Comag Marketing Group, LLC » Wholesale – UK/Europe

Source Interlink Announces Pre-Packaged Chapter 11 Filing

Jennifer — Tue, 28 Apr 2009 15:52:16 +0000

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 Reports Quarterly Loss; Folds 3 Titles

Jennifer — Thu, 18 Sep 2008 16:18:57 +0000

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)

Hershey to Increase Wholesale Prices by 10 Percent

Jennifer — Mon, 18 Aug 2008 15:05:14 +0000

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)

Wired To Launch In UK

Greg — Mon, 30 Jun 2008 18:14:56 +0000

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 the world for the most exciting magazine – I thought ‘wow’.” Guardian (June 20, 2008)

Motor Presse France Buys 6 Titles

Greg — Mon, 30 Jun 2008 17:56:24 +0000

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 unit, had combined revenues of about 11 million euros last year. Reuters UK (June 30, 2008)

Source Interlink Reports Net $281 Million Loss

Jennifer — Mon, 09 Jun 2008 20:08:25 +0000

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) (June 9, 2008)

Source Interlink to Announce Fiscal 4Q and Full-Year Results April 15th

Jennifer — Wed, 26 Mar 2008 18:03:26 +0000

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 Releases Q3 Results — Cites Plan to Consolidate Mainstream and Specialty Magazine Distribution Platforms

Jennifer — Fri, 07 Dec 2007 18:28:57 +0000

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 for one month during the prior-year period. EBITDA in Source’s magazine distribution business increased by $3.4 million, or 56.4%, which Duckworth cited as “…strong indication that our cost savings initiatives are improving margins dramatically, in viturally all aspects of this business.” Source expanded its relationships with national clients during the quarter, picking up Walgreens stores in northern California and Ohio, Safeway stores in Arizona, and Paradies shops at the Detroit airpot. It added magazines to its book distribution business at Kroger and, on September 1st, became the exclusive magazine supplier for Borders. The company expects to realize greater efficiencies from its new McCook, Illinois, distribution center, which replaces older facilities in Chicago and Brainerd, Minnesota. In another effiency-enhancing measure, Source has introduced a new, web-based reporting system for its 4,000 in-store merchandisers.

Companywide, Source’s adusted income from continuing operations for the third quarter totaled $12.6 million — $0.24 per diluted share, a 60% increase per share over the prior-year period. On the call, executives reported strong sales in the third quarter and reiterated their guidance for fiscal 2008. Complete third quarter results are available in the press release. In addition, the earnings conference call was recorded and can be accessed through a link on the company’s website here. (Registration required.) Source Interlink Companies Press Release .PDF File Download (Dec. 6, 2007)