Catalyst Paper Obtains Financing

Catalyst Paper obtains financing required to emerge from creditor protection:
Catalyst Paper has entered into a commitment letter with a Canadian chartered bank for a $175 million syndicated asset based loan facility (ABL Facility) maturing on the earlier of 5 years from date of closing and 90 days prior to maturity of any significant debt.
The ABL Facility is a pre-condition for Catalyst to exit from creditor protection and would provide for the refinancing of existing credit facilities to fund the operations of the company on exit from creditor protection and for general corporate purposes thereafter.

Great Northern Starts Second PM

http://bangordailynews.com/2012/08/02/business/east-millinocket-paper-mill-plans-to-hire-37-more-workers-start-up-second-papermaking-machine/

Less than a year after its revival, the Great Northern Paper Co. plans to get a second paper machine, PM 5, up and running in East Millinocket. When the mill resumed operations last fall, productions started on machine No. 6. The mill manufactures uncoated mechanical paper.

Price Fixing Lawsuit Revived

US court revives Stora Enso paper price-fixing case:
A federal appeals court in New York revived on Monday an antitrust lawsuit in which purchasers accused a unit of Finland's Stora Enso Oyj of conspiring to fix prices of coated paper used in magazines. The 2nd U.S. Circuit Court of Appeals said a lower court erred in dismissing the case against Stora Enso North America Corp, because a jury could reasonably find that it entered an unlawful agreement with Finland's UPM-Kymmene Oyj to raise the price of so-called "publication paper."

Irving vs. New Brunswick Commission

J.D. Irving vs. New Brunswick Forest Products Commission:
The New Brunswick Forest Products Commission ruled that J.D. Irving must buy wood through the marketing boards. J.D. Irving prefers to negotiate privately with individual woodlot owners, picking and choosing which buyers to do business with.  The company wants to enter into a signed contractual agreement with the woodlot owners they deal with. As a protest to the ruling, J.D. Irving has suspended deliveries of pulpwood from private woodlot owners that they do not have a signed contract with.

CQ Roll Call Combines Brands into One

CQ Roll Call to fold brands into single print publication: The Economist Group's CQ Roll Call, which publishes several media products that cover Congress, is consolidating all its brands into one daily print publication. CQ Roll Call's portfolio includes CQ Today, CQ Weekly, Roll Call and TranscriptsWire, a database of congressional transcripts.

Open Sky Media Buys Gulfshore Media

Open Sky Media Buys Gulfshore Media Properties:
Open Sky Media, a portfolio company of Chicago-based private equity firm Hadley Capital, is expanding its network of regional magazines with acquisition of several properties from Gulfshore Media LLC. Terms of the deal were not released.

Reader's Digest Makes Exec Change

http://www.nypost.com/f/print/news/business/embattled_magazine_digesting_bad_dLlpCp7myJSAioJ6FQrHNO

Reader’s Digest Association announced last week as Dan Lagani, the head of its North American operations, has left the company.

Chief Executive Robert Guth will take over direct responsibility for the flagship magazine, according to an e-mail sent to employees.

Quad/Graphics Announces Changes

Quad/Graphics to Lay Off 50 to 60 People by End of Year: Quad/Graphics confirmed today it will cut between 50 and 60 jobs at the Kerper Boulevard plant in Dubuque (IA) by the end of the year. The company also cut 24 jobs at the Dubuque plant in May and said it was “looking at ways to maximize its its efficiency and competitive platform,” according to Claire Ho, director of corporate communications.

Q1 Global Ad Spending Up

Nielsen: Ad spending worldwide on the rise: According to Nielsen's “Global AdView Pulse,” worldwide ad expenditures were up 3.1% overall in the first quarter compared with the same period last year.