Date

Sun - 24.09.2017


shareholders

Late last Thursday Trinity Mirror’s CEO Sly Bailey announced that she would resign, facing the growing prospect of a shareholder rebellion over the size of her pay package, The Telegraph reports.  

Since Bailey took control of Trinity Mirror in 2003, she has taken home £14m in salary and bonuses, writes The Telegraph. In the same period, the publisher of the Daily and Sunday Mirror, The Daily Record, The People and a string of UK regional papers, has seen its share price drop by 90%. The Telegraph adds that Trinity Mirror’s pre-tax profits fell by 40% to £74m in 2011. Yet despite this drop, Press Gazette reports that during the past year Bailey was paid a total £1.3m in salary, shares and pension contributions, down from total of £1.7m in 2010.

Author

Hannah Vinter

Date

2012-05-07 14:43

by Martin Langeveld

Who owns Americas newspapers?

In January, I detailed how a hedge fund named Alden Global Capital, which played a role in the shakeup at MediaNews Group, also had significant holdings in newspaper groups Freedom Communications, Philadelphia Newspaper Holdings, Journal Register Company, Tribune, and the Canadian newspaper firm Postmedia Network -- all firms with current or recent bankruptcy status.

Continue reading on Nieman Journalism Lab

Author

Anton Jolkovski

Date

2011-03-09 10:58

Billionaire Indu Jain's Bennett, Coleman & Co. plans to give stock options to employees in preparation for a potential initial public offering in India in the next two years, said three people with direct knowledge of the matter.

Some senior staff at the Mumbai-based publisher of the Times of India and Economic Times were told about the stock options last week, said two of the people, who declined to be identified because there hasn't been a formal announcement. Bennett, Coleman Chief Executive Officer Ravindra Dhariwal yesterday declined to comment.

Continue reading on Bloomberg

Author

Anton Jolkovski

Date

2011-02-18 14:19

Russian Facebook investor Mail.ru Group saw a 30 percent climb on the London Stock Exchange last Friday, gathering US$912 milllion, Bloomberg reported. The Initial Public Offering valued Mail.ru at $5.71 billion, which was the largest in the UK since July.

The Internet firm and its current stakeholders sold 32.9 million global depositary receipts for $27.70 each, Bloomberg revealed. However, on Friday the figures experienced a boost as they reached $37 per share, AFP informed.

Mail.ru operates Russian-language e-mail, gaming sites as well social networks, such as Odnoklassniki and VKontakte. The Wall Street Journal outlined that the company appealed to investors because they saw a chance to bet on the possible development within the country's economy as well as Mail.ru's significant market shares in strategic areas.

"This is the first issue in 2010 that has been able to place at the top of the indicated price range," said Chris Weafer, chief strategist at financial group Uralsib. "While most other IPOs have struggled in tough market conditions, Mail.Ru has certainly hit a sweet spot."

Author

Alisa Zykova

Date

2010-11-08 21:45

Businessmen Pierre Bergé, Xavier Niel and Matthieu Pigasse became on Tuesday the new owners of Le Monde, as shareholders endorsed the recapitalisation of the company, CNBC.com reported.

The group, which will invest 110 million euro to pay debts and stem losses, now owns 64.5 percent of the newspaper through a holding company called Le Monde Libre. However, their stake will decrease to 60 percent "once Le Monde staff and readers get control of 33.4 percent" of the daily, CNBC.com pointed out.

Spanish media group Prisa, which owned 15 percent of the French newspaper, is expected to transfer its share to Le Monde Libre. With the recapitalisation, Prisa's stake was diluted to 5 percent. According El Pais, the three businessmen signed a preliminary agreement with the Spanish group allowing it to acquire 20 percent of new holding company.

Meanwhile, the weekly Nouvel Observateur and Italian daily La Stampa announced they would sell their holdings in Le Monde. Similarly, French media group Lagardère, which owned 17 percent of the newspaper, sold its shares to the business trio, ABC.es reported.

Author

Clara Mart

Date

2010-11-04 22:03

The Competition Authority of France announced that it sees no fault with the acquisition of the daily newspaper Le Monde by businessmen Pierre Bergé, Xavier Niel and Matthieu Pigasse and gave the project "the green light," Le Nouvel Observateur wrote today. Last week Le Monde wrote that the trio would have a 51 percent stake in the company.

According to Agence France-Presse, the organisation explained that the buyers had "limited interests" within print magazines (gay and lesbian title Têtu for Bergé and rock music outlet Les Inrockuptibles for Pigasse) and websites, meaning that the deal had no underlying competition issues. Editorial independence was guaranteed for all the titles involved in the deal, AFP added.

According to Le Monde, an ethics code would be put in place for all the publications and two committees will be established, one for the daily and one for the magazines. The committees would include members of the editorial board, staff, readers, the daily's director as well as two independent and qualified individuals chosen by the Supervisory Board.

Author

Alisa Zykova

Date

2010-10-01 00:03

Ten employees at Scottish newspaper the West Highland Free Press have taken over control from five shareholders who owned it, and the paper will henceforth be managed by a staff-centred trust, the BBC reported today.

The move toward employee ownership "marks a defining moment in UK newspaper ownership. At a time when the wider industry is in difficulty, I hope this sends out a clear message that there is a future for newspapers that provide quality and informed content of interest to its readership," said Paul Wood, director of the paper, according to Holdthefrontpage.co.uk.

"The move to employee ownership sits easily with what I feel the paper stands for and leaves a legacy in our hands for the community and to all future employees of the company for generations to come," he said.

The West Highland Free Press, now the only employee-owned UK newspaper, was launched in 1972 by the original five shareholders, and the ownership transfer comes at the end of more than a year of negotiations between the shareholders, staff and funders, Holdthefrontpage.co.uk reported.

Author

Leah McBride Mensching

Date

2009-10-29 18:31

Syndicate content

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

Footer Navigation