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CHICAGO, Oct. 15, 2019 -- Tribune Publishing (NASDAQ:TPCO) today announced it will report its financial results for the third quarter ended September 29, 2019, on Thursday,.
Less than three months ago, Tribune Content Agency, a division of Tribune Publishing Co (NASDAQ: TPCO) inked a deal with cannabis content provider The Fresh Toast to provide reliable cannabis information on its platform. Earlier this week, the media company disclosed millions of people are reading this cannabis-focused content on a daily basis. Tribune Publishing Chief Digital editor Grant Whitmore said the content resonates with readers from around the United States.
(Bloomberg) -- Every two weeks, Jeff Bezos holds a meeting with Washington Post engineers in part to discuss a product called Arc, which helps companies publish online. The software is a growing part of the Post’s business -- albeit less visible than its scoops about the Trump administration.Now, Arc is expanding into a new market, striking a deal with its first nonmedia customer: BP Plc. The energy giant’s communications team will use Arc’s software to publish articles and videos to its 70,000 employees across 250 internal websites, newsletters and a future mobile app.“We realized that many large companies are essentially publishers,” said Fred Ryan, the Post’s publisher.Post executives say Arc’s suite of tools makes it easier for companies to post on different platforms -- including apps, mobile websites, newsletters and social media -- and make money through advertising or subscriptions.The Post created the Arc licensing business in 2014 by giving what had been its newsroom’s proprietary software away free to college newspapers. Its customer base has expanded to media companies that run more than 600 websites globally, including the Boston Globe, Tribune Publishing Co. and Raycom Media Inc. Now, the Post sees a chance to license its software to companies beyond the media industry.Surging SalesArc has about 250 employees, with many engineers working out of an office in Chicago. Its sales tripled from 2016 to 2017 and then more than doubled the following year. Within the next three years, Arc expects to generate $100 million in annual revenue, said Shailesh Prakash, chief information officer and vice president of product at the Washington Post. Arc isn’t yet profitable, Prakash said, but he sees it becoming the Post’s third major revenue stream.“I’m very confident this will be comparable to our advertising and subscriptions business,” Prakash said.Arc is one of a few companies that sell publishing technology. One of them is WordPress.com, whose parent company, Automattic Inc., raised $300 million this month from the tech giant Salesforce.com Inc. Vox Media Inc., owner of the Verge, Eater and Recode websites, licenses its publishing platform, called Chorus, to media outlets such as the Ringer, led by Bill Simmons.Arc has an advantage, Prakash said, because it is tied to Amazon.com Inc.’s cloud computing operation, Amazon Web Services, and is built by the Washington Post.“We have cranky journalists who demand and use this every day, so there’s nowhere for me to hide,” Prakash said.Strategic DecisionsPrakash said he often talks to Bezos about strategic decisions with Arc and has showed him demos of the software. Bezos recently suggested that Arc switch to a serverless architecture that has made the product faster and cheaper to run, he said.Having Bezos as an owner has also helped the Post recruit and retain engineers, Ryan said.“You could be a top engineer at any one of the major tech platforms, but it would probably be unlikely that you’d be engaging with the CEO of that company on any regular basis,” Ryan said. “But here, you have these engineers who roughly every two weeks are engaging with Jeff Bezos, one of the leading technologists of our time.”To contact the reporter on this story: Gerry Smith in New York at firstname.lastname@example.orgTo contact the editors responsible for this story: Nick Turner at email@example.com, John J. Edwards IIIFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
CHICAGO, Aug. 21, 2019 -- Tribune Publishing Company (NASDAQ:TPCO) announced today Randy Novak, an executive with 20 years of advertising experience including media roles on.
The Chicago Tribune announced today the winners of its 2019 Literary Award and Heartland Prizes, which will be presented at the Chicago Humanities Festival on November 3 and October 27, respectively. For its Literary Award winner, the Tribune will celebrate Henry Louis Gates, Jr., a pioneering American scholar and literary critic who has enriched public life and conversation in his passionate devotion to African American history, culture and literature. Gates – who was awarded the Heartland Prize in 1994 for his memoir, “Colored People” – will receive the award November 3 at the Harris Theater.
Net income from continuing operations up more than $20 million year-over-year Continued growth momentum in digital-only subscribers reaching 300,000 CHICAGO, Aug. 07,.
(Bloomberg Opinion) -- Better the devil with money than the devil without it.USA Today publisher Gannett Co. announced late Monday that it would sell itself to New Media Investment Group Inc. in a cash-and-stock deal valued at $1.9 billion including debt, or about $12.06 a share based on last week’s closing prices. The agreement combines the two largest newspaper publishers in America and comes just three months after Gannett successfully rebuffed a proxy fight launched by an Alden Global-backed newspaper group in a bid to force the board to consider its $12 a share takeover offer.In that fight, Gannett lambasted Alden’s penchant for aggressive cost cutting and seemingly endless journalist firings, saying these practices undercut “papers’ ability to produce quality journalism and retain subscribers.” But New Media is hardly a neophyte when it comes to cost cutting. At the end of the day, it appears it was really just about the money. New Media has clinched a term loan from Apollo Global Management to fund the takeover, whereas Alden’s bid lacked any firm financing commitments. Put another way, New Media was able to afford a Gannett takeover; Alden wasn’t.The $300 million in annual savings New Media is targeting from the merger of its GateHouse Media operations with Gannett is a huge number and implies a dizzying level of cost cuts. That’s nearly 7% of the companies’ combined sales over the past year. By comparison, when Gannett pursued Tribune Publishing Co. in 2016, the only public synergy number the company gave was $50 million. Gannett indicated at various points that the ultimate savings could be higher, but there’s no reason to think that in that contentious battle, the company was withholding the fact that synergies could in fact be six times as high.For the sake of argument, let’s say Gannett was really eyeing something more like $100 million in cost savings from a Tribune deal. That would have been a little over 2% of Tribune and Gannett’s combined sales in 2016. Another key difference is that at that point in time, Tribune was a relatively fatty newspaper company and needed some operational improvement. Gannett and GateHouse’s cost cuts will come on top of years’ worth of trimming.The companies say the savings will come from the increased scale of the organization, the sharing of best practices, leveraging existing infrastructure, facility rationalization and other “judicious” cost reductions, which I’m going to assume is a euphemism for job cuts. Against this backdrop of heavy cost cutting and the need for consolidation to survive, New Media does appear to be cutting its dividend, but the company expects to raise the payout over time as it repays debt.Speaking of debt, you know who doesn’t have very much of it anymore? Gannett’s former would-be partner, Tribune. The company had a net cash balance at the end of 2018 and just $48 million of net debt as of March, according to data compiled by Bloomberg. Recall that Tribune had reportedly attempted to rekindle merger talks with Gannett in the weeks before Alden-backed MNG Enterprises Inc. launched its pursuit of the company. Gannett staunchly defended its digital initiatives amid criticism from Alden about a lack of return. While it claims the New Media deal will help it accelerate its investments on that front, it remains unclear to me why it wouldn’t be preferable to tap Tribune’s relatively pristine balance sheet. A deal with Tribune is hardly without its own share of risks, though, in a time of declining circulation and advertising dollars.At the end of the day, I’m not sure there are any great options left for newspaper companies. New Media shares fell 7.6% on the news of the Gannett merger Monday and were down as much as an additional 17% on Tuesday. It's a sign that investors have their doubts about the companies’ ability to achieve the deal’s purported benefits. The decline also puts the offer price well below the $12 Alden Global had offered (albeit without ever giving a firm indication of the financing to back that up). This deal may be all about the money, but it says a lot that Gannett, the largest newspaper publisher by circulation, now views itself as a seller in this environment.To contact the author of this story: Brooke Sutherland at firstname.lastname@example.orgTo contact the editor responsible for this story: Beth Williams at email@example.comThis column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Brooke Sutherland is a Bloomberg Opinion columnist covering deals and industrial companies. She previously wrote an M&A column for Bloomberg News.For more articles like this, please visit us at bloomberg.com/opinion©2019 Bloomberg L.P.
As part of a new partnership, content from The Fresh Toast will be offered across 600 media and digital information publishers who receive content from Tribune, the companies said in a press release. Tribune cited the growing public interest in cannabis and related products and the medical marijuana movement in its decision to partner with The Fresh Toast.
CHICAGO, July 23, 2019 -- Tribune Publishing (NASDAQ:TPCO) today announced it will report its financial results for the second quarter ended June 30, 2019 on Wednesday, August.
NORFOLK, Va. and NEWPORT NEWS, Va., July 22, 2019 -- Tribune Publishing (NASDAQ:TPCO) announced today that Kris Worrell has been named Editor-in-Chief of the Virginian-Pilot in.
Hedge fund managers like David Einhorn, Bill Ackman, or Carl Icahn became billionaires through reaping large profits for their investors, which is why piggybacking their stock picks may provide us with significant returns as well. Many hedge funds, like Paul Singer’s Elliott Management, are pretty secretive, but we can still get some insights by analyzing […]
The commemorative section, provided to subscribers on Sunday June 23rd, will also be inserted into editions of the Daily News throughout the week and available for purchase at newsstands. The 120-page print and digital edition includes the history of the paper, renowned Daily News photos by decade, contributions from several legendary News columnists and a look at a century of news stories. Newsies in traditional outfits will be distributing the section during the Wednesday afternoon rush hour at Grand Central Station, Penn Station, Port Authority, Union Square and Staten Island Ferry. “This is a celebration of our past, even as we are very focused on the future,” said Terry Jimenez, CFO, Tribune Publishing.
rose 1.3% to $7.73 on Thursday following a report that the media giant held merger talks with Gatehouse Media. The deal with Gatehouse would unite the two largest newspaper chains in the U.S. Neither company immediately responded to requests for comment. Gannett operates more than 100 newspaper operations in 34 states and 160 online news brands in the U.K. GateHouse publishes 156 daily newspapers, 464 community publications, and operates in more than 615 local markets in 39 states.
Investing.com - USA Today publisher Gannett climbed on Thursday after a report that it was looking to team up with Gatehouse Media, a deal that would combine the two largest U.S. newspaper chains.
CHICAGO, May 30, 2019 -- Tribune Publishing Company (NASDAQ: TPCO) today announced that its Board of Directors has declared a special cash dividend of $1.50 per share, or.
Meredith (MDP) witnesses solid earnings and revenue growth in third-quarter fiscal 2019 due to strong performance across segments. However, a slashed EBITDA and earnings view hurts investor sentiment.
Company Delivers Year-Over-Year Revenue Growth Driven by Continued Increases in Digital Subscribers Ongoing Cost Management Efforts Support Improved Profitability CHICAGO, May.
Tribune Publishing Company (TPCO) announced today that the Chicago Tribune passed 100,000 digital-only subscribers last month. “This is a milestone – not a destination – as we accelerate toward being a truly digitally-focused company,” said Timothy P. Knight, CEO and President, Tribune Publishing. The Chicago Tribune’s breakthrough represents just a portion of digital-only subscriptions at Tribune Publishing, which continues to enhance its capabilities under Mark Campbell, Chief Marketing Officer of Digital Subscriptions.
CHICAGO, April 29, 2019 -- Tribune Publishing (NASDAQ:TPCO) today announced it will report its financial results for the first quarter ended March 31, 2019 on Wednesday, May 8,.