Print Round-Up: Bondholders Back INM Refinancing; Times Comments Increase; Newsquest Video Ads
—Independent News & Media: The Indy publisher has won backing from bondholders for its ambitious refinancing plan that will see them swap €123 million (£110.1 million) of debt for a 46 percent stake in the company in the form of 732 million newly issues shares. Shareholders vote on the deal on November 26. A €200 million (£179 million) bond was originally due to be repaid in May. Via Independent.co.uk.
—Times Online: The News International site claims it’s received 170,000 comments in the three months since it implemented Demand Media’s Pluck social media platform, a 30 percent increase on what it normally receives. It’s not immediately clear how this translates into extra revenue—except for creating more web traffic that papers can’t fully monetise—but New Corp’s forthcoming (but delayed) paid content plans could change that.
—Newsquest The Gannett-owned regional publisher has appointed News Corp.‘s .Fox Networks to handle its video ad sales account. .Fox’s Utarget division will selling across Newsquest’s 150 UK sites. From Media Week. Correction: Newsquest has contacted us to say that Media Week’s report is not correct and that the company has not signed up Utarget. The company says “We have used a number of video sales houses over the past couple of years of which uTarget just happens to be one.”
Posted In: Media & Publishing, Newspapers, TV, VOD, Companies, Independent News & Media, News Corp., Fox, Fox Interactive Media, News International
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