Date

Sat - 25.11.2017


merger

Chinese online media company Sina Corp. has dropped its planned US$1.66 billion merger with Focus Media Holding Ltd. afflicted by a laborious regulatory approval process, the Wall Street Journal reported Tuesday.

Alternatively, internal investment will occur, with Sina's chief executive leading a $180 million purchase of a 10 percent equity stake in the company.

Sina, who owns China's largest Internet portal, had planned to acquire Focus Media's advertising assets but the expansion into offline advertising was seen as risky. The deal would have seen Sina exchange stock for Focus Media's bulletin boards and flat panel display products.

However the deal expired on Wednesday after it failed to receive approval from the Chinese Ministry of Commerce, which has pushed back its review of the deal several times since the purchase of Focus Media's core assets was announced in December 2008.

Author

Leah McBride Mensching

Date

2009-09-29 08:55

Two quasi-news organisations will vote Friday on whether to join forces in fulfillment of an acquisition deal struck in July.

MediaLink, formed in 1986 as a liaison between news and publicity houses, is best known to newspapers for its partnership with The Associated Press in creating AP Express Newswire, distributing marketing announcements directly to more than 800 AP subscribers.

Meanwhile, The NewsMarket, founded in 2000, produces broadcast-quality video for news outlets and others worldwide. The company also provides Web-based streaming video services to a panoply of clients, ranging from Google to the U.S. Department of State.

Author

Leah McBride Mensching

Date

2009-09-23 18:23

A parliamentary investigation has concluded that Scottish newspapers should be given an opportunity to consolidate in order to secure the future of the industry, MediaWeek reported Tuesday.

The report said the Scottish newspaper industry had been forced into drastic restructuring by the financial climate and technological developments, "often at great cost to its dedicated and knowledgeable staff."

The House of Commons Scottish Affairs Committee recommended the Scottish industry be given an opportunity to merge and integrate, "subject to the appropriate safeguards," to produce high quality, independent and profitable Scottish journalism.

The report also expressed MP concern over councils advertising solely on their own Web sites, leaving portions of the population without access to public notices and public sector appointments and job availability. The report found this was crucially pertinent to Scotland, as broadband Internet access was low in parts of the country.

The committee also questioned the benefits of redundancies as cost cutting measures, sighting correlations between job cuts and drops in reporting quality, advertising revenue and circulation. The report was also critical of the stress levels associated with the press industry.

Author

Leah McBride Mensching

Date

2009-07-15 20:02

Two of Ireland's free dailies, Metro and Herald AM, have announced they will merge, Newspaper Innovation reported.

The result of the merger will be the Metro Herald, which will be owned by Associated Newspapers, The Irish Times and Independent News and Media, after Metro International sells its shares in the paper.

The circulation of the new paper is expected to be the same as the combined circulation of the two independent papers, totalling approximately 70,000.

Author

Leah McBride Mensching

Date

2009-07-03 18:53

The World Association of Newspapers and IFRA, the leading international associations for print and digital news publishing, have merged into a new organisation, the World Association of Newspapers and News Publishers (WAN-IFRA).

The combined new organisation will represent more than 18,000 publications, 15,000 online sites and over 3000 companies in more than 120 countries. WAN-IFRA is dedicated "to be the indispensable partner of newspapers and the entire news publishing industry worldwide, particularly our members, in the defense and promotion of press freedom, quality journalism and editorial integrity, and the development of prosperous businesses and technology."

The mission statement of the organisation can be found at http://www.wan-ifra.org

The merger, which becomes effective on 1 July, has been approved by the membership of the two organisations. The new organisation will maintain the two current headquarters in Paris, France, and Darmstadt, Germany.

The two organisations have been discussing a merger, on and off, for more than five years, as they have built up several similar products and services and have an increasing overlap in membership.

Author

Larry Kilman

Date

2009-06-25 19:22

Tribune Co. today announced the joint operation of the Hartford Courant and Hartford television stations WTIC-TV and WTXX-TV, beginning later this year, a press release posted by Fox Business announced. The media combination will be headed by Richard Graziano, senior vice president and general manager of WTIC-TV and WTXX-TV. He has been made Courant publisher, effective immediately.

"This is the future of media," Randy Michaels, Tribune's chief operating officer, stated in the press release. "Whether in print, over the air, or online - the delivery mechanism isn't as important as the unique, rich nature of the content provided. Bringing these media properties together will enable us to bring more resources to our news coverage, improving and expanding what we can offer readers, viewers and advertisers in the area."

WTIC-TV and WTXX-TV will broadcast from a yet to be built studio in the Courant's newsroom. Construction is set to get under way during the summer. WTIC-TV will also offer a larger news output, with an additional two half-hour segments at noon and at 6 p.m.

The Courant, the oldest continually published newspaper in the United States, has a readership of more than 800,000 every week across its print and online publications. Meanwhile, WTIC-TV and WTXX-TV are Hartford-only stations that source their own local news from the city.

Author

Leah McBride Mensching

Date

2009-03-31 20:17

Swiss publishers Edipresse and Tamedia announced they will implement a "strategic rapprochement," followthemedia.com reported. The first phase of the strategy consists of Tamedia buying 49.9 percent of Edipresse Swiss holdings, followed by 0.2% more in the coming years.

The move is in keeping with Tamedia's recent trend of buying various media companies, extending its reach into the radio and online industry.

The acquisition is also intended to save money and eliminate competition between the two publishers, who both market a free newspaper in the francophone region of Switzerland. Altogether 20 jobs are expected to be cut from staff in the French-speaking part of Switzerland, as both agree only one free newspaper can survive there after the eventual merger.

The union leaves Switzerland with just three major media groups; the public broadcaster SSR- which has a virtual television monopoly, along with the newspaper publishers Ringier and Tamedia.

Author

Leah McBride Mensching

Date

2009-03-06 00:00

CBS Corp. CEO Leslie Moonves said the company will not merge its news operations with Time Warner's CNN. Although CBS Corp. is open to collaborations with CNN, he said that nothing manageable has emerged from multiple discussions, Broadcasting & Cable reported Monday.

Time Warner has also discussed a partnership with rival broadcast network ABC, he said.

Like most companies, in the face of the economic recession, Moonves said that the amount of advertising bought is expected to decrease. However, he also said he expects price increases compared to last year, according to Broadcsting & Cable.

Author

Leah McBride Mensching

Date

2009-03-05 19:59

Digital marketing company Sinotech Group and global media sales company Publicitas have agreed to merge Publicitas' Chinese Digital consulting business, called Publicitas (Beijing) Media Consulting Company Ltd., into the SinoTech Group, Publicitas announced Monday.

Switzerland-based Publicitas stated that the merger will allow the two companies to offer clients a wider range of IT tools to monetise Web and print content.

The two companies recently announced that they are working together to provide Internet advertising sales to some leading sites in India and abroad, according to Publicitas.

As online publishers and advertisers increasingly use technology to for digital efficiency, both companies see more opportunities in Chinese digital marketing, according to the Publicitas statement.

Author

Leah McBride Mensching

Date

2009-02-17 20:15

After several online mega-deals in 2007, the total value of Internet media mergers and acquisitions dropped 62 percent to US$16.9 billion in 2008, according to a new report by Peachtree Media Advisors in New York, Media Post reported.

The Internet-related M&A dollars fell from $44.4 billion in 2007, even though the number of deals was up 15 percent to 707.

Those notable deals in 2007 boosting the total dollar last year included Microsoft's $6 billion acquisition of aQuantive, Google's $3.1 billion purchase of DoubleClick, as well as WPP Group's $650 million purchase of 24/7 Real Media, Media Post reported.

In 2008, "there were less of those huge deals, and the reason is because a lot of the diversified media companies that were doing the buying have seen their own valuations go down," according to John Doyle II, founder and managing director of Peachtree, an investment bank focusing on the interactive marketing and out-of-home ad sectors.

The biggest news in 2008 was Microsoft's proposed $4.7 billion takeover of Yahoo, which may not be over yet.

Author

Erina Lin

Date

2009-01-20 22:48

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