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Yucaipa Cos., the investment firm controlled by Los Angeles billionaire Ron Burkle, plans to bid for the 12 Knight Ridder newspapers that were put on the block last week after being acquired by McClatchy Co., the Los Angeles Times reports. Robert Hall, hired to advise Yucaipa, wouldn’t put a dollar amount on the bid, but analysts have valued it at $1.4 billion to $2 billion.
According to the San Jose Mercury News, Burkle is joining forces with union workers at nine of the papers to buy the chain.
Several newspaper companies including MediaNews Group Inc. and Gannett Co. could make bids for at least some of the papers.
McClatchy hopes to close the sale at the same time it completes its acquisition of Knight Ridder, expected to happen this summer.
Katz Media Group has added another new client, Lincoln Financial Media, and will sell ad time on the company’s 15 stations beginning immediately.
Katz also added CBS Radio and Entercom last week, picking them off from Interep’s list.
Katz has also…
Last week, Aegis Group CEO Robert Lerwill resigned unexpectedly, sparking speculation that a takeover may be on the horizon.
Lerwill stepped down officially today (Monday), with Aegis chairman John Napier taking over his duties on an interim basis, writes MediaPost. People…
Out-of-home companies are bracing for the recession like everyone else, but they may not feel the sting as badly as other media.
Though the third quarter brought negative growth to the nation’s three largest OOH companies - Clear Channel Outdoor,…
The 82nd annual Macy’s Thanksgiving Day Parade pulled an average 12.6 rating/26 share on Thanksgiving morning, Nov. 27, according to Nielsen.
That was 8% higher than its telecast last year, Mediaweek writes. NBC estimated that a total 44.7 million viewers…
Top American non-luxury auto brands received higher ratings and less negative comments from online consumers than competing Japanese brands, according to an analysis of consumer opinions collected from automotive review websites by Biz360, MarketingCharts reports.
The research, which aggregated a year’s…
Email, news gathering and paying bills continue to be the most widely used online activities among U.S. adults, but downloading TV programs, watching videos and making web phone calls posted the biggest overall growth, according to data from Mediamark Research…
