More 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.
Bangladesh Awami League general secretary Obaidul Quader. File PhotoDescribing BNP’s election manifesto as a colourful balloon full of unrealistic pledges, Awami League general secretary Obaidul Quader on Tuesday said it will implode immediately if the party comes to power, reports UNB.”BNP has presented some unrealistic and weird promises which can’t be fulfilled,” he said, describing the election manifesto as the best joke of the year.The AL leader came up with the remarks while talking to reporters at a restaurant by the Dhaka-Chattogram highway in Chouddagram upazila of the district.BNP rolled out its manifesto for the 11th parliamentary elections on Tuesday with a set of promises, including making democracy an everyday practice, building a vengeance -free Bangladesh and raising GDP growth to 11 percent.
X To embed this piece of audio in your site, please use this code: 00:00 /00:37 Listen REUTERS/Jonathan Bachman/Via Texas TribunePolice tape in front of Santa Fe High School in Santa Fe, Texas on May 20, 2018.Texas lawmakers are meeting today in Austin to consider how to protect schools against gun violence. The hearing comes three weeks after the shooting at Santa Fe High School that killed 10 people and injured more than a dozen others. Efforts to curtail school shootings are also moving ahead in Houston.Mayor Sylvester Turner’s Commission Against Gun Violence is working to come up with safety measures that can be put in place before the next school year starts.Harris County Sheriff Ed Gonzalez is on the mayor’s commission. “This was already in the making for some time, so it wasn’t simply a response to Santa Fe,” Gonzalez says. “He’s concerned a lot about just everyday gun violence as well.”The commission held its first meeting at the end of May. Sheriff Gonzalez says Mayor Turner has also directed the group to come up with a second round of recommendations by year end, in time to propose them to state lawmakers before the Legislature convenes in January. Share
Share Jose Luis Gonzalez/ReutersThe Pentagon plans to build temporary camps for detained immigrants. Here, children of detained migrants are seen at a tent encampment near the U.S. Customs and Border Protection port of entry in Tornillo, TexasUpdated at 12:13 p.m. ETThe Pentagon will build tent camps at two U.S. military bases to house people who cross the southern border illegally, Defense Secretary James Mattis said Monday.The defense chief did not give details about the locations of the bases that would contain the camps. However, NPR’s Tom Bowman reports that the two military bases are in Texas.Migrant families will be housed at Ft. Bliss, an Army base outside El Paso, according to Bowman. Unaccompanied migrant children will be housed at Goodfellow Air Force Base, outside San Angelo. The Pentagon has been told to prepare for up to 20,000 unaccompanied minors, though it’s unclear whether all will be housed at Goodfellow or more bases will be called upon.Mattis said he expanded role in immigration enforcement is part of the armed services’ logistics and support mission, Mattis noted. As for how the process began, he said other government agencies had asked the Pentagon for help in housing detained migrants.The news comes one week after President Trump said, “The United States will not be a migrant camp, and it will not be a refugee holding facility.” He added, “Not on my watch.”Of the military’s plan to build camps, Mattis said, “providing shelter for people without shelter — we consider that to be a logistics function that is quite appropriate.”The secretary described the plan to reporters on board his plane as he traveled to Asia to visit his counterparts in China, South Korea and Japan.Mattis compared the temporary camps to the military’s response during a humanitarian crisis. “This is something that we can do,” he said. “Again, whether it be refugee boat people from Vietnam, people who’ve been knocked out of their homes by a hurricane — absolutely, it’s appropriate the military provide logistic support however it’s needed.”The Trump administration has pledged “zero tolerance” for illegal immigration, and the president has shaped and reshaped the policy. Meanwhile, the U.S. government separated more than 2,500 children from their parents at the border over a recent weeks-long period.The Department of Health and Human Services said over the weekend that it has been able to reunite 522 of those children with their families after they were taken into custody by U.S. Customs and Border Protection officials.The family-separation policy met with nearly universal outrage, and the president altered his policy last week. As a result, family units who are taken into custody after immigrating illegally are now subject to being detained together.Trump’s policy brought accusations that it was both illegal and cruel to separate migrant families — to put children into large holding facilities hundreds of miles away from their parents and caregivers. It also raised serious questions about what the government was doing to keep track of those kids, to ensure their parents could find them.The backlash includes the website TrumpHotels.org, a satirical takeoff on the president’s actual resort business website (whose address ends in .com). Instead of featuring photos of pools and golf courses, the site highlights images of detained children and adults living in fenced cages inside warehouse-like structures.Republicans in Congress have pledged to pass a new immigration law aimed at addressing concerns about migrants’ safety and legal protections — while also satisfying conservatives who want to clamp down on illegal border crossings.The political process is playing out amid intra-party discord and mixed messages from the White House as NPR’s Kelsey Snell reports — including Trump’s suggestion to ignore the issue until November, when he predicts Republicans will add to their majorities in Congress.Over the weekend, Trump said via Twitter, “We cannot allow all of these people to invade our Country. When somebody comes in, we must immediately, with no Judges or Court Cases, bring them back from where they came. Our system is a mockery to good immigration policy and Law and Order.”Copyright 2018 NPR. To see more, visit http://www.npr.org/.