Condé
Nast is asking its publishers to cut 5 percent from their budgets as the weak
ad market is expected to bleed into the second half and beyond, company sources
tell Adweek.
Wednesday, September 19, 2012
Newsweek Daily Beast Names CEO
The
Newsweek Daily Beast Co. has named a new CEO as Barry Diller’s IAC forges a new
path for the news outlet and faces fresh questions about its future. Baba
Shetty [1], chief strategy officer/chief media officer at the ad
agency Hill Holiday, is now CEO of NewsBeast, replacing Stephen Colvin, who had
been with the Beast since its launch in 2009.
FedEx Increasing Rates
FedEx Corp. will increase shipping rates for FedEx Express by a net average of 3.9% for U.S. domestic, U.S. export and U.S. import services effective January 2, 2012.
The full average rate increase of 5.9% will be partially offset by adjusting the fuel price threshold at which the fuel surcharge begins, reducing the fuel surcharge by two percentage points.
Tuesday, September 18, 2012
UPM's ME Mill Most Affected By Pacific West Deal
http://bangordailynews.com/2012/09/17/business/nova-scotia-sweetens-deal-to-keep-paper-mill-restart-alive/
The UPM Maine mill that would be most affected by the restart of the Port Hawkesbury paper mill is in Madison, which produces 220,000 tons of paper a year and employs about 240 people. Both mills produce the same grade of supercalendered paper used for gloss magazines and catalogs.
Despite news that could have derailed the sale and reopening of a shuttered paper mill in this maritime province, Nova Scotia’s government on Friday said it would sweeten the already generous deal it has offered the mill’s prospective buyer in an effort to keep the sale on track and get the mill restarted by the end of the month. Pacific West Commercial Corp. is the potential buyer of the Port Hawkesbury paper mill from NewPage Corp. The provincial government has offered the company $124.5 million in loans and other assistance to help it restart the mill, which paper industry observers say would have a negative impact on Maine paper mills that make the same grade of supercalendered paper.
The UPM Maine mill that would be most affected by the restart of the Port Hawkesbury paper mill is in Madison, which produces 220,000 tons of paper a year and employs about 240 people. Both mills produce the same grade of supercalendered paper used for gloss magazines and catalogs.
Despite news that could have derailed the sale and reopening of a shuttered paper mill in this maritime province, Nova Scotia’s government on Friday said it would sweeten the already generous deal it has offered the mill’s prospective buyer in an effort to keep the sale on track and get the mill restarted by the end of the month. Pacific West Commercial Corp. is the potential buyer of the Port Hawkesbury paper mill from NewPage Corp. The provincial government has offered the company $124.5 million in loans and other assistance to help it restart the mill, which paper industry observers say would have a negative impact on Maine paper mills that make the same grade of supercalendered paper.
Another Blow Against Pacific West Comm Corp.
Another blow against Pacific West Commercial Corp.:
Pacific West Commercial Corp. has lost their tax battle with Richmond County, Nova Scotia.
The company wanted to pay just 1/6 of the municipal taxes that the previous owners paid. The current tax rate of $2.5 million was negotiated in 2006 with previous owner Stora Enso and was to remain in effect for 10 years. Pacific West Commercial Corp. asked the court to cancel that deal.
This afternoon the Supreme Court of Nova Scotia tossed Pacific West Commercial’s application out.
Pacific West Commercial Corp. has lost their tax battle with Richmond County, Nova Scotia.
The company wanted to pay just 1/6 of the municipal taxes that the previous owners paid. The current tax rate of $2.5 million was negotiated in 2006 with previous owner Stora Enso and was to remain in effect for 10 years. Pacific West Commercial Corp. asked the court to cancel that deal.
This afternoon the Supreme Court of Nova Scotia tossed Pacific West Commercial’s application out.
Catalyst Begins Sales Process For Snowflake Mill
http://www.heraldonline.com/2012/09/17/4269913/catalyst-begins-sales-process.htmly
Catalyst Paper
announced today that it has begun a sale process for its Snowflake mill and
associated assets in accordance with the US Court-approved sale and investor
solicitation procedures (SISP).
The Snowflake facility is located in the foothills of the
White Mountains in northeastern Arizona.
The assets for sale under the sale process include the equipment and
other assets associated with the paper mill, approximately 19,000 acres of land
and The Apache Railway Company.
Stora Enso Paperboard Joint Venture In Pakistan
Stora Enso to set up paperboard jv in Pakistan:
Finnish forest firm Stora Enso is to set up a paperboard joint venture in Pakistan with Packages Ltd as it shifts more focus from paper to the packaging business, it said on Tuesday.
Finnish forest firm Stora Enso is to set up a paperboard joint venture in Pakistan with Packages Ltd as it shifts more focus from paper to the packaging business, it said on Tuesday.
Metso Cuts up to 630 Jobs In Finland
UPDATE 1-Metso to cut up to 630 jobs in Finnish paper units:
Finnish engineer Metso plans to cut up to 630 jobs in its paper and pulp business in Finland, as a weaker economy and shift to digital media dent demand for paper machines.
Finnish engineer Metso plans to cut up to 630 jobs in its paper and pulp business in Finland, as a weaker economy and shift to digital media dent demand for paper machines.
How Startup Mag's Hold Onto Print
http://www.pbs.org/mediashift/2012/09/how-startup-magazines-crowdfund-crowdsource-and-hold-onto-print-261.html
Every few odd weeks or months, a story pondering the future of magazines resurfaces, generating an updated round of debate on this form of print media we aren't ready to let go. While recent pieces like David Carr's "Wondering How Far Magazine Will Fall" may dampen the spirits of those still holding out for a print magazine comeback, the land of startup magazines exhibits just enough novelty and success to keep print hope alive.
Every few odd weeks or months, a story pondering the future of magazines resurfaces, generating an updated round of debate on this form of print media we aren't ready to let go. While recent pieces like David Carr's "Wondering How Far Magazine Will Fall" may dampen the spirits of those still holding out for a print magazine comeback, the land of startup magazines exhibits just enough novelty and success to keep print hope alive.
Woman’s Day Looks Forward While Turning 75
http://www.nytimes.com/2012/09/17/business/media/womans-day-turns-75-while-looking-forward.html?_r=1
A magazine that was introduced when the newest technology to reach consumers was the radio soap opera wants to demonstrate its relevance to readers — and advertisers — with a commemoration of its 75th anniversary that is focused as much on the present and future as the past.
M arketers have joined in the yearlong celebration by, for
instance, sponsoring the anniversary event and gatefolds and including
Microsoft Tag bar codes in some ad pages they are buying in the October issue,
giving readers additional chances to win prizes. Those marketers include the
American Egg Board, Colgate-Palmolive, JetBlue, Kellogg (Special K), L’Oréal
(Garnier), Mylan (EpiPen), Silpada Designs, Stainmaster and UnitedHealthcare.
A magazine that was introduced when the newest technology to reach consumers was the radio soap opera wants to demonstrate its relevance to readers — and advertisers — with a commemoration of its 75th anniversary that is focused as much on the present and future as the past.
Am Exp "Departures" 2013 Rate Base Rises
http://www.minonline.com/news/Departures-2013-Rate-Base-Rises-to-900000_21154.html
Departures, the 23-year-old American Express Publishing Corp. magazine going to the company's ultra-affluent Centurian and Platinum Card members, will have a 900,000 rate base in 2013. That is +2.9% from the current 875,000 and +7.1% from the 840,000 guarantee that was in place when Steve DeLuca became publisher in June 2010.
Departures, the 23-year-old American Express Publishing Corp. magazine going to the company's ultra-affluent Centurian and Platinum Card members, will have a 900,000 rate base in 2013. That is +2.9% from the current 875,000 and +7.1% from the 840,000 guarantee that was in place when Steve DeLuca became publisher in June 2010.
Also healthy are Departures' advertising pages, with 2012's +3.3% differential (through July/August) atop year-end 2011's +45%. That earned DeLuca min's 2012 Sales Team Leader of the Year honors in June.
Condé Nast Plans French Vanity Fair
http://mediadecoder.blogs.nytimes.com/2012/09/17/cond-nast-plans-french-vanity-fair/
Vanity Fair magazine, which has been battling declining newsstand sales in the United States, is looking for more readers in Europe. Next year, Condé Nast is starting a monthly edition of Vanity Fair in France. The magazine will share the name of the American publication, but nearly 90 percent of the content will be original.
Vanity Fair magazine, which has been battling declining newsstand sales in the United States, is looking for more readers in Europe. Next year, Condé Nast is starting a monthly edition of Vanity Fair in France. The magazine will share the name of the American publication, but nearly 90 percent of the content will be original.
Prevention Mag to Revamp Direction
http://mediadecoder.blogs.nytimes.com/2012/09/16/prevention-magazine-to-revamp-its-direction/
Like many print publications, Prevention, a staple of supermarket checkout lines, has suffered from a drop in ad pages in the last year.“Unfortunately the advertising industry has always worshiped at a younger altar,” said Maria Rodale, the chairwoman and chief executive of Rodale, the magazine’s publisher.
Readers of Prevention will not change radically — the magazine is geared toward women in their 40s, 50s and 60s — but the magazine will. Starting in January, Prevention will have a new editorial direction, a new look and new contributors to start the year.
Like many print publications, Prevention, a staple of supermarket checkout lines, has suffered from a drop in ad pages in the last year.“Unfortunately the advertising industry has always worshiped at a younger altar,” said Maria Rodale, the chairwoman and chief executive of Rodale, the magazine’s publisher.
Readers of Prevention will not change radically — the magazine is geared toward women in their 40s, 50s and 60s — but the magazine will. Starting in January, Prevention will have a new editorial direction, a new look and new contributors to start the year.
The Top 50 Mailers of 2012
http://www.targetmarketingmag.com/article/top-50-mailers-2012-the-7th-annual-listing-mailers-measured-volume/1
Big companies have ramped up their mailing in 2012. JPMorgan Chase & Co., Sprint/Nextel, Dish Network and Discover Financial Services are all on the list after none of them appeared in 2011 or 2010. In fact, according to our data JPMorgan Chase hasn't mailed this heavily in five years—since 2007 when the company reported a mere $99.9 billion in revenue.
This year for the first time we examined catalogers as part of our Top Mailers research. In the past, we have excluded these mailers because we thought they would dominate the list. Now, as mail and catalogs are becoming more integrated with digital technologies, that no longer makes sense. Plus, there would still be fewer catalogers on the 2012 Top 50 than nonprofits.
Big companies have ramped up their mailing in 2012. JPMorgan Chase & Co., Sprint/Nextel, Dish Network and Discover Financial Services are all on the list after none of them appeared in 2011 or 2010. In fact, according to our data JPMorgan Chase hasn't mailed this heavily in five years—since 2007 when the company reported a mere $99.9 billion in revenue.
This year for the first time we examined catalogers as part of our Top Mailers research. In the past, we have excluded these mailers because we thought they would dominate the list. Now, as mail and catalogs are becoming more integrated with digital technologies, that no longer makes sense. Plus, there would still be fewer catalogers on the 2012 Top 50 than nonprofits.
The Segerdahl Group Now SG360°
The Segerdahl Group Becomes SG360° to Reflect Business Shift: Boldly moving into the digital age of direct marketing, Segerdahl Group has undergone a full-scale identity shift. Launched today, the new SG360° is bringing “empirical direct marketing the new SG360° is bringing “empirical direct marketing solutions” to the marketplace with cutting-edge services and capabilities, including a proprietary customer analytics model.
BGP Secures Dennis Publishing Contract
http://www.pulpapernews.com/2012/09/bgp-secures-9m-dennis-publishing-contract
BGP has announced that it has signed a new three-year print contract with leading global publisher Dennis Publishing. The magazines that will be covered within the printing contract include such high profile titles as; The Week, Auto Express,Evo, Men’s Fitness and Viz. Other titles include publications such as Octane, Land Rover Monthly and computer titles PC Pro, Computer Shopper, Custom PC, Mac User and Micromart.
The contract will also cover the printing of Dennis Publishing’s various MagBooks, which are a book and magazine hybrid, sold on high-traffic newsstands.
BGP has announced that it has signed a new three-year print contract with leading global publisher Dennis Publishing. The magazines that will be covered within the printing contract include such high profile titles as; The Week, Auto Express,Evo, Men’s Fitness and Viz. Other titles include publications such as Octane, Land Rover Monthly and computer titles PC Pro, Computer Shopper, Custom PC, Mac User and Micromart.
The contract will also cover the printing of Dennis Publishing’s various MagBooks, which are a book and magazine hybrid, sold on high-traffic newsstands.
BtoB Study: Content Marketing Adoption Surges
http://www.btobonline.com/article/20120917/STRATEGY06/309179961/btob-study-content-marketing-adoption-surges#
The adoption of content marketing is surging among b2b marketers, according to a new study by BtoB. The study, “Content Marketing: Ready for Prime Time,” found 34% of marketers are “very” or “fully” engaged with content marketing this year, up from 18% last year. In addition, 66% of marketers project they will be “very” or “fully” committed to content marketing in 2013, according to the study, which was based on an online survey of 440 b2b marketing professionals conducted in April and May.
The adoption of content marketing is surging among b2b marketers, according to a new study by BtoB. The study, “Content Marketing: Ready for Prime Time,” found 34% of marketers are “very” or “fully” engaged with content marketing this year, up from 18% last year. In addition, 66% of marketers project they will be “very” or “fully” committed to content marketing in 2013, according to the study, which was based on an online survey of 440 b2b marketing professionals conducted in April and May.
First-Half BIN Numbers Show BtoB Industry Growth
ABM: First-Half BIN Numbers Show Overall B-to-B Industry Growth:
ABM recently released its BIN numbers for the first half of 2012 and print, the second-largest revenue component, is still struggling. The other three components tracked, however—events, digital and data—posted gains when compared to the first half of 2011, pushing revenue 3.3 percent higher.
ABM recently released its BIN numbers for the first half of 2012 and print, the second-largest revenue component, is still struggling. The other three components tracked, however—events, digital and data—posted gains when compared to the first half of 2011, pushing revenue 3.3 percent higher.
Popularity Of Consolidated Media Brand Grows
http://www.btobonline.com/article/20120917/MEDIABUSINESS/309179998/popularity-of-consolidated-media-brand-reports-grows
This month American City Business Journals began offering media buyers the Consolidated Media Report from the Audit Bureau of Circulations for 37 of its business newspapers. The CMR, a relatively new offering from ABC, measures the number of people the local business journals reach in print, via email newsletters, and through conferences and other forms of media.
This month American City Business Journals began offering media buyers the Consolidated Media Report from the Audit Bureau of Circulations for 37 of its business newspapers. The CMR, a relatively new offering from ABC, measures the number of people the local business journals reach in print, via email newsletters, and through conferences and other forms of media.
74% Of U.S. Consumers Plan To Use More Coupons
Strategic Savers Rely On Print and Digital Coupons: Although digital coupons and deals are growing in popularity, offline deals are no less popular. Eight out of 10 savvy shoppers rely on print coupons and circulars for savings.
Benetton Chairman Talks About New Ad Focus
http://adage.com/article/global-news/benetton-chairman-talks-ad-focus-unemployees/237263/
The latest chapter in Benetton's "Unhate" campaign has abandoned the shocking images of recent ads and instead focuses on an attempt to shift perceptions of unemployed young people. In something like an online version of "The Apprentice," Benetton has asked NEETS (a U.K. acronym for "not in education, employment or training") under the age of 30 to submit ideas for grassroots projects that will have a positive social impact. Mr. Benetton said he hopes that other companies will follow suit by providing similar opportunities to restore dignity to the younger generation. The "Unemployee of the Year" competition will be promoted online and in newspapers, magazines and on MTV.
The latest chapter in Benetton's "Unhate" campaign has abandoned the shocking images of recent ads and instead focuses on an attempt to shift perceptions of unemployed young people. In something like an online version of "The Apprentice," Benetton has asked NEETS (a U.K. acronym for "not in education, employment or training") under the age of 30 to submit ideas for grassroots projects that will have a positive social impact. Mr. Benetton said he hopes that other companies will follow suit by providing similar opportunities to restore dignity to the younger generation. The "Unemployee of the Year" competition will be promoted online and in newspapers, magazines and on MTV.
Monday, September 17, 2012
ForestTalk's Play-by-Play on Port Hawkesbury
Let’s look more at the $1 billion tax loss that is involved in the Port Hawkesbury Paper deal:
You may have heard the $1 billion figure thrown around in regards to the sale of NewPage Port Hawkesbury. Exactly what is the $1 billion in tax credits? Where did it come from? And how is it being transferred?
...Corporations aren’t taxed on their profits they may post during a year. They are taxed on their cumulative profit...NewPage Port Hawkesbury has accrued roughly $1 billion in tax losses that could be used to offset future profits...A mutually beneficial agreement with Nova Scotia Power could be the key to Pacific West Commercial Corp. successfully restarting and operating the mill.
Without a lower power rate, Pacific West Commercial Corp. would be no more likely to succeed than the mill’s recent two owners, NewPage and Stora Enso.
...What happens now that Canada Revenue Agency has denied the advanced tax ruling proposal...The Province of Nova Scotia has stepped in and offered to make more of its $124.5 million funding package for the mill forgivable.
ForestTalk.com.
You may have heard the $1 billion figure thrown around in regards to the sale of NewPage Port Hawkesbury. Exactly what is the $1 billion in tax credits? Where did it come from? And how is it being transferred?
...Corporations aren’t taxed on their profits they may post during a year. They are taxed on their cumulative profit...NewPage Port Hawkesbury has accrued roughly $1 billion in tax losses that could be used to offset future profits...A mutually beneficial agreement with Nova Scotia Power could be the key to Pacific West Commercial Corp. successfully restarting and operating the mill.
Without a lower power rate, Pacific West Commercial Corp. would be no more likely to succeed than the mill’s recent two owners, NewPage and Stora Enso.
...What happens now that Canada Revenue Agency has denied the advanced tax ruling proposal...The Province of Nova Scotia has stepped in and offered to make more of its $124.5 million funding package for the mill forgivable.
ForestTalk.com.
NS Restructures Port Hawk. Package After CRA Rejection
Though Pacific West Commercial Corp. had said a ruling in its favour was a condition of restarting the mill, the company said in a release Friday that it expects it can restart the facility by the end of the month.
Natural Resources Minister Charlie Parker said the province’s package will be “restructured” so more of the loans are forgivable. He said details will be released early next week.
The province’s assistance, announced in August, included $40 million in repayable loans, $26.5 million in forgivable loans, $20 million for the province to buy land, and $38 million over 10 years to support sustainable harvesting and forest land management.
Parker said the changes won’t leave taxpayers pouring more money into Pacific West Commercial Corp.’s operation at the former NewPage Port Hawkesbury mill in Point Tupper.
ArjoWiggins Closing Detail; 100M mt, Denmark
Arjowiggins
Graphic is announcing its intent to stop production at the Dalum paper mill
located at Odense Denmark before the end of the year.
The
Odense site is currently operating a 100MT capacity paper machine. The whole
paper production will be transferred to the other paper mills of the
Arjowiggins Graphic division. The full paper range produced by the Dalum paper
mill will be maintained within Arjowiggins' portfolio and customers will be
offered the same quality and service.
The
European Graphic demand has been structurally reducing at an annual rate of 6%
since a few years, generating over capacity within the European graphic paper
industry. The planned closure of the Dalum paper mill will contribute to the
necessary capacity adjustment of the industry and allow the optimization of the
capacity utilization of the Arjowiggins Graphic division.
Q2 Wood Costs Drop
Wood costs for the world’s pulp industry continued downward in the 2Q/12 with the biggest ...: ... declines in Brazil, Russia, Australia and Europe, reports the Wood Resource Quarterly
The costs of wood fiber for many pulp mills throughout the world continued to fall in the 2Q/12 and were at their lowest levels in over a year, according to the Wood Resource Quarterly. The greatest declines were seen in Brazil, Australia, Russia, Spain and US northwest, and Eastern Canada.
Wood fiber costs for the world’s pulp mills were down again in the 2Q/2012. Prices for wood chips and pulplogs in both local currencies and in US dollars fell in most of the 17 regions tracked by the Wood Resource Quarterly.
The costs of wood fiber for many pulp mills throughout the world continued to fall in the 2Q/12 and were at their lowest levels in over a year, according to the Wood Resource Quarterly. The greatest declines were seen in Brazil, Australia, Russia, Spain and US northwest, and Eastern Canada.
Wood fiber costs for the world’s pulp mills were down again in the 2Q/2012. Prices for wood chips and pulplogs in both local currencies and in US dollars fell in most of the 17 regions tracked by the Wood Resource Quarterly.
Plan to Protect Boreal Forest
Boreal forest areas in Ontario’s Northeast to be protected
Forest company and conservation group signatories to the Canadian Boreal Forest Agreement (CBFA) welcome Ontario’s support recently of their approach and joint recommendations on an action plan for an area of the province’s boreal forest almost five times the size of Metro Toronto.
The action plan recommendations aim to secure the future of the 3 million hectares of caribou range in the Abitibi River Forest to conserve Boreal woodland caribou and maintain hundreds of jobs in forestry.
Forest company and conservation group signatories to the Canadian Boreal Forest Agreement (CBFA) welcome Ontario’s support recently of their approach and joint recommendations on an action plan for an area of the province’s boreal forest almost five times the size of Metro Toronto.
The action plan recommendations aim to secure the future of the 3 million hectares of caribou range in the Abitibi River Forest to conserve Boreal woodland caribou and maintain hundreds of jobs in forestry.
Restoration Hardware Becomes RH
Restoration Hardware today announced the rebranding of the Company to RH, reflecting the current positioning and future direction of the brand.
Gary Friedman, RH Creator and Curator commented, "Today's RH is a far cry from the hardware and nostalgic discovery item based business it once was. Currently, we circulate four Source Books twice yearly, RH Home, RH Big Style Small Spaces™, RH Outdoor, and RH Baby & Child totaling over 1,400 pages of inspired design." Mr. Friedman continued, "The new branding positions us for the future and reflects our belief that we can curate a lifestyle beyond the four walls of the home."
"RH enhances our identity and moves us beyond our Hardware store beginnings," stated RH, CEO Carlos Alberini. "It enables us to leverage our core capabilities of innovation, curation, and integration of new ideas and businesses."
The new branding will debut on the cover of the Company's newly designed Fall 2012 Home and Big Style Small Spaces™ Source Books.
'WSJ.' Builds Towards Monthly Editions
'WSJ.' magazine to boost frequency: WSJ. magazine will increase its frequency starting next year. The magazine, which is part of WSJ Weekend, will publish 11 issues in 2013, up from 10 this year. The frequency will grow to 12 issues starting in 2014.
Time Inc. CEO's New Print/Digital PLan
Lang wants to give customers the ability to advertise across all 21 of Time Inc.’s magazines, both on the Web and in print, potentially reaching an audience of 127 million people in one fell swoop. That’s a break from the previous strategy, where the company typically suggested doing marketing campaigns via specific brands -- say, the print edition of People or Time.
2012 Report: $28 Billion Book Publishers Industry
http://www.heraldonline.com/2012/09/14/4263330/research-and-markets-2012-report.html
The US book publishing industry consists of about 2,800 companies with combined annual revenue of about $28 billion. Major companies include John Wiley & Sons, McGraw-Hill, Pearson, and Scholastic, as well as publishing units of large media companies such as HarperCollins (owned by News Corp); Random House (owned by Bertelsmann); and Simon & Schuster (owned by CBS). The industry is highly concentrated: the top 50 companies generate about 80 percent of revenue.
...The industry is capital-intensive: average annual revenue per worker is about $385,000... Textbooks and adult trade books each account for more than 25 percent of the market, professional books 23 percent, children's books 8 percent, and reference books 6 percent.
About 315,000 new books are published in the US every year, according to Bowker.
RRD to Close Tennessee Plant
RR Donnelley to Close Johnson City (TN) Location, 111 Affected: The Tennessee Department of Labor and Workforce Development says it received notification from RR Donnelley that it will permanently close its facility at 3201 Kimberly Court in Johnson City in early to mid November.
Friday, September 14, 2012
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.
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.
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.
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.
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.
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
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.
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
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.
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.
Thursday, September 13, 2012
Sequana Closing 3 Arjowiggins Paper Mills
Sequana
is continuing to deploy its strategy in line with the plan unveiled in July
2012...to bolster
its financial structure. This strategy aims to consolidate the Group's
positions by enhancing its production model to bring capacity into line with
demand and reduce its cost structure...
Consequently,
Arjowiggins has presented the social partners and employees with its plans to
close the Dalum Papir A/S plant in Denmark (graphic papers), the Ivybridge
plant in the UK (papers used for security documents, creative papers) and the
Witcel plant in Argentina (creative papers).
These capacity reductions represent a total of 126,000 tonnes.
These capacity reductions represent a total of 126,000 tonnes.
Ilim to Start 220M UWF PM This Fall
Ilim
Group is at the final stage of installing the 220,000 tonne/yr uncoated
woodfree (UWF) paper PM 7 at its Koryazhma mill in western Russia.
The
firm intends to start trial runs on the PM, which it originally bought from
IP's Inverurie mill in the UK, in November.
In
addition, at the end of Q1, Ilim plans to launch coated woodfree (CWF) paper
production on the offline coating machine, the firm told RISI. The PM
will be able to manufacture up to 70,000 tonnes/yr of CWF paper.
UPM Listed on Dow Jones Sustainability Indexes
UPM only forestry and paper company in the Dow Jones Sustainability Indexes
UPM’s Biofore vision and consistent work on corporate responsibility has gained recognition: UPM has been listed as the only forestry and paper company worldwide in the Dow Jones Sustainability Indexes.
The company has been selected both as a Supersector Leader in Basic Resources sector and Forestry & Paper Sector Leader for 2012-2013 in the Dow Jones Sustainability Index (DJSI). UPM was chosen as an index component for both to the European and World Sustainability Index for 2012-2013.
UPM’s Biofore vision and consistent work on corporate responsibility has gained recognition: UPM has been listed as the only forestry and paper company worldwide in the Dow Jones Sustainability Indexes.
The company has been selected both as a Supersector Leader in Basic Resources sector and Forestry & Paper Sector Leader for 2012-2013 in the Dow Jones Sustainability Index (DJSI). UPM was chosen as an index component for both to the European and World Sustainability Index for 2012-2013.
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Publisher Shutters Balance of Titles
Edmiston, a former president/CEO of Newsweek turned media investment-banker, said he would discontinue Nomad’s three remaining titles. They are Uncorked, a wine magazine; Snooth Wine Buyers’ Guide, which was distributed to users of the Snooth online wine guide; and Hemmings Classic Wheels, which was created for the eponymous car marketplace.
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