Folio Stories 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.

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.