Date

Wed - 23.07.2014


merger

The American Press Institute is ceasing independent operations today after 66 years as a centre for journalism training and career development, reports the Washington Post.

In a move first announced in January, the API is merging with the Newspaper Association of America Foundation, a tax-exempt unit of America’s largest trade organisation for the newspaper industry.

The interim executive director of API Carol Ann Riordan reassures readers on API’s website that, as the two groups merge, “training, leadership development and best practices will be key activities of the new organization.”

As part of the move, API’s iconic building is being sold and its eight full-time staff and one part-time employee have been laid off, writes The Washington Post.

Author

Hannah Vinter's picture

Hannah Vinter

Date

2012-03-23 19:36

U.S. magazine Newsweek announced it will merge its website with that of news and commentary site The Daily Beast to form The Newsweek Daily Beast Co., AFP reported today. Both parties will have an equal stake in the newly established joint venture.

"In an admittedly challenging time, this merger provides the ideal combination of established journalism authority and bright, bristling website savvy," Sidney Harman, Newsweek's owner, said in a statement. The entity will be owned equally by Harman and Barry Diller's Internet company InterActiveCorp, which owns The Daily Beast. Directors will include Harman, as executive chairman, and Diller, as well as one director each to be appointed from either side, according to the press release.

Image: Digital Trends

Author

Alisa Zykova

Date

2010-11-12 18:22

The talks between The Daily Beast and Newsweek about a possible merger ended on Monday after both companies were not able to agree on how power should be shared, The Wall Street Journal revealed.

"The engagement was fun but the pre-nup got too complex. We wish Newsweek all the best," said The Daily Beast editor-in-chief Tina Brown in a memo sent to the website staff, New York Magazine quoted.

The Daily Beast editor-in-chief Tina Brown was one of the candidates to fill Newsweek's editor position. Photo: AdPulp
According to The Wall Street Journal, if the deal had gone through Brown would have become the editor of the magazine. However, Newsweek's owner Sidney Harman, IAC/InterActive Corp CEO Barry Diller, who owns The Daily Beast, and Brown could not agree on their specific roles and how to divide business and editorial responsibilities.

In a joint memo, Harman and Newsweek's CEO Tom Ascheim said that they remain "committed to and actively engaged in the search for the best editor for Newsweek," The New York Observer quoted. In August, The Washington Post Company sold the magazine to Harman for $1. Since then, Newsweek has not had a permanent editor.

Author

Clara Mart

Date

2010-10-19 00:44

Trinity Mirror is to merge the editorial teams of the Manchester Evening News and its 22 weekly sister titles, leading to up to ten job losses, it was reported yesterday. MEN Media was bought from the Guardian Media Group by Trinity Mirror in February this year.

The move is part of a push to boost multimedia and user generated content, and will see the creation of a single editorial team with teams of reporters assigned to cover specific geographic areas producing multimedia content for MEN Media titles, according to the Guardian. There will be a training programme to help reporters make the shift to multimedia, and new equipment will be bought. There will be a single management structure to lead the newsroom and place more emphasis on content creation.

For more on this story, visit our sister publication, editorsweblog.org.

Author

Leah McBride Mensching

Date

2010-07-13 21:47

Indian newspaper publisher Jagran Prakashan Ltd. will merge with English-language publication Mid-Day Multimedia Ltd., the Hindustan Times reported yesterday.

The Mid-Day board yesterday agreed to the "cashless deal," in which each Mid-Day shareholder will receive two shares of Jagran for seven shares of Mid-Day, according to the Wall Street Journal. The share price of Mid-Day rose 18 percent on the news, while Jagran's share price went down by 3.2 percent, the Times noted.

The publisher's dip in share price was due to the equity dilution of 5 percent that the deal caused, the WSJ reported.

Jagran publishes India's most read newspaper, Hindi-language daily Dainik Jagran. The deal will give Jagran, which publishes mostly in northern India, a foothold in the Mumbai market, as well as add to ad revenue and earnings, according to the WSJ. For its part, Mid-Day will benefit from Jagran's resources and larger scale, according to Reuters India.

The merger comes as readership for Hindi dailies outpaces English-language readership.

Author

Leah McBride Mensching

Date

2010-05-06 21:00

Two UK regional papers, Bristol's Western Daily Press and Plymouth's Western Morning News, announced they will merge editors and senior editorial roles, BBC News reported.

The two papers will remain unique, but have only one editor-in-chief. Production will be shared between Plymouth and Bristol, but the reporting teams will remain independent, The Herald reported.

This move could impact up to 20 jobs in Devon and 11 posts in Bristol.

Sales of Western Daily have dropped by 10 percent to about 34,000 last year, while Western Morning News' sales have decreased by about 6.5 percent to just over 35,000.

Both titles are produced by regional media group, Northcliffe.

Author

Erina Lin

Date

2010-03-09 20:19

German publisher Axel Springer has acquired the Russian arm of Gruner+Jahr, another German publisher. The Russian titles will continue to operate under the G+J banner, with licensing of the respective names to Axel Springer. The acquisition - the value of which was not disclosed - must be approved by antitrust authorities before it can be finalised.

Axel currently publishes the Russian print editions and Web sites of Forbes, Newsweek, OK and Computer Bild. The merger adds to its list of titles: GEO, GALA Biografia, GEO Traveller, and GEOLenok print magazines as well as GEO.ru, Moi-Roditeli.ru, and MoiZvezdi.ru Web sites.

Author

Leah McBride Mensching

Date

2009-11-24 19:39

The U.S. Justice Department has dropped its investigation into a newspaper merger slated for publications throughout Northwest Arkansas, the Fayeteville Flyer reported today.

The conclusion of the antitrust allegation signals that Wehco Media and Stephens Media LLC will join as scheduled on November 1, according to The Morning News. Whole Hog Sports reported today that the go-ahead came in the absence of an outside buyer for Stephens' flagship publication, The Morning News.

The 50-50 partnership will publish the Democrat-Gazette; The Morning News; the Northwest Arkansas Times; the Benton County Daily Record; weekly newspapers in several counties; and a sports magazine, Hawgs Illustrated, the Democract-Gazette reported today.

Author

Leah McBride Mensching

Date

2009-10-27 14:20

British book wholesaler Bertram Group reported £53.5m and pre-tax profits of £500,000 in its second full quarter since it was bought by Britain's biggest newspaper and magazine wholesaler, Smiths News, for £8.6m last April, the Eastern Daily Press reported today.

Michael Neil, managing director of Bertrams - which supplies books to major retailers, schools, universities and libraries - was quoted as saying: "We expected and budgeted to break-even for the rump of the financial year . . . . but things came into place much faster than we'd expected."

Despite the health of the Bertram division, its newspaper parent felt the impact of the acquisition, Trading Markets reported yesterday. Smiths' underlying profit fell 6 percent to GBP30.5 million on revenues 7 percent higher at GBP1.33 billion in the year to August.

Its dividend is up from 6.7p to 6.8p a share. Bertrams' turnaround was especially challenging because it was a bankruptcy holding when purchased, the Financial Times reported yesterday. Mark Cashmore, Smiths News chief executive, was quoted as saying: "The challenges it faced were purely on the back of the Woolworths financial situation and the lack of working capital."

Author

Leah McBride Mensching

Date

2009-10-23 19:48

Scripps Networks' success is fueling speculation it is an acquisition target of larger media companies, the Knoxville News Sentinel reported today.

Scripps Networks Interactive CEO Ken Lowe made this joke at a recent investor conference: "I keep saying that somebody sneaks into the yard at night and puts [up] a 'For Sale' sign, and we get up in the morning and the place is not for sale."

Despite Lowe's protests in jest, industry magazine Broadcasting & Cable reported today that given Comcast Corp.'s reported play for NBC Universal, the popular speculation is that Scripps Networks could become big media's next meal.

B&C's report follows similar murmurs from market watcher 24-7 Wall Street, which Friday recommended that Comcast buy Scripps among others because cable has proven the most profitable segment in the media business.

Author

Leah McBride Mensching

Date

2009-10-12 20:22

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