Condé Nast Taking Brides Bimonthly, Boosts Mobile Interaction:
Brides is ratcheting back its print brand and investing more in its digital presence with a mobile-enhanced website. The 300,000-circ magazine is dropping down to a bimonthly frequency and the site will become fully mobile compatible and feature new tools and functionality to drive more engagement.
The magazine's last monthly issue will be December, with a January-March issue after that and then the bimonthly schedule will kick in with the April/May issue.
Thursday, August 2, 2012
Afar Media Makes Executive Changes
Afar Media Makes Executive Changes:
Three-year old Afar is taking advantage of some forward momentum on print and digital business by shifting co-founder Joe Diaz into more of a business development role as chief product officer—he was previously vice president of sales and brand development. Meanwhile, the sales team is getting three new executives as well as promoting from within.
Three-year old Afar is taking advantage of some forward momentum on print and digital business by shifting co-founder Joe Diaz into more of a business development role as chief product officer—he was previously vice president of sales and brand development. Meanwhile, the sales team is getting three new executives as well as promoting from within.
D&B May Be For Sale
Report: Dun & Bradstreet puts itself on the block: Short Hills, N.J.—Business and marketing information company Dun & Bradstreet has reportedly put itself on the market and hired investment banks to help with the sale.
USPS Defaults on $5.5 Billion Payment to Treasury
The United States Postal Service defaulted today on a $5.5 billion payment to the United States Treasury, which was intended to cover the healthcare benefits of the organization's future retirees.
On July 30, the USPS issued a statement warning of the August 1 default, as well as a subsequent $5.6 billion payment that will not be made due. According to the statement, the USPS says there should not be any disruption of service.
Wednesday, August 1, 2012
Resolute Forest Products Reports Q2 Results
Resolute Forest Products reports net loss of $20 million in second quarter, 2012:
Resolute Forest Products has reported a net loss of $20 million in its second quarter of 2012 on sales of $1.2 billion. This can be compared to a net income of $61 million on sales of $1.2 billion in the second quarter of 2011.
Resolute Forest Products has reported a net loss of $20 million in its second quarter of 2012 on sales of $1.2 billion. This can be compared to a net income of $61 million on sales of $1.2 billion in the second quarter of 2011.
Second Derailment Raises Concerns for Verso
After the second derailment in about as many months of a train going to or from the Verso mill, the papermaking plant is concerned.
The train that derailed early Sunday afternoon was carrying paper from Verso Paper Corp. when it went off the tracks at the intersection of Route 15, said Bill Cohen, a Verso spokesman.
Cohen said he couldn’t confirm how much paper was on the train, but said Verso was working with Pan Am Railways — which owns the tracks and operates the train — to assess how much product was damaged in the derailment.
Resolute Acquisition of Fibrek Moves Forward
Resolute Forest Products and Fibrek complete their second step arrangement:
/Resolute Forest Products Inc. and Fibrek Inc. have completed their previously announced second step plan of arrangement transaction, whereby Fibrek and RFP Acquisition Inc., a wholly-owned subsidiary of Resolute, have amalgamated resulting in Resolute indirectly owning 100% of the shares of Fibrek Inc.
This announcement comes following the approval of the arrangement by Fibrek’s shareholders on July 23, 2012 and the issuance of a final order of the Superior Court of Quebec on July 27, 2012 approving the arrangement.
/Resolute Forest Products Inc. and Fibrek Inc. have completed their previously announced second step plan of arrangement transaction, whereby Fibrek and RFP Acquisition Inc., a wholly-owned subsidiary of Resolute, have amalgamated resulting in Resolute indirectly owning 100% of the shares of Fibrek Inc.
This announcement comes following the approval of the arrangement by Fibrek’s shareholders on July 23, 2012 and the issuance of a final order of the Superior Court of Quebec on July 27, 2012 approving the arrangement.
Judge Approves Sale of SP Newsprint Assets
Judge Christopher Sontchi of the U.S. Bankruptcy Court for
the District of Delaware in Wilmington on July 27 signed an order approving the
bidding procedures of the newsprint producer.
According to court papers filed July 19, an affiliate of
secured lender GE Capital Corp. will be stalking-horse bidder for the assets in
a deal valued at $145 million. SPN AcquisitionCo LLC would credit-bid the
entire amount of GE Capital’s outstanding revolving loans and a portion of an
outstanding term loan for substantially all of the Greenwich, Conn., newsprint
producer’s assets.
Consumers Prefer Print Statements & Bills
Print Statements and Bills Still Favored by Many U.S. Consumers: A survey of more than 5,000 US households found that 71% of consumers open print financial statements and bills mailed to them, and 65% said they actually preferred to get a print copy of their bill or statement.
USPS Issues Sustainability Report
The Sustainability and Energy Scorecard of the USPS shows that it is on track to meet all of its goals, except reducing vehicle petroleum fuel use by 20 percent by 2015. The Scorecard is a reporting tool that federal government agencies use to publicly report on the progress of their sustainability goals. The USPS has experienced a 6.4 percent increase in fuel use, which earned it a “red” score, meaning it did not meet its goal to achieve a 10 percent reduction since 2005. All other goals earned a “green” score, which means they are on track to meet targets.
Tuesday, July 31, 2012
Catalyst Paper Closing Snowflake Mill
Catalyst Paper is permanently closing its Snowflake mill in Arizona:
Catalyst Paper has decided to permanently close its Snowflake recycle mill located in northeastern Arizona and its subsidiary the Apache Railway Company. The mill has two PMs with the capacity to produce ~400,000 stpy of newsprint and uncoated mechanical paper.
This follows extensive efforts to improve the operation’s financial performance in the face of intense supply input and market pressures. The operation is scheduled to shut production on September 30, 2012.
Catalyst Paper has decided to permanently close its Snowflake recycle mill located in northeastern Arizona and its subsidiary the Apache Railway Company. The mill has two PMs with the capacity to produce ~400,000 stpy of newsprint and uncoated mechanical paper.
This follows extensive efforts to improve the operation’s financial performance in the face of intense supply input and market pressures. The operation is scheduled to shut production on September 30, 2012.
RISI Names Richard Garneau "CEO of the Year"
Richard Garneau named 2012 North American CEO of the Year:
RISI today announced that Richard Garneau, President and Chief Executive Officer of Resolute Forest Products, has been selected as RISI’s 2012 North American CEO of the Year.
RISI today announced that Richard Garneau, President and Chief Executive Officer of Resolute Forest Products, has been selected as RISI’s 2012 North American CEO of the Year.
Domtar Reports Q2 Results
Domtar Corporation Reports Preliminary Second Quarter 2012 Financial Results: Domtar Corporation (NYSE: UFS) (TSX: UFS) today reported net earnings of $59 million ($1.61 per share) for the second quarter of 2012 compared to net earnings of $28 million ($0.76 per share) for the first quarter of 2012.
China's June RCP & Pulp Imports Fall
According to data from China Customs; China's
total recovered paper (RCP) imports fell 16.7% to nearly 2.346 million tonnes
in June, down from some 2.816 million tonnes in May.
China's total pulp imports fell 9.4% in June compared to the previous month, to nearly 1.354 million tonnes.
China's total pulp imports fell 9.4% in June compared to the previous month, to nearly 1.354 million tonnes.
Resolute Estimates Cost of Bowater Mersey Closing
Resolute Forest Products’ costs for closing Bowater Mersey:
Resolute Forest Products has amended their estimate for the cost they will incur for indefinitely idling the Bowater Mersey newsprint mill in Nova Scotia.
Resolute Forest Products now estimates that it will incur, on an accounting basis, a charge of approximately $18 million for severance and other termination benefits and approximately $77 million of asset impairment charges to reduce the carrying value of the mill assets.
Resolute Forest Products has amended their estimate for the cost they will incur for indefinitely idling the Bowater Mersey newsprint mill in Nova Scotia.
Resolute Forest Products now estimates that it will incur, on an accounting basis, a charge of approximately $18 million for severance and other termination benefits and approximately $77 million of asset impairment charges to reduce the carrying value of the mill assets.
USPS Default Coming, Congress Not Moved to Act
Looming U.S. Postal Service Default Shakes Mailers’ Confidence: Missing the health pre-payment, the first default in the agency’s history, would not cause interruptions in service or prevent the Postal Service from paying suppliers and employees, USPS spokesman David Partenheimer said in an email.
The U.S. Postal Service is bracing for a first-ever default on billions in payments due to the Treasury, adding to widening uncertainty about the mail agency’s solvency as first-class letters plummet and Congress deadlocks on ways to stem the red ink.
Cabela's Multi-Channel Future
Cabela's is taking initial steps to focus on a print-to-digital transformation. Last year, the company began to develop an approach to
transform our 51-year-old legacy catalog
business into an omni-channel enterprise.
New York Magazine & Dwell Annouce Venture
Dwell Media and New
York Magazine today unveil the name of their joint venture celebrating
design, now known as CITY
MODERN. The partnership is comprised of a joint-publication (out this
Fall), 10+ special design events the week of Oct 1-7, and modern home tours in
Manhattan & Brooklyn Oct 6 & 7.
Financial Times Digital Subscriptions Top Print
The Financial
Times’ digital subscribers surpassed its print customers for the first time,
marking a milestone that the New York Times and other newspapers with so-called
paywalls are aiming to reach.
The newspaper’s digital subscribers grew 31
percent to 300,000 paying readers, compared with a year ago, Financial Times
owner Pearson Plc (PSON) said today. Total circulation, including print,
increased to almost 600,000.
F+W Acquires Aspire Media
F+W Acquires Aspire Media: F+W has purchased Aspire Media, a Loveland, Colorado-based enthusiast publisher serving the craft market and backed by private equity firms Frontenac Company and Catalyst Investors. Terms of the deal were not released, but F+W CEO David Nussbaum says it will add another 30 percent of revenue to the company.
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