New Branding Signals Gannett’s Evolution as a Full-Service Media and Marketing Company with Suite of Best in Class Digital Products
— Total gross revenues, excluding Political, increased 4.7% — Political revenues of $1 million compared with $7.5 million in 2012 — Broadcast Cash Flow was $27.5 million compared with $20.5 million in 2011 (last odd-numbered year); BCF margin was 34% vs. 29% in 2011 — Merger with Young Broadcasting progressing; completion expected in late third or early fourth quarter
The World Association of Newspapers and News Publishers (WAN-IFRA) has announced the topics for its first Digital Media Latinoamérica (DML) conference, which read like a strategic blueprint for news media companies developing successful digital platforms.
The E.W. Scripps Company (NYSE: SSP) reported operating results for the second quarter of 2013 that reflect an increase in local and national television advertising revenues and an increase in segment profit at the newspaper group. The Company also successfully rolled out its bundled subscription model in 11 of 13 newspaper markets.
— New credit facilities to refinance the combined debt of Media General and Young Broadcasting, at a substantially lower cost of capital, following completion of the pending merger — New $60 million revolving credit facility — New $885 million delayed draw term loan — Pro forma cash interest will be approximately $39 million annually
The New York Times Company (NYSE: NYT) has entered into an agreement to sell its New England Media Group to an acquisition company owned by John W. Henry, the principal owner of Fenway Sports Group, for $70 million in cash, subject to customary adjustments. The all-cash transaction is expected to close in 30 to 60 days. The company intends to use the net proceeds for general corporate purposes.
FP Newspapers Inc. (TSX:FP) (“FPI”) announces financial results for the quarter ended June 30, 2013. FPI is the successor to the business of the FP Newspapers Income Fund and owns securities entitling it to 49% of the distributable cash of FP Canadian Newspapers Limited Partnership (“FPLP”).
