Citing mounting vendor debt and declining revenue, Tiger Oak Media—the publisher of more than 30 regional and bridal magazines around the country—has filed for Chapter 11 bankruptcy protection, according to documents filed in U.S. Bankruptcy Court in Minnesota on Monday. The 26-year-old company, which employs 86 staffers across offices in seven states, reported less than $50,000 in assets and between $1 million and $10 million owed to more than 200 different creditors, including printers, event spaces, consultants and other vendors. A list of the 20 largest unsecured claims tops more than $3 million, though most of these are listed as disputed. CEO Craig Bednar, who founded Tiger Oak in 1992 with the launch of Minnesota Bride magazine, said operations will carry on as usual while the company attempts to use Chapter 11 protection to restructure its debts and lower costs, and that its portfolio of titles—which also includes Seattle magazine, Seattle Business, Wisconsin Bride and California Wedding Day, among numerous others—will continue to publish both in print and online. “Our intention is to give Tiger Oak Media a fresh start and overcome the financial concerns that have unfortunately persisted for the past couple of years,” said Bednar in a statement the company provided to Folio:. In the statement, the company primarily blamed a decline in print advertising for the delays in past due vendor payments that led to this week's bankruptcy petition, saying the company has... Continue reading at 'Folio Magazine'
[ Folio Magazine | 2019-10-10 14:55:27 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: Lisa Campbell Eleven Waterstone's stores will close by the end of this week. The outlets are spread across the UK and are mostly in locations where more than one Waterstone's store currently exists. Staff at the affected Waterstone's stores have now entered into a period of... Continue reading at The Bookseller
[ The Bookseller | 2011-02-01 00:00:00 UTC ]
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After a month of negotiations, Hearst has made an offer to buy 102 magazine titles from the French publisher. Continue reading at The New York Times
[ The New York Times | 2011-01-31 00:00:00 UTC ]
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Written By: Charlotte Williams Orbit has acquired three new books in the Dresden Files series by author Jim Butcher, following Chicago private investigator and wizard Harry Dresden. read more Continue reading at The Bookseller
[ The Bookseller | 2011-01-27 00:00:00 UTC ]
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Demand Media started trading on the New York Stock Exchange this week, making it one of the first IPOs of 2011 and certainly one of the largest media IPOs that will be seen all year. Continue reading at Folio Magazine
[ Folio Magazine | 2011-01-27 00:00:00 UTC ]
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TED, known for exclusive events and online videos of speeches by celebrities like Al Gore, Bono and Malcolm Gladwell, plans to publish its own short ebooks, beginning with three that went on sale Wednesday. Continue reading at The New York Times
[ The New York Times | 2011-01-26 00:00:00 UTC ]
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Organic growth will be the primary driver of the media business over the next 12 to 24 months, according to nearly 500 executives in the information, marketing services and technology sectors, according to the first annual Media Growth survey from investment banker The Jordan, Edmiston Group and... Continue reading at Folio Magazine
[ Folio Magazine | 2011-01-24 00:00:00 UTC ]
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That might be the best news yet, as long as publishers remember why they went into bankruptcy in the first place. Continue reading at Folio Magazine
[ Folio Magazine | 2011-01-21 00:00:00 UTC ]
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Ten years ago, as the prospect of monetizing Web sites started becoming a reality for publishers, different departments butted heads over prime real estate: editorial wanted it for content; sales wanted it for advertising; marketing wanted it for promotion. Today, as the emphasis shifts away... Continue reading at Folio Magazine
[ Folio Magazine | 2011-01-20 00:00:00 UTC ]
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Sly Bailey, the chief executive of newspaper publisher Trinity Mirror, has issued cutting criticism of the culture secretary Jeremy Hunt's understanding of the full media issues regarding News Corporation's relationship to BSkyB. Continue reading at Media Week
[ Media Week | 2011-01-19 00:00:00 UTC ]
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