Wed, Feb. 11, 9:06 AM
Fri, Feb. 6, 6:17 PM
- McClatchy (NYSE:MNI) has written a new contract for its president and CEO, Patrick Talamantes, extending him for three years beyond this spring's expiration date, to May 2018.
- The company has designated base pay of $841,500, up from an existing $822K.
- Talamantes' total compensation for the previous fiscal year came to $1.295M.
Sat, Jan. 24, 11:15 AM
- Shares of New York Times (NYSE:NYT) ended with a 2.74% gain last week after a report of interest by Michael Bloomberg in making an acquisition gained traction.
- 2014 was a rough year for New York Times with a drop in ad sales cutting into the impact of higher subscription prices.
- A new savvy ownership group could unlock more potential on the digital side. (see: Jeff Bezos' plans for Washington Post).
- As noted by Re/code, although Bloomberg has the required chutzpah to make a run at the NYT, the controlling Ochs-Sulzsbergers family by all appearance is a reluctant seller.
- Analysts speculate it could take an offer as high as $4B-$5B to land the company - more than double its $1.97B market cap.
- What to watch: If a mega-deal were to be struck for NYT, there's a thought that it could raise the profile on other newspapers stocks (MEG, GCI, TPUB, LEE, MNI) on M&A potential, increased investment in digital initiatives, or a similar vanity white knight play (Bezos, Bloomberg) for assets.
Oct. 23, 2014, 9:07 AM
Aug. 11, 2014, 1:45 PM
- There's some asset re-allocation going on in the media sector with a group of newspapers stocks piling on some gains - while select TV broadcaster and digital media stocks head in the other direction.
- The flurry of merger and spinoff news within the sector has created more pure-play bets and consolidated some firms into larger players.
- Analysts have noted the extra volatility in the sector has created more buy/sell opportunities than normal on mismatched valuation.
- Gainers: McClatchy (NYSE:MNI) +3.0%, Lee Enterprises (NYSE:LEE) +3.3%, New Media Investment (NYSE:NEWM) +4.4%.
- Decliners: E.W. Scripps (NYSE:SSP) -3.6%, Media General (NYSE:MEG) -2.1%, Journal Communication (NYSE:JRN) -3.4%.
- Related ETF: PBS
Aug. 5, 2014, 9:59 AM
Aug. 4, 2014, 5:34 PM
- Bloomberg reports Gannett (NYSE:GCI) has agreed to take full ownership of Cars.com for $1.8B.
- Gannett currently owns 27% of Cars.com parent Classified Ventures. Reuters reported in May Gannett is interested in partnering with P-E firms to acquire Cars.com, potentially at a price of $3B.
- McClatchy (NYSE:MNI), Tribune (OTCPK:TRBAA), AH Belo (NYSE:AHC), and Graham Holdings (NYSE:GHC) also own stakes in Classified Ventures. The company sold Apartments.com in March for $585M, leaving Cars.com as its only property.
- MNI +20.6% AH. AHC +2.8%. GCI +0.8%.
Jul. 29, 2014, 12:45 PM
- Newspaper stocks draw some notice after New York Times (NYT -5.5%) and McClatchy (MNI -2.4%) both report a drop in print advertising revenue for Q2 that exceeded expectations.
- Though print advertising hasn't declined as fast as some skeptics forecast, a sobering statistic for the sector is that adults in the U.S only spend 2% of their media time reading newspapers - although the category still pulls in 10% of all ad dollars.
- On watch: Gannett (GCI +0.9%), Medua General (MEG), Lee Enterprises (LEE +1%), A.H. Belo (AHC +2.2%), Tribune Publishing (NYSE:TPUB).
Jul. 24, 2014, 9:23 AM
Jul. 10, 2014, 1:22 PM
- The Dallas Morning News has shut down its premium website after a nine-month run.
- The publication is owned by A.H. Belo (AHC -0.7%).
- What to watch: The conversion of the print model to digital is an important part of the strategy of newspaper owners (MNI, GCI, MEG, NYT). Though early results have been positive for some major newspapers such as The New York Times and The Boston Globe, other papers haven't been able to swing the clout to get subscribers to pay up.
Apr. 28, 2014, 5:44 PM
Apr. 23, 2014, 9:15 AM
Mar. 12, 2014, 4:55 AM
- Media-holding company Cox Enterprises and London-based private-equity firm Apax Partners are interested in bidding for auto-sales Web site Cars.com, Bloomberg reports.
- Cox already owns the AutoTrader site in the U.S. while Apax controls a business of the same name in the U.K.
- Cars.com's owner, newspaper consortium Classified Ventures, is hoping to fetch $3B in a sale. Classified's investors are Gannett (GCI), McClatchy (MNI), Tribune (TRBAA), A.H. Belo (AHC) and Graham Holdings (GHC).
Mar. 10, 2014, 12:47 PM
Mar. 10, 2014, 3:48 AM
- Newspaper consortium Classified Ventures, which includes Gannett (GCI), McClatchy (MNI) and Tribune (TRBAA), is looking to sell Cars.com for $3B, the WSJ reports.
- Gannett, whose holding in Classified is 27%, could be interested in increasing its stake in the auto-sales Web site.
- Any deal would come amid rising valuations for e-commerce sites and after Classified Ventures last week said it was selling apartments.com for $585M.
- The sale of Cars.com would effectively mark the end of the consortium, whose other owners are A.H. Belo (AHC) and Graham Holdings (GHC).
Mar. 3, 2014, 10:18 AM
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