Date

Wed - 13.12.2017


Print Data

Yahoo! has been looking to sell European comparison shopping service Kelkoo for some time, and has found a buyer in UK private equity firm Jamplant, paidContent reported Friday.

Yahoo! bought Kelkoo in 2004 for €475 million, and will sell it to Jamplant for less than €100 million, in a loss-making deal of at least €375 million.

Former Kelkoo CEO Pierre Chappaz stated in his blog that he would not confirm an exact price, only that it is “below 100 million euros,” paidContent reported. “The difference is the price of management incompetence that led Yahoo's (stock price to fall) below $9,” Chappaz added.

Kelkoo is located in Grenoble and London and has 270 staff. Jamplant is a new investment group created by price comparison site Uswitch, which was sold to E.W. Scripps in 2006 for £210 million, according to paidContent.

Tags

Author

Leah McBride Mensching

Date

2008-11-24 19:03

Russian publishing house Kommersant may shut down or temporarily halt publication of Avtopilot, an automobile magazine, Lenta.ru reported Monday.

The firm's Commercial Director Pavel Filenkov said that a final decision would be made by December 1 and that the probability that Avtopilot would close is "very high.”

In 2008, the magazine had not made sufficient profits and in the beginning of next year, Avtopilot may experience financial damages, Lenta.ru reported.

Last Friday, Russian publisher Forward Media Group announced the closure of two of its magazines, Car and Empire.

Kommersant also publishes a daily newspaper under the same name, Kommersant, as well as financial magazine Dengi and business magazine Sekret Firmi.

Tags

Author

Alisa Zykova

Date

2008-11-24 18:23

Although journalists in every age group and across all coverage areas are increasingly adopting social media tools and incorporating them into daily work, “Millennial Generation” journalists have the highest usage and highest hopes for these tools, a new study from Middleberg Communications and the Society for New Communications Research has found.

The “rapid adoption of new media and online communication among all journalists” is the “most dramatic and significant finding of this new survey,” MiddleBerg Communications stated. “The disparity in usage and perceived value of these new tools and technologies to the future of journalism is particularly striking among the youngest demographic versus the oldest.”

According to study, 100 percent of millennial respondents, those ages 18 to 29, believe “new media and communications tools are enhancing journalism,” while just 40 percent of journalists ages 50 to 64 believe the same, reported the New Communications Review, published by the SNCR.

Meanwhile, 87 percent of the younger age group believe bloggers “have become important opinion shapers,” compared to 60 percent of and the older generation, and 87 percent of those in the younger group also believe that “new media and communications enhances the relationship with their audience,” versus 42 percent of the older group.

Tags

Author

Leah McBride Mensching

Date

2008-11-24 17:50

The Philadelphia Inquirer has launched a new bimonthly “luxury and lifestyle” glossy magazine for the wealthy, bundled into 115,000 newspapers distributed to home delivery customers living in affluent postal code areas, the Associated Press reported.

The 56-page magazine, called I, is similar to The New York Times' T magazine and The Wall Street Journal's WSJ., and will be distributed six times each year. It will include subjects such as social events, dining, home decoration and fashion.

The Inquirer's arts and features editor, Sandra M. Clarke, will be in charge of the publication, according to the AP article, posted by Forbes.

The Inquirer showed off photos from Thursday's issue of I on its Web site, and allows users to purchase the photos online.

Tags

Author

Leah McBride Mensching

Date

2008-11-21 21:52

Free dailies located in southern European countries usually close down for the summer holidays, and free dailies in Switzerland are now considering doing the same, Newspaper Innovation reported Friday.

Located between the North and South, the country's free dailies Le Matin Bleu (published in the French speaking part of the country) and .ch (published in the German speaking part), are considering closing in the summer time as well.

Southern European countries that close down their free dailies in summer include Portugal, Spain, France, Greece and Italy. There are no free newspapers distributed in the months of August and part of July, Newspaper Innovation reported.

Other Swiss free papers 20 Minuten/Minutes and News, published in Tamedia, are not planning on closing throughout the summer months.

Tags

Author

Alexandra Zeumer

Date

2008-11-21 19:35

Harbinger Capital Partners Master Fund holds a 19.3 percent stake in The New York Times Co., and over the summer placed even more bets that the company's stock would go up; however, as Times Co. stock has dropped by about 50 percent, Harbinger is pulling away from a number of those bets, Editor & Publisher reported Wednesday.

Harbinger bet on the changing price of millions of Times Co. shares, making about 30 “equity swaps” with a brokerage firm in London that specialises in derivatives, E&P reported. Harbinger predicted in a “long” position that the prices would rise, and expected to collect the difference when the swap concluded. However, if the price goes down, as is currently the case, Harbinger would pay out the difference.

When the bets were placed, Harbinger claims the stock price at the time ranged from US$12.84 to $15.96 per share. Harbinger ended one swap at $7.47 last Friday, and one at $7.19 on Monday, E&P reported.

Tags

Author

Alexandra Zeumer

Date

2008-11-21 19:20

The New York Times Co. reflected the economic difficulties caused by plunging advertising revenues across the newspaper industry by cutting its quarterly dividend by 74 percent from 23 cents to 6 cents a share late Thursday, MarketWatch reported.

The trust for the founding Ochs-Sulzberger family stated that even though the move was “very difficult for all shareholders, it is the appropriate and prudent business response given the extraordinary challenges of the current economic environment.” The slash is one of the company's actions that serve to “decrease debt” and optimise its liquidity, said Chairman Arthur Sulzberger.

Prior to the announcement, shares had already dropped by almost 10 percent, closing at US$5.72. The firm's stock has declined by as much as 80 percent since 2005, MarketWatch reported. In the third quarter, the New York Times Co.'s total advertising income plunged by 14 percent, while classified advertising revenues fell by 29 percent.

All shareholders who were recorded as of Dec. 1 will receive the third-quarter dividend of 6 cents a share on Dec. 15. As the situation unfolds, the New York Times Co. board reports that it will be revising its dividend policy, according to MarketWatch.

Tags

Author

Alisa Zykova

Date

2008-11-21 19:03

The Daily Mail & General Trust's full-year profit fell 9 percent after advertising expenditure at its UK national Associated Newspaper division dropped 10 percent in October, the Cumbrian Business Gazette reported Thursday.

DMGT is looking to save £100 million in its national and regional newspaper divisions to combat sinking ad revenues, and has already cut 400 jobs in the past two months, the Daily Telegraph reported. Media outlets in Europe and North America have been hit hard as businesses have tightened their belts and cut advertising spending.

In all, pre-tax profits for the year fell to £262 million, the Daily Telegraph reported.

Another cost-cutting measure includes the possibility of merging London-based back offices with Independent News & Media, Martin Morgan, chief executive of DMGT, told the Daily Telegraph. The two groups are currently in talks.

However, the group also announced its non-advertising supported business, which makes up 50 percent of the group's overall revenue, saw profits rise over the year, the Business Gazette reported.

Tags

Author

Leah McBride Mensching

Date

2008-11-20 23:10

Media General Inc. Thursday announced its October revenues dropped 5.8 percent because the continuous publishing ad sales downturn offset the increasing revenues of interactive and political advertising, the Associated Press reported Thursday.

This group, which has newspaper and television operations, reported revenue for the period ended Nov. 2 declined from US$91.2 million to $85.9 million.

Classified ad sales plummeted 37.9 percent, which played a large part in publishing revenue dropping 16.9 percent, according to the AP report, posted by Forbes.com. Classifieds experience the most serious recession, due to downturns in real estate and auto, as well as rising unemployment rates.

However, the company's circulation revenue increased 4.6 percent to to price increases on daily single-copy and home-delivery, the AP reported.

The publishing sector has continued to suffer as more readers and advertisers migrate to the Web. The softening economics also aggravate the industry's troubles. Companies have tried reducing costs and ramping up Internet operations to deal with the shift.

Political ad sales did very well in October, due to presidential campaign spending, especially in Florida, North Carolina, Ohio and Virginia, Marshall Morton, Media General's president and chief executive, said in a statement, the AP reported. The broadcast group marked an 8.4 percent increase in revenue, as political ad sales were up $21 million, according to the AP.

Tags

Author

Erina Lin

Date

2008-11-20 22:52

UK regional newspaper publisher Johnston Press saw its share price go down again Wednesday, following a 20 percent drop Tuesday, allmediascotland.com reported Thursday.

Johnston Press publishes newspapers across the United Kingdom and Ireland, including The Scotsman, Evening Telegraph and The (Sheffield) Star.

The Edinburgh-based company dropped yesterday to close at £7.04, from £8 at the start of the day, allmediascotland reported.

For more of the group's stock information, visit the Johnston Press Web site.

Tags

Author

Alexandra Zeumer

Date

2008-11-20 22:31

Syndicate content

© 2015 WAN-IFRA - World Association of Newspapers and News Publishers

Footer Navigation