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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Barry O'Callaghan, the chief executive of Houghton Mifflin Harcourt, resigned on Tuesday after less than two years on the job. Continue reading at The New York Times
[ The New York Times | 2011-03-16 00:00:00 UTC ]
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After AOLs layoff of 900 staff last week (the U.S. division losing 300 members), the Huffington Post Media Group has begun hiring. Continue reading at Folio Magazine
[ Folio Magazine | 2011-03-15 00:00:00 UTC ]
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Regional publisher Greenspun Media announced it will launch Vegas Inc., a weekly business magazine for the Las Vegas market, on April 4. Vegas Inc. staff includes Greenspun business editor Richard Pereze-Feria as editor-in-chief, Spencer Holladay as art director, Dave Mondt as designer asnd Erin... Continue reading at Folio Magazine
[ Folio Magazine | 2011-03-11 00:00:00 UTC ]
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Written By: Lisa Campbell Publication Date: Thu, 10/03/2011 - 15:22 Christian book wholesaler STL Distribution is cutting a quarter of its 124-strong workforce following poor sales. The Carlisle-based company said 30 positions will be affected, with only around 5% of employees opting for... Continue reading at The Bookseller
[ The Bookseller | 2011-03-10 00:00:00 UTC ]
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Popular Science has been at the front of the pack in terms of early adoption since the start of the apps race. Continue reading at Folio Magazine
[ Folio Magazine | 2011-03-10 00:00:00 UTC ]
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Written By: Philip Stone Publication Date: Tue, 08/03/2011 - 16:01 The latest crop of £1 World Book Day books, led by Cope & Davies' Spy Dog/The Great Pet Shop Panic (Puffin/S&S) take positions one-through-six in this week's Official UK Top 50, with sales totalling 247,235 copiesa... Continue reading at The Bookseller
[ The Bookseller | 2011-03-08 00:00:00 UTC ]
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Written By: Lisa Campbell Publication Date: Mon, 07/03/2011 - 09:14 HMV Group has moved to reassure publishers of Waterstone's future, revealing the bookseller is on track to achieve its predicted 2%3% operating margin by the end of its financial year. Tuesday's [1st March] trading statement... Continue reading at The Bookseller
[ The Bookseller | 2011-03-07 00:00:00 UTC ]
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Beginning Tuesday, Random House will join other major book publishers in selling its ebooks using the so-called agency model, setting its own prices for ebooks while the retailer takes a commission. Continue reading at The New York Times
[ The New York Times | 2011-03-01 00:00:00 UTC ]
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The Hearst Corporation has launched the beta version of Manilla, a free personal account management system. George Kliavkoff has been named CEO of the service that allows consumers to securely link bank accounts, view statements, pay bills and manage subscriptions through one account. Continue reading at Folio Magazine
[ Folio Magazine | 2011-03-01 00:00:00 UTC ]
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Beginning in March, ebooks from HarperCollins may be lent by public libraries only 26 times before the license expires. Continue reading at The New York Times
[ The New York Times | 2011-02-28 00:00:00 UTC ]
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Written By: Lisa Campbell Publication Date: Fri, 25/02/2011 - 08:38 The Big Green Bookshop is appealing to 1,000 of its loyal customers to help secure its future by buying one book each. Owners Simon Key and Tim West of the indie in Wood Green, North London, have also set up an online donation... Continue reading at The Bookseller
[ The Bookseller | 2011-02-25 00:00:00 UTC ]
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Hearst Magazines Digital Media announced several changes to its roster today. Julie Hocheiser is now site director for Seventeen.com. Hocheiser served previously as the senior web editor for the Hearst Teen Network. Neha Gandhi also joined Seventeen.com as a web editor. Gandhi is the former... Continue reading at Folio Magazine
[ Folio Magazine | 2011-02-23 00:00:00 UTC ]
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Magazine publishers have a tough choice: an exclusive, pricey deal with the wildly popular Apple conduit, or Googles open, less expensive and less trafficked vehicle. Continue reading at The New York Times
[ The New York Times | 2011-02-21 00:00:00 UTC ]
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Rockville, MDB-to-b media company Access Intelligence announced today the acquisition of Red 7 Media, owner of Folio: Magazine and several other leading media brands. Continue reading at Folio Magazine
[ Folio Magazine | 2011-02-17 00:00:00 UTC ]
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Written By: Graeme Neill Publication Date: Thu, 17/02/2011 - 09:32 Adjusted operating profit at Reed Elsevier declined by 1% to £1.56bn in 2010 as the publisher spoke of "encouraging" prospects for the year ahead. Revenue was flat at £6.06bn across the whole company, although at Elsevier,... Continue reading at The Bookseller
[ The Bookseller | 2011-02-17 00:00:00 UTC ]
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Publication Date: Thu, 10/02/2011 - 08:30 The nine libraries threatened with closure on the Isle of Wight could be saved following a consulation by local civic chiefs. The nine libraries, of the 11 on the island, had been set to close as the Conservative-run council looked to save £32m over... Continue reading at The Bookseller
[ The Bookseller | 2011-02-10 00:00:00 UTC ]
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New York City-based Dorchester Media LLC is fielding offers for the assets of its Lifestyle Entertainment Teen Magazine and Romance Groups. Continue reading at Folio Magazine
[ Folio Magazine | 2011-02-09 00:00:00 UTC ]
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Expect much higher capital expense costs and much greater need for in-house digital development skill. Continue reading at Folio Magazine
[ Folio Magazine | 2011-02-05 00:00:00 UTC ]
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New York--There was a question during the morning session today at the Media Dealmakers Summit that crystallized what a lot of people are thinking about the future. "Are tablets and e-readers the future of media?" For George F. Colony, CEO of Forrester Research, the answer was simple: "Yes.... Continue reading at Folio Magazine
[ Folio Magazine | 2011-02-04 00:00:00 UTC ]
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Written By: Katie Allen Little, Brown imprint Sphere has acquired a "shocking" debut novel about the murder of a little girl. Editorial director Catherine Burke acquired UK and Commonwealth rights (excluding Canada) including audio and ebook in The Wicked Girls by Alex Marwood from Laetitia... Continue reading at The Bookseller
[ The Bookseller | 2011-02-02 00:00:00 UTC ]
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