Who Would Buy Newsweek

first_imgOne might assume that Newsweek could muster just as much interest. In fact, some parties apparently have already expressed an interest. Editor Jon Meacham told the New York Observer that he was contacted Wednesday by “two billionaires” who inquired about buying the magazine. Meacham himself said he’d consider rounding up some investors to place a bid. And then there was Henry Blodget, CEO and editor-in-chief of Business Insider, who offered only $1. (Remember OpenGate Capital’s $1 acquisition of TV Guide from Macrovision in 2008?)Jokes aside, I polled a small handful of our sources in the M&A market to pull together a list of companies/publishers that may make good suitors for Newsweek. Among them were OpenGate, Reuters, Politico, Dennis Publishing (owner of The Week), Newsmax, Tina Brown’s the Daily Beast and the Huffington Post. I fired off e-mails to reps at all but Reuters and the Daily Beast but couldn’t immediately reach any for comment.Some, of course, seem more likely than others. Upstart Politico, which is backed financially by Allbritton Communications owner Robert Allbritton, would make an interesting suitor if for no other reason than it was co-founded by Washington Post defectors John Harris and Jim VandeHei. Newsmax, which one source tells me will “very possibly” make a move for Newsweek, would be an interesting buyer because the Republican news monthly effectively could  snuff out a liberal-leaning rival. I’m sure Dennis Publishing owner Felix Dennis is still flush with cash after the sale of Maxim. But would the outspoken entrepreneur actually get involved?No doubt, it will be difficult for any potential player to justify buying Newsweek. The lag time between closing a deal and somehow making it profitable again would be long and weighed down with additional losses. A strategic buyer with deep pockets would make the most sense—a company that thinks buying Newsweek would add to the value/profitability of its own core business. That’s essentially what happened with Bloomberg and BusinessWeek. Not surprisingly, though, Bloomberg already has said it is not exploring a bid for Newsweek. Would others like Time magazine parent Time Warner or The Economist Group be willing to take the risk? I’m not so sure. After years of hefty losses, the Washington Post Company Wednesday said it had hired media and entertainment investment bankers Allen & Company to explore a sale of ailing Newsweek magazine.What does the market look like for a sale of Newsweek, a magazine that has been losing millions of dollars year-after-year? In 2009, Washington Post Co.’s magazine division, (which also included Budget Travel, until it sold in December) reported an operating loss of $29.3 million. “The losses at Newsweek in 2007 to 2009 are a matter of record,” Washington Post Co. chairman Donald E. Graham said. “Despite heroic efforts on the part of Newsweek’s management and staff, we expect it to still lose money in 2010.”Just last year, with the economic recession still rolling, several interested parties—including Joe Mansueto, ZelnickMedia and Platinum Equity— stepped forward when McGraw-Hill put BusinessWeek, a magazine that reportedly lost more than $40 million the year before, on the block. It eventually was acquired by Bloomberg LLC for only $5.9 million, after tax.last_img read more

Rinspeed Microsnap shrinks down for CES 2019

first_img Share your voice Concept Cars Electric Cars Auto Tech Rinspeed MicroSnap is a tiny, do-it-all electric pod Self-driving cars Last year at CES 2018, Rinspeed showed off its wild Snap concept, which blended autonomy with a hot-swappable “skateboard” platform. Rinspeed must have invented a shrink ray in the last year, because at CES 2019, it’s a fair bit smaller.Say hello to the Rinspeed MicroSnap, the latest concept from the wild minds behind the Swiss vehicle design house. Building on last year’s Snap, the MicroSnap shrinks the whole concept down to the size of a Renault Twizy, a European-market electric two-seater. Like its big-boy brethren, the MicroSnap’s platform is meant for fast swapping of the pods on top, which can be used to transport people or goods, depending on need.So why shrink it? Rinspeed says it’s to accommodate the explosion of online ordering, including fresh groceries. By making its concept small enough, the MicroSnap can focus on targeted deliveries that ensure fresh food arrives fresh. That idea works for human transportation, as well, offering direct routes without wasting time dealing with multiple parties.Enlarge ImageIt’s ready for both work and play, just not at the same time. Rinspeed “Customers increasingly want prompt deliveries and many passengers are unwilling to use shared taxis, which have to take time-consuming detours by design,” said Frank M. Rinderknecht, owner of Rinspeed, in a statement.Rinspeed never stops at the design stage with its concepts. The MicroSnap has been thought through from soup to nuts. It can display digital license plates, and the exterior lights use different colors to communicate different concepts to pedestrians. The human-transport pod can track a rider’s health and change the interior lights to improve the mood. There’s a 49-inch curved LED screen offering interaction for riders. There’s even an iris scanner to recognize occupants. It’s also 5G-capable, because of course it is.As you might expect, the Rinspeed MicroSnap is entirely electric. All the wear-and-tear components are relegated to the “skateboard” platform at the bottom, and Rinspeed says that they can be swapped in and out relatively quickly. As for the actual pod swapping itself, Rinspeed also create a robot assembly that uses articulating arms to remove and replace pods depending on what the concept needs to do next. It’s some real pie-in-the-sky stuff, but that’s what CES is all about. 2020 BMW M340i review: A dash of M makes everything better More From Roadshow 2020 Kia Telluride review: Kia’s new SUV has big style and bigger value Self-driving cars: Stay up to date on all the latest news in autonomy.CES 2019: Check out our favorite gadgets from the show in this constantly updating gallery. 0 Post a comment 41 Photos CES 2019 2020 Hyundai Palisade review: Posh enough to make Genesis jealous Tagslast_img read more

SwitchGuard keeps your Nintendo Switch safe from thieves filthy paws

first_imgThe SwitchGuard is pretty self-explanatory. Pintoro It’s safe to say just about everyone wants a Nintendo Switch, making it a prime target for thieves.Pintoro is offering deterrent in the form of SwitchGuard, a clear acrylic lockbox designed to keep the portable console safe from unwelcome hands, as previously reported by Nintendo Life.”The best way to deter theft of your Nintendo Switch at a tournament, in your dorm, in an office, or in your home!” the company wrote. The 29 best games on the Nintendo Switch Post a comment Gaming Accessories Consoles 29 Photos Now playing: Watch this: 2:38 Charge your Nintendo Switch over-the-aircenter_img The box costs $50, which is pricey but cheaper than replacing your Switch if it gets snatched. Nintendo sold more than 8.7 million units of the Switch between its March 2017 launch and November 2018, and it’s expected to sell 17.3 million worldwide in 2019, so there are no doubt plenty of concerned owners out there.First published at 6:31 a.m. PT.Updated at 7:20 a.m PT: Adds Pintoro comment.Nintendo Switch review: Pure fun on a big-screen TV or on the go.Super Smash Bros. Ultimate is out: Here’s everything you need to know. The top lock stops people from getting at the Switch inside, while a cable lock and slot secure the SwitchGuard itself. It also has numerous cutouts for ventilation — Switches can get pretty hot! — and for you to run various cables through.The company acknowledges that the box is more of the deterrent than an absolute security solution. It could be smashed open with a hammer when you bring it to a Super Smash Bros. Ultimate tournament.”The SwitchGuard is an excellent option for deterring thieves from picking up your Switch and just walking away,” Pintoro wrote in an emailed statement. 0 Share your voice Tags Nintendolast_img read more

Amazon ties up with Vodafone to boost its online market

first_imgAmazon India has tied up with Vodafone in an attempt to expand its customer base by attracting potential customers to go online. The two firms have launched a pilot project across the telecom company’s 40 stores in Bangalore, the Economic Times reported, to rope in those who are reluctant to shop online.The Vodafone stores will now display smartphones that are exclusively sold on Amazon, like Redmi Note 3, Lenovo K 4 Note and Cool Pad range. Customers can try out the new models in the presence of a “trained product specialist,” reports ET. The setting will give potential customers the touch-and-feel experience of these smartphones. Customers can also place online orders instantly and return to the store for post-purchase assistance.”With an aim to acquire incremental set of customers who are not yet shopping online, we are focusing on providing them with opportunities to experience the benefits of shopping on Amazon.in and build trust in the brand,” Arun Srinivasan, category leader of consumer electronics at Amazon India, was quoted as saying in the report.Amazon is leaving no stones unturned in this latest move. The e-retailer had announced project Udaan earlier this year, under which Amazon-branded physical stores will be opened in tier-2 and tier-3 cities to help customers without reliable internet connection shop online.The strategy, for which the e-retailer will have to consider tie-ups with physical stores, seems inevitable given the realities of bank account penetration and the latest available data on Prepaid Payments Instruments (PPI), which includes internet accounts and mobile wallets used to make online payments.According to a 2015 report by Price Water Coopers, PPIs contribute only 40% of all real-time transactions, suggesting that a majority of transactions (or untapped customer base) are still active offline.Amazon’s move appears to aim at this largely offline customer base. A reality check brought out by a 2016 Deloitte report says India’s e-commerce spending accounts for a mere 2 percent of the total retail spending in the country.For e-tailer like Amazon and Flipkart, making inroads into the realms of brick-and-mortar market or rural areas was hence only a matter of time. Flipkart had earlier announced it would set up 20 stores in 10 cities to let customers collect their purchase at a time convenient to them. These stores will also be pivotal to Flipkart’s “rural expansion strategy”, Mint had reported.last_img read more

White House again hit with staff upheavals

first_imgUS president Donald Trump speaks to White House Chief of Staff John Kelly after an event with reporters in the Oval Office at the White House in Washington, US on 10 October. Photo: ReutersAnother round of upheaval engulfed president Donald Trump’s White House on Tuesday, with the future of several senior aides in doubt just a week after U.S. congressional elections.Three Trump cabinet members – chief of staff John Kelly, homeland security secretary Kirstjen Nielsen and interior secretary Ryan Zinke – could soon be gone, said sources familiar with internal discussions in the Republican administration.Turnover among White House personnel paused during the run-up to last week’s elections after senior Republicans asked Trump to refrain from firing staff, hoping to minimize perceptions of disorder.Attorney general Jeff Sessions was forced out by Trump last week just hours after the results came in from the 6 November elections, which handed majority control of the House of Representatives to Democrats.Trump’s first 22 months in office have seen frequent shakeups. A study this year by the Brookings Institution, a think tank, found Trump’s White House has had the highest turnover of senior-level staff of the past five presidents.In an unusual move, sources said, Trump was also ready to dismiss Mira Ricardel, deputy national security advisor, at the request of his wife, Melania Trump, after a clash between the two over the first lady’s recent trip to Africa.Melania Trump’s office acknowledged the acrimony.Trump was expected to remove Nielsen, a source close to the White House said. Nielsen took the job after Trump made Kelly his chief of staff. But now the president is considering getting rid of both them, the source said.Zinke has been under investigation for several ethics controversies including travel and a business deal in his home state of Montana, casting doubt on how long he would remain at the helm of the agency.A final decision on his future could be postponed beyond this week. He is scheduled to travel to California on Wednesday and Thursday to visit communities hit by deadly wildfires, the Interior Department said on Tuesday.Trump last week said Zinke was doing an “excellent job” but left open the possibility of replacing him. “We’re looking at that, and I do want to study whatever is being said,” Trump told reporters last week.Adding to the sense of upheaval at the White House, Special Counsel Robert Mueller was planning to file more indictments in his 18-month investigation of Russian meddling in the 2016 presidential election and possible collusion between Moscow and the Trump campaign, sources said.last_img read more

OMalley Campaign Parts Ways with Jailed Virginia Volunteer

first_imgDemocratic presidential candidate Martin O’Malley (left), and campaign volunteer Michael C. Teegarden. (AP Photo and screengrab news report)HANOVER, Va. (AP) — Democratic presidential candidate Martin O’Malley’s campaign has “severed all ties” with a campaign volunteer in Virginia following the supporter’s arrest on felony child pornography charges.The Pamunkey Regional Jail in Hanover confirmed Saturday that Michael C. Teegarden was being held without bail on charges related to the online trading of child pornography. It was not clear if the 51-year-old Teegarden had an attorney.The Richmond Times-Dispatch first reported his arrested Thursday in Hanover County. The newspaper said he was O’Malley’s Virginia campaign chairman.In an email sent to The Associated Press, O’Malley spokeswoman Haley Morris said the campaign was “horrified by these allegations.” She described Teegarden as a volunteer.The Times-Dispatch reported that Teegarden was an executive at a wealth management company in the Richmond area and a former educator.last_img read more

Ladies First

first_imgMecca Verdell, Rebecca Dupas, Brion Layalihilmia, Shelly Washington, and Gayle Danley are the “Baltimore Queens of Poetry.” Some of the most dynamic poets in America happen to be from the Baltimore area and these five slayed a sold-out crowd of hundreds recently at the historic Arena Players playhouse.“The Baltimore Queens of Poetry” brought spoken word fire on Aug. 18 in front of a raucous crowd that hung on every word.Baltimore Queens of Poetry (AFRO Photo)“This show was stunning! The energy was electric and I am so grateful to each and every one of you who joined me (Aug. 18),”said Layalihilmia, who produced the show, via Facebook.“We were fierce and fly and I can’t wait for the next big thing in the #ladybspeaks saga.”last_img

Study shows starving mantis females attract more males

first_img Explore further A study done by Katherine Barry an evolutionary biologist with Macquarie University in Australia has led to the discovery that a certain species of female mantis attracts more males when starving, then do those who are well fed. In her paper published in Proceedings of the Royal Society B, she describes experiments she carried out that contradicted conventional thinking. I like bright butts – how male mantids locate females Scientists have known for quite some time that female false garden mantises attract males using pheromones—they’ve also known that the females quite often eat the male before it has a chance to mate with her. Up until now, however, it has been assumed that the better fed females, which produce more eggs, attract more males. This new study suggests such thinking has been in error.Barry had a hunch that the hungriest of the females likely produced more pheromones than did others, because they had more at stake. Attracting more males meant attracting more meals, thereby solving the hunger problem. To test her idea, she captured several females and placed them in mesh cages that kept them separate and hidden from males that were introduced later. First, she fed the females differing amounts over a period of time, causing them to have four different levels of nourishment: good, medium, poor and very poor. When the males were introduced she counted how many were attracted to those in the various groups. In studying the data, she found that the males were more attracted to the females that were graded as good verses medium or poor, but those that were labeled as very poor attracted over twice as many as those that were labeled as good. Thus, starving the female clearly led to a stronger attraction in males, which is impressive considering that such females tend to produce very few eggs and thus offspring. Instead of producing eggs, the females produce more pheromones to attract more males which are eaten to reduce hunger, and thereafter, more eggs.As an added note, Barry pointed out that starving females are quite adept at avoiding copulation—she bites off the head and forelegs, to prevent being mounted, but still must wrangle with the male, as he has an additional brain in his abdomen. It’s only after he dies that she eats him. More information: Sexual deception in a cannibalistic mating system? Testing the Femme Fatale hypothesis, Proceedings of the Royal Society B, rspb.royalsocietypublishing.or … nt/282/1800/20141428ABSTRACTAnimal communication theory holds that in order to be evolutionarily stable, signals must be honest on average, but significant dishonesty (i.e. deception) by a subset of the population may also evolve. A typical praying mantid mating system involves active mate searching by males, which is guided by airborne sex pheromones in most species for which mate-searching cues have been studied. The Femme Fatale hypothesis suggests that female mantids may be selected to exploit conspecific males as prey if they benefit nutritionally from cannibalism. Such a benefit exists in the false garden mantid Pseudomantis albofimbriata—females use the resources gained from male consumption to significantly increase their body condition and reproductive output. This study aimed to examine the potential for chemical deception among the subset of females most likely to benefit from cannibalism (poorly fed females). Females were placed into one of four feeding treatments (‘Very Poor’, ‘Poor’, ‘Medium’ and ‘Good’), and males were given the opportunity to choose between visually obscured females in each of the treatments. Female body condition and fecundity varied linearly with food quantity; however, female attractiveness did not. That is, Very Poor females attracted significantly more males than any of the other female treatments, even though these females were in significantly poorer condition, less fecund (in this study) and more likely to cannibalise (in a previous study). In addition, there was a positive correlation between fecundity and attractiveness if Very Poor females were removed from the analysis, suggesting an inherently honest signalling system with a subset of dishonest individuals. This is the first empirical study to provide evidence of sexual deception via chemical cues, and the first to provide support for the Femme Fatale hypothesis. Journal information: Proceedings of the Royal Society Bcenter_img Citation: Study shows starving mantis females attract more males (2014, December 17) retrieved 18 August 2019 from https://phys.org/news/2014-12-starving-mantis-females-males.html © 2014 Phys.org Pseudomantis albofimbriata. Credit: Donald Hobern/Wikipedia This document is subject to copyright. Apart from any fair dealing for the purpose of private study or research, no part may be reproduced without the written permission. The content is provided for information purposes only.last_img read more