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News Breaks
June 13, 2014
06:12 EDTTIME, MDPTime Inc. initiated with a Buy at Citigroup
Citigroup expects the magazine industry to undergo a consolidation period with Meredith (MDP) acquiring Time Inc. (TIME) in Q4 of 2015. The firm initiated shares of Time with a Buy rating and $28 price target.
News For TIME;MDP From The Last 14 Days
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October 30, 2014
17:02 EDTMDPDOJ requires divestitures in Media General acquisition of LIN Media
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October 29, 2014
18:07 EDTTIMETime Inc. declares initial quarterly dividend of 19c per share
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October 23, 2014
08:05 EDTMDPMeredith sees Q2 EPS 95c-$1.00, consensus 99c
Sees Q2 revenue up in the low teens.
08:04 EDTMDPMeredith backs FY15 EPS view $3.00-$3.25, consensus $3.17
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08:04 EDTMDPMeredith reports Q1 EPS 65c, consensus 64c
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07:11 EDTMDPNexstar to acquire assets of KASW-TV for $68M from Meredith, SagamoreHill
Nexstar Broadcasting Group (NXST) has entered into a definitive agreement to acquire the assets of KASW-TV, the CW affiliate serving the Phoenix, AZ market for $68M plus working capital from Meredith Corporation (MDP) and SagamoreHill of Phoenix, LLC. The proposed acquisition is expected to be accretive to Nexstarís operating results immediately upon closing and inclusive of all other previously announced transactions, will expand the Companyís coverage to 57 markets in 22 states, reaching approximately 19.7 million television households. Nexstar intends to finance the station acquisition through borrowings under its senior credit facilities. The transaction is subject to FCC approval and other customary approvals, and is expected to close in the first quarter of 2015. In the first twelve months following the closing of the transaction, KASW-TV is expected to generate approximately $14M in adjusted broadcast cash flow and is expected to provide free cash flow accretion in the first year of ownership of approximately 30c per share.
October 16, 2014
16:30 EDTMDPOn The Fly: Closing Wrap
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