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

Is Mobile The Next Big Bump For City and Regional Mags

first_imgT.J. Raphael is the Associate Editor of FOLIO:. Follow her on Twitter: @TJRaphael The mobile Web has been a challenge, to say the least, for even the largest content publishers, and when it comes to city and regional magazines, strategies range from exploratory to non-existent. This month’s issue of FOLIO: has put a spotlight on city and regional magazine publishers and their strategies for reaching audiences, and advertisers, in the digital marketplace—our report shows that some publishers in this market are, in fact, responding aggressively to the changing marketplace despite previously held reservations.  “Most city and regional magazines are struggling to grow digital divisions because we’ve been print publications all along,” Ralph Martinelli, publisher of New York-based 55,000-circ Westchester Magazine, told FOLIO: in our April issue. “We’re expanding our digital division into a separate entity—one of our main goals is to do a tremendous amount of daily digital-only content that does not appear in print, and we’ve brought in digital-only editors. From a sales point of view, our digital-only reps partner with the print ad reps to present complete packages that includes print, digital and events.” The mobile, digital advertising market could be the next big thing for city and regional magazines—at least according to a new forecast from BIA/Kelsey, a local media and advertising research and consultancy firm.The firm predicts that mobile local advertising revenues will grow from $1.2 billion in 2012 to $9.1 billion in 2017, representing a compound annual growth rate of 43.9 percent. For the total U.S. mobile ad spending market, the firm estimates this sector to grow from $3.2 billion in 2012 to $16.8 billion in 2017.“This puts locally targeted mobile ads at 38 percent of overall U.S. mobile ad spending in 2012, growing to 54 percent in 2017,” a statement from the company says. While search and display is top of mind, the firm notes that other areas of mobile are also growing:Display advertising applied to apps and mobile Web inventory is estimated to grow from $379 million in 2012 to $2.7 billion in 2017.Search will grow from $704 million in 2012 to $5.7 billion in 2017.SMS messaging will grow from $101 million to $162 million in 2017.Video distributed within apps and mobile Web inventory will grow from $38 million in 2012 to $515 million 2017.Since local mobile ad revenue is estimated to account for a whopping 54 percent of overall U.S. mobile ad spending, city and regional magazines are well positioned to tap the national advertising market in ways they never dreamed of. Local communities not only trust city and regional mags, but these brands have the audience infrastructure and local knowledge to offer national ad partners exciting new options in their quest for local ad messaging.last_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