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Feb. 7 at 11:47 a.m.

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Filed under: Advertising/Marketing, M&A, Magazines, Media, Newspapers, Updated

AOL to acquire Huffington Post for $300M

By Reuters

The Huffington Post this morning. (Reuters)

AOL Inc. will buy Arianna Huffington’s influential website for $315 million, looking to the high-profile liberal pundit to rescue it from the dustbin of Internet history.

The move comes at a hefty premium. AOL is estimated to pay 32 times earnings before interest, taxes, depreciation and amortization for the Huffington Post, said Benchmark Co analyst Clayton Moran.

Similar content deals, such as Hellman & Friedman’s acquisition of Internet Brands in September 2010, typically go for eight to 12 times earnings, said Moran. Get the full story »

Feb. 2 at 3:05 p.m.

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Filed under: Media, Newspapers, Technology

News Corp launches iPad newspaper at 14 cents/day

By Reuters

News Corp. Chairman Rupert Murdoch, among the most ardent defenders of the traditional press, launched the first ever newspaper created solely for tablet devices like the iPad.

Murdoch, along with Apple executive Eddy Cue, introduced the Daily during a Wednesday event at the Solomon Guggenheim Museum in Manhattan. Get the full story »

Feb. 1 at 4:13 p.m.

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Filed under: Bankruptcy, Media

Tribune lenders drop competing bankruptcy plan

By Reuters

A group of lenders has withdrawn its plan for reorganizing newspaper owner Tribune Co, leaving two proposals for ending the company’s two-year stay in bankruptcy, according to court documents.

The group known as the Bridge Lenders agreed to withdraw its plan and support Tribune’s proposal, which is based on a settlement among lenders JPMorgan Chase & Co and hedge funds Oak Tree Capital Management and Angelo, Gordon & Co. Get the full story »

Jan. 27 at 5:49 p.m.

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Filed under: Books, Media, Private equity, Retail

GE Capital tosses Borders a $550M lifeline

By Associated Press

Borders Group has received a commitment for a $550 million credit line from GE Capital, a lifeline that will help the struggling bookseller pay its vendors and stay afloat – but it indicated that bankruptcy protection might still be an option.

Its shares jumped 28 percent in after-hours trading on the news. Get the full story »

Jan. 27 at 5:24 p.m.

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Filed under: Chicago executives, Media, Newspapers, Radio, TV

Zell tells Forbes he won’t miss Tribune Co.

By Phil Rosenthal

Tower Ticker | The same day Tribune Co. reported an uptick in its business during 2010, Forbes Magazine posted an interview with Chairman Sam Zell in which the entrepreneur once more made it clear he won’t be sorry to say farewell to the Chicago-based media concern.

Jan. 27 at 1:36 p.m.

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Filed under: Media, Newspapers

News Corp. to unveil iPad newspaper next week

By Reuters

News Corp. is now set to unveil the world’s first iPad-only newspaper, The Daily, in New York next Wednesday. Get the full story »

Jan. 27 at 11:07 a.m.

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Filed under: Media, TV

Tammie Souza back, Amy Freeze out at Ch. 32

By Phil Rosenthal

Tower Ticker | Fox-owned WFLD-Ch. 32 on Thursday announced its re-hire of weathercaster Tammie Souza, a move rumored so long that viewers can be excused for thinking it occurred. It also has hired an Indianapolis anchor as a general assignment reporter.

As expected, WFLD will not be renewing the the contract of lead weathercaster Amy Freeze, who’s expected to leave in the next month after four years at the station. Bill Bellis, the chief meteorologist at Phoenix’s KNXV-TV since 2003, is set to slide into Freeze’s Channel 32 post in late February.

Sources said there were discussions with Freeze about continuing at WFLD in a non-weather role, but nothing has come of that.

In a move not involving the weather department, WFLD has hired Tisha Lewis, an anchor at Chicago Tribune parent Tribune Co.’s WXIN-TV in Indianapolis, as a general assignment reporter, beginning Feb. 2.

Jan. 27 at 6:14 a.m.

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Filed under: Consumer electronics, Media

Sony to launch new Playstation portable this year

By Reuters

Sony Corp. unveiled a new handheld gaming device, the first to feature 3G wireless connectivity, as it battles with Nintendo’s best-selling DS and tries to fend off competition from smartphones including Apple Inc.’s iPhone. Get the full story »

Jan. 27 at 5:56 a.m.

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Filed under: Media, Music

AGI moving some operations to suburban Chicago

By Associated Press

A London-based company which makes packaging materials for CDs and DVDs says it is closing its Jacksonville plant and laying off its 80 workers there. AGI tells the (Springfield) State Journal-Register the Jacksonville operations will move to a suburban Chicago facility by the end of June. Get the full story »

Jan. 26 at 12:44 p.m.

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Filed under: Bankruptcy, Earnings, Media, Newspapers, Radio, TV

Tribune Co. revenue climbs 1%

By Tribune staff report

Chicago-based Tribune Co. said Wednesday that operating cash flow at its two largest publishing units — the Los Angeles Times and Chicago Tribune — was essentially flat in 2010 compared to 2009, while overall operating cash flow increased $140 million to $635 million.

“The past year showed substantial improvement over 2009,” Chandler Bigelow, Tribune Co.’s chief financial officer, said in a statement. Get the full story »

Jan. 25 at 5:28 p.m.

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Filed under: IPOs, Media, Stock activity, TV

Nielsen IPO pulls in $1.6B at $23 a share

By Reuters

Nielsen Holdings, the consumer measurement firm known for its dominance in TV ratings, priced shares in its initial public offering above the expected range Tuesday.

Nielsen sold 71.4 million shares for $23 each, raising about $1.6 billion, an underwriter said. The company sold $250 million worth of mandatory convertible subordinated bonds alongside the IPO. Get the full story »

Jan. 25 at 9:40 a.m.

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Filed under: Internet, Media, Newspapers

Ongo online subscription news service launches

By Reuters

A personalized news service funded by New York Times Co., Washington Post Co ., and Gannett Co. launched Tuesday in an attempt to get readers to pay for online news.

Ongo, which received $12 million in funding from the three newspaper publishers, delivers news from a variety of sources starting at $7 a month. Get the full story »

Jan. 24 at 4:43 p.m.

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Filed under: Advertising/Marketing, Media, TV

Subway joins exodus of ‘Skins’ advertisers

By Reuters

Sandwich chain Subway Monday became the fifth company to distance itself from MTV’s controversial new series “Skins,” pulling its advertising from the teen show after a campaign by a parents TV watchdog.

A representative for Subway told The Hollywood Reporter the company would not be running its ads on Monday’s second episode of the drama series about misfit teens who dabble in drink, drugs and sex. Get the full story »

Jan. 24 at 12:43 p.m.

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Filed under: Bankruptcy, Litigation, Media, Newspapers, Radio, TV

Tribune creditors seek information on buyout

By Associated Press

Attorneys for creditors who oppose the Tribune Co.’s proposed reorganization plan are seeking more information related to the 2007 leveraged buyout that left the media conglomerate saddled with debt. Get the full story »

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