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Have You Noticed Theres Been a Flurry of Magazine MA

first_imgMore than a few magazine and media executives spent the holidays putting the finishing touches on deal closures. We’re only 3 weeks into January and there’s been a flurry of M&A action—from decently big deals to small. Here’s a recap:Today of course Meredith announced it’s buying Allrecipes.com from Reader’s Digest Association, advancing a deep dive strategy into the food vertical as fast as RDA is pulling away from it, having also bought Everyday With Rachael Ray from them. The deal closely followed Meredith’s acquisition of FamilyFun from Disney Publishing earlier in the month. Harry Stagnito has sold Stagnito Media to private equity firm Topspin LBO, which also owns his son’s Vermont-based Moose River Media. The deal, says Stagnito, will allow the company to build out its marketing services and data and information products. Edwin V. Avent’s Heart & Soul magazine has been sold to a group of investors called Brown Curry Detry Taylor & Associates. BCDT’s principals all have direct ties to the magazine, having worked for it in one capacity or another.Hanley Wood is now owned by Oaktree Capital Management, Strategic Value Partners and Tennenbaum Capital Partners after going through a major recapitalization, cutting its debt from $410 million to $80 million.In a retreat from the U.S. market, Future plc sold its U.S. group’s Music Division, including 3 magazines, to NewBay Media for $3 million. Revenues for the group in Future’s fiscal 2011 were about $13 million. Grand View Media has taken over management of Shooting Sports Retailer magazine. While not technically a sale, Grand View may have an option to buy after a certain period of time and certain performance goals are met.F+W Media is expanding its food vertical coverage, too. It bought World Tea Media, which produces the World Tea Expo as well as associated editorial products.  Vibe Holdings has been merged with BlackBook Media and Access Network, forming Vibe Media. The combined entity will be owned by the Yucaipa Johnson Fund, backed by Ron Burkle and Earvin “Magic” Johnson, and InterMedia Partners.Bangor Metro, a regional magazine serving the Bangor, Maine region, has been sold to Cashman Asset Management.last_img read more

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Google revives Huawei work temporarily after US eases restrictions

first_img Tags Google will continue to work with Huawei for now. Getty Google said Tuesday it will continue working with Huawei for 90 days, after the US government announced it’s temporarily scaling back trade restrictions on the Chinese smartphone maker.On Monday, the US Commerce Department said it’s creating a general license that for now lets Huawei keep existing networks and issue updates to its phones and tablets. The reprieve is meant to give US companies time to figure out longer-term solutions and to protect consumers from security risks. The license expires on August 19. “Keeping phones up to date and secure is in everyone’s best interests and this temporary license allows us to continue to provide software updates and security patches to existing models for the next 90 days,” a Google spokesperson said in a statement. Huawei didn’t immediately respond to a request for comment. Now playing: Watch this: Comments Huawei P30 Pro vs. Galaxy S10 Plus: Editors react Phones Share your voice 6:54 Google’s decision not to cut ties with Huawei, the second largest smartphone company in the world, is a reversal of plans it announced earlier this week after the Trump administration effectively banned Huawei from the US, restricting the company’s access to US components and software. For Google, that meant suspending some business with Huawei, a key partner for its Android mobile operating system. Google reportedly said that it would stop providing Huawei with customer support and that upcoming versions of Huawei’s phones outside China would no longer get access to Google’s Play Store app marketplace and its marquee slate of services, including YouTube and Google Maps. Huawei, though, would still have access to the open-source version of Android without Google services. It’s unclear what Google will do after the 90-day license expires. Read: Samsung has the most to gain from Google putting Huawei on ice 4 Google Huawei Alphabet Inc.last_img read more

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