Under terms of the filing, a debt-for-equity swap will clear almost $1 billion of Source’s $1.5 billion debt and make Citigroup the company’s majority shareholder. New York Post Naples Daily News (Fla.) Apr. 28, 2009
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)
Condé Nast plans to launch a UK version of Wired magazine and its accompanying website sometime in the first half of next year. David Rowan, who will be the lead editor of the title, is very excited about the launch and had this to say: “When I got approached by the best magazine publisher in [...]
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)
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 [...]