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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Rupert Murdoch, the chairman and chief executive, confirmed Thursday that the company was spinning off its publishing division. He defended his newspaper assets, vowing to "unleash their real potential.'' Continue reading at The New York Times
[ The New York Times | 2012-06-28 00:00:00 UTC ]
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News Corp. is considering a breakup that would put its 20th Century Fox film studio, Fox broadcast network and Fox News Channel in one company and its newspapers and book publishing assets in another.News Corp. is contemplating what once was unthinkable — splitting its entertainment and... Continue reading at Los Angeles Times
[ Los Angeles Times | 2012-06-27 00:00:00 UTC ]
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HONG KONG — The Australian mining billionaire Georgina Rinehart has threatened to sell her recently acquired 19 percent stake in Fairfax Media, sending shares in the Australian publisher tumbling on Tuesday. The announcement is the latest ... Continue reading at Editor & Publisher
[ Editor & Publisher | 2012-06-26 00:00:00 UTC ]
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According to a new study by the Pew Research Center, 62 percent of respondents didn't know whether or not their local library had ebooks. Continue reading at The Christian Science Monitor
[ The Christian Science Monitor | 2012-06-23 00:00:00 UTC ]
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Thirteen novels, including "The Good Earth,'' which won the Pulitzer Prize in 1932, will be published in ebook format by Open Road Integrated Media. Continue reading at The New York Times
[ The New York Times | 2012-06-18 00:00:00 UTC ]
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Germans, grab your reading glasses, for it's today that Google is announcing the arrival of Play Books -- complete with the ability to purchase native language texts -- in the land of the Kant and Goethe. Yes, those in Deutschland may now buy and read titles from Google Play Books on their... Continue reading at Engadget
[ Engadget | 2012-06-15 00:00:00 UTC ]
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Thomas Pynchon, author of “Gravity’s Rainbow” and “The Crying of Lot 49,” characteristically declined to speak about his decision. Continue reading at The New York Times
[ The New York Times | 2012-06-13 00:00:00 UTC ]
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The bookseller also said that Justice officials did not take the company's objections seriously before the settlement, that they were only "checking the box." Continue reading at The New York Times
[ The New York Times | 2012-06-07 00:00:00 UTC ]
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Heavy hitters across several industries have tried to find the perfect balance between the old and the new to breathe some life into what's been described as a dying medium. Layar "wants to make the world clickable" with its augmented reality software and doesn't plan on letting paper-based... Continue reading at Engadget
[ Engadget | 2012-06-06 00:00:00 UTC ]
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The Authors Guild is encouraging its 8,500 members to submit comments against the proposed settlement between the Department of Justice and three large publishers. The settlement, the guild argues, will only benefit Amazon. Continue reading at The New York Times
[ The New York Times | 2012-06-05 00:00:00 UTC ]
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After two years, Oprah Winfrey's highly influential book club is being revived, with "Wild," by Cheryl Strayed, as the first selection. Continue reading at The New York Times
[ The New York Times | 2012-06-02 00:00:00 UTC ]
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Rielle Hunter, who had an affair with John Edwards and later gave birth to their daughter, has written a book titled "What Really Happened: John Edwards, Our Daughter and Me.'' Continue reading at The New York Times
[ The New York Times | 2012-06-02 00:00:00 UTC ]
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Random House Children's Publishers UK and Transworld Publishers have appointed Total Media to handle their online media planning and buying. Continue reading at Media Week
[ Media Week | 2012-05-28 00:00:00 UTC ]
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Hutchinson senior editor Sarah Norman has made her first acquisition since joining the... Continue reading at The Bookseller
[ The Bookseller | 2012-05-25 00:00:00 UTC ]
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The Huffington Post is expanding the way it works with brands in an effort to cash in on the popular brand-as-publisher trend, Ad Age has learned. The company, part of AOL, has been talking to ad agencies and marketers about helping them build websites for brands and subsequently aiding in... Continue reading at Crains New York
[ Crains New York | 2012-05-23 00:00:00 UTC ]
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When Google gave up on its One Pass paid content system last month, RR Donnelley’s Press+ strengthened its standing as the paid content platform of choice for a growing number of news publishers. However, with audience revenue models evolvi ... Continue reading at Editor & Publisher
[ Editor & Publisher | 2012-05-23 00:00:00 UTC ]
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Rachael Ray's "The Book of Burgers" could just be this year's burger bible. Here, the Food Network star shares tips on planning a burger bash and what she'd serve at a White House cookout. Continue reading at Publishers Weekly
[ Publishers Weekly | 2012-05-21 00:00:00 UTC ]
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The Booksellers Association's chief executive Tim Godfray has said Kobo, Anobii and Hive will... Continue reading at The Bookseller
[ The Bookseller | 2012-05-21 00:00:00 UTC ]
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Two months after obtaining a majority stake in the magazine, Chris Hughes, a co-founder of Facebook, is bringing back Franklin Foer as part of an ambitious plan to remake the magazine. Continue reading at The New York Times
[ The New York Times | 2012-05-21 00:00:00 UTC ]
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DALLAS, TX, May 18, 2012 – AIM Media Texas, LLC (“AIM” or the “Company”) announced today that it has reached agreement to acquire the Texas print and online newspaper publishing assets from Freedom Co ... Continue reading at Editor & Publisher
[ Editor & Publisher | 2012-05-18 00:00:00 UTC ]
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