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The judge in the Tribune Co.’s bankruptcy said Wednesday that there’s no way to avoid arguments about the media conglomerate’s 2007 leveraged buyout at a hearing on whether to confirm its reorganization plan.
But Judge Kevin Carey indicated that he will not hold a full-blown trial on buyout-related claims at the confirmation hearing, set to begin Aug. 30. Get the full story »
Jonathon Brandmeier, a former morning host at WLUP-FM 97.9, owes his former talent agent about $312,000, according to a lawsuit filed last week.
Lisa Miller and her Chicago-based Miller Broadcast Management Inc. went to Cook County Circuit Court to enforce a June 10 arbitrator’s decision to award the company $185,000 in unpaid fees plus more than $100,000 in attorney’s fees and interest. Get the full story »
AT&T Inc. accused Rainbow Media Wednesday of unfair negotiations in talks to continue carrying the AMC, IFC and WE TV networks less than two weeks before Emmy award-winning advertising drama “Mad Men” returns to the airwaves.
The telephone company accused Rainbow of giving a “competitive advantage” to its parent, Cablevision Systems Corp. Get the full story »
Midday host John Williams is moving yet again on the WGN-AM 720 schedule, this time to early afternoons, where he will be reunited with on-air partner and newsman Steve Bertrand.
The tweak to the schedule, the latest change of several at Chicago Tribune parent Tribune Co.’s radio station, calls for Williams to slide into the 12:30 p.m.-to-3 p.m. weekday shift, with the Aug. 9 arrival of Cincinnati import Mike McConnell in the 8:30 a.m.-12:30 p.m.
From Bloomberg News | Shareholders on Tuesday sued Playboy Enterprises and founder Hugh Hefner, charging that Hefner’s bid to take the company private denies them the best price for their shares.
From Broadcasting & Cable | In public hearing Tuesday in Chicago, rival cable operators, an independent programmer and a former FCC commissioner lined up to oppose the proposed merger of Comcast and NBC Universal.
The Federal Communications Commission has restarted its review of Comcast’s plan to take control of NBC Universal after the companies provided additional details about their businesses.
Comcast Corp. is seeking FCC and Justice Department approval to acquire a 51 percent stake in NBC Universal from General Electric Co. Federal regulators are expected to approve the deal with conditions. Get the full story »
Kmart is launching a new program where online reviews of video games will be displayed on store shelves, an initiative aimed at building ties between the chain’s online and in-store gaming fans.
Kmart, owned by Sears Holding Corp., announced the feature on its KmartGamer blog and in a live chat with gaming enthusiasts via Twitter. Get the full story »
From Crain’s Chicago Business | Anne Sempowski Ward, president and chief operating officer of Johnson Publishing Co., publisher of Ebony and Jet magazines, is stepping down. The move has prompted speculation that former White House social secretary Desiree Rogers, recently named a consultant to Johnson Publishing, may be in line for the job.
Comcast Corp. and NBC Universal has reached an agreement with the Independent Film & Television Alliance over their proposed merger, which is being reviewed by the Federal Communications Commission and Justice Department.
The alliance reversed its opposition to the merger on the grounds it would stifle creativity in exchange for a promise that Comcast and NBC would allocate $6 million over four years to a development fund for independent productions.
Hugh Hefner with a dozen Playboy Bunnies at the original Chicago Playboy Club in 1960. (Playboy)
Shares in Playboy Enterprises Inc. surged nearly 35 percent this morning after its board of directors said it received a proposal from Hugh Hefner to acquire all of the outstanding shares of the struggling media company for $5.50 per share in cash.
Hefner, 84, currently owns 69.5 percent of Playboy’s Class A common stock and 27.7 percent of its Class B common stock, and has teamed with a Michigan private equity firm called Rizvi Traverse Management LLC to fund the bid for the shares he doesn’t own.
The Hefner bid values Playboy at $185 million but could spark an auction for the company. Marc Bell, chief executive of FriendFinder Networks Inc., which owns the rival Penthouse adult franchise, said he is readying a competing bid for Playboy. Get the full story »
R.R. Donnelley & Sons Co. said Monday that it has been awarded a contract to produce the Harvard Business Review, the flagship magazine of Harvard Business Publishing. Terms were not disclosed, but Donnelley executives indicated the deal would be broader than it has been in the past. Get the full story »
Tech and media moguls who gathered in Idaho for an annual confab this week sounded a mostly cautious note on the economy. Big debts and still-depressed housing prices will continue to weigh on consumers, said Greg Maffei, CEO of Liberty Media Corp., whose entertainment businesses include the Starz pay-TV channel and QVC shopping network.
From Gawker | Playboy Enterprises said it is shutting down Playboy Portugal after a cover and pictorial, offered as a tribute to Nobel Prize-winning author Jose Saramago and his novel “The Gospel According to Jesus Christ,” depicted Jesus Christ with naked women.
“We did not see or approve the cover and pictorial in the July issue of Playboy Portugal. It is a shocking breach of our standards, and we would not have allowed it to be published if we had seen it in advance,” said Theresa Hennessy, Playboy Enterprises’ vice president of public relations.
Printing services company R.R. Donnelley & Sons Co. said Wednesday that it was awarded a multiyear contract to produce magazines and provide digital and commercial printing services for SourceMedia.
Details of the deal were not disclosed, although R.R. Donnelley said it was a multimillion-dollar contract. Get the full story »
