Verso Reports Talks with Holders of NewPage Notes; NewPage Reacts

Verso Paper Corp. Announces Discussions with Holders of First-Lien Notes of NewPage Corporation Regarding Potential Business Combination:MEMPHIS, Tenn, USA, Verso Paper Corp. (NYSE:VRS) announced today that it has held discussions with certain holders of the 11.375% first-lien senior secured notes of NewPage Corporation in an effort to achieve a potential business combination involving Verso and NewPage as part of a consensual plan of reorganization in NewPage’s Chapter 11 bankruptcy proceedings...The terms of Verso’s proposed transaction would provide NewPage’s first-lien noteholders with $1.425 billion of value...In addition, the proposed transaction would include a 100% recovery in cash to repay NewPage’s debtor-in-possession financing...Verso believes that a combination with NewPage would create a stronger business in the global coated and supercalendered paper industry because of the material cost savings that would be achieved.

Separately, It was reported that NewPage sees significant downside risks in Verso combination and does not expect this to be further discussed;

NewPage Corporation (NewPage) today announced that it has been engaged in a series of discussions with its various constituents, including first lien note holders, second lien note holders and the Unsecured Creditors' Committee, in an effort to finalize a consensual Chapter 11 plan. Information relating to these discussions has been posted on the NewPage restructuring website www.NewPageRestructuring.com.

UPM in Negotiations to Sell Stracel

UPM enters negotiations for the sale of its Stracel paper mill
UPM is entering into exclusive negotiations with VPK Packaging Group NV and Klingele Papierwerke through their newly created joint venture company, for the sale of assets and part of the land at the UPM Stracel paper mill site in Strasbourg, France.

CEPI Releases 2011 Statistics

http://www.cepi.org/Content/Default.asp?PageID=558&DocID=36450

The Confederation of European Paper Industries has just released its latest statistics which give a clear picture of the performance of the industry in 2011. These key statistics include data about production, consumption and the trade of pulp, paper and raw materials, as well as data concerning energy, the environment, and social affairs.

Oji in JV to Expand Specialty Paper Base

http://www.ojipaper.co.jp/english/news/2012/release_20120703.html

Pursuant to the resolution passed at a meeting of the board of directors held on June 28, 2012, Oji Paper Co., Ltd. ("Oji Paper") is pleased to announce that it has entered an agreement with Shandong Century Sunshine Paper Group Co., Ltd ("Century Sunshine Paper") in China and Dragon Chariot Limited ("Dragon Chariot") in Hong Kong concerning the implementation of specialty paper business in China by establishing a joint venture. Oji Paper Group is driving the emergence and expansion in the specialty paper sector in China expected to be growth field in the future. After completing the incorporation formalities of such joint venture, Oji Paper Group will hold a new specialty paper manufacturing base in China.

China Buys 75% of US OCC Exports

In the first four months of 2012, China purchased 75% of all US exports of old corrugated containers (OCC) -- a major share increase from five years earlier as containerboard capacity in China steady increased the last five years and is expected to continue rising over the next two years.

This year through April, the US exported 2.4 million tonnes of OCC to China, according to figures from the US Dept of Commerce, Bureau of Census. In 2007, the US shipped 822,000 tonnes or 51% of total OCC exports to China.

International Paper Completes Mill Divestitures

International Paper Completes Mill Divestitures: International Paper today announced that it has finalized the sale of its Ontario and Oxnard, California containerboard mills to New-Indy Containerboard LLC, along with its New Johnsonville, Tennessee containerboard mill to Hood Container Corporation.

RDA Sells Direct To Consumer Business

RDA Sells Its Direct To Consumer Business:
Reader's Digest Association announced today that it made good on its efforts to dispose of its Lifestyle and Entertainment Direct business—part of a process the company has been going through to dispose of non-core assets, simplify its operation and zero in on only its best performing products.

Disney Store POS Rollout Boosts Sales 25%

http://risnews.edgl.com/retail-best-practices/Disney-Store-POS-Rollout-Boosts-Sales-25--at-Upgraded-Sites80920?rssid=Article80920   The rollout of a new point-of-sale system integrated with iPod Touch devices for store associates was the centerpiece of a major technology upgrade/remodeling initiative at 320 Disney Store locations. Customer traffic in the remodeled stores has increased 20% and sales have climbed 25%, according to Ron Johnson, director of technology for Disney Stores.

Sports Illustrated NBC TV Show

http://www.mediapost.com/publications/article/178060/nbc-sports-illustrated-team-for-show.html?print

TV networks are turning into magazines and magazines are turning into TV shows. The latest crossover in the latter category coming from Sports Illustrated in collaboration with NBC Sports.

The two media brands are coming together to create a show, “Sports Illustrated,” which will include feature segments, original reporting and commentary from the magazine’s editorial staff.
Sports Illustrated will cross-promote the show with print editorial features highlighting subjects from the TV series, along with additional content appearing on SI.com and NBCSports.com.
SI’s journey from print to TV mirrors the earlier migration of cable sports broadcaster ESPN from TV to print, with the launch of ESPN The Magazine in 1998. While still the dominant sports network on TV, ESPN lags SI in print somewhat, with a paid circ of around 2 million for ESPN The Magazine in the second half of last year, versus 2.8 million for SI, according to the Audit Bureau of Circulations.

Prometheus Global Media Names CEO

http://www.btobonline.com/article/20120703/MEDIABUSINESS06/307039999/mattison-named-ceo-of-prometheus-global-media-after-beckmans-exit

Prometheus Global Media, which publishes Billboard and The Hollywood Reporter, has named Guggenheim Partners Senior Managing Director Dottie Mattison CEO of the company. Guggenheim Partners is an owner of Prometheus.

Mattison succeeds Richard Beckman, who stepped down as CEO last week. Prior to joining Guggenheim Partners in 2010, Mattison was senior VP-general manager of the Apparel Global Merchandising Center of Wal-Mart Stores.