Source Interlink Companies yesterday reported a net loss of $296.7 million for the six months ending July 31, compared to a $4 million net income gain for the period last year. The company has also folded three underperforming titles: Car Audio and Electronics, Stock Car Racing and Mini Rider. Folio: (Sept. 17, 2008)
One analyst professed surprise at the size of the price increases, which the company said are being instituted to offset increasing ingredient costs. The Boston Globe (Aug. 18, 2008)
Britain’s largest supermarket chain, TESCO, has plans to open a wholesale Cash & Carry business in INDIA. In addition, Tesco has signed a deal with India’s TATA Group to develop it’s hypermarket business. Currently, India’s government has foreign investment rules that prevents multi-brand retailers such as Walmart and Tesco from opening retail outlets. They can only [...]
Italian publisher Mondadori has finalized a deal to sell six sports magazines to the French publisher Motor Presse France for 8.3 million euros. The magazines included in the transaction are Le Cycle, l’Officiel du Cycle de la Moto et du Quad, Bateaux, Golf Europeen, Golf Magazine and Guides Bel-air. The magazines, published by Mondadori’s French [...]
Source also wrote some $270.8 million off its books in the first quarter of fiscal 2009 to reflect the declining accounting value of its Source Interlink Media publishing division. The company is conducting a Q1 fiscal 2009 earnings conferernce call today. Southwest Florida News-Press Source Interlink’s 2009 First Quarter Results (.pdf file format) [...]
The company has scheduled a conference call to discuss the results at 4:30 p.m. Eastern Time on that day. Source Interlink Press Release (Mar. 25, 2008)
In response to rising costs, Hershey Co. is overhauling its supply chain — cutting jobs and outsourcing production of some products — and increasing its marketing efforts in emerging markets abroad. International sales now account for 13% of the company’s sales and are growing at 25% a year. That figure is even more impressive when compared with the annual [...]
Source Interlink Companies Chairman Mike Duckworth cited the consolidation plan as one of the company’s major initiatives in its magazine distribution business segment during a 3rd quarter earnings conference call, late yesterday. Third quarter revenue in the segment increased by 8.6% to $222.2 million, mostly because the company’s Anderson News acquisitions were only on its books [...]
In the midst of the housing crisis and talk of a possible recession, Rupert Murdoch has said that the coming year could be “rough.” Others think the curtain will come down on the current era of experimentation in new media forms. Magazines aren’t mentioned directly, but “Charlie Rutman, CEO of media buyer MPG in North America, told [...]
Source Interlink has agreed to purchase American Media Inc. for approximately $1.2 billion, according to New York Post media columnist Keith Kelly. The New York Post (Nov. 14, 2007)