CBS Outdoor Jumps 8% in Q2, Radio Slips 10%
CBS Outdoor saw revenues jump 8 percent to $598.1 million in the second quarter. Overall, the company’s revenue grew 1 percent, to $3.93 billion.
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CBS Outdoor saw revenues jump 8 percent to $598.1 million in the second quarter. Overall, the company’s revenue grew 1 percent, to $3.93 billion.
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Office Depot’s Q2 sales slipped 1 percent to $3.6 billion. It posted a net loss of $2 million, compared with a profit of $106 million in the same quarter last year, due to lower-than-expected retail sales in its North American stores.
At last, the $17.9 billion buyout of Clear Channel by private equity firms Thomas H. Lee Partners and Bain Capital closed today (Wednesday) - nearly two years after the company first began exploring strategic options.
The San Diego Union-Tribune is for sale - but, with the newspaper industry in a fine pickle, it is difficult to imagine who would be willing to snap it up.
Wasting no time once the FCC approved the merger, XM and Sirius Satellite Radio have completed the deal, which had been pending since March, 2007.
The Journal Register Co. - publisher of 27 newspapers - carries $640 million in debt, and has struck a deal with several banks to delay interest payments until the end of October.
It’s been a ridiculously long time in coming, but the FCC officially approved the merger between XM Satellite Radio and Sirius Friday.
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Tate likely swing-voteThe FCC is set to approve a satellite radio merger today (Thursday). Though Jonathan Adelstein, once expected to vote in favor of the merger, has decided not to back the deal, Republican Deborah Taylor Tate will reportedly vote in favor of it.
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Despite a decline in traditional media spending, Omnicom’s organic growth rose 4.8 percent in the second quarter thanks to growth in below-the-line marketing services. That marks the lowest growth-rate since 2003.
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Icahn Yahoo made a peace agreement with investor Carl Icahn, who for the last several months sought to oust its board and seize control of the company.
Democratic FCC commissioner Jonathan Adelstein has, surprisingly, said he would vote in favor of the merger between satellite radio companies XM and Sirius - with conditions.
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Merger and acquisitions deal value in the first half of 2008 for media, information, marketing services and related technologies was down significantly, though the number of transactions was up slightly, reported the Jordan, Edmiston Group, Inc. (JEGI) - via MarketingCharts.
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Anheuser-Busch has agreed to sell itself to Belgium-based InBev for $52 billion - despite the fact that A-B CEO August Busch IV swore in April that a deal would not happen during his tenure.
Yahoo has rejected yet another offer from both Microsoft and Carl Icahn. On Friday, Microsoft offered to buy its search business if CEO Jerry Yang and his board were replaced by Carl Icahn and directors of his choice.
FCC commissioner Robert McDowell has voted to approve the merger between Sirius and XM Satellite Radio, as long as the companies meet the conditions under which FCC chair Kevin Martin approved the deal.
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Despite predictions of a 10 percent gain in revenue and profit gains of 5 percent, NBC posted a rise in revenues of 7 percent and net profit of just 1 percent in the second quarter.
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Venture capital and media firms have invested more than $161 million in 16 virtual-worlds-related companies during the second quarter of 2008 - and $345 million in the first six months of ‘08, according to info issued by Virtual Worlds Management - MarketingCharts writes.
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Gannett Co. has acquired full ownership of retail marketing and database services provider ShopLocal LLC, the Chicago Tribune.
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Activision shareholders are expected today to approve a merger with Vivendi Games in a deal that will shake up the gaming biz.
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A group of state attorneys general have asked FCC commissioner Deborah Taylor Tate to oppose the merger of Sirius and XM Satellite Radio, saying a deal would be a “stacked deck” to consumers.
