celebrity Web sites, calls into question Spin's future as a print publication. Continue reading at The New York Times
[ The New York Times | 2012-07-10 00:00:00 UTC ]
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