AAN News
Report: Marketers Will Pay More for Reader Data Than for Advertisingnew
The advertising broker and technology firm Pontiflex says in a recently released report that marketers will pay publishers an average price of $2.27 for each reader that fills out a form with their name, email address and other bits of personal information. "That hefty price suggests publishers should consider abandoning cheap ads sold for guaranteed prices and should instead try to use space on their web pages to convince readers to turn over their personal information," Forbes' Evan Hessel writes.
Forbes |
08-26-2009 12:36 pm |
Industry News
Creditor Gains Control of Creative Loafing
At today's equity auction, federal bankruptcy judge Caryl E. Delano gave control of Creative Loafing, Inc. to the company's largest creditor, Atalaya Capital Management. Atalaya's all-cash bid of $5 million won out over Creative Loafing CEO Ben Eason's bid of $2.32 million in cash and other securities. The deal is expected to close within 10 days. We've got a roundup of all the news here.
(FULL STORY)
AAN News |
08-25-2009 12:22 pm |
Industry News
Auction for Creative Loafing Gets Underwaynew
Creative Loafing (Atlanta)'s Thomas Wheatley is in Tampa covering the proceedings. He reports that CL CEO Ben Eason's opening bid was $2.3 million, including $825,000 cash and the rest in "in-kind contributions." Atalaya Capital Management countered by bidding $5 million in cash.
Creative Loafing (Atlanta) |
08-25-2009 11:31 am |
Industry News
Control of Creative Loafing Up for Grabs in Court Todaynew
Today's equity auction should be the culmination of nearly a year of bankruptcy court proceedings for the six-paper company. Creative Loafing (Atlanta) is reporting that creditor Atalaya Capital Management is trying to disqualify the other bid for the company, which has been put together by CL CEO Ben Eason. Atalya, calling Eason's bid "facially incomprehensible," is arguing that the sources for contributions included in Eason's bid "are not clear." Meanwhile, the Chicago Reader reports that Atalya managing partner Michael Bogdan has been calling CL publishers to assure them the hedge fund doesn't want to run the company into the ground. On the call to Chicago, Bogdan was joined by former Los Angeles Times editor James O'Shea, who would become a CL board member if Atalya wins control of the company. O'Shea tells Michael Miner that Atalya would make former Des Moines Register president Richard Gilbert interim CEO upon taking over.
Creative Loafing (Atlanta) | Chicago Reader |
08-25-2009 8:55 am |
Industry News
Study: Local Advertisers Continue Migrating to Digitalnew
Media Daily News |
08-24-2009 9:47 am |
Industry News
Bids for Creative Loafing Are In and Bidders Will Get Details Todaynew
Yesterday was the deadline for interested parties to submit their bids for Creative Loafing, Inc. to a bankruptcy court judge. According to a document filed yesterday, all bidders will be provided with the details of opposing bids by noon today. UPDATE (1:50 pm): Creative Loafing (Atlanta) is reporting that Eason's team and creditor Atalaya Capital Management will be the only two bidders at next Tuesday's auction.
Creative Loafing (Atlanta) |
08-21-2009 10:38 am |
Industry News
Creative Loafing's CEO and Creditors Both Confident About Auctionnew
No surprise here: Creative Loafing CEO Ben Eason and the company's largest creditor Atalaya Capital Management both tell the Atlanta Journal-Constitution they have high hopes for next week's auction of the company in Tampa bankruptcy court. "I think we are absolutely the best bid," Eason says. "Any bid has got to have cash, management and know-how, and be in a position to run the business and pay off debt. ... We have all of that." But Atalaya managing partner Michael Bogdan begs to differ. "We are going to come into court with a bid we believe will prevail," he says. "And if somebody starts with higher bid (sic), we are absolutely willing to raise our bid." It's expected that Atalya will bid a higher dollar figure than Eason's group, but Eason has said he will ask the judge to consider publishing expertise as part of deciding what the "highest and best" bid for the six-paper company is. The auction is slated for Tuesday, Aug. 25.
The Atlanta Journal-Constitution |
08-20-2009 8:52 am |
Industry News
Is VVM Close to Selling the Nashville Scene?new
The Tennessean is reporting that Village Voice Media and SouthComm Communications are discussing the sale of the Nashville Scene, which VVM acquired in 2006. SouthComm, which is based in Nashville and run by former Scene publisher Chris Ferrell, also owns AAN member LEO Weekly and a handful of Nashville websites and publications.
The Tennessean |
08-18-2009 10:44 am |
Industry News
Ben Eason Offers CL Managers Equity If They Join Bid for the Companynew
The Creative Loafing CEO tells the Chicago Reader he is working on a bid for the company that consists of three components: Eason and his family; BIA Digital Partners, who CL owes $10 million; "and managers from all across the company." Eason says the idea is to couple the pay cuts taken by the 25-30 managers with an offer of equity in the company and a chance to join the bid. "If it loses, Eason says, they'll be paid their deferred salaries out of auction proceeds," the Reader reports. "Managers who remain on the sidelines will get paid back either way." The idea is one way Eason hopes to set his bid apart from the bid expected from Atalaya Capital Management, CL's main creditor. He hopes the show of unity will impress the bankruptcy judge, who will hold the auction for the six-paper chain on Aug. 25. "You've got managers clearly invested in the business, in continuing to run the business, and in looking to keeping it going," Eason says. MORE: In other CL news, a Chicago blogger gives his in-depth analysis of the company's value.
Chicago Reader |
08-12-2009 2:57 pm |
Industry News
Philadelphia Weekly Executive Editor Among Those Leaving the Papernew
Longtime PW staffer and well-regarded mental health columnist and blogger Liz Spikol has left the paper. Philip Dawdy reports that Spikol will return to blogging at some point, but is currently taking a bit of a break. Her departure comes on the heels of recently reported layoffs, pay cuts and furloughs at the paper, moves addressed by PW parent company Review Publishing's president and chief operating officer in a statement given to AAN News. "Like most organizations, we needed to take proactive and hopefully temporary measures to preserve as many jobs as possible while best positioning the organization for long term growth," George Troyano writes. "We remain very optimistic about the future and will continue to invest in new initiatives and technologies. We will maintain a strategic and creative approach to best
maneuver through these challenging times."
Philebrity |
08-12-2009 10:28 am |
Industry News
Borrell: Newspapers Will Hit Bottom This Year, Then Reboundnew
Borrell Associates president Colby Atwood says in a new memo that he expects American newspapers to see a decline in 2009, then a mild rebound over the next five years. Although Atwood doesn't specifically discuss alt-weeklies, two of his key rebound factors seem to predict better times ahead for the industry. First, he notes that papers need to "reinvent themselves to serve smaller advertisers on the marketing side ... actively pursuing customers that
have never done business with newspapers before" -- a client base that many alts have traditionally tapped in a successful way. Editorially, he says the future is local, a space alt-weeklies have focused on for decades.
Borrell Associates |
08-10-2009 9:39 am |
Industry News
Tags: Financial, Management
Magazine Publishers Explore Alternative Revenue Models for Digital Editionsnew
Folio |
07-31-2009 11:14 am |
Industry News
Key Decision in Creative Loafing Bankruptcy Case Will Come Aug. 25new
In today's bankruptcy hearing, the judge said she will wait until the Aug. 25 equity auction to define what the "highest and best" offer will be, a decision that CL CEO Ben Eason has said will be of utmost importance to the future of the six-paper company. "While today's hearing about the rules and procedures for the bidding was given a pretty high-drama buildup ... it didn't live up to its billing and was actually a complex, confusing, and undramatic court session," Creative Loafing (Tampa)'s Wayne Garcia writes. Following the hearing, Eason told Garcia he's considering stepping down temporarily as CEO to focus on putting together a new bid for the company, though he said he hasn't made a decision yet and has no timetable in mind.
Creative Loafing (Tampa) |
07-29-2009 4:51 pm |
Industry News
Poll: Advertisers Migrating From Print To Webnew
A recent LinkedIn/Harris Interactive poll of 1,015 top executives at ad agencies and their corporate clients found that while the number of advertisers using print and online are still roughly equal the trend lines for the two media are headed in opposite directions. While 88 percent said they were using print, and 92 percent said online, 74 percent of those using internet say they are using it more than they did one year ago, while 49 percent of advertisers that use print say they are using it less.
Media Daily News |
07-27-2009 11:18 am |
Industry News
CEO Says Creative Loafing's Future Rests on Rules of Upcoming Auctionnew
Ben Eason tells the Chicago Reader that the key upcoming date in the ongoing bankruptcy saga of Creative Loafing is not Aug. 25, when the auction will be held, but July 27, when the judge sets the rules of the auction. He says the judge should restrict the ability of lender Atalaya Capital Management to bid on the company because "they'll put their money in and immediately take it out." He says that the issue should not just be who has the highest bid for the company, but the "highest and best" bid, which Eason thinks will be his. "For me it's my passion, my life, and everything," he says. "The real key here is not a financial play -- it's how everybody uses their publishing smarts and knowledge of online to fuse those models together. The game is not who's got the most money but who's got the most smarts to make the transition."
Chicago Reader |
07-22-2009 11:10 am |
Industry News
