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The New York Times Co. has agreed to sell its Broadcast Media Group to a private equity firm for $575 million.
The group is made up of nine local television stations, and the Times Company announced in September that it would sell the media group as it refocused strategy on its newspaper and digital business, writes The New York Times.
“Our focus now should be on the development of our newspapers and our rapidly growing digital businesses and the increasing synergies between them,” Janet L. Robinson, president and chief executive of the Times Company, is quoted as saying.
Oak Hill Capital Partners, which purchased the stations, does not own any other media assets, but has expressed interest in media properties lately.
Marketers have unleashed their holiday promotions earlier than ever this year, with many hitting the stores well before Thanksgiving. But Sirius XM isn’t launching most of its 24-hour holiday music channels until turkey day or later.
The newly merged company…
PC Magazine will stop publishing a print edition with its January issue. The magazine will shift operations entirely online.
The magazine will be sent via email with a link to the current edition. It will continue to look like the…
Walgreens has returned to 1 Times Square with its new 16,200-square-foot flagship store; the store flaunts signs, made up of 12 million LEDs, on its three sides.
The signs, running above and below the famous news “zipper,” will include diagonal…
Following an inability to agree with studios on payment for shows distributed online, the Screen Actors Guild has decided to pursue strike authorization from its members in a move the Alliance of Motion Pictures and Television Producers calls “bizarre.”
Should…
Brick-and-mortar retailers will be marking down prices on many items this holiday season to attract reluctant shoppers, but their holiday “price war” is a mere skirmish compared with that being waged online, writes the International Herald Tribune (via Retailer Daily).
The price-cutting…
Through the first half of the year, automakers have slimmed their ad spending by 10% to $6.1 billion, according to Nielsen Monitor Plus.
General Motors slipped 6% to $1.2 billion, while Ford Motor cut ad spend by 22% to $954…
