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Sun-Times Media Group directors are weighing a range of options to address the newspaper company’s difficulties, including putting itself on the auction block.
The company, which yesterday warned that Q3 results would be substantially lower than last year at this time, mentioned the possibility of a review of its 5-cent-a-share quarterly dividend, writes The Chicago Tribune. That dividend costs the company about $16 million annually.
But because the company has long been considered a potential takeover candidate, the announcement caused some speculation that the company might be preparing to sell, according to the article. It is considered by many as too small to compete by itself in a consolidating media marketplace.
Up to now, plans for a sale have been complicated by the fact that the company had been under the shadow of a financial scandal. Former chairman, chief executive and controlling stockholder Conrad Black had fraud charges filed against him by federal authorities last year, alleging that he and others had stolen millions of dollars from the company (then called Hollinger International) before he was booted out in 2003.
Katz Radio Group has snared two more major clients, having approached and signed CBS Radio and Entercom Communications, formerly clients of Interep.
CBS Radio represented about a third of Interep’s total revenue, writes Mediaweek.
Interep filed last month to convert its…
B-to-b publication revenue was down slightly in 2007, sagging 0.4% from 2006; it was flat from 2005, according to American Business Media’s Financial Trend Report.
Print advertising pulled 84% of the average b-to-b title’s revenue, writes Folio.
Editorial, advertising and circulation…
The number of Britons accessing the mobile internet increased by 25% (from 5.8 to 7.3 million) from Q2 to Q3 2008, compared with only a 3% increase for PC-based internet users (34.3 to 35.3 million Britons), according to (pdf) insight data…
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…
Black Friday is typically known as the day of unbeatable deals, but also long lines, packed stores, and jostling customers.
But this season, online retail giants Amazon and eBay are doing their best to get customers out of stores and…
Despite the U.S. financial crisis and dwindling marketing budgets at some financial institutions, the number of retention-related direct-mail offers sent by banks to current customers in Q3 2008 was 42% higher than in Q2.
View chart of estimated mail volume, Q3…
