Michael Dell will take computer company Dell Inc private in a $24.4 billion deal that marks the biggest leveraged buyout since the financial crisis.The company's founder and CEO, and private equity firm Silver Lake are paying $13.65 per share in cash for the world's No. 3 computer maker.The deal is being financed by cash and equity from Michael Dell, cash from Silver Lake, cash from Michael Dell's MSD Capital investment firm, a $2 billion loan from Microsoft Corp and debt financing from Bank of America Merrill Lynch, Barclays, Credit Suisse and RBC Capital Markets.The parties expect the transaction to close before the end of the second quarter of Dell's fiscal 2014. While analysts said Dell could be more nimble as a private company, it will still have to deal with the same difficult market conditions.
Tuesday, February 5, 2013
Dell To Go Private In $24.4 Billion Deal
http://www.reuters.com/article/2013/02/05/us-dell-buyout-idUSBRE9140NF20130205
Michael Dell will take computer company Dell Inc private in a $24.4 billion deal that marks the biggest leveraged buyout since the financial crisis.The company's founder and CEO, and private equity firm Silver Lake are paying $13.65 per share in cash for the world's No. 3 computer maker.The deal is being financed by cash and equity from Michael Dell, cash from Silver Lake, cash from Michael Dell's MSD Capital investment firm, a $2 billion loan from Microsoft Corp and debt financing from Bank of America Merrill Lynch, Barclays, Credit Suisse and RBC Capital Markets.The parties expect the transaction to close before the end of the second quarter of Dell's fiscal 2014. While analysts said Dell could be more nimble as a private company, it will still have to deal with the same difficult market conditions.
Michael Dell will take computer company Dell Inc private in a $24.4 billion deal that marks the biggest leveraged buyout since the financial crisis.The company's founder and CEO, and private equity firm Silver Lake are paying $13.65 per share in cash for the world's No. 3 computer maker.The deal is being financed by cash and equity from Michael Dell, cash from Silver Lake, cash from Michael Dell's MSD Capital investment firm, a $2 billion loan from Microsoft Corp and debt financing from Bank of America Merrill Lynch, Barclays, Credit Suisse and RBC Capital Markets.The parties expect the transaction to close before the end of the second quarter of Dell's fiscal 2014. While analysts said Dell could be more nimble as a private company, it will still have to deal with the same difficult market conditions.
Can Publishers Make E-Tail Pay?
http://www.adweek.com/news/press/can-publishers-make-e-tail-pay-146983
In an age where print media is trailing digital growth but display ads still aren’t pulling their weight, publishers are looking to e-commerce to drum up some extra revenue. But while plenty of media companies are making an effort—whether it’s Harper’s Bazaar launching e-boutique Bazaar Shops last fall, Better Homes and Gardens’ new shopping channel or Lucky recently restructuring its executive team to focus on digital commerce—many are still struggling to find a profitable model. Veterans of the space say it’s a lot harder than it looks. One fatal flaw of many media-driven e-commerce sites is that they lack a merchandising strategy as meticulous as their editorial strategy, said Ben Lerer, the co-founder of Thrillist, which bought men’s flash sale site JackThreads three years ago. "Understanding editorial and merchandising curation is not the same," he said. “Most of these media companies don’t have a single merchandiser in the building.” Another major difficulty in combining e-commerce with content is getting consumers to transition from browsing to buying, said Tyler Thoreson, vp of men’s editorial, creative and customer experience at Gilt Groupe. "You need to remember what the reader came there for and what’s their headspace," said Thoreson. “From my experience, I’m not 100 percent convinced that it’s all that easy to turn a reader into a customer.” So, whether any publisher will manage to create a full e-commerce experience, from inventory to customer service, is still up in the air. As it becomes harder for media companies bringing in millions of unique visitors every month to make a profit from display ads, however, they may eventually be forced to start thinking more unconventionally.
In an age where print media is trailing digital growth but display ads still aren’t pulling their weight, publishers are looking to e-commerce to drum up some extra revenue. But while plenty of media companies are making an effort—whether it’s Harper’s Bazaar launching e-boutique Bazaar Shops last fall, Better Homes and Gardens’ new shopping channel or Lucky recently restructuring its executive team to focus on digital commerce—many are still struggling to find a profitable model. Veterans of the space say it’s a lot harder than it looks. One fatal flaw of many media-driven e-commerce sites is that they lack a merchandising strategy as meticulous as their editorial strategy, said Ben Lerer, the co-founder of Thrillist, which bought men’s flash sale site JackThreads three years ago. "Understanding editorial and merchandising curation is not the same," he said. “Most of these media companies don’t have a single merchandiser in the building.” Another major difficulty in combining e-commerce with content is getting consumers to transition from browsing to buying, said Tyler Thoreson, vp of men’s editorial, creative and customer experience at Gilt Groupe. "You need to remember what the reader came there for and what’s their headspace," said Thoreson. “From my experience, I’m not 100 percent convinced that it’s all that easy to turn a reader into a customer.” So, whether any publisher will manage to create a full e-commerce experience, from inventory to customer service, is still up in the air. As it becomes harder for media companies bringing in millions of unique visitors every month to make a profit from display ads, however, they may eventually be forced to start thinking more unconventionally.
Publishers Cool On Facebook
http://www.digiday.com/publishers/publishers-cool-on-facebook/
We are entering the end of the like era. There was a time, not long ago, when all industries, including publishing, wondered how to turbocharge their growth via Facebook. But as the plunging fortunes of Zynga show, that’s a dangerous proposition. Many publishers are realizing Facebook won’t offer much salvation. Sure, it still drives plenty of traffic, but those numbers aren’t growing as fast — and in some cases, they’re going in reverse. That means publishers aren’t pushing readers to “like them on Facebook” as much as they used to. After all, only 16 percent of a publisher’s fans organically see a page post. Given a choice, a publisher would much rather have someone sign up for an email newsletter or even follow it on Twitter.
We are entering the end of the like era. There was a time, not long ago, when all industries, including publishing, wondered how to turbocharge their growth via Facebook. But as the plunging fortunes of Zynga show, that’s a dangerous proposition. Many publishers are realizing Facebook won’t offer much salvation. Sure, it still drives plenty of traffic, but those numbers aren’t growing as fast — and in some cases, they’re going in reverse. That means publishers aren’t pushing readers to “like them on Facebook” as much as they used to. After all, only 16 percent of a publisher’s fans organically see a page post. Given a choice, a publisher would much rather have someone sign up for an email newsletter or even follow it on Twitter.
Murdoch Must Wait As Rift Stalls Media Rules
http://www.bloomberg.com/news/2013-02-05/murdoch-coveting-papers-must-wait-as-rift-stalls-u-s-media-rule.html
A move to make it easier for companies to own U.S. daily newspapers and nearby broadcast stations has stalled amid partisan tension that could prevent deals between companies such as Tribune Co. and News Corp. Federal Communications Commission Chairman Julius Genachowski, a Democrat, hasn’t won approval of his proposal to ease a ban on cross-media ownership almost three months after asking fellow commissioners to vote for it. The FCC proposal’s fate may determine whether News Corp. Chairman Rupert Murdoch has a chance to buy Tribune Co. newspapers in U.S. markets where his company owns Fox television stations. Tribune emerged from bankruptcy Dec. 31 with a plan to focus on its broadcast properties, and Murdoch plans to take a close look at the newspapers if they become available, according to a person with knowledge of his thinking.
A move to make it easier for companies to own U.S. daily newspapers and nearby broadcast stations has stalled amid partisan tension that could prevent deals between companies such as Tribune Co. and News Corp. Federal Communications Commission Chairman Julius Genachowski, a Democrat, hasn’t won approval of his proposal to ease a ban on cross-media ownership almost three months after asking fellow commissioners to vote for it. The FCC proposal’s fate may determine whether News Corp. Chairman Rupert Murdoch has a chance to buy Tribune Co. newspapers in U.S. markets where his company owns Fox television stations. Tribune emerged from bankruptcy Dec. 31 with a plan to focus on its broadcast properties, and Murdoch plans to take a close look at the newspapers if they become available, according to a person with knowledge of his thinking.
Gannett Co. Reports Strong Q4 Results
http://www.prnewswire.com/news-releases/gannett-co-inc-reports-strong-fourth-quarter-results-driven-by-total-company-revenue-growth-of-9-percent-and-non-gaap-earnings-growth-of-20-percent-189640351.html
Gannett Co., Inc. a leading international media and marketing solutions company, today reported strong fourth quarter financial results. Earnings per diluted share, on a GAAP (generally accepted accounting principles) basis were $0.44 for the fourth quarter of 2012 compared to $0.49 for the same quarter last year. Excluding special items in both years, fourth quarter earnings per diluted share were $0.89 in 2012 compared to $0.72 in the fourth quarter of 2011, a 23.6 percent increase. Gracia Martore, President and Chief Executive Officer, said, "We are proud of our strong operating results this quarter with growth in revenue and margin expansion driving strong cash flow. This caps an extremely productive year in which we successfully implemented our strategy to position Gannett for success in the digital era. For the year, we achieved our first year-over-year increase in company-wide revenue since 2006. During the fourth quarter and for the full year, our Broadcasting business delivered record revenue and profitability. Our television stations significantly increased market share this year reflecting the value of their content and format in gaining new viewers while retaining their loyal base. Not to be outdone, local domestic publishing circulation revenue also increased for the third straight quarter driven by the success of our all access content subscription model. We are meeting or exceeding the revenue and operating profit goals we had for the all access content subscription model. Total digital revenue across Gannett increased 29 percent and represented 25 percent of total revenue.
Gannett Co., Inc. a leading international media and marketing solutions company, today reported strong fourth quarter financial results. Earnings per diluted share, on a GAAP (generally accepted accounting principles) basis were $0.44 for the fourth quarter of 2012 compared to $0.49 for the same quarter last year. Excluding special items in both years, fourth quarter earnings per diluted share were $0.89 in 2012 compared to $0.72 in the fourth quarter of 2011, a 23.6 percent increase. Gracia Martore, President and Chief Executive Officer, said, "We are proud of our strong operating results this quarter with growth in revenue and margin expansion driving strong cash flow. This caps an extremely productive year in which we successfully implemented our strategy to position Gannett for success in the digital era. For the year, we achieved our first year-over-year increase in company-wide revenue since 2006. During the fourth quarter and for the full year, our Broadcasting business delivered record revenue and profitability. Our television stations significantly increased market share this year reflecting the value of their content and format in gaining new viewers while retaining their loyal base. Not to be outdone, local domestic publishing circulation revenue also increased for the third straight quarter driven by the success of our all access content subscription model. We are meeting or exceeding the revenue and operating profit goals we had for the all access content subscription model. Total digital revenue across Gannett increased 29 percent and represented 25 percent of total revenue.
For Publishers, Social Media Trumps Search
For Publishers, Social Media Trumps Search:
As a top referral source, social is expected to overtake search this year. Online publishers of all stripes have invested heavily in search to drive reader acquisition. With a market size approaching $3B in 2013, the SEO industry has thrived on the data feedback loops created by analyzing the keywords that users enter into search engines before arriving at their sites or competitive sites. Yet despite continued growth in user search activity and increasingly sophisticated keyword analysis tools, 2013 is shaping up to be the first year that social media eclipses search as the leading source of referral traffic to publishers. How could this be?
As a top referral source, social is expected to overtake search this year. Online publishers of all stripes have invested heavily in search to drive reader acquisition. With a market size approaching $3B in 2013, the SEO industry has thrived on the data feedback loops created by analyzing the keywords that users enter into search engines before arriving at their sites or competitive sites. Yet despite continued growth in user search activity and increasingly sophisticated keyword analysis tools, 2013 is shaping up to be the first year that social media eclipses search as the leading source of referral traffic to publishers. How could this be?
How Mobile Coupons Could Clip Newspapers
http://newsosaur.blogspot.de/2013/02/how-mobile-coupons-could-clip-newspapers.html
The rapidly expanding adoption of mobile couponing is poised to become a major challenge to one of the most profitable and important revenue streams remaining for newspapers: preprint advertising circulars. The good news for publishers at the moment is that newspapers carry 90% of the printed coupons issued annually by consumer-products companies in the United States, according to a mid-2012 survey by NCH Marketing Services, a division of the Valassis direct-mail company that serves as a clearinghouse for many of the billions of coupons redeemed every year. NCH says 305 billion coupons were issued in 2012. But things could be about to change, as consumers and marketers rapidly embrace the power of mobile phones to deliver the right deal at the right place and time to exactly the right customer. While only 6.0% of mobile phone owners used mobile coupons in 2012, the number rose to 16.3% in 2012 and is projected to leap to 24.3% by 2014, according to eMarketer, an independent research company.
The rapidly expanding adoption of mobile couponing is poised to become a major challenge to one of the most profitable and important revenue streams remaining for newspapers: preprint advertising circulars. The good news for publishers at the moment is that newspapers carry 90% of the printed coupons issued annually by consumer-products companies in the United States, according to a mid-2012 survey by NCH Marketing Services, a division of the Valassis direct-mail company that serves as a clearinghouse for many of the billions of coupons redeemed every year. NCH says 305 billion coupons were issued in 2012. But things could be about to change, as consumers and marketers rapidly embrace the power of mobile phones to deliver the right deal at the right place and time to exactly the right customer. While only 6.0% of mobile phone owners used mobile coupons in 2012, the number rose to 16.3% in 2012 and is projected to leap to 24.3% by 2014, according to eMarketer, an independent research company.
UBM Sells Data Services Businesses
UBM Sells Data Services Businesses: B-to-b media company UBM has agreed to sell “the bulk” of its data services business for $252 million to Electra Partners, a private-equity firm. A deal was expected after UBM announced a “strategic review” of its data services segment in July. The combined business units, known as “Delta,” include Health, Technology and IP, Trade and Transport, and Paper. The businesses in the portfolio being sold off generated $300 million in revenues in 2011, but shed about $20 million last year. Operating profits declined slightly over the period, settling at about $43.2 million in 2012. Gross assets were listed at $466 million at the halfway point last year.
Bookish, New Web Site
http://mediadecoder.blogs.nytimes.com/2013/02/04/bookish-new-web-site-provides-information-on-books-and-authors/?ref=media
Bookish, the Web site built by top publishers to provide information on their books and authors in a literary magazine-like format, opened for business Monday night. Although the site received financing from just three houses – Simon & Schuster, Penguin Group USA and Hachette Book Group – it will include books by 16 other publishers including Random House and Scholastic.Meant primarily as a destination for readers, visitors can also purchase books on the site directly from the publishers through bookish.com or other retailers if they’d like. Ardy Khazaei, Bookish’s chief executive, said this will be a better way for people to discover new books, because recommendations from friends are not necessarily the best way to find a match for a reader’s tastes. He added that friends and relatives “won’t be able to know about as many relevant books as our tool can.”
Bookish, the Web site built by top publishers to provide information on their books and authors in a literary magazine-like format, opened for business Monday night. Although the site received financing from just three houses – Simon & Schuster, Penguin Group USA and Hachette Book Group – it will include books by 16 other publishers including Random House and Scholastic.Meant primarily as a destination for readers, visitors can also purchase books on the site directly from the publishers through bookish.com or other retailers if they’d like. Ardy Khazaei, Bookish’s chief executive, said this will be a better way for people to discover new books, because recommendations from friends are not necessarily the best way to find a match for a reader’s tastes. He added that friends and relatives “won’t be able to know about as many relevant books as our tool can.”
Billboard Mag Launches iPad App
Billboard Magazine Launches Dynamic iPad App Powered by MEI Portico: Managing Editor Inc. (MEI) today announced the release of Billboard’s new custom-branded app developed and deployed using MEI Portico™ and Adobe® Digital Publishing Suite™. The MEI team worked with Prometheus Global Media, owner of the Billboard brand, to create a unified app experience across three of its digital publications
Langley Holdings To Absorb Manroland in 2013
Langley Holdings release 2012 Annual Report, to absorb manroland as division in 2013: Langley Holdings PLC, the engineering group behind press builder Manroland Sheetfed, announced it's 2012 results today. Langley Holdings PLC, which is controlled by British industrialist Tony Langley, who is also Chairman of the Manroland Sheetfed, recorded a profit before tax of €121.3 million (2011: €76.3m), including a non-recurring gain of €25.2m (2011: nil).
Manroland Sheetfed is not as yet incorporated within the Langley Holdings PLC group and will report its results in March. However, unaudited headline figures are included in the Chairman’s Review and the company says that it intends to formally bring the press builder into the group as a division later this year.
“Green Teams” Save The USPS Money
http://blogs.whattheythink.com/going-green/2013/02/green-teams-save-the-usps-money/?utm_source=dlvr.it&utm_medium=twitter&utm_campaign=whattheythink
Although the ongoing saga of the embattled U.S. Postal Service is well documented by our friend Mr. Tree (if that is his name), at the very least the USPS is reducing its environmental footprint, and saving money at the same time. Says Environmental Leader: The US Postal Service says it saved more than $52 million in 2012 by reducing energy, water, consumables, petroleum fuel use and solid waste to landfills, and generated nearly $24 million in revenue by recycling. The agency uses employee-based “green teams” to identify ways of reducing material consumption, boosting recycling, avoiding landfill fees, cutting vehicle emissions, and other “no-cost or low-cost” sustainability actions.
Although the ongoing saga of the embattled U.S. Postal Service is well documented by our friend Mr. Tree (if that is his name), at the very least the USPS is reducing its environmental footprint, and saving money at the same time. Says Environmental Leader: The US Postal Service says it saved more than $52 million in 2012 by reducing energy, water, consumables, petroleum fuel use and solid waste to landfills, and generated nearly $24 million in revenue by recycling. The agency uses employee-based “green teams” to identify ways of reducing material consumption, boosting recycling, avoiding landfill fees, cutting vehicle emissions, and other “no-cost or low-cost” sustainability actions.
Monday, February 4, 2013
Flambeau Completes Energy Project
With the help of Focus on
Energy, Wisconsin utilities' statewide program for energy efficiency and
renewable energy, and in partnership with Xcel Energy, Flambeau River Papers
has implemented an energy efficient Sulfur Burner and Heat Recovery Steam
Generator that will save over 600,000 therms of natural gas annually.
Union Threatens Strike at Sappi's Skowhegan, ME Mill
Officials at Sappi Fine Paper
offices in Boston on Friday said they are disappointed with a union vote
Thursday night that could set the stage for a strike.
Electrical workers voted against
a new contract, saying the next move is another meeting when workers can vote
on possible work stoppage.Thursday night that could set the stage for a strike.
"We
are disappointed that the International Brotherhood of Electrical Workers union
did not ratify the offer," Joanna Rieke, manager of corporate
communications said in a statement. "It is a very fair package, with 2
percent wage increases every year and improvements in the pension, with overall
wages and benefits that are extremely competitive for our industry."
Tentative Deal Averts Port Strikes
After twice avoiding strikes in
last-minutes moves over the last four months, negotiators reached agreement that
averts a Feb. 6 strike at and shutdown of 14 East and Gulf ports.
The tentative agreement between
US Maritime Alliance and the International Longshoremen's Association was
announced on Saturday by federal mediators. Federal Mediation and Conciliation
Service (FMCS) Dir George Cohen said the agreement, which is pending approval
by both groups' union members, was proof of the value of unions.
Marketers Continued Interest in Direct Mail
Marketers Decline Focus on Traditional Media...But Not Direct Mail (Digital Nirvana):
According to a survey conducted by Aquent and the American Marketing Association (AMA), nearly one in three marketers plans to decrease their organization’s focus on newspapers this year and approximately one-quarter plans to decrease focus on consumer magazines (28%), radio (24%), trade magazines (22%), and TV (21%). While that sounds scary, what’s interesting to me is that this doesn’t seem to include direct mail. Only 9% cited “direct marketing” as an area of declining focus. Why is that?
According to a survey conducted by Aquent and the American Marketing Association (AMA), nearly one in three marketers plans to decrease their organization’s focus on newspapers this year and approximately one-quarter plans to decrease focus on consumer magazines (28%), radio (24%), trade magazines (22%), and TV (21%). While that sounds scary, what’s interesting to me is that this doesn’t seem to include direct mail. Only 9% cited “direct marketing” as an area of declining focus. Why is that?
Ziff Davis Buys News Corp’s IGN
j2’s Ziff Davis Buys News Corp’s IGN:
j2 Global continues to build out its digital media portfolio with the acquisition of popular gamer lifestyle brand IGN Entertainment, a News Corp property.
Terms of the deal were not disclosed.
IGN--publisher of digital properties IGN.com, UGO.com, 1UP.com and AskMen.com--will officially fall under the purview of Ziff Davis, Inc.
"This is Ziff Davis' sixth acquisition in under three years and a transformative one," Vivek Shah, Ziff Davis CEO, tells Folio: in an email. "We continue to believe the tech and gaming vertical is one of the most attractive in digital media. The combined reach and scale of the companies places us in the upper echelon of digital media companies."
j2 Global continues to build out its digital media portfolio with the acquisition of popular gamer lifestyle brand IGN Entertainment, a News Corp property.
Terms of the deal were not disclosed.
IGN--publisher of digital properties IGN.com, UGO.com, 1UP.com and AskMen.com--will officially fall under the purview of Ziff Davis, Inc.
"This is Ziff Davis' sixth acquisition in under three years and a transformative one," Vivek Shah, Ziff Davis CEO, tells Folio: in an email. "We continue to believe the tech and gaming vertical is one of the most attractive in digital media. The combined reach and scale of the companies places us in the upper echelon of digital media companies."
I-5 Publishing Buys Special Interest Publisher BowTie
Cat Fancy Publisher Sold in 8-Figure Deal:
A newly formed joint venture between Mark Harris, co-founder and co-owner of National Publisher Services (NPS), and David Fry, chairman of NPI Ventures LLC and CTO of Fry Communications, called I-5 Publishing LLC has acquired the books, magazines and websites of special interest publisher BowTie Inc.
Terms of the deal were not released, but Harris and Fry ballparked it at $10 million-plus. Included in the sale are Cat Fancy, Dog Fancy, Pet Product News International, Horse Illustrated, Urban Farm, AnimalNetwork.com, DogChannel.com and books like Dog Heroes of September 11th and The Original Dog Bible.
A newly formed joint venture between Mark Harris, co-founder and co-owner of National Publisher Services (NPS), and David Fry, chairman of NPI Ventures LLC and CTO of Fry Communications, called I-5 Publishing LLC has acquired the books, magazines and websites of special interest publisher BowTie Inc.
Terms of the deal were not released, but Harris and Fry ballparked it at $10 million-plus. Included in the sale are Cat Fancy, Dog Fancy, Pet Product News International, Horse Illustrated, Urban Farm, AnimalNetwork.com, DogChannel.com and books like Dog Heroes of September 11th and The Original Dog Bible.
National Geographic Uses Google+ in Campaign
A Case Study in Google+: National Geographic:
To celebrate and promote National Geographic’s 125th anniversary campaign in January, the society used Google+ to court new and existing audiences in order to heighten awareness and engagement.
“If Alexander Graham Bell was imagining the National Geographic Society today and not 125 years ago and was trying to figure out a way to tell stories of exploration, he’d probably suggest a Google+ hangout,” says Amy Maniatis, chief marketing office for the National Geographic Society. “This is an emerging and rapidly growing platform that gives us a very unique way to make our story-telling incredibly successful and it lets folks participate.”
To celebrate and promote National Geographic’s 125th anniversary campaign in January, the society used Google+ to court new and existing audiences in order to heighten awareness and engagement.
“If Alexander Graham Bell was imagining the National Geographic Society today and not 125 years ago and was trying to figure out a way to tell stories of exploration, he’d probably suggest a Google+ hangout,” says Amy Maniatis, chief marketing office for the National Geographic Society. “This is an emerging and rapidly growing platform that gives us a very unique way to make our story-telling incredibly successful and it lets folks participate.”
Time Warner May Sell NY Headquarters
The company is considering a wide range of options, including selling the midtown Manhattan building and leasing it back, moving more employees into the building and closing other New York offices, or moving out from the building entirely, one source said on Wednesday.
Publishers See Gains in Luxury Ads
Glossy products still look best on the glossy
page.
Advertising for luxury brands is driving
increases in first-quarter ad pages at big magazine publishers, a welcome dose
of good news for companies that have grappled with layoffs, restructurings and
general malaise in a business whose fortunes have fallen as the online world
has grown.Conde Nast, Hearst Magazines, Time Inc and Rodale all expect a rise in ad pages sold in their magazines for the first quarter.
WSJ Launches Journal Report Digital Platform
http://www.btobonline.com/article/20130204/MEDIABUSINESS1204/302049996/wall-street-journal-debuts-digital-platform-for-journal-reports
The Wall Street Journal has introduced a full digital platform for Journal Reports, a print franchise of the Wall Street Journal that provides in-depth features and reporting.
The new digital platform, called
Journal Report, integrates traditional features of the print edition with
interactive features such as building online communities. The Wall Street Journal has introduced a full digital platform for Journal Reports, a print franchise of the Wall Street Journal that provides in-depth features and reporting.
Journal Reports, which will publish approximately 60 print reports as standalone sections in the Wall Street Journal this year, also announced a redesign, featuring new columns and a more graphic-intensive presentation.
Condé Nast Reports Best Q1 Ad Sales in 5 Years
Condé Nast expects to end their
first quarter (January-March) in 2013 with a 5% increase in ad pages,
surpassing results for the same period last year, announced Lou Cona, chief
marketing officer, Condé Nast. The company's sales success is due, in part, to
the continued strength of its core brands, including Vogue and Vanity
Fair, in addition to key performances of several other titles and in its
men's category.
USPS Employee Green Teams Help Save Money
The U.S. Postal Service saved more than $52
million in 2012 by reducing energy, water, consumables, petroleum fuel use and
solid waste to landfills, and generated nearly $24 million in revenue by
recycling. Together, these actions to save costs and generate revenue surpassed
$76 million.
Kodak Completes Sale of Digital Patents
Kodak Completes $527 Million Transaction Related to Digital Imaging Patents: Eastman Kodak has completed a transaction for the sale and licensing of its digital imaging patents for net proceeds of $527 million.
The transaction, which achieves one of Kodak’s key restructuring objectives, follows other recent major accomplishments that include final Court approval last week for the company’s interim and exit financing. Kodak’s monetization of IP assets further builds on its momentum toward emergence in mid-2013.
The transaction, which achieves one of Kodak’s key restructuring objectives, follows other recent major accomplishments that include final Court approval last week for the company’s interim and exit financing. Kodak’s monetization of IP assets further builds on its momentum toward emergence in mid-2013.
Friday, February 1, 2013
Domtar Reports 2012 and Q4 Results
FY 2012
For fiscal year 2012, net
earnings amounted to $172 million ($4.76 per share) compared to net earnings of
$365 million ($9.08 per share) for fiscal year 2011. The Company had earnings
before items1 of $233 million ($6.45 per share) for fiscal 2012
compared to earnings before items1 of $452 million ($11.24 per
share) for fiscal 2011. Sales amounted to $5.5 billion for fiscal year 2012.
Q4 2012
Domtar Corporation today
reported net earnings of $19 million ($0.54 per share) for the fourth quarter
of 2012 compared to net earnings of $66 million ($1.84 per share) for the third
quarter of 2012 and net earnings of $61 million ($1.63 per share) for the
fourth quarter of 2011. Sales for the fourth quarter of 2012 amounted to $1.3
billion.
Neenah Buys Southworth Premium Paper Brands
Neenah Paper, Inc. (NP)
announced today that it has completed the purchase of certain premium business
paper brands from the Southworth Company. These brands, including Southworth,
the category leader, are sold largely to major retail customers such as
Staples, Office Depot, Office Max and Walmart. Annual sales from the acquired
brands are approximately $20 million.
The
purchase was financed through the Company's existing credit facility and cash
on hand. Other terms of the purchase agreement were not disclosed.
U.S. Renewable-Energy Capacity Doubled
Renewable-energy capacity in the U.S. almost
doubled from 2009 to 2012, helping reduce the nation’s carbon-dioxide emissions
last year to the lowest since 1994, according to a Bloomberg New Energy Finance
report.
The cumulative installed solar, wind,
geothermal and biomass-based energy sources in the U.S. climbed to 85.7
gigawatts in 2012, compared with 43.5 gigawatts in 2008, the London-based
research company said in a report today.
U.S. energy consumption fell 6.4 percent from 2007 to 2012 as new, energy-efficient commercial buildings were built and older ones were retrofitted. There have also been “greater efforts from consumers to cut energy use,” including significant growth in sales of hybrid and electric vehicles, Zindler said.
New Yorker Plans New Verticals
The New Yorker, which has
launched several new Web channels over the past year, is continuing its digital
expansion with the launch of two new channels—one dedicated to Science and
Technology and the other to Business—in the coming months.
NYT Attacked by Chinese Hackers
The New York
Times was the victim of an elaborate hacking attack from China,
according to a report
in Wednesday's Times. The attacks, which
have been on-going for the past four months, were apparently in retaliation for
an article
the Times published about the vast wealth accumulated by Chinese Prime Minster
Wen Jiabao's family.
Hackers first gained access to the Times's system on September 13th, but the breach
wasn't noticed until October 26th, the day after the article was published and
two days after the Times had asked
AT&T to monitor its network for any unusual activity. The paper first
became suspicious after receiving warnings from the Chinese government that, if
their investigation continued, they would "have consequences." It
wasn't until November 7th that the Times
realized the hackers were still in their network, at which point they hired
Mandiant, an outside computer security company, to investigate.
MediaPost "Mag Bag"
Real Simple has launched a Weddings channel on its Web
site, RealSimple.com, according to Folio.
The channel consists of a dedicated home page with navigation to resources
including checklists, gift ideas, décor, hairstyle inspiration, and a wedding
planning boot camp...While Real Simple is launching new
content channels, it’s also taking hits on the personnel side, as part of the
layoffs announced by Time Inc. Adweek reported that
publisher Sally Preston, who joined Real Simple
in 2011 from Martha Stewart Living Omnimedia, is leaving Time Inc. Preston will
be replaced by Charlie Kammerer, previously group publisher of This Old House and Coastal
Living...
Young men know that it’s important to smell good. Alpha Media Group is launching a new line of men’s fragrances in partnership with Omni Scents. The “Maxim Fragrance Collection,” set to premiere in department stores and fragrance retailers in this fall...
Time Out North America has named Jennifer Morgan president, with responsibility
for all operations including online and print properties in both New York and
Los Angeles. Previously, she served as chief operating officer and chief
marketing officer at Collective...Young men know that it’s important to smell good. Alpha Media Group is launching a new line of men’s fragrances in partnership with Omni Scents. The “Maxim Fragrance Collection,” set to premiere in department stores and fragrance retailers in this fall...
Time Inc. Branded Solutions, the magazine publisher’s integrated sales and marketing division, announced two new hires this week. Stephanie Vautravers joined the division as executive director for digital sales, with responsibility for managing the New York digital sales team and serving the company’s largest East Coast clients. Barbara Leung has joined Time Inc. Brand Solutions as associate director for sales development. She previously worked at Conde Nast, where she most recently served as senior insights manager.
Buffett Still Interested in Newspapers
Warren Buffett's Berkshire Hathaway Inc. said
Thursday that is adding the Greensboro, N.C., News & Record to its growing
newspaper division.
Berkshire bought the 122-year-old daily
newspaper from Landmark Media Enterprises, based in Norfolk, Va.Financial terms were not disclosed. The Omaha World-Herald, which oversees Berkshire's newspaper division, reported that the News & Record has daily circulation of 58,000 and Sunday circulation of 86,000.
Amazon eBook Sales Up 70%
Despite
the sharp decline in net income, Amazon CEO Jeff Bezos hailed this as a
watershed moment for the company in a statement (below), “We’re now seeing the
transition we’ve been expecting. After 5 years, ebooks is a multi-billion
dollar category for us and growing fast – up approximately 70% last year. In
contrast, our physical book sales experienced the lowest December growth rate
in our 17 years as a book seller, up just 5%. We’re excited and very grateful
to our customers for their response to Kindle and our ever expanding ecosystem
and selection.”
Summit Business Media Sells Futures Magazine
Summit Business Media Sells Futures Magazine to Financial Media Startup: Summit Business Media is set to announce that it sold its Futures brand to The Alpha Pages llc, a Chicago-based financial media startup.
Augmented Reality and Magazine Publishers
Augmented Reality Brings New Ad Revenue Opportunities to Magazine Publishers: Free WhatTheyThink webinar, sponsored by Ricoh, discussed Use of Augmented Reality in Print Publications:
Research shows that 70% of mobile searches lead to action within one hour—and print can be an important vehicle for getting those mobile searches started. This session discussed how magazine publishers and marketers can use augmented reality to make print interactive and cause the initiation of some of those important mobile searches.”
Research shows that 70% of mobile searches lead to action within one hour—and print can be an important vehicle for getting those mobile searches started. This session discussed how magazine publishers and marketers can use augmented reality to make print interactive and cause the initiation of some of those important mobile searches.”
Thursday, January 31, 2013
UPM Reports Q4 and 2012 Earnings
Q4/2012
Earnings per
share excluding special items were EUR 0.19 (0.16), and reported EUR -2.84
(0.20)EBITDA was EUR 301 million, 11.4% of sales (301 million, 11.2% of sales)
Impairment charges of EUR 1,779 million were recorded in the Paper business area
Operating cash flow continued to be strong at EUR 352 million
Q1-Q4/2012
Earnings per
share excluding special items were EUR 0.70 (0.93), and reported EUR -2.39
(0.88)EBITDA was EUR 1,269 million, 12.2% of sales (1,383 million, 13.7% of sales)
Net debt decreased by EUR 582 million to EUR 3,010 million.
Catalyst Paper Completes Snowflake Sale
Catalyst Paper announced today
that it has completed the US Court approved sale of the Snowflake assets and
shares of Apache Railway. The Hackman Capital-led buyer group purchased the
assets of the closed Snowflake facility and the shares of Apache Railway for
US$13,460,000 and other non-monetary consideration. The transaction received
local support from the Town of Snowflake and other interests, based on the
buying group's intention to continue to operate the Apache Railway as a going
concern.
MeadWestvaco Reports Q4 Results
MeadWestvaco
Corporation, a global leader in packaging and packaging solutions announced
that total sales in the fourth quarter of 2012 increased 4 percent to $1.33
billion compared to fourth quarter of 2011. Excluding the effect of unfavorable
foreign currency exchange, sales grew 6 percent due to increased volume of
higher value products across most of the company's targeted packaging and
specialty chemicals markets, as well as from higher land sales. During the
quarter, the company had gains from its commercial excellence and innovation
initiatives that resulted in volume and market share growth in medical
dispensers, fragrance sprayers, beverage multi-packs, aseptic liquid packaging,
targeted food packaging and new chemical formulations for adhesives and
oilfield drilling markets. The company also benefited from the acquisitions of
Polytop (caps and closures), Ruby Macons Ltd. (corrugated packaging materials)
and Resitec (specialty chemicals).
AF&PA Elects Chairman
http://www.afandpa.org/
The American Forest & Paper Association (AF&PA) today announced the election of Graphic Packaging President and Chief Executive Officer (CEO) David Scheible as the new AF&PA board chairman, along with the 2013 slate of board officers.
The American Forest & Paper Association (AF&PA) today announced the election of Graphic Packaging President and Chief Executive Officer (CEO) David Scheible as the new AF&PA board chairman, along with the 2013 slate of board officers.
Buyer of Sartell Won't Reopen Mill
http://www.sctimes.com/article/20130130/NEWS01/301300036/Verso-won-t-reopen-paper-mill-
On Wednesday, Minnesota Public Radio (MPR) reported AIM Development “appears to be part of” American Iron & Metal Company Inc. Messages left by the Times with that Montreal-based firm were not returned.
Late in the evening, MPR identified American Iron & Metal Co. President and CEO Hebert Black, who said he plans to reuse the Verso paper mill’s buildings in an as-yet-undetermined development. Black said there is no market to operate a paper mill and that he hopes to get a better idea of site development during a planned February visit.
“We’re not going to run the paper mill. It’s gone,” Black told MPR.
AIM Development (USA) LLC, the
company that has agreed to buy the former Verso Paper Corp. mill in Sartell,
released little new information on its purchase Wednesday.
The city of Sartell has asked
Verso for contact information to reach out to AIM Development. That request was
declined, City Administrator Patti Gartland said.On Wednesday, Minnesota Public Radio (MPR) reported AIM Development “appears to be part of” American Iron & Metal Company Inc. Messages left by the Times with that Montreal-based firm were not returned.
Late in the evening, MPR identified American Iron & Metal Co. President and CEO Hebert Black, who said he plans to reuse the Verso paper mill’s buildings in an as-yet-undetermined development. Black said there is no market to operate a paper mill and that he hopes to get a better idea of site development during a planned February visit.
“We’re not going to run the paper mill. It’s gone,” Black told MPR.
Resolute Building Sawmill to Supply Thunder Bay
Resolute Forest Products today
announced the construction of a new sawmill in the area of Atikokan, Ontario.
This investment reflects Resolute's ongoing commitment to the solid wood
business and will provide significant economic opportunities for First Nations
in the region.
The Atikokan project will
involve the construction of a single line random length (16 ft) sawmill with an
annual capacity of 150 million board feet. Approximately 90 people will be
directly employed by the operation, and additional indirect positions will be
created for hauling finished lumber and residual chips. Final site selection in
the Atikokan area will be completed in the next few weeks, and construction is
anticipated to begin in the spring, with completion targeted for early 2014.
The capital cost of the project is estimated at C$50 million.
Congressman Tours ME Mills to Review Industry Challenges
Mike Michaud, a Maine congressman continued his tour
of the state’s paper mills, and expressed concern that the Port Hawkesbury mill in Canada is selling SC paper
below market price. He visited the NewPage paper mill Monday
afternoon as part of his ongoing tour. Michaud worked at the
Great Northern mill in East Millinocket for 29 years.
China's Buys 74% US RCP Exports
China purchased a
higher-than-usual amount of total US recovered paper exports in November, with
a 74% share, based on US Dept of Commerce, Bureau of Census figures.
Over the last several years,
about two of every three tons of recovered paper exported went to China and
that share has been rising this year to 70%.In November, China purchased almost 1.26 million out of a total of 1.70 million tones of exports.
With India included, 80% of the November total exports went to China and India.
Of old corrugated containers (OCC), nearly 90% of the total OCC exports went to China (83%) and India (5.6%).
Year-to-date, the US exported 18.2 million tonnes through November, down 5% vs 2011 exports through November. The decline was caused by drops in sales of mixed paper and old newspapers, which combined were down 703,000, and in pulp substitutes (down 540,000).
Brazil's National Bank P&P Investment Up 215%
Brazil's National Development
Bank (BNDES) funding to pulp and paper companies hit Real 3.97 billion ($ 1.95
billion) in 2012, a 215% raise over 2011's figures. According to a document
released by the bank last week, the pulp and paper sector was the third in the
country's industrial sector that most benefited from BNDES's financing last
year, receiving 11% of all cash lent to industries. The bank's total funding
for industries was Real 32 billion.
BNDES has been required by
almost all Brazilian companies to finance their expansion plans, more recently
including Eldorado's pulp project and Suzano's new pulp mill under construction
in Maranhão state. The bank is also Fibria's major shareholder, with a 30.38%
stake in the company.
IP CEO: Through Transformation, 'Not an M&A Story'
International Paper 'not an M&A story', says CEO:
International Paper is " through the transformation plan ", according to its CEO who said the company has been rebuilt and has performance potential with existing assets.
International Paper is " through the transformation plan ", according to its CEO who said the company has been rebuilt and has performance potential with existing assets.
Folio: People On The Move
People On The Move | 1.31.13:
Scholastic Parent & Child has named Elizabeth Shaw as its executive editor. Shaw was previously a freelance writer and editor.
Time Inc. has named Lora Gier as executive director of Shopper Link. Gier was previously vice president and publisher at Taste of Home.
Jennifer Morgan has been named president at Time Out North America. Morgan was formerly COO and CMO at Collective Media and more...
Scholastic Parent & Child has named Elizabeth Shaw as its executive editor. Shaw was previously a freelance writer and editor.
Time Inc. has named Lora Gier as executive director of Shopper Link. Gier was previously vice president and publisher at Taste of Home.
Jennifer Morgan has been named president at Time Out North America. Morgan was formerly COO and CMO at Collective Media and more...
Backstage Buys Sonicbids
Backstage Acquires Musician’s Job Board Sonicbids:
Backstage, the niche magazine for the acting and modeling community, is expanding its scope with the acquisition of Sonicbids, a social music marketing platform that connects bands, promoters, consumer brands and music fans.
This is the first major deal since the parent company of Backstage, Guggenheim Digital Media, changed its name from Prometheus Global Media and tapped former Yahoo! exec Ross Levinsohn as its CEO earlier this month.
According to The New York Times, the deal is estimated to be worth $15 million—a number John Amato, chairman and CEO of Backstage Media, declined to confirm.
Backstage, the niche magazine for the acting and modeling community, is expanding its scope with the acquisition of Sonicbids, a social music marketing platform that connects bands, promoters, consumer brands and music fans.
This is the first major deal since the parent company of Backstage, Guggenheim Digital Media, changed its name from Prometheus Global Media and tapped former Yahoo! exec Ross Levinsohn as its CEO earlier this month.
According to The New York Times, the deal is estimated to be worth $15 million—a number John Amato, chairman and CEO of Backstage Media, declined to confirm.
Q3 Global Ad Spending Up 3.3%
Nielsen: Global Spending On Ad Spend On the Rise: According to Nielsen, global ad spend has risen 3.3% YOY. TV ads (61.8%) commanded the majority of global ad spend. The next largest spends: newspaper (19.7%), followed by magazine (7.9%).
More B-to-B Titles Using Brand Audit Report
B-to-B Titles Using Brand Audit Report Quadruples Year-Over-Year:
There are a variety of signals that point to the growing importance of measuring and tracking audience across a brand's platform. On the ad side you have the explosion of marketing services and on the audience side there's the continued push for integrated databases.
Another indication could be the sudden and rapid increase of brands utilizing BPA's Brand Report. In the last year, the number of titles reporting cross-platform audience metrics has more than quadrupled. A total of 295 titles are now reporting their audience metrics across channels.
According to the BPA, the healthcare category has the most titles, at 87, using the report, followed by manufacturing (38) and legal & financial services (33).
There are a variety of signals that point to the growing importance of measuring and tracking audience across a brand's platform. On the ad side you have the explosion of marketing services and on the audience side there's the continued push for integrated databases.
Another indication could be the sudden and rapid increase of brands utilizing BPA's Brand Report. In the last year, the number of titles reporting cross-platform audience metrics has more than quadrupled. A total of 295 titles are now reporting their audience metrics across channels.
According to the BPA, the healthcare category has the most titles, at 87, using the report, followed by manufacturing (38) and legal & financial services (33).
Berkery Noyes Releases M&A Report
Berkery Noyes, an independent mid-market
investment bank, has released its full year 2012 mergers
and acquisitions trend report for the Media and Marketing
Industry. The report analyzes M&A activity in the Media and Marketing
Industry during 2012 and compares it with data covering 2010 and 2011.
Berkery Noyes’ research showed that deal volume increased three percent on a year-to-year basis, from 1,570 transactions to 1,611 transactions, and rose 22 percent relative to 2010. Aggregate transaction value showed a gain of 17 percent, from $65.41 billion in 2011 to $76.23 billion in 2012. The median revenue multiple declined from 1.8x to 1.3x, while the median EBITDA multiple fell from 9.8x to 7.5x. Strategic acquirers represented 87 percent of the Media and Marketing Industry’s deal volume, which was the same percentage as in 2011.
Berkery Noyes’ research showed that deal volume increased three percent on a year-to-year basis, from 1,570 transactions to 1,611 transactions, and rose 22 percent relative to 2010. Aggregate transaction value showed a gain of 17 percent, from $65.41 billion in 2011 to $76.23 billion in 2012. The median revenue multiple declined from 1.8x to 1.3x, while the median EBITDA multiple fell from 9.8x to 7.5x. Strategic acquirers represented 87 percent of the Media and Marketing Industry’s deal volume, which was the same percentage as in 2011.
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