UPM Reports 2011 Results

UPM's EBITDA and operating cash flow improved in 2011:
EBITDA was EUR 301 million, 11.2% of sales (318 million, 13.5% of sales).
Delivery volumes decreased and variable costs remained high.
Operating cash flow continued to be strong at EUR 310 million.

DOJ Approves IP Temple-Inland Acquisition

http://www.paperage.com/2012news/02_10_2012ip_temple_antitrust.html

International Paper and Temple-Inland today announced that they have reached an agreement with the Antitrust Division of the U.S. Department of Justice  with respect to International Paper's acquisition of Temple-Inland. As part of the agreement, the DOJ has entered into a consent decree with International Paper and Temple-Inland that allows the combination to proceed. 

UPM Receives Claims of Euro 54.1 Million

http://www.upm.com/EN/MEDIA/All-news/Pages/Claims-related-to-the-Finnish-roundwood-market-delivered-to-UPM-001-Fri-10-Feb-2012-10-05.aspx

UPM has received claims relating to the Market Court decision on breaching competition rules in the Finnish roundwood market (3 December 2009).
The capital amounts of all of the claims amount to EUR 227.7 million in the aggregate jointly and severally from UPM and two other companies, or alternatively and individually from UPM in the aggregate EUR 54.1 million.  In addition to the claims on capital amounts, the claimants also claim for compensation relating to value added tax and interests.  

Resolute Reports Status of Fibrek Bid

Resolute Announces that Fibrek's Shareholder Rights Plan has been Cease Traded: AbitibiBowater Inc., doing business as Resolute Forest Products, today announced that the Bureau de décision et de révision (Québec) has ordered that all rights and securities issued or issuable under the shareholder rights plan (the "Rights Plan") of Fibrek Inc. be cease traded effective as of 3:00 p.m. (Eastern Standard Time) on February 13, 2012.

RDA Sells Weekly Reader to Scholastic

http://www.nypost.com/p/news/business/giants_cruz_salsas_his_way_into_BasdvNQ6GwHEIQhRqIKyMI

Reader’s Digest Association reported the sale of My Weekly Reader to Scholastic Inc. yesterday.

Time Names Group Publisher

http://adage.com/print/232679

Time Inc. has promoted Charlie Kammerer, publisher of This Old House Ventures since 2009, to the newly created post of group publisher in charge of This Old House and Coastal Living.

FT Not for Sale

http://www.btobonline.com/article/20120210/MEDIABUSINESS15/302109994/ft-not-for-sale-reports-growing-audience?utm_source=dailynewsletter&utm_medium=email&utm_content=editorial&utm_campaign=dailyclickthroughs

Responding to a story in the Guardian newspaper that reported Bloomberg and Thomson Reuters have negotiated to buy the Financial Times, a spokesperson from Pearson, the FT's owner, said in a statement: “The FT is a very valued and valuable part of Pearson. It is not for sale.”

Cottages & Gardens Launches New Title

http://www.minonline.com/news/New-York-Cottages-and-Gardens-to-Launch_19904.html

Luxury design publisher Cottages & Gardens will roll out a new title in March aimed at the affluent hoods of New York. New York Cottages & Gardens is targeting upper-income areas of the city, Westchester Country, Long Island and Hudson Valley.