The Conservative Cave
Current Events => General Discussion => Topic started by: Chris_ on June 05, 2010, 01:24:20 PM
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OpenGate Capital, the investment firm that owns TV Guide, plans to formally declare its interest in acquiring Newsweek before Wednesday's deadline for nonbinding bids, according to managing partner Andrew Nikou. Christopher Ruddy, publisher of the conservative monthly magazine Newsmax, said he also plans to bid.
Newsweek owner Washington Post Co. recently said it would try to sell the unprofitable magazine and hired Allen & Co. to shop it. The investment bank has circulated a summary of Newsweek and details about the bidding process, which requires prospective buyers to submit a purchase price and financing plan by 5 p.m. EDT Wednesday.
The nagging issue for prospective buyers is what to do with the magazine once they get it. Newsweek has tried to reinvent itself, having determined the proliferation of 24-hour Internet news outlets diminished the need for a weekly news-gathering publication. The reinvented Newsweek devotes more space to essays and commentary meant to spark discussion on topics in the news. The magazine has targeted a smaller, more sophisticated audience and is charging advertisers more to reach them.
http://online.wsj.com/article/SB10001424052748703957604575272581942971608.html?mod=WSJ_business_MediaMktNewsBucket
Someone get a shovel and call a priest. Newsweek is going to go belly up. :evillaugh:
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I thought Saban, the Power Rangers guy and Bloomberg might be interested, but oh well. I just wish they'd fold.
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Bloomberg changed their minds.
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In other words, it went from being one of the major news publications, though not a premier one, to being a haven for Leftist essayists who can only make a living by selling their drivel to other Leftists with more money.
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In other words, it went from being one of the major news publications, though not a premier one, to being a haven for Leftist essayists who can only make a living by selling their drivel to other Leftists with more money.
yup
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Christopher Ruddy, publisher of the conservative monthly magazine Newsmax, said he also plans to bid.
It this were to happen there would be reports of massive numbers of Newsweak people in bathtubs full of hotwater with open veins. :evillaugh:
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It this were to happen there would be reports of massive numbers of Newsweak people in bathtubs full of hotwater with open veins. :evillaugh:
That would be a bad thing?
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That would be a bad thing?
Yeah, that sounds like a 'Win-win' kinda thing to me!
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Yeah, that sounds like a 'Win-win' kinda thing to me!
Well yeah. Picture Elanor Cliff going off the deep end. :lmao: Makes my day.
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Actually, Newsmax also has a bid in on them.
Priceless.
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That would be grand if Newsmax gets it.. I do not think the left will let that happen.. Although Elton John did sell out sooooooo!!!!