WAN-IFRA

Shaping the Future of the Newspaper

Date

Tue - 30.09.2014


Mergers & Acquisitions

A £1bn sale of the Financial Times is under active consideration, Bloomberg said today  – only for the story to be immediately denied by its owner. 

Pearson, the FTSE 100 media group, issued a statement in response to the article saying that, though ‘not in the habit of responding to rumours, speculation or reports about our portfolio’, it was obliged to point out that ‘this particular Bloomberg story is wrong.’ Dame Majorie Scardino, the outgoing chief executive of Pearson, once said famously that the FT would be sold ‘over my dead body’ but her impending departure from the company in January lends added credence to the report, as does the fact that the story comes just weeks after Pearson agreed to merge Penguin with Bertelsmann’s Random House in a deal to create the largest book publisher in the US and the UK. 

For the rest of this story, please see our sister publication, www.editorsweblog.org.

Author

Frederick Alliott's picture

Frederick Alliott

Date

2012-11-08 11:13

Google Inc. today took up the case of newspaper publishers in the United Kingdom who say they should be allowed to merge to compete with new players like the online search giant. Google made a submission to the Office of Fair Trading insisting the UK's competition officials should loosen laws relating to the merger of competing newspapers, the Times Online reported Tuesday.

Matt Brittin, managing director of Google UK, wrote in support of potential mergers: "Google supports the position of many newspapers for the need to allow for a 21st century merger regime, allowing local and regional news services to merge and consolidate in order to create...competitive news offerings."

Current law governing the mergers of newspapers is under review by the OFT as part of a larger review of British media, a white paper titled Digital Britain under the preparation of Lord Carter of Barnes. Media groups hope the review will relieve them of them of strict merger laws and allow for more consolidation, according to the Times Online.

Brittin acknowledged newspapers' economic troubles, pointing out that "competition for consumer attention and for advertising revenue has intensified in recent years and the Internet has further accelerated the change."

Author

Leah McBride Mensching

Date

2009-05-19 15:17

After 2008 saw US$150.8 billion in mergers and acquisitions in the U.S. media and entertainment industry, 2009 is predicted to see a significant drop, according to PricewaterhouseCoopers research, The Hollywood Reporter reported Sunday.

Traditionally the entertainment and media industry is one of the more consistently active M&A sectors, despite flailing economic conditions. However, pending mergers and acquisitions as of Dec. 31 were down by more than $90 billion, at $6.7 billion, for the same time a year earlier.

Although 2008 was an exceptional year for mergers and acquisitions, this was mainly due to the four major deals whose closures were delayed in completion from their announcement in 2006. These were the $27.9 billion sale of Harrah's Entertainment, the $25.9 billion sale of Clear Channel Communications, the $16.2 billion controlling acquisition of DirecTV by Liberty Media and the $6.2 billion merger creating Sirius XM Radio, according to the Hollywood Reporter.

While the economic climate of 2009 will leave overall spending well behind that of previous years, the number of transactions in the industry may still remain significant, according to the PricewaterhouseCoopers report.

Author

Leah McBride Mensching

Date

2009-03-02 20:00

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