Justice John Murphy declined to give his approval for the plan of compromise and arrangement, saying he disapproved of some of the broad releases for the creditor protection process, such as taking away the rights of “as-yet unidentified parties” to make claims.
Wednesday, September 12, 2012
Judge Refuses to Approve Pacific West Plan
Justice John Murphy declined to give his approval for the plan of compromise and arrangement, saying he disapproved of some of the broad releases for the creditor protection process, such as taking away the rights of “as-yet unidentified parties” to make claims.
China Names Additional Mills on Closure List
The
Chinese government has released a supplementary list of targets in a 1.15
million/tonne capacity closure drive, focusing on old pulp and paper capacity.
This raises the country's closure goal for this year to more than 9.95 million
tonnes/yr.
The
document is a follow-up to the first list, which detailed the shutdown of 8.80
million tonnes/yr of old pulp and paper capacity. It was released by the
Ministry of Industry and Information Technology in July.
SFI Partners with Time, National Geographic & Others
http://www.sfiprogram.org/newsroom/?p=1490
Four
leaders of the North American publishing industry announced today they will
partner with the Sustainable Forestry Initiative (SFI) to help spur the growth
of certification to preserve and protect forests.
Time
Inc., the National Geographic Society, Macmillan, and Pearson will become
Founding Partners of the SFI Forest Partners Program. The alliance was
announced at the SFI annual conference in Milwaukee, attended by foresters,
land owners, conservation groups, First Nations, industry and government
agencies.
Holiday Retail Sales Forecast Positive
Michael Grancis Joins Gap Inc.
Source Interlink Acquires CarDomain
"Marie Claire" Features Video in Print Ad
"Harper's Bazaar" Launches New Platform
HarperCollins Reaches eBook Price Deal
HarperCollins Publishers announced Tuesday that it has reached new price agreements with sellers that conform to a settlement with the Justice Department over allegations that five publishers and Apple colluded to set prices for e-books. Such new works as Michael Chabon's "Telegraph Avenue" now can be purchased on Amazon.com for $9.99, a price publishers and rival booksellers fear will give Amazon dominant control of the e-market.
Amazon Response to State Sales Tax; New Warehouses
The building of new warehouses marks the relentless quest by the online mall Amazon.com
to become all things to all shoppers.
A
million-square-foot warehouse stocking razor blades and books, diapers and dog
food will soon rise on this spot, less than a mile from the highway that will
deliver these and just about every other product imaginable to customers 85
miles away in San Francisco.
A
similar distribution center is being built on the outskirts of Los Angeles.
Others are under way in Indiana, New Jersey, South Carolina, Tennessee and
Virginia.
This
multibillion-dollar building frenzy comes as Amazon is about to lose perhaps
its biggest competitive edge — that the vast majority of its customers do not
pay sales tax. After negotiations with lawmakers, the company is beginning to
collect taxes in California, Texas, Pennsylvania and other states. But Amazon
hopes that the warehouses will allow it to provide better service, giving it
the ability to up-end the retailing industry in an entirely new way.
TheStreet Acquires The Deal
Financial Media Company The Deal Acquired by TheStreet, Inc.:
Financial media enterprise The Deal LLC has been acquired by TheStreet, Inc.
Terms of the acquisition were not announced in the release, but multiple reports say the sale was worth $5.8 million.
The Deal, publishers of TheDeal.com, The Deal magazine and industry news and analysis service The Deal Pipeline, had been in discussions with multiple strategic buyers over the past five months, according to Reed Phillips of DeSilva+Phillips who brokered the sale.
Financial media enterprise The Deal LLC has been acquired by TheStreet, Inc.
Terms of the acquisition were not announced in the release, but multiple reports say the sale was worth $5.8 million.
The Deal, publishers of TheDeal.com, The Deal magazine and industry news and analysis service The Deal Pipeline, had been in discussions with multiple strategic buyers over the past five months, according to Reed Phillips of DeSilva+Phillips who brokered the sale.
Tuesday, September 11, 2012
Port Hawkesbury; Employees on Site Monday to Prepare Restart
http://www.cbc.ca/news/canada/nova-scotia/story/2012/09/07/ns-newpage-ramping-up-to-open.html In a statement released Friday afternoon,
Pacific West Commercial Corporation said 140 former employees of the former
NewPage paper mill in Port Hawkesbury will be on the site Monday, preparing the
mill for an eventual restart.
In Friday's statement, Pacific West said after the mill purchase is finalized later this month, all 330 employees will be recalled to work.
SP Fiber Technologies Buys SP Newsprint
SP
Fiber Technologies LLC (SPFT) has announced today that it has successfully
acquired substantially all of the assets and certain liabilities of SP
Newsprint and its subsidiaries in a court-approved sale.
SPFT
will relocate its corporate headquarters to its facility in Dublin, Georgia.
The company will operate its mills in Newberg, Oregon and Dublin, Georgia as
well as its wholly-owned subsidiaries SP Recycling Southeast LLC (SPRS) and SP
Recycling Northwest LLC (SPRN). Based in Atlanta, Georgia, SPRS and SPRN are
leading recyclers of recovered paper and other recovered commodities in the
Southeast and the Pacific Northwest. The two recycling companies collect,
process, and ship high quality material from 21 processing facilities in 9
states.
IP Schedules Downtime Maintenance
SF Chronicle Launches New Title
SF Chronicle Launches 49ers Digital Magazine: The San Francisco Chronicle launched its 49ers Insider digital magazine last week in advance of the team’s season-opener against the Green Bay Packers on Sunday.
Log Exports to China Down 25% in H1
A new report from the U.S. Forest Service says 25 percent fewer logs were exported from Oregon, Washington, Northern California and Alaska during the first half of this year. That’s compared with the same period of 2011.
Under Armour's New Ad Focus; Women
Under
Armour, a sporting goods company that has traditionally been more successful
selling to men, has launched a multifaceted fall campaign in what the brand is
calling its biggest female-focused initiative yet. It’s running static and
rich-media ads on Facebook, Twitter, Hulu, MTV.com and women’s lifestyle site
Fitsugar.com. The video portion of the ad buys will utilize 15- and 30-second
spots that depict females in sometimes grueling training activities.
Thrillist Names General Manager
With New GM Hire, Thrillist Looks to Expand Beyond Newsletters:
Thrillist, a men's lifestyle publisher, has hired former Maxim digital editorial director Gene Newman as general manager. The newly created position will execute on a strategy to expand the Thrillist brand as a destination site beyond its email subscription roots.
Thrillist, a men's lifestyle publisher, has hired former Maxim digital editorial director Gene Newman as general manager. The newly created position will execute on a strategy to expand the Thrillist brand as a destination site beyond its email subscription roots.
'The Economist'; First Global 'Consolidated Media Report'
'The Economist' releases first global 'Consolidated Media Report': The Economist has released its first global “Consolidated Media Report,” which shows audited data for The Economist's global print and digital products across seven regions.
The report, produced with the Audit Bureau of Circulations (ABC) North America and ABC U.K., provides media buyers with the brand's print circulation and metrics from multiple digital channels.
The report, produced with the Audit Bureau of Circulations (ABC) North America and ABC U.K., provides media buyers with the brand's print circulation and metrics from multiple digital channels.
"Esquire" Launches Spin-Off
At
first glance, there seems to be no lack of work-related publications for the
modern man. But take away the lists of enormous companies (or their
enormously wealthy CEOs) and entrepreneurial fairy tales, and there’s not a lot
of pragmatic content. So says Esquire, which is hoping to fill the
gap with a new supplement, Esquire, Working.
"Glamour's" New Campaign Targets Millennials
"Texas Monthly" Redesigned
The redesign comes as the magazine seems to be performing better than many others. Texas Monthly's newsstand sales edged up 1.5% in the first half, a period when industrywide newsstand sales fell 9.6%, according to the Audit Bureau of Circulations. Ad pages through the September issue increased 4.9% over the period a year earlier, while monthlies on the whole saw ad pages decline 4.9%, according to the Media Industry Newsletter.
Q2 Ad Spending Flat
U.S. ad spending growth nearly stalled in the
second quarter of 2012, climbing less than 1% to $34 billion, according to a
report issued today by Kantar Media. For the first half, spending was up 1.9%
to $67.1 billion.
RR Donnelley Buys Express Postal Options
RR Donnelley Acquires Express Postal Options to Expand Logistics Offering: R. R. Donnelley & Sons announced that it has further expanded its fast growing logistics services offering with the acquisition of Express Postal Options International (XPO), a privately held company based in Torrance, CA. XPO provides international outbound mailing services to pharmaceutical, e-commerce, financial services, information technology, catalog, direct mail and other businesses.
DMA Names Winners in Innovation
DMA names marketing technology innovators: The Direct Marketing Association has named seven companies as winners of its 2012 Innovation Awards for excellence in direct and digital marketing technology.
Out-of-Home Advertising Up 4.3%
Out-of-home advertising up 4.3% in Q2: Out-of-home advertising revenue rose 4.3% in the second quarter of 2012 compared with the same period a year earlier, accounting for more than $2 billion in expenditures, according to the Outdoor Advertising Association of America.
Consolidation Could Save USPS $1 Billion
USPS Could Save $1 Billion by Combining Delivery Operations, Study Says: The U.S. Postal Service could save about $1 billion annually by closing nearly 10,000 postal facilities that house both retail and carrier functions, according to a study released today. A plan presented by the USPS’s Office of Inspector General would mean fewer clerks and postmasters, but increased labor costs for letter carriers.
Congress is Back; Postal Reform on the List
Congress Faces Continuing Resolution, Sequestration and Postal Reform: Lawmakers returned to Washington, DC, this week with a packed agenda. Topping the list of priorities is hammering out final details of a stopgap spending measure to keep the government running. Amid the election-year politicking, the list of unfinished business also includes legislation to restructure the financially ailing U.S. Postal Service.
The Senate approved a postal reform bill in the spring. However, the House version, which takes a very different tack to returning the USPS to solvency, has languished.
The Senate approved a postal reform bill in the spring. However, the House version, which takes a very different tack to returning the USPS to solvency, has languished.
Monday, September 10, 2012
Resolute Announces More Debt Reduction
Resolute Forest Products announces further debt reduction and repurchases additional shares:
Resolute Forest Products Inc. has announced that it would take advantage of its strong liquidity position to redeem an additional $85 million of its 10.25% senior secured notes due 2018.
Resolute also announced that it had now repurchased 3.7 million shares of its common stock under the existing $100 million share repurchase program.
Resolute Forest Products Inc. has announced that it would take advantage of its strong liquidity position to redeem an additional $85 million of its 10.25% senior secured notes due 2018.
Resolute also announced that it had now repurchased 3.7 million shares of its common stock under the existing $100 million share repurchase program.
Norske Invests in Conversion to Coated Grades
Norske Skog invests AUD 84 millions in Australia
Norske Skog will convert a machine at the Boyer mill in Australia to the production of coated grades, and close one newsprint machine at the Tasman mill in New Zealand.
Norske is investing invest AUD 84 million in the project. The Australian government is providing substantial funding.
The machine conversion project will be done over the next two years and will enable the production of coated grades among other things suitable for catalogues.
Norske Skog will convert a machine at the Boyer mill in Australia to the production of coated grades, and close one newsprint machine at the Tasman mill in New Zealand.
Norske is investing invest AUD 84 million in the project. The Australian government is providing substantial funding.
The machine conversion project will be done over the next two years and will enable the production of coated grades among other things suitable for catalogues.
PPI Top 100
The PPI Top 100 - M&As create a stir: Few surprises mark this year's Top 100 results, which has been the case for many years. International Paper (IP) continues to be ranked at the top with sales of pulp, paper, converting and merchanting (PPCM) operations reaching more than $26 billion in 2011.
DMA; Marketers are Bullish
DMA finds marketers bullish on direct and digital marketing: Despite mixed signals in the economy, more than 72% of marketers and marketing suppliers believe direct and digital marketing are well-positioned for future growth, according to a report from the Direct Marketing Association.
According to DMA's “Quarterly Business Review,” 48.8% of respondents saw their companies' direct and digital revenue grow in the second quarter, while 42.2% reported unchanged revenue.
Marketers responding said they maintained spending on direct mail and place-based/out-of-home media during the second quarter, while they cut spending on direct-response broadcast, gaming and teleservices, according to the report.
According to DMA's “Quarterly Business Review,” 48.8% of respondents saw their companies' direct and digital revenue grow in the second quarter, while 42.2% reported unchanged revenue.
Marketers responding said they maintained spending on direct mail and place-based/out-of-home media during the second quarter, while they cut spending on direct-response broadcast, gaming and teleservices, according to the report.
Quadrant HealthCom Buys IMNG
Quadrant HealthCom Buys IMNG From Elsevier:
Healthcare media company Quandrant HealthCom Inc. has purchased the International Medical News Group from Elsevier, Inc. Quadrant, which is owned by investment firm M.E. Zukerman, will use the deal to create a new company called Frontline Medical Communications under which the two entities will operate their individual brands. Combined, company revenues are now over $60 million.
By itself, Parsippany, New Jersey-based Quadrant publishes 13 medical journals, 24 websites and 10 events. In late 2009, the company bought four medical journals in the Dowden Professional Publications group from Lebhar-Friedman.
But with the IMNG deal, Quadrant greatly expands its brands and audience reach. Frontline Medical Communications will produce 29 publications in 17 market segments with a combined circulation of 700,000, say the companies. The group will also publish 125 e-newsletters, 35 websites and 14 live events.
Healthcare media company Quandrant HealthCom Inc. has purchased the International Medical News Group from Elsevier, Inc. Quadrant, which is owned by investment firm M.E. Zukerman, will use the deal to create a new company called Frontline Medical Communications under which the two entities will operate their individual brands. Combined, company revenues are now over $60 million.
By itself, Parsippany, New Jersey-based Quadrant publishes 13 medical journals, 24 websites and 10 events. In late 2009, the company bought four medical journals in the Dowden Professional Publications group from Lebhar-Friedman.
But with the IMNG deal, Quadrant greatly expands its brands and audience reach. Frontline Medical Communications will produce 29 publications in 17 market segments with a combined circulation of 700,000, say the companies. The group will also publish 125 e-newsletters, 35 websites and 14 live events.
TV Guide Promotes Birnbaum
Debra
Birnbaum, who as TV Guide
editor-in-chief (since April 2008) "successfully steered the magazine
through some of the most challenging years of publishing," was promoted to
president/editor-in-chief on
Sept. 7.
Redesign of USA Today, Gannett Buys Mobestream
One of the nation’s biggest newspapers is
getting a comprehensive makeover, as USA Today
prepares to relaunch its print edition, Web site and mobile apps...and this week, USA Today publisher Gannett Co. announced it has acquired
Mobestream, which operates Key Ring, a mobile rewards program that will allow
Gannett to help local merchants strengthen relationships with consumers through
a variety of loyalty programs.
PIA and NAPL Will Not Merge
Printing Association End Unification Talks, to Remain Independent:
The joint Unification Task Force, formed last February to study the possible blending of Printing Industries of America and the National Association for Printing Leadership, has announced its recommendation to cease unification discussions. The two groups have decided to remain independent, but will continue their active collaboration on key programs and ongoing partnerships in the Graphic Arts Show Co., GAERF, and conferences such as the Vision 3 Summit.
The joint Unification Task Force, formed last February to study the possible blending of Printing Industries of America and the National Association for Printing Leadership, has announced its recommendation to cease unification discussions. The two groups have decided to remain independent, but will continue their active collaboration on key programs and ongoing partnerships in the Graphic Arts Show Co., GAERF, and conferences such as the Vision 3 Summit.
Kodak Announces New Management Team
Phil Faraci Out at Kodak; additional 1,000 job cuts:
Philip J. Faraci, President, is leaving the company. Perez noted that as Chief Operating Officer, Faraci played an important role in helping transform the company.
Chief Financial Officer Antoinette P. McCorvey has decided to leave the company. Rebecca A. Roof, a managing director of AlixPartners, the company’s restructuring advisory firm, will become Chief Financial Officer on an interim basis.
Laura G. Quatela, Kodak President, will assume the additional role of President, Personalized Imaging, and lead that business through its sale process.
Dolores Kruchten will become President, Document Imaging, to lead that business through its sale process.
Quatela and Dolores Kruchten are expected to remain with Kodak until the sales of their respective businesses are completed in the first half of 2013.
Philip J. Faraci, President, is leaving the company. Perez noted that as Chief Operating Officer, Faraci played an important role in helping transform the company.
Chief Financial Officer Antoinette P. McCorvey has decided to leave the company. Rebecca A. Roof, a managing director of AlixPartners, the company’s restructuring advisory firm, will become Chief Financial Officer on an interim basis.
Laura G. Quatela, Kodak President, will assume the additional role of President, Personalized Imaging, and lead that business through its sale process.
Dolores Kruchten will become President, Document Imaging, to lead that business through its sale process.
Quatela and Dolores Kruchten are expected to remain with Kodak until the sales of their respective businesses are completed in the first half of 2013.
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