Folio RSS: M and A and Finance

Cost Cutting, New Business Model Top of Mind for Playboy CEO

Jason Fell — Thu, 05 Nov 2009 12:20:43 -0500

In order for the print edition of Playboy magazine to break even or be profitable, “bolder steps are required,” recently-named CEO Scott Flanders said during the company’s third quarter earnings call Thursday morning.

What Went Wrong with Purpose Driven Connection?

Jason Fell — Thu, 05 Nov 2009 09:28:22 -0500

Publisher, pastor pull plug on print after four issues.

Time Inc. Parent to Initiate ‘More Targeted’ Restructuring of Publishing Group

Jason Fell — Wed, 04 Nov 2009 13:21:29 -0500

Time Warner CEO Jeff Bewkes said during an earnings call this morning that the company will incur a $100 million charge during the fourth quarter as it begins a restructuring of Time Inc., primarily in respect to its news group.

Ascend Media Holdings Files for Chapter 7 Liquidation

Jason Fell — Tue, 03 Nov 2009 14:30:35 -0500

After a lengthy process of selling off all but one of its business divisions, Overland Park, Kansas-based trade publisher Ascend Media Holdings has filed for Chapter 7 liquidation under the U.S. bankruptcy code.

Media M&A Sees Uptick in Third Quarter

Dan Trombetto — Fri, 30 Oct 2009 15:42:52 -0400

After a “moribund” first half, media M&A as a whole saw a significant uptick during the third quarter, which might be an indication that deal transactions are on the rebound, according to a quarterly report released by investment banker the Jordan, Edmiston Group. Deals spiked during the quarter, with 168 transactions announced, valued at $11.1 billion.

Meredith's National Magazine Division Sees 14 Percent Profit Spike

Vanessa Voltolina — Thu, 29 Oct 2009 10:24:00 -0400

Des Moines, Iowa-based magazine publisher Meredith Corp. Thursday reported $18.3 million in net earnings for its fiscal first quarter 2010, slipping less than two percent from $18.6 million during the same period last year.

Groups: No USPS Hike Means $150 Million in Savings for Publisher Members

Jason Fell — Wed, 28 Oct 2009 16:24:52 -0400

Earlier this month, the USPS said it would not increase prices for “market dominant” products next year, including First Class, Standard Mail, periodicals and single-piece Parcel Post.

McGraw-Hill Expects $5.9 Million Gain from BusinessWeek Sale

Jason Fell — Mon, 26 Oct 2009 10:49:51 -0400

Following a third quarter that saw net income drop nearly 14 percent to $336.1 million, the McGraw-Hill Companies today projected revenue for 2009 to be down roughly 7 percent compared to last year. The company had previously forecasted a revenue decline of 5.5 percent to 6.5 percent.

Randall-Reilly to Sell Shuttered Modern Woodworking

Jason Fell — Fri, 23 Oct 2009 11:58:01 -0400

Trade magazine Modern Woodworking will have a second life.Less than a month after Randall-Reilly Publishing said it would cease publishing the 23-year-old title, the company has agreed to sell it to TCC Media. Financial terms of the deal were not disclosed.

‘No Change in Ownership’ for New York

Jason Fell — Thu, 22 Oct 2009 17:30:10 -0400

A little more than a week after the death of investment banker and New York magazine owner Bruce Wasserstein, the CEO of the company that publishes the city magazine has said that it will not be sold.

New York Magazine Owner Wasserstein Dies

Jason Fell — Wed, 14 Oct 2009 23:45:20 -0400

Bruce Wasserstein, chairman and CEO of financial advisory firm Lazard Ltd. and chairman of private equity firm Wasserstein & Co., has died after being hospitalized Sunday with an irregular heartbeat. He was 61.

McGraw-Hill Sells BusinessWeek to Bloomberg

Jason Fell — Tue, 13 Oct 2009 19:22:56 -0400

RELATED: Bloomberg and BusinessWeek: The Future of Magazines?

Penton Media to Evaluate Capital Structure

Jason Fell — Fri, 09 Oct 2009 17:12:04 -0400

Penton Media is joining the growing list of over-leveraged trade magazine publishers trying to restructure their debt. In a memo to staffers this week, Penton CEO Sharon Rowlands said the company has hired global investment bankers Rothschild Inc. to assist with an evaluation of its current capital structure.

Banker: Questex Bankruptcy is ‘Penalization’ of Lenders

Jason Fell — Thu, 08 Oct 2009 16:29:05 -0400

Newton, Massachusetts-based American Spa and Hotel & Motel Management publisher Questex Media Group Holdings earlier this week became the latest over-leveraged magazine publisher to file for bankruptcy protection.

Bonnier Buys Conceive Magazine

Jason Fell — Wed, 07 Oct 2009 10:44:31 -0400

Parenting and Babytalk publisher Bonnier Corp. has completed its fourth acquisition in the last year with the purchase of Conceive magazine from its founder and a group of investors. Financial terms were not disclosed.

Recession’s Winter

Jason Fell — Tue, 06 Oct 2009 15:52:06 -0400

Over-leveraged publishers really have no idea where they’ll be next year.

Questex Media Files for Chapter 11

Jason Fell — Mon, 05 Oct 2009 16:52:38 -0400

Another b-to-b magazine publishing company has filed for Chapter 11 bankruptcy protection. Newton, Massachusetts-based Questex Media Group Holdings today said it has reached an agreement with its senior lenders and has filed for Chapter 11 in the U.S. bankruptcy court in order to implement a restructuring to reduce its debt.

Condé Nast Shutters Four Magazines

Jason Fell — Mon, 05 Oct 2009 10:56:24 -0400

UPDATE: Condé Nast CEO: No More Magazine ClosuresThe first wave of big changes have hit Condé Nast following its restructuring evaluation by consultants McKinsey & Company.

AMI Sells Rights to Publish Men’s Fitness UK

Jason Fell — Thu, 01 Oct 2009 13:28:57 -0400

American Media Inc. has sold the rights to publish the U.K. edition of Men’s Fitness to Maxim founder and The Week publisher Dennis Publishing. Financial terms were not disclosed.

Have Publishers Lost the Capacity for Long-Term Planning?

Dan Trombetto — Thu, 01 Oct 2009 11:10:40 -0400

Just a few years ago, all the talk was about implementing the three-legged stool strategy. Dubbed “the holy grail,” a publisher that offered advertisers a robust print, online and in-person solution, packaged together, would win.

Report: Media M&A Sees Uptick in Q3

Jason Fell — Thu, 01 Oct 2009 09:42:05 -0400

As a whole, media M&A saw a significant uptick during the third quarter, which might be an indication that deal transactions are on the rebound, according to the quarterly report released today by investment banker the Jordan, Edmiston Group. Deal values spiked during the quarter, with 168 transactions announced and valued at $11.1 billion.

Advanstar Communications Restructures, Cuts Debt by $385 Million

Jason Fell — Mon, 28 Sep 2009 21:44:18 -0400

UPDATE: Advanstar Moving Toward ‘New Strategic Plan’Advanstar Communications late Monday said it reached an agreement with its lenders to eliminate approximately $385 million in debt.

Johnson Publishing Moving Away From Magazines?

Jason Fell — Mon, 28 Sep 2009 14:06:46 -0400

Report: Chicago-based publisher eying sale of flagship Ebony magazine.

Morris Publishing Eyes Debt Restructuring

Jason Fell — Sat, 26 Sep 2009 13:36:03 -0400

Augusta, Georgia-based newspaper and city magazine publisher Morris Publishing Group said late Friday that it has agreed with the holders of more than 75 percent of its senior subordinated notes on a debt restructuring.

Euromoney Institutional Investor Acquires Real Estate Investment Site

Jason Fell — Thu, 24 Sep 2009 16:19:51 -0400

London-based Euromoney Institutional Investor—publisher of several trade publications primarily in the international finance sector—has acquired REITcafe.com, a provider of news, data and podcasts for Real Estate Investment Trust investors.

Dow Jones Shutters Far Eastern Economic Review

Jason Fell — Tue, 22 Sep 2009 11:51:38 -0400

Dow Jones said it will cease publishing Far Eastern Economic Review, its Asian news magazine, effective with the December issue.

Enthusiast Publisher Buys Cabin Life Magazine

Jason Fell — Mon, 21 Sep 2009 13:10:13 -0400

Waukesha, Wisconsin-based enthusiast publisher Kalmbach Publishing Company has acquired Cabin Life magazine from Fladmark Publishing Company. Terms of the deal were not disclosed.

Ziff Davis Enterprise Owner to Inject $50 Million Into Twitter

Jason Fell — Thu, 17 Sep 2009 14:01:13 -0400

Insight Venture Partners, the New York-based private equity firm that acquired Ziff Davis Enterprise in 2007, is said to be investing $50 million in Twitter.

UBM Sells European Business Press to TechInsights VP

Jason Fell — Thu, 17 Sep 2009 13:26:43 -0400

United Business Media’s TechInsights has agreed to sell Brussels-based European Business Press SA to TechInsights vice president Andre Rousselot, who becomes president of EBP. Under the agreement, EBP will publish EE Times Europe under license from UBM, as well as Microwave Engineering Europe and related Web sites eet.eu and mwee.com.

Report: Wasserstein Exits BusinessWeek Bidding Fray

Jason Fell — Tue, 15 Sep 2009 14:41:32 -0400

Bruce Wasserstein, who was considered by some to be the front runner in the bidding for McGraw-Hill’s BusinessWeek, is said to have decided against making a final bid for the magazine.

Bankers Drop Lawsuit Against Annie Leibovitz

Jason Fell — Fri, 11 Sep 2009 14:10:38 -0400

Renowned photographer Annie Leibovitz has come to an agreement with New York City-based bankers Art Capital Group that extends the previous September 8 deadline for the $24 million loan the group provided Leibovitz late last year.

Sources: CFO on the Block

Jason Fell — Thu, 10 Sep 2009 16:29:36 -0400

The Economist Group—the U.K.-based publisher of its flagship the Economist magazine—is said to be quietly looking for a buyer for CFO magazine.

Boat International Media Acquires ShowBoats International

Vanessa Voltolina — Tue, 08 Sep 2009 11:35:17 -0400

London-based Boat International Media announced late last week that it will be expanding its presence in the superyachts sector with the acquisition of the monthly ShowBoats International, associated publications, events and Web sites from CurtCo Media LLC.

Reader’s Digest Sells World Almanac

Jason Fell — Tue, 01 Sep 2009 12:18:51 -0400

New York City-based Infobase Publishing, a publisher of supplemental educational materials to the school and library markets, has acquired the World Almanac brand from World Almanac Education Group, which reported to the Reader's Digest Association's Reader's Digest Community.

Cam Bishop Acquires Ascend Custom and Event Group

Matt Kinsman — Tue, 01 Sep 2009 11:01:39 -0400

Ascend Media founder and former CEO Cameron Bishop, in partnership with investment fund TGP Capital Partners LLC, has acquired the Event and Custom Media Division of Ascend Media.

A Surge in Publishing Bankruptcies

Dan Trombetto — Tue, 01 Sep 2009 09:10:38 -0400

With annual revenue of more than $2 billion, Reader’s Digest may be the largest magazine publisher ever to file for bankruptcy. But it probably won’t be the last this year.

Doubledown Unable to Sell Magazine Assets

Jason Fell — Thu, 27 Aug 2009 16:44:49 -0400

At an auction held late last week in U.S. bankruptcy court in New York, Doubledown Media, a publisher of magazines aimed at the Wall Street elite that went out of business in February, did not receive any “acceptable” bids for its remaining magazine assets, including subscriber lists.

Sports Illustrated Sees Advertising Uptick

Jason Fell — Wed, 26 Aug 2009 21:33:01 -0400

It appears that Time Inc.’s Sports Illustrated Group is seeing some initial glimmers of light at the end of the long, dark, print advertising tunnel. The group today said that ad pages increased 45 percent year-over-year—to 80.3 pages—for its September 7 NFL preview issue.

Reader’s Digest Officially Files for Chapter 11

Jason Fell — Mon, 24 Aug 2009 09:31:40 -0400

As expected, Pleasantville, New York-based Reader’s Digest Association said today it officially filed for Chapter 11 bankruptcy protection. The publisher said it had agreed with more than 80 percent of its senior secured lenders on its plan of reorganization.

In Bankruptcy, Reader’s Digest CEO, CFO Get Sweet Financial Packages

Jason Fell — Thu, 20 Aug 2009 12:37:52 -0400

Mary Berner to receive $125,000 monthly salary during Chapter 11 proceedings.

A Look at Magazine Publishing’s CEO Exodus

Jason Fell — Wed, 19 Aug 2009 16:46:20 -0400

From magazine shutterings, to fire sales to Chapter 11 bankruptcy filings, the effects of the tumultuous U.S economy continue to spill over into magazine publishing. So much so, in fact, we’ve recently seen top executives leave some of the biggest publishing companies in the country.

Ascend Sells Two Divisions

Jason Fell — Wed, 19 Aug 2009 12:00:36 -0400

Two months after saying it was exploring its options in terms of a sale of its remaining four divisions, Overland Park, Kansas-based trade publisher Ascend Media has sold two of those businesses.

Trying to Make Sense of Magazine Closings

Jason Fell — Wed, 19 Aug 2009 09:16:06 -0400

MPA: Economics, not readers, are behind it all

For Publishing Companies and Their Suppliers, a Surge in Bankruptcies

Jason Fell — Tue, 18 Aug 2009 15:56:40 -0400

With annual revenue of more than $2 billion, the Reader’s Digest Association may be the largest magazine publisher to ever file for bankruptcy. But it probably won’t be the last this year.

ACP to Relaunch 13 Construction Titles

Jason Fell — Tue, 18 Aug 2009 13:59:35 -0400

Reed Business Information’s former regional construction magazines are set to live again in print.

Behind the Reader’s Digest Bankruptcy Filing

Jason Fell — Tue, 18 Aug 2009 11:40:57 -0400

The Reader’s Digest Association Monday became the latest magazine publisher weighed down by severe debt to file for bankruptcy protection.

Reader’s Digest to File for Chapter 11 Bankruptcy Protection

Jason Fell — Mon, 17 Aug 2009 10:22:58 -0400

UPDATE: Behind the RDA Chap. 11 Filing

Sources: RDA Could Miss Debt Payment

Jason Fell — Fri, 14 Aug 2009 12:23:55 -0400

UPDATE: Reader’s Digest to File for Chap. 11Pleasantville, New York-based Reader’s Digest Association may be on the brink of missing a loan payment.

Penthouse, 944 Media Make Inc.’s 5000

Jason Fell — Wed, 12 Aug 2009 18:29:50 -0400

Mansueto Ventures’ Inc. magazine unveiled its third annual list Wednesday of the 5,000 fastest-growing privately held companies in the U.S.

Need’s ‘Screw the Man,’ ‘Who Cares?’ Campaigns Provide Revenue Jolt

Jason Fell — Wed, 12 Aug 2009 17:22:33 -0400

Minneapolis, Minnesota-based “humanitarian” magazine Need has seen some positive results from its ScrewTheMan, SaveTheWorld and Who Cares? subscription campaigns.