Catalyst Paper Announces Completion of Reorganization

Catalyst Paper announces successful completion of reorganization:
Catalyst Paper has successfully completed its previously announced reorganization pursuant to its Second Amended and Restated Plan of Compromise and Arrangement (the Amended Plan) under the Companies’ Creditors Arrangement Act. 
As a result of the reorganization and related transactions, Catalyst reduced its debt by $390 million, eliminated $80 million of accrued interest and reduced annual interest expense and other cash costs by approximately $70 million.

Port Hawk.: Canada Revenue Agency Rejects Tax Deal & Other News

Canada Revenue Agency rejects Pacific West Commercial Corp’s tax deal:
Canada Revenue Agency has rejected the tax deal Pacific West Commercial Corp. had proposed as part of their proposal to purchase the NewPage Port Hawkesbury mill.
The rejected proposal would have allowed Pacific West Commercial Corp. to use $1 billion of accumulated losses by NewPage against its taxes.  Also, Nova Scotia Power would become a 30% owner in the mill and get paid in tax free dividends.

http://www.capebretonpost.com/News/Local/2012-09-11/article-3073148/No-plans-to-sell-or-dismantle-PM1/1

If the sale of the NewPage Port Hawkesbury mill goes ahead there are no plans to dismantle or sell the mill’s older newsprint machine, even though it will not operate, an official with the company working to buy it says.

http://www.capebretonpost.com/News/Local/2012-09-12/article-3073924/County-appealing-decision-on-mill-tax-deal/1

Richmond County is appealing a Nova Scotia Supreme Court decision that allowed a bid by the company looking to reopen the NewPage paper mill to cancel its municipal tax deal to go ahead.

http://thechronicleherald.ca/business/135259-newpage-mill-could-produce-more-than-paper-executive

The prospective owner of the idled NewPage Port Hawkesbury mill in Cape Breton says the company is looking at options to diversify markets for the mill’s products.

Marc Dube, the restructuring manager for Pacific West Commercial Corp., told the Antigonish Chamber of Commerce on Wednesday that would mean making more than paper from their fibre supply, including extracting sugar, which can also be used in pharmaceuticals and cosmetics.

Voith Paper Settles with Workers' Council

In conclusion of their discussions about the restructuring measures at Voith Paper, the chief negotiators of Voith Paper and the relevant Workers' Council Committees have settled for a reconciliation of interests on September 11, 2012. The company will eliminate 670 jobs in Germany and Austria.

In May 2012, Voith Paper had announced restructuring measures due to a structurally induced ongoing decline in sales in the field of graphic paper machines.

Reader's Digest Returns to 12 Issues a Year

http://adage.com/article/media/reader-s-digest-increases-frequency-countering-magazine-trends/237211/

Reader's Digest is making an unusual move for the magazine industry today: Next year it will increase its annual frequency from 10 to 12 issues. 

The move undoes a frequency reduction that took effect in 2010 as part of a broader "transformation into an innovative multimedia brand" that also included cutting print circulation to 5.5 million from 8 million. Reader's Digest Association today attributed the increase to demand from digital subscribers.

Coastal Living & Wayfair in Collaborative Effort

Coastal Living Partners with E-Retailer Wayfair: Along with home-furnishing e-retail giant Wayfair, Coastal Living will now offer a number of products to readers through a collaborative e-commerce effort. The joint site features home décor items that have been curated from both the preexisting Coastal Living Collection and from Wayfair’s larger network, while the companies will share revenues generated from the collaboration.

H1 B-to-B Revenue Up 3.3%

B-to-b media revenue up 3.3% in first half: Total b-to-b media revenue rose 3.3% to $12.49 billion in the first half of the year, compared with the year-earlier period, according to Business Information Network data released by American Business Media.

"People" Launches New Campaign

http://eon.businesswire.com/news/eon/20120912006373/en/PEOPLE-magazine/PEOPLE-ad-campaign/People-Love-PEOPLE

PEOPLE magazine, the No. 1 celebrity weekly, announces the magazine industry’s first-ever fully integrated brand marketing campaign, “People Love PEOPLE,” which launches nationwide today across broadcast, print, retail, digital and social media and is scheduled to run throughout 2013.

PennWell Acquires Public Safety Group

PennWell Acquires Public Safety Group from Elsevier:
Tulsa-based PennWell has acquired the Public Safety Group from Elsevier. Included in the deal are the Journal of Emergency Medical Services (JEMS), the EMS Today Conference & Exposition, FireRescue, Law Officer and associated websites, events, blogs and newsletters. Terms of the deal were not released.