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The Tribune Co., which late last month formed a committee to look at options that could create additional value for shareholders and hired Merrill Lynch and Citigroup to help determine its choices, has reportedly asked bidders to submit indications of interest by the end of the month.
Several groups of private-equity firms are beginning to show interest in buying the media company, writes Editor & Publisher, citing a Wall Street Journal article. The Journal article claims that the three firms are likely the best hope for the company to sell itself amid “weak financial results, an uncertain future and a divided board of directors.”
The Tribune Co.’s preference is to conclude its sales process by the end of the year. It hopes to sell the company as a whole, though it may possibly break off pieces, “if those pieces can fetch prices that would cover any resulting tax bills,” according to the article.
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…
CNN plans to offer newspapers a wire service as an alternative to the Associated Press. CNN, which already runs an internal wire service, will explain its new, expanded service to editors from about 30 papers who are visiting Atlanta this…
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,…
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…
Regulatory filings reveal that billionaire hedge-fund manager Carl Icahn bought nearly 7 million additional shares — about $67 million worth — of Yahoo.
The investor paid an average of $9.92 for each share over the course of three days, bringing…
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…
