In December, Alden Global Capital, a New York City hedge fund and media investor, confirmed, in a filing with the Securities and Exchange Commission, that it was looking to acquire Tribune Publishing, which owns the Chicago Tribune, the New York Daily News, and the Hartford Courant, as well as other local newspapers in Pennsylvania, Maryland, Virginia, and Florida. Tribune already counted Alden as its largest shareholder; Alden was offering $14.25 per share to take full control of the company. Yesterday, following weeks of wrangling, Tribune announced its intention to sell to Alden at $17.25 per share. The deal as a whole is valued at $630 million, and would take Tribune private. Alden has become notorious—and widely reviled—for its tactic of ruthlessly slashing costs at its existing media properties; in 2018, staffers at the Denver Post, where management had just moved to cut thirty jobs, assailed their owners as “vultures” in an editorial that resonated across the media industry. “Media observers note that they make cuts almost from day one. Pens and notebooks disappear from newsrooms. One newsroom was missing hot water. Then newspaper buildings are sold, and staff is consolidated and cut,” CJR’s Savannah Jacobson wrote in a profile of Alden last year. “Despite earning higher profits than is typical in the industry, the NewsGuild says that between 2012 and 2019, Alden cut 71 percent of jobs in the hedge fund’s Guild-represented newsrooms.” (In their rare public... Continue reading at 'Columbia Journalism Review'
[ Columbia Journalism Review | 2021-02-17 13:33:35 UTC ]
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A Tribune Publishing investor sued the media company's directors and Chairman Michael Ferro for spurning an $864 million buyout offer from Gannett and seeking a cash infusion from a billionaire health-care entrepreneur.Tribune's board members are seeking to unfairly entrench themselves by taking... Continue reading at Advertising Age
[ Advertising Age | 2016-06-03 00:00:00 UTC ]
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Tribune Publishing, infused with a $70.5 million investment from billionaire Patrick Soon-Shiong, rejected Gannett's latest takeover offer, escalating the battle between the newspaper publishers.Gannett's revised proposal is "clearly inadequate" to control the owner of the Los Angeles Times and... Continue reading at Advertising Age
[ Advertising Age | 2016-05-24 00:00:00 UTC ]
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Derek Jeter’s The Players’ Tribune and Budweiser are launching a content studio, which will focus on short-form videos and photos for Facebook, Instagram and other social platforms. The launch is part of a broader strategy at The Players’ Tribune to diversify its video content and grow audience... Continue reading at Digiday
[ Digiday | 2016-05-24 00:00:00 UTC ]
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For magazine publishers looking to recoup lost print dollars, live events are becoming increasingly important as independent revenue streams. Over the past several years, titles like Cosmopolitan, Sports Illustrated and Essence (to name a few) have joined live event veterans like The Atlantic... Continue reading at AdWeek
[ AdWeek | 2016-05-21 00:00:00 UTC ]
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The second-largest shareholder of Los Angeles Times owner Tribune Publishing said Wednesday that passing up a buyout offer from rival publishing company Gannett could "destroy enormous shareholder value." In a letter sent to Tribune's board and filed with the Securities and Exchange Commission,... Continue reading at Los Angeles Times
[ Los Angeles Times | 2016-05-19 00:00:00 UTC ]
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Gannett and Tribune Publishing leadership met in Chicago Thursday, but no progress was made on an unsolicited bid to buy the Chicago-based newspaper chain, according to a Securities and Exchange Commission filing.The meeting, held at the suggestion of Tribune Publishing Chairman Michael Ferro,... Continue reading at Baltimore Sun
[ Baltimore Sun | 2016-05-14 00:00:00 UTC ]
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Although Maria Semple has written two previous novels—most recently the bestselling "Where’d You Go, Bernadette," with a film adaptation in the works—the one-time TV writer ("Mad About You," "Arrested Development") says writing them never gets easier. Continue reading at Publishers Weekly
[ Publishers Weekly | 2016-05-12 00:00:00 UTC ]
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The Los Angeles Times building. The owner of the newspaper, Tribune Publishing Company, rejected an unsolicited offer from Gannett. Continue reading at The New York Times
[ The New York Times | 2016-05-05 00:00:00 UTC ]
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Journalist, who was cleared of wrongdoing in relation to leaks from Sandhurst, has a deal with Harper CollinsThe Sun’s royal editor, Duncan Larcombe, is to leave the paper more than a year after an Old Bailey trial that saw him cleared of any wrongdoing in relation to tips about Princes William... Continue reading at The Guardian
[ The Guardian | 2016-04-26 00:00:00 UTC ]
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Rupert Murdoch’s News Group Newspapers pushed to loss as value of publishing rights falls and £50m is set aside to deal with continuing cost of hacking scandalThe publisher of the Sun has recorded a loss of more than £250m after making a huge write-down and paying out further costs associated... Continue reading at The Guardian
[ The Guardian | 2016-03-23 00:00:00 UTC ]
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After three years behind a paywall, The Sun has had to flip its content strategy to win back the traffic and SEO history it's lost in the interim, to compete in the free-access world. That's meant bringing in more people experienced with digital publishing and creating a centralized team... Continue reading at Digiday
[ Digiday | 2016-03-21 00:00:00 UTC ]
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A U.S. District Court judge has approved a temporary restraining order to block Tribune Publishing’s purchase of the Orange County Register and Riverside Press-Enterprise, a decision that the owner of the Los Angeles Times has described as a “death-knell” to its bid. The publishing company's... Continue reading at Los Angeles Times
[ Los Angeles Times | 2016-03-19 00:00:00 UTC ]
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Tribune Publishing's purchase of the Orange County Register and Riverside Press-Enterprise is doomed if the U.S. Department of Justice obtains a temporary restraining order on antitrust grounds, the owner of the Los Angeles Times argued Friday.The publishing company's $56-million cash offer for... Continue reading at Baltimore Sun
[ Baltimore Sun | 2016-03-19 00:00:00 UTC ]
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The force was with World Book Day last week as The Escape: Star Wars (Egmont) claimed the number one spot from Mary Berry’s Foolproof Cooking (BBC) and all 10 WBD titles charted inside the top 15. Continue reading at The Bookseller
[ The Bookseller | 2016-03-09 00:00:00 UTC ]
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Digital First Media, the owner of the Los Angeles Daily News, has indicated interest in bidding for the Orange County Register and other assets of bankrupt publishing company Freedom Communications. That move could set up a three-way bidding war for the Register among Digital First, Freedom... Continue reading at Baltimore Sun
[ Baltimore Sun | 2016-02-02 00:00:00 UTC ]
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December 27 will mark the final appearance of the print section, which was launched with great fanfare as a 24-page weekly supplement in 2012. In addition to books reviews, it featured author interviews, essays, literary news and a weekly work o ... Continue reading at Editor & Publisher
[ Editor & Publisher | 2015-12-11 00:00:00 UTC ]
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Tribune Publishing Co., the owners of the Los Angeles Times, offered $3 million to fund Freedom Communication Inc.’s bankruptcy case during the newspaper publisher’s first bankruptcy hearing Wednesday. A lawyer for the ... Continue reading at Editor & Publisher
[ Editor & Publisher | 2015-11-04 00:00:00 UTC ]
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Half of a Yellow Sun by Nigerian author Chimamanda Ngozi Adichie has been named the Bailey's ‘Best of the Best’, chosen from the past decade's winners of the Baileys Women’s Prize for Fiction. Continue reading at The Bookseller
[ The Bookseller | 2015-11-03 00:00:00 UTC ]
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Reviews editor Annie Coreno recommends 'The Private Lives of the Sun Signs' which explores the personality traits of the twelve zodiac signs, with insights into what motivates the people of each group. Continue reading at Publishers Weekly
[ Publishers Weekly | 2015-10-16 00:00:00 UTC ]
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Ad blockers are wreaking havoc with the online revenue of newspapers, yet some groups continue to throw money around to acquire online rivals. What happens when boom turns to bust?On the one hand, the bad times are rolling for news on screens. Ad blocking is knocking a hole in revenue streams –... Continue reading at The Guardian
[ The Guardian | 2015-10-04 00:00:00 UTC ]
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