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.
email this
permanent link
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.
email this
permanent link
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.
email this
permanent link
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.
email this
permanent link
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.
email this
permanent link
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.
email this
permanent link
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.
email this
permanent link
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.
email this
permanent link
Gannett Co. has acquired full ownership of retail marketing and database services provider ShopLocal LLC, the Chicago Tribune.
email this
permanent link
Activision shareholders are expected today to approve a merger with Vivendi Games in a deal that will shake up the gaming biz.
email this
permanent link
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.
Maverick investor Carl Icahn has asked Yahoo investors to oust the current board and elect Icahn’s slate, saying that Microsoft CEO Steve Ballmer would be interested in discussing a “major transaction” immediately if a new board were to be elected.
email this
permanent link
NBCU, along with private equity firms Blackstone Group and Bain Capital, will purchase the Weather Channel from Landmark Communications Inc. for about $3.5 billion - significantly less than the $5 billion the company was reportedly seeking.
email this
permanent link
Scripps’ cable television and website assets have begun trading as a separate company, following the long-awaited breakup of the media conglomerate, which was announced in October, writes the Wall Street Journal.
email this
permanent link
Microsoft has announced plans to acquire Powerset, a “natural search” firm that launched last year.
Triton Media Group is continuing to strengthen its online radio capabilities - which are focused on developing web strategies for radio broadcasters - with its acquisition of Radio Companion, a company that creates web applications and online tools for radio stations.
email this
permanent link
