It looks like Rich Battista will get his chance to dilate Time,Inc.(TIME) after all. After months of speculation and talks, beginning just after he began as CEO last fall, Time announced on Friday that its Board had determined not to sell the company at this time and to instead continue pursuing Battista’s strategic plan. What is the key… Read More »
In discussing what became Tronc’s(TRNC) failed bid for Us Weekly, we mentioned that LA billionaire and Tronc Vice Chairman Dr. Patrick Soon-Shiong was not being renominated to Tronc’s Board. At the time we speculated as to why this was and whether it signified a rift between former allies Soon-Shiong and Tronc Chairman Michael Ferro, Jr. Subsequent event have… Read More »
Quick updates on two situations we wrote about with a spin and its former parent. Last week we reported that Tronc(TRNC) was close to a deal to buy Us Weekly for over $100 million. Tronc, formerly Tribune Publishing, is a spinoff of Tribune Media(TRCO). This week, reports indicate that Tronc’s discussions with Wenner Media over Us Weekly have… Read More »
Last Friday we wrote about Tronc(TRNC), the company formerly known as Tribune Publishing. Catching up on our reading, we came across a bullish piece from last week’s Barron’s on Tronc’s former parent, Tribune Media(TRCO). Despite a 30% increase in the last month, in part on speculation of a sale of the company, Barron’s continues to see significant upside… Read More »
Somehow, we never got around to talking about one of the worst names for a spinoff that we can recall. Of course, we are talking about tronc(TRNC). Tribune Media(TRCO) spun it off as Tribune Publishing, but, after Michael Ferro took over, it changed its name to tronc, which sounds like the name of a reptilian villain that… Read More »
It’s hump day. Here are some links to help you get through it: Marketfolly published some notes on a panel titled ‘The Future of Shareholder Activism’ at the Reuters Live Newsmaker Event. The panel featured some currently ‘active’ managers including ValueAct’s Jeffrey Ubben, Mantle Ridge’s Paul Hilal, Blackrock’s Zach Oleksiuk and Cadwalader’s Richard Brand (lawyer). Mr. Ubben has been… Read More »