Scripps Networks Interactive announces $1 billion share repurchase program
*Scripps Networks Interactive announces $1 billion share repurchase program*
KNOXVILLE, Tenn.–(BUSINESS WIRE http://www.businesswire.com/)–Scripps Networks Interactive Inc. (NYSE: SNI) announced that its Board of Directors has authorized a $1 billion share repurchase program.
As part of this program, the company agreed to repurchase 6,430,027 shares of its Class A Common Shares for approximately $300 million, or $46.66 per share, from The Edward W. Scripps Trust, the company’s controlling shareholder. The remaining $700 million authorization is for the general repurchase of Class A Common Shares on the open market or through private transactions. The timing of purchases for the authorization will be based on market conditions and other factors. The share repurchase program announced today replaces the board’s previous 5-million share authorization approved in 2008.
“The decision to repurchase shares from the Scripps Trust and initiate a meaningful share repurchase program demonstrates our faith in the financial strength of our lifestyle media businesses and the company’s ability to generate strong free cash flow,” said Kenneth W. Lowe, chairman, president and chief executive officer for Scripps Networks Interactive. “It also reflects our commitment to create value for shareholders; provides us with ample resources to meet operating requirements; and gives us the financial flexibility we need to invest in the company’s long-term growth.”
The Edward W. Scripps Trust will remain the company’s single largest shareholder with approximately 26 percent of the company’s Class A Common Shares following today’s transaction. The Trust also holds approximately 93 percent of the company’s controlling class of shares (Common Voting Shares), for which there is no public market.
The Trust has from time-to-time sold Class A Common Shares that it holds. The most recent previous sale was in November 2004 prior to the company’s separation in 2008 from The E. W. Scripps Company. The Trust has indicated to the company that at this time it has no further plans to reduce its holdings of the company’s Class A Common Shares.
*About Scripps Networks Interactive*
Scripps Networks Interactive is one of the leading developers of lifestyle-oriented content for television and the Internet, where on-air programming is complemented with online video, social media areas and e-commerce components on companion Web sites and broadband vertical channels. The company’s media portfolio includes popular lifestyle television and Internet brands HGTV, Food Network, Travel Channel, DIY Network, Cooking Channel and country music network Great American Country.
New-Vehicle Sales Weaken as June Closes
*J.D. Power and Associates Reports: New-Vehicle Retail Selling Rate Slips as June Closes, but Month Still Stronger than May*
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*****WESTLAKE VILLAGE****, Calif.****: 30 June 2011 *— The pace of new-vehicle retail sales has cooled in the third week of June, after exhibiting a stronger pace during the first two weeks of the month, according to J.D. Power and Associates, which gathers real-time transaction data from more than 8,900 retail franchisees throughout the United States.** **
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The June retail seasonally adjusted annualized rate (****SAAR****) is expected to come in below 9.8 million units, but still nearly 500,000 units better than May. The total light-vehicle selling rate is expected to be below 12 million units for the second straight month.****
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“Sales in June typically face pressure from being between two strong selling holidays—Memorial Day and Independence Day—but incentive levels $500 below the first-quarter average and depleted vehicle inventory have added to the pressure as the month progressed,” said Jeff Schuster, executive director of global forecasting at J.D. Power and Associates. “However, the fundamentals remain in place for a marked return to the recovery pace set in the first four months of the year.”
*About J.D. Power and Associates*
Headquartered in ******Westlake Village**, **Calif.******, J.D. Power and Associates is a global marketing information services company providing forecasting, performance improvement, social media and customer satisfaction insights and solutions. The company’s quality and satisfaction measurements are based on responses from millions of consumers annually. For more information on car reviews and ratings http://www.jdpower.com/autos, car insurance http://www.jdpower.com/insurance, health insurance
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*About The McGraw-Hill Companies*
Founded in 1888, The McGraw-Hill Companies is a leading global financial information and education company that helps professionals and students succeed in the Knowledge Economy. With leading brands including Standard & Poor’s, McGraw-Hill Education, Platts energy information services and J.D. Power and Associates, the Corporation has approximately 21,000 employees with more than 280 offices in 40 countries. Sales in 2010 were $6.2 billion. Additional information is available at http://www.mcgraw-hill.com.****
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[Adicio] Increased Hiring in Los Angeles, Miami, and Tampa, Says New CareerCast.com/JobSerf Employment Index
*Increased Hiring in Los Angeles, Miami, and Tampa, Says New CareerCast.com/JobSerf Employment Index** *
*Seattle, DC, Detroit, Louisville, and Indianapolis Show Double Digit Job Losses
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CARLSBAD, CA/RICHARDSON, TX (June 28, 2011) – Managerial recruitment activity, which trended downward in May, has leveled off somewhat with a minimal decline of 0.2 points in June, according to the new CareerCast.com/JobSerf Employment Index. The June 2011 Index, which measures managerial hiring activity online, is nearly 40 points higher than it was in June 2009, which is a hopeful sign of long-term recovery in the job market.
“Since we began tracking executive hiring with the Index in 2008, we have traditionally seen a slight increase in hiring from May to June each year,” says Jay Martin, COO, JobSerf. “2011 is the first year we had a loss of jobs in June.”
Los Angeles saw a gain of 13% in managerial hiring over last month, followed by Miami (+10%) and Tampa (+4%). Five cities had double-digit losses in June: Seattle (-15%), Washington, DC (-12%), Louisville (-12%), Detroit (-12%) and Indianapolis (-11%).
“Although we are still concerned about the lag in hiring, the past year has shown a steady rebound in the number of employment opportunities,” says Tony Lee, publisher, CareerCast.com. “We can expect a few bumps in the road on the way to a full recovery.”
The CareerCast.com/JobSerf Employment Index per capita hiring levels for U.S. cities in June are:
1. Washington, DC – 153****
2. Boston – 131****
3. San Francisco – 110****
4. Seattle – 103****
5. Atlanta – 88****
6. Chicago – 85****
7. Baltimore – 81****
8. Denver – 77****
9. New York City – 77****
10. Nashville – 75****
11. Cleveland – 70****
12. Dallas – 68****
13. Philadelphia – 67****
14. Hartford – 64****
15. Houston – 63****
16. Milwaukee – 61****
17. Louisville – 60****
18. Minneapolis – 59****
19. Los Angeles – 59****
20. San Diego – 59****
21. Pittsburgh – 59****
22. Miami – 55****
23. Indianapolis – 55****
24. Phoenix – 54****
25. Cincinnati – 54****
26. St. Louis – 51****
27. Tampa – 50****
28. Memphis– 39****
29. Detroit – 37****
30. Riverside – 25****
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The CareerCast.com/JobSerf Employment Index is an exclusive barometer showing managerial hiring activity based on the number of jobs posted online nationally. The Index reveals the differences in job listings by month, and offers valuable trends and forecasts using proprietary employment data hand-counted by a team of researchers.
To read the full report and get more information on the best and worst cities to find a job, visit www.careercast.com/career-guidance/employment-trends.****
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*About JobSerf *JobSerf, Inc. (www.jobserf.com) is a privately held Texas-based corporation that pioneered the job search outsourcing (JSO) industry with its revolutionary ‘Find & Apply’ service. The company’s patent-pending process provides for an affordable means to both ‘find & apply’ for jobs on behalf of clients. For more information, visit the website at www.jobserf.com.****
** ** About CareerCast.com****
CareerCast.com http://www.careercast.com/, created by Adicio
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Inside The New York Times Encourages Audiences to Consider the Source
*Participant Media’s Social Action Campaign for PAGE ONE: Inside The New York Times Encourages Audiences to Consider the Source*
LOS ANGELES–(BUSINESS WIRE http://www.businesswire.com/)–Participant Media’s Social Action campaign for the film *PAGE ONE: Inside The New York Times* features a series of screening and conversation events and online actions designed to explore the relationship between traditional and new media, the future of news, the value of original reporting and various aspects of media literacy and reform. The documentary feature, from Participant, Magnolia Pictures and History Films, is currently playing in New York and Los Angeles and expands to select cities this Friday, July 1st.
Liana Schwarz, Participant’s Senior Vice President of Social Action & Advocacy, said, “Just as the film chronicles the transformation of the media industry at its time of greatest turmoil, we have joined forces with such organizations as NewsTrust, ProPublica, Free Press and the News Literacy Project for a Social Action program to examine how we can best ensure that this transformation leads to a more informed and discerning audience. We designed the campaign with actions people can take to seek out and support quality journalism, oppose media consolidation and push for media reform.”
The campaign was launched May 25th with a screening and panel at the Seattle International Film Festival, followed by a screening and panel event June 21 st in Chicago; June 27th in Detroit; and June 29th in Atlanta and Denver.
Participant’s Social Action site, TakePart.com/PageOne, features a multi-part original video series that profiles award-winning reporters, photojournalists and voices in digital media**including Pulitzer Prize winners Barbara Laker and Wendy Ruderman. In addition, the site hosts two infographics: one was created in collaborating with ProPublica that deconstructs their Pulitzer Prize winning news story “Deadly Choices at Memorial” to demonstrate the importance of original reporting in the digital age; the second is a digital version of a mini-newspaper we created with graphics and statistics about news and newsrooms. The digital team has given the film a vibrant social media presence and will soon be having a online giveaway for an illustration created especially for *PAGE ONE* by Mixed Media Daily, an artist drawing the front page of the LA Times, every day for 2011.
In addition, PublicAffairs Books has just published the Participant Media companion book, *PAGE ONE: Inside The New York Times and the Future of Journalism*, edited by NPR’s David Folkenflik who has convened an impressive lineup of media savants to talk about the present and the future of news.
In the coming months, Participant and FreePress will host in Boston a grassroots community town hall on local media designed to educate, mobilize and empower citizens to help define and shape the future of news in their communities. This town hall will provide the opportunity for community members, journalists, local policy makers and other stake holders to brainstorm, network and work to re-shape the framework for journalism that exists in their city. In addition, as series of screenings and conversations at schools of journalism will be part of the Social Action campaign at DVD.
Filmmakers Andrew Rossi and Kate Novack were given unprecedented access to The New York Times newsroom and the inner workings of the Media Desk for *PAGE ONE: Inside The New York Times*. Writers like Brian Stelter, Tim Arango and the salty but brilliant David Carr track print journalism’s metamorphosis even as their own paper struggles to stay vital and solvent, while their editors and publishers grapple with up-to-the-minute issues like controversial new sources and the implications of an online pay-wall. Meanwhile, rigorous journalism is thriving — *PAGE ONE* gives us an up-close look at the vibrant cross-cubicle debates and collaborations, tenacious jockeying for on-record quotes, and skillful page-one pitching that brings the most venerable newspaper in America to fruition each and every day.
Participant Media is an entertainment company that focuses on documentary and narrative feature films, television, publishing and digital content about the real issues that shape our lives. For each of its projects, Participant creates social action and advocacy programs to transform the impact of the media experience into individual and community action. Participant’s online Social Action Network is TakePart (takepart.com). Founded by Chairman Jeff Skoll in 2004, Jim Berk serves as CEO and Ricky Strauss as President. Participant’s films include *The Kite Runner, Charlie Wilson’s War, An Inconvenient Truth, Good Night, and Good Luck. , The Visitor, Food, Inc., The Cove, The Crazies, Countdown to Zero, Waiting for “Superman,” Fair Game*, *PAGE ONE: Inside The New York Times, The Help, Circumstance* and *Contagion*.
New Research Shows National Advertisers Are Buying Local; 90% of Agency Respondents Say Clients Are Buying More Local Online Ads Than Ever Before
*New Research Shows National Advertisers Are Buying Local; 90% of Agency Respondents Say Clients Are Buying More Local Online Ads Than Ever Before*
*60 Professionals from the Country’s Top Advertising Agencies Weigh in on Local Online Advertising and Why Their Clients Are Demanding It*
PALO ALTO, Calif.–(BUSINESS WIRE http://www.businesswire.com/)–Topix ( www.topix.com
“Monetization has been the huge question around online local,” said Chris Tolles, CEO of Topix. “With media properties now able to accommodate zip-code level targeting, this research dovetails with forecasts that the market for locally focused online advertising will reach $35B by 2014.”
Topix’s “State of Local Online Advertising” survey found 75 percent of advertising professionals believe a key benefit of buying geo-targeted ads online is it gives them another tool for reaching target audiences, 60 percent noted these types of ads deliver a stronger return on investment than other buys and 50 percent said they deliver higher response rates.
Additional findings include:
- More than half of those surveyed have bought space – directly or through an ad network – on the geo-local targeted pages on Google while another 33 percent have purchased space on the online site of a local newspaper. More than 20 percent have purchased space on a hyperlocal site such as Patch, Topix or Examiner.com
“Today’s findings show that national advertisers, and their agencies, understand that local ads in a local context are more than four times more effective, and are becoming a mainstream tool to reach consumers which is great for local sites like Topix that provide neighborhood level news and information,” continued Tolles.
For its “State of Local Online Advertising” survey, Topix, and its partner Corona Insights, surveyed 60 advertising professionals, many of whom are media buyers and account staff at the country’s top agencies. Of the 60 respondents, half work at agencies with revenues of more than $500 million and nearly 30 percent work at agencies with revenues in the billions.
*About Topix*
Topix is a platform for local influence, connecting people to the information and discussions that matter to them in every U.S. town and city. A Top 10 online newspaper destination (comScore, October 2010), Topix also works with the nation’s major media companies to grow and engage their online audiences through forums, publishing platforms and RSS feeds. Based in Palo Alto, Calif., Topix LLC is a privately held company with investment from Gannett Co., Inc. (NYSE: GCI), The McClatchy Company (NYSE: MNI) and Tribune Company. For more, visit www.topix.com
HomeGain Releases 2nd Quarter 2011 Florida Home Values Survey Results
*HomeGain Releases 2nd Quarter 2011 Florida Home Values Survey Results*
Posted by: Louis Cammarosano on June 28th, 2011
*Forty-three percent of Florida real estate professionals and homeowners think home prices will decline over the next six months; 54% of Florida agents and brokers strongly disapprove of Obama’s performance as President. ***
HomeGain, the first company to provide free instant home valuations online
Earlier we released the California home values survey
Click here
The Dallas Morning News Introduces Android Application
*A H BELO : The Dallas Morning News Introduces Android Application*
DALLAS, June 28, 2011 /PRNewswire/ — The Dallas Morning News
The addition of the Android app – along with *The News’* previously released iPhone and iPad versions – drives *The News’* growing audience as it continues to expand into the emerging digital marketplace.
“Our audience is consuming more and more content on mobile devices,” publisher and chief executive officer Jim Moroney said. “Now that we’re offering an Android app, more users can access what we publish whenever they want, wherever they’re located; we offer more choices and more ways to digitally distribute our news and information.”
Key features on all of *The News’* apps include offline reading; ability to save and share articles via email and social networks; photo galleries and videos; horizontal and vertical reading; simple search and much more.
Print subscribers of *The Dallas Morning News *will enjoy full access to digital platforms, including the new Android app, for the all-inclusive price of $33.95 per month. Other readers may subscribe to specific digital devices/smartphones that best suit their needs. The comprehensive digital bundle, which includes the eEdition of *The News, *dallasnews.com, as well as iPad, iPhone and Android apps, is available for $16.95 per month.
Advertisers have the ability to reach *The News’* digital audiences through dynamic advertising approaches using media-rich technology designed to capture attention and engage users.
“We’re able to provide our advertisers access to these digital audiences by embracing mobile devices and expanding our reach into this growing market,” said John McKeon, president and general manager. “We have over a hundred and twenty-five years of experience in North Texas and a trusted reputation throughout the region. No other media provider can offer that much authority and knowledge to help their advertisers connect with Dallas-Fort Worth’s diverse audience, regardless of whether it’s print or digital.”
*About The Dallas Morning News*
Established in 1885, *The Dallas Morning News* (dallasnews.com) is Texas’ leading newspaper. Its portfolio of print and online products reaches an average daily audience of more than 1.1 million. The newspaper has received nine Pulitzer Prizes since 1986, as well as numerous other industry awards recognizing the quality of its investigative and feature journalism, design and photojournalism. In 2010,*The News *received the Pulitzer Prize for an editorial series highlighting the economic disparity between the northern half and southern half of Dallas. In 2003, the paper launched the leading Spanish-language daily in North Texas, *Al Día*; the standard-setting free entertainment tabloid, *Quick*; and the nation’s first editorial blog. In 2008, the paper launched the free, home-delivered quick-read, *Briefing*. *The Dallas Morning News *is the flagship newspaper subsidiary of A. H. Belo Corporation.
*About A. H. Belo Corporation*
A. H. Belo Corporation (NYSE: AHC), headquartered in Dallas, Texas, is a distinguished newspaper publishing and local news and information company that owns and operates four daily newspapers and a diverse group of websites. A. H. Belo publishes *The Dallas Morning News*, Texas’ leading newspaper and winner of nine Pulitzer Prizes; *The Providence Journal*, the oldest continuously-published daily newspaper in the U.S. and winner of four Pulitzer Prizes; *The Press-Enterprise* (Riverside, CA), serving the Inland Southern California region and winner of one Pulitzer Prize; and the *Denton Record-Chronicle*. The Company publishes various niche publications targeting specific audiences, and its partnerships and/or investments include the Yahoo! Newspaper Consortium and Classified Ventures, owner of cars.com. A. H. Belo also owns and operates commercial printing, distribution and direct mail service businesses. Additional information is available at www.ahbelo.com or by contacting David A. Gross, vice president/Investor Relations and Strategic Analysis, at 214-977-4810.
*Statements in this communication concerning A. H. Belo Corporation’s (the “Company’s”) business outlook or future economic performance, anticipated profitability, revenues, expenses, dividends, capital expenditures, investments, impairments, pension plan contributions, real estate sales, future financings, and other financial and non-financial items that are not historical facts, are “forward-looking statements” as the term is defined under applicable federal securities laws. Forward-looking statements are subject to risks, uncertainties and other factors that could cause actual results to differ materially from those statements.*
*Such risks, uncertainties and factors include, but are not limited to, changes in capital market conditions and prospects, and other factors such as changes in advertising demand and newsprint prices; newspaper circulation trends and other circulation matters, including changes in readership methods, patterns and demography, and audits and related actions by the Audit Bureau of Circulations; challenges implementing increased subscription pricing and new pricing structures; challenges in achieving expense reduction goals, and on schedule, and the resulting potential effects on operations; technological changes; development of Internet commerce; industry cycles; changes in pricing or other actions by existing and new competitors and suppliers; labor relations; regulatory, tax and legal changes; adoption of new accounting standards or changes in existing accounting standards by the Financial Accounting Standards Board or other accounting standard-setting bodies or authorities; the effects of Company acquisitions, dispositions, co-owned ventures, and investments; pension plan matters; general economic conditions and changes in interest rates; significant armed conflict; and other factors beyond our control, as well as other risks described in the* *Company’s Annual Report on Form 10-K for the year ended December 31, 2010, and other public disclosures and filings with the Securities and Exchange Commission.*
SOURCE The Dallas Morning News
MMA Publishes “Brand Marketer’s Guide to the Mobile Web and Mobile Apps”
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*MMA PUBLISHES “BRAND MARKETER’S GUIDE *
*TO THE MOBILE WEB AND MOBILE APPS” *
*New White Paper Provides Marketers with Strategies for Developing, Measuring *
*and Monetizing Campaigns Featuring Mobile Apps and the Mobile Web *
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*New York, London, Singapore & São Paulo: June 28, 2011* – The MMA
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“Getting Started — A Brand Marketer’s Guide to the Mobile Web and Mobile Apps” shows marketers how they can combine mobile apps and the mobile Web to create campaigns that are more effective and have greater reach than if they used only one of the channels. Today, more than 34 percent of U.S. mobile phone owners use mobile apps, and more than 36 percent use mobile browsers.* ***
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The 14-page white paper covers topics such as:****
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**· **The three main app types: branded, media-related and mobile shopping/commerce.****
**· **The four main types of mobile websites: branded micro and landing pages, corporate, media and commerce.****
**· **A comparison between apps and the mobile Web in terms of audience overlap, strengths, challenges, features, demographic considerations and user experience.****
**· **Tips for building consumer awareness of mobile apps and mobile Web offerings.****
**· **Analytic tools for measuring a campaign’s impact and reach.*** *
**· **Monetization opportunities and considerations, including freemium, paid and ad-supported models.****
**· **Best practices for protecting and enhancing the consumer experience.****
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The author of “Getting Started — A Brand Marketer’s Guide to the Mobile Web and Mobile Apps” is Kathryn Koegel, a media and marketing consultant whose experience spans online, print, TV and mobile. A regular contributor to *Ad Age*, Koegel has held executive positions at Phase2Media and DoubleClick, and her consultancy, Primary Impact, works with clients such as The Weather Channel, Placecast Mobile, FreeWheel TV, Audience Science, The Coalition for Innovative Media Measurement, Collective Media and the National Newspaper Network. ****
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“As the rise of the mobile Web grows and the development and usage of mobile apps continues unabated, we want to give the brand marketer a framework for debate and discussions,” said Michael Becker, MMA Managing Director, North America. “As the title indicates, savvy marketers understand that the mobile Web and mobile apps aren’t an either-or choice.”****
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*About the Mobile Marketing Association (MMA)*
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The Mobile Marketing Association http://www.mmaglobal.com (MMA) is the premier global non-profit trade association representing all players in the mobile marketing value chain. With more than 700 member companies, the MMA is an action-oriented organization with global focus, regional actions and local relevance. The MMA’s primary focus is to establish mobile as an indispensable part of the marketing mix. The MMA works to promote, educate measure, guide and protect the mobile marketing industry worldwide. The MMA’s global headquarters are located in the United States and it has regional chapters including North America (NA), Europe, Middle East and Africa (EMEA), Latin America (LATAM and Asia Pacific (APAC) branches. For more information, please visit www.mmaglobal.com. ****
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News Digital Media combines local and commerce offerings
News Digital Media Combines Local and Commerce Offerings
*Appoints an Executive Director – Local and Commerce *
*Brings TrueLocal and Getprice under one management*
News Digital Media’s executive director of emerging businesses, Michael Solomon, today announced a number of changes to the division’s structure and management team. Mr Solomon announced that –
- In addition to his role as Getprice chief executive Chris Hitchen takes on the role of executive director – local and commerce, with responsibility for the strategic direction of Getprice, Truelocal.com.au and News Digital Media’s direction in the broader local and commerce space. Mr Hitchen will continue to report to Mr Solomon. – TrueLocal will become part of News Digital Media’s emerging businesses division. – Getprice general manager, Matt Rigney, will assume day to day operational responsibility of Getprice.
The changes follow today’s announcement that the current chief executive officer of online business directory TrueLocal, John Allan, will be taking up a new role as chief operating officer of The Australian from July 18.
Mr Solomon said that the changes signified the start of an aggressive gear change in News Digital Media’s e-commerce aspirations.
“The local and online commerce markets are growing at an exponential rate and News is well positioned to become a major player. The promotion of Chris, one of Australia’s best digital executives, will give our division a new level of expertise and strategic thinking.
“Chris and his team have done an outstanding job building Getprice into Australia’s largest comparison shopping website. Their proven ability to grow significant transactional revenues will prove invaluable as TrueLocal embarks on the next phase of its growth.”
Mr Hitchen paid tribute to Mr Allan, and said that he was looking forward to working with the TrueLocal team. “John Allan has done a terrific job over the past three and a half years, turning TrueLocal into Australia’s premier consumer review website for small and medium businesses.
“Over three million unique browsers visit the site each month, attracted by the 111,000 richcontent business listings and 116,000 consumer ratings and reviews, and its new iPhone app has recorded nearly 100,000 downloads in the past 12 weeks.
“I’m excited by the prospect of building on the work of John and look forward to leading the great team at TrueLocal. “We’re in a new retail environment, where the lines between offline and online commerce are converging through mobile and local experiences.
There are clear synergies between Getprice’s existing business of generating sales for online and multi-channel retailers, and TrueLocal’s relationship with Australian businesses seeking to connect with local customers. We will look to capitalise on these synergies, whilst continuing to grow both businesses in their own right.”
Chris Hitchen, Jared Oken and Niv Schwarzman co-founded Getprice in 2005. In 2007 they secured investment from News Limited, which went on to acquire the remainder of the business in 2010.
Prior to Getprice, Mr Hitchen worked for Lycos Europe (part of the Bertelsmann media group) in Munich, Germany where he was responsible for the expansion of their e-commerce business Pangora into the UK.
Mr Hitchen is involved in a number of digital businesses as an investor and director, including Hiro Media, Mogeneration, Compare Broadband, Compare Courses, Pollenizer Ventures and Startmate. He was also a shareholder in Spreets until its sale to Yahoo!7.
Mr Hitchen is a member of the Australian Institute of Directors. For more information contact:
Vida Redoblado Phone | 612 8114 7325 or Mobile | 0401 435 309 Email | vida.redoblado@newsdigitalmedia.com.au
BeKnown™ a professional networking app launched by Monster and CareerOne
*Monster and CareerOne.com.au Launch Professional Networking App for Facebook with Introduction of BeKnown™ *
Monster Worldwide including CareerOne.com.au has launched BeKnown™, a professional networking app designed to enable Facebook users to BeKnown is available free for download at http://apps.facebook.com/beknown to all Facebook users in 19 languages across 35 countries including Australia. Users can identify and connect with contacts from multiple sources including Facebook, Linked In, Gmail and Yahoo to enhance their professional profile and discover new career opportunities.
“BeKnown allows people to build their professional networks on Facebook and then keep those workrelated contacts and updates separate from their personal profile,” said Michael Harvey, CEO of CareerOne.com.au.
“More than 600 million people use Facebook globally including an estimated 10 million plus users in Australia and BeKnown allows them to do everything they want to on one platform,” he said.
“Companies are also making use of Facebook in increasing numbers to reach consumer audiences and now BeKnown allows them to connect with potential employees as well,” said Mr Harvey.
*Benefits for Job Hunters*
“BeKnown means a job hunter can create and maintain their professional network without ever leaving Facebook,” said Mr Harvey.
“To make BeKnown as easy as possible to populate, Australian users can pull in details from their CareerOne and Linked In profiles as well as select contacts from Linked In and Facebook and other social networks to connect with,” he said.
BeKnown users can:
- Connect to CareerOne’s job search tools from within the BeKnown app. – Easily invite contacts from other social networks to expand their BeKnown network. No need to send one invite at a time. – See who among their professional contacts on BeKnown is connected to a company or job opportunity they are interested in. – Update their social profile on Facebook without impacting their BeKnown page. BeKnown is a totally separate profile on the Facebook platform. – Employers/Recruiters
“The greatest advantage for employers and recruiters is that their CareerOne.com.au jobs will be searchable from BeKnown increasing their reach to a wider audience of relevant active and passive job hunters,” Mr Havey said.
“BeKnown offers a vast source of potential global and local talent amongst Facebook’s extensive user group representing diverse ages, income levels, backgrounds and employment sectors including trade skills and professions.”
Mr Harvey said additional features for employers and recruiters are currently in development including the ability to create and post company profiles for free.
Employers will then be able to post jobs to their profiles enabling BeKnown users to view, apply or recommend those jobs to their own networks. BeKnown is the latest innovation developed by Monster and made available in Australia by CareerOne.com.au
“BeKnown is another extension of our commitment to meet the evolving needs of job hunters and employers by adding professional networking to online recruitment, job search and career management,” Mr Harvey.
Other features already available in Australia include mobile apps for job hunters and a job posting service for employers and recruiters that increases reach to 90 per cent of Internet users called the CareerOne Ad Network
Sally Seeto on 9288 7586 Phone | 612 9288 7586 Email | sally.seeto@news.com.au
About.com Celebrates 15th Anniversary as a Leading Provider of High Quality Content
About.com Celebrates 15th Anniversary as a Leading Provider of High Quality Content
*Leading Independent Experts Assist Consumers to Solve Life’s Everyday Needs and Questions*
NEW YORK, Jun 27, 2011 (BUSINESS WIRE) — About.com (http://www.about.com) today celebrates its 15th anniversary of providing users with a platform where independent subject matter Guides offer solutions to the needs of everyday life on nearly 900 popular topics.
These topics, which**range from Health to Autos, Food & Drink to Jobs & Careers, Style to Parenting & Family, and more, are written by highly-qualified experts, including board qualified doctors, automotive journalists, financial planners, licensed dieticians, and award-winning chefs.
“About.com has served as a vital platform for content that has helped consumers solve needs and accomplish goals by offering valuable information and answers from trustworthy, passionate and accomplished experts,” said Martin Nisenholtz, senior vice president, digital operations, The New York Times Company*.*
Additionally, About.com has become a preeminent platform for display advertisers who want to target audiences with their goods and services while they are in search of specific information.
“About.com has always offered brands a way to connect with users at a time when they are seeking solutions and answers across all lifestyle touchpoints and categories,” added Mitchell Kreuch, senior vice president of sales, About.com.
In May 2011, About.com’s Guide sites received nearly 36 million unique visitors in the U.S.i, growing traffic almost forty percent since being acquired by The New York Times Company in 2005ii. In addition, almost seventy percent of About.com’s users conduct research online before making any major purchase.iii In fact, as a result of seeing an advertisement on About.com, 44 percent of users visited the advertiser’s Web site and 40 percent purchased a new productiv. Most interestingly, About.com users have spent a combined $718 billion dollars on consumer packaged goods in the past year.v
Over the past fifteen years, the number of Guides offering content on About.com has doubled. In addition, About.com recently launched a Spanish language channel,**About en Español
In addition, About.com marks its anniversary by looking back at the 15 most popular categories among users. These include:**Health, Education, Food & Drink, Computing & Technology, Travel, Home & Garden, Business & Finance, Entertainment, Style, Parenting & Family, Hobbies & Games, New & Issues, Cities & Towns, Electronics & Gadgets, and Religion. Many of these categories have consistently ranked in the top 15 categories over time.
To commemorate the milestone, About.com has also put out a call to action to users to post and share their memories from 15 years ago on its Facebook
Follow About Group PR on Twitter
*About The About Group*
The About Group comprises the Web sites About.com
The About Group is part of The New York Times Company (NYSE: NYT), a leading media company with 2010 revenues of $2.4 billion, includes The New York Times, the International Herald Tribune, The Boston Globe, 15 other daily newspapers and more than 50 Web sites
First Custom Audience Targeting Platform
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*ChoiceStream**® **Launches CRUNCH**℠***
*Advertising’s First Custom Audience Targeting Platform*
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*Predictive Data Keeps Brands Connected*
*to their Ideal Audience*
* *
*Cambridge, MA (June 27, 2011) *ChoiceStream http://www.choicestream.com/* ®*, an innovator in online personalized marketing solutions for major brands
** **
CRUNCH is the only targeting platform that is focused on audience targeting at the individual level, going well beyond the practice of using pre-defined, commercially available segments. CRUNCH observes the unique attributes of the consumers who respond to the campaign to create a custom audience segment best-suited for the brand message. Targeting gets smarter with each ad response; individuals enter and leave CRUNCH’s custom audience segment as their intentions and interests change allowing CRUNCH to persistently optimize to the most responsive consumers.****
** **
In a variety of beta tests, CRUNCH delivered extraordinary results
** **
“The CRUNCH platform http://www.choicestream.com/what/advertise.php takes the performance of online display advertising to a new level, and bridges the gap online between brands and consumers,” says Steve Johnson
** **
CRUNCH offers a full service, end-to-end solution
** **
“With CRUNCH, we’re truly introducing something brand new to the advertising market. Unlike DSPs, we have our own proprietary data that is highly predictive of how consumers will respond to brand advertisements,” adds Eric Bosco http://www.choicestream.com/who/leadership.php#4, COO, ChoiceStream and architect of CRUNCH. “We also provide detailed audience analysis – what types of people saw and responded to the campaign – at the end of each campaign as part of our service. No other company provides the full-service audience targeting and back end reporting that CRUNCH does.” ****
** **
“When you have great data like ChoiceStream your ability to deliver an effective brand message goes up,” says Colin W. Gillis, Director of Research and Senior Technology Analyst at BGC Financial, L.P. “Also, I like that the best data is kept proprietary.” ****
** **
CRUNCH works closely with its clients to improve their return on ad spend by optimizing campaign performance
****
*ChoiceStream, Inc.* (www.choicestream.com) is an innovator in online advertising and personalized marketing solutions. For more than ten years, companies like AT&T, Zappos, Tesco, Ticketmaster and MTV have relied on ChoiceStream to create a more engaging, personally relevant experience for their consumers. By transforming shopping behavior and media consumption into intelligence about a consumer’s unique preferences, ChoiceStream is able to help today’s biggest brands target their most qualified prospects with the right advertisement, email promotion and product recommendations to improve brand engagement, conversion rates and customer loyalty.****
June New-Vehicle Retail Sales Improve from May
**
*J.D. Power and Associates Reports:*
*June New-Vehicle Retail Sales Improve from the Weakness in May*
* *
*****WESTLAKE VILLAGE****, Calif.****: 24 June 2011 *— New-vehicle retail sales rebounded in the first half of June, as consumers, despite mixed economic signals, returned to dealerships, according to J.D. Power and Associates, which gathers real-time transaction data from more than 8,900 retail franchisees throughout the United States.****
** **
*Retail Light-Vehicle Sales*
June new-vehicle retail sales are projected to come in at 884,800 units, which represents a seasonally adjusted annualized rate (**SAAR**) of 9.9 million units. The retail selling rate is showing marked improvement from May’s 9.3-million-unit level. Large pickup and compact car sales are supporting the overall retail sales increase. Large pickups are accounting for 10.6 percent of retail sales month-to-date—the highest level since February—while compact cars comprise 17.6 percent of retail sales, up from 17.2 percent in May. Retail transactions are the most accurate measurement of true underlying consumer demand for new vehicles.****
** **
“There has been some easing of negative variables in June, as the inventory shortage has not been as severe as expected, and gas prices have dropped noticeably from higher levels in April and May,” said Jeff Schuster, executive director of global forecasting at J.D. Power and Associates. “Provided that the economy decides to cooperate, the automotive summer slowdown will only be a speed bump, and a return of a measurable recovery pace is still expected in the second half of 2011.”
**
* **Total Light-Vehicle Sales*
Total light-vehicle sales in June are expected to come in at 1,106,400 units, which is 8 percent higher than in June 2010. Fleet sales are expected to be lower in June due to the inventory shortages and are projected to finish the month at 221,600 units, down 9 percent from June 2010.****
** * *
*Sales Outlook *
Even as some of the pressure has lessened, the level of uncertainty remains high. J.D. Power has slightly reduced its forecast for 2011 retail sales to 10.5 million units from 10.6 million units. The forecast for total sales has been revised to 12.9 million units from 13 million units.****
** **
“Conditions for light-vehicle sales are improving, but the automotive market remains fluid and susceptible to a slower economic recovery or external shock,” said John Humphrey, senior vice president of automotive operations at J.D. Power and Associates. “This risk is driving a more cautious approach to the market outlook for the remainder of 2011 and into 2012.”****
** **
*North American Production*
Through May, light-vehicle production for **North America** on a year-to-date basis is up 10 percent from the same period in 2010. Volume for the first five months of 2011 came in at 5.3 million units, compared with 4.8 million units built during the same period in 2010. Production for Japanese manufacturers has declined nearly 13 percent thus far this year, as parts shortages have caused volume disruptions. ****
** **
However, the recovery pace has been accelerated and most operations are expected to return to pre-disaster levels in the coming weeks. In addition to the recovery of volume with the Japanese brands, production has been ratcheted up among the Detroit Three and European and Korean brands. The Detroit Three are up 18 percent year-to-date, compared with 2010. The European manufacturers are up 44 percent, and the Korean manufacturers are up 56 percent for the same period.****
****
Inventory levels declined to 49 days’ supply at the beginning of June, five days less than the previous month’s 54 days’ supply. This drop was not as severe as expected, but is consistent with the decline in the selling pace in May. Inventory conditions should improve in the coming months, but many smaller size models and some Japanese imported models will remain in very short supply for the near future. ****
** **
Given the positive news of a faster stabilization with the Japanese manufacturers and higher-than-expected increases by the Detroit Three, J.D. Power’s North American production forecast for 2011 is again back to the 12.9-million-unit level. ****
** **
*About J.D. Power and Associates*
Headquartered in ****Westlake Village**, **Calif.****, J.D. Power and Associates is a global marketing information services company providing forecasting, performance improvement, social media and customer satisfaction insights and solutions. The company’s quality and satisfaction measurements are based on responses from millions of consumers annually. For more information on car reviews and ratings http://www.jdpower.com/autos, car insurance http://www.jdpower.com/insurance, health insurance
** **
*About The McGraw-Hill Companies*
Founded in 1888, The McGraw-Hill Companies is a leading global financial information and education company that helps professionals and students succeed in the Knowledge Economy. With leading brands including Standard & Poor’s, McGraw-Hill Education, Platts energy information services and J.D. Power and Associates, the Corporation has approximately 21,000 employees with more than 280 offices in 40 countries. Sales in 2010 were $6.2 billion. Additional information is available at http://www.mcgraw-hill.com.
Postmedia Community Publishing Sees Ten-Fold Revenue Jump With New AdPerfect-Powered Classified Site
*Postmedia Community Publishing Sees Ten-Fold Revenue Jump With New AdPerfect-Powered Classified Site*
AdPerfect, a web-based software solutions provider to media publishers, launches Postmedia Network’s http://www.postmedia.com/ Community Publishing group on its industry-leading classified platform to offer *Your Community Marketplace*.
Serving the Lower Mainland and Fraser Valley regions of B.C., Postmedia Community Publishing
Since putting the site live “we’ve seen a ten-fold increase in revenue,” says Mike Rutigliano vice president advertising sales and digital media at Postmedia Community Publishing.
“Community newspapers need to invest in online and world-class technology. We need to give consumers what they want when they want it, and AdPerfect’s self-serve is a big part of it,” Rutigliano explains.
Fully powered by AdPerfect, *Your Community Marketplace*
With the ability to syndicate classified content to additional online verticals or vendors and social media channels like Facebook
“As community papers, we are all about hyper-local. From a community perspective newspapers have a good opportunity in online classifieds, and can take advantage of the fact that they are trusted,” Rutigliano explains.
AdPerfect offers its self-serve classified platform as a performance-based free model
AdPerfect also powers all Postmedia Network daily newspaper self-serve sites, including*Vancouver Sun/Province*
“Working with Postmedia Network and its properties over the past five years has proven to be a great partnership. We continue to innovate providing reliable technology that supports their advertising initiatives. Powering *Your Community Marketplace* is just one example of how AdPerfect supports Postmedia Network’s overall classified strategy,” explains Steve Kump president & chief technology officer at AdPerfect.
When asked why he continues to choose AdPerfect as their classified solutions provider Rutigliano said, “Its not a traditional vendor relationship. When we are successful then AdPerfect is successful.”
Mobile Recruiting App Lets You Create Jobs That Talk
*Mobile Recruiting App Lets You Create Jobs That Talk*
TRUMBULL, Conn., June 22, 2011 /PRNewswire/ — The app revolution has finally hit the world of online recruiting. JobSpeek is a new application that re-imagines the traditional job listing and brings mobile recruiting to anyone with an iPhone, iPod Touch or iPad2. Employers, recruiters and small business owners can post a job from their device, add audio and pictures to it, then distribute it to the major job search engines for free.
JobSpeek’s inventor is Chris Russell, a veteran of the online recruiting space and widely considered by many in the industry to be the “mad scientist of online recruiting.” He wanted to create a new kind of job listing, one that uses the features of the device itself to make a better job description. “Recruiters can now create a compelling job ad that differentiates their company and syndicates the job in one click,” he says proudly.
The app also syncs with social media accounts on sites such as Twitter, Facebook and LinkedIn. As more employers begin to adopt social media in their recruiting strategy, JobSpeek makes it easy to spread the word that “we are hiring.”
Features of the app include:
- ability to record 60-second audio “hiring message” to describe the job – upload a picture of your business or office environment – free distribution to 10+ million job seekers through sites such as SimplyHired – ability to manage/edit/add listings quickly and easily – social media integration
How It Works
Enter a few basic details, add a picture and record your audio message. Each time you post a job through the JobSpeek app, it gets posted immediately to our website at http://jobspeek.com
JobSpeek is available for free in the iTunes app store today. Download it here: http://tinyurl.com/jobspeek2
Go to http://jobspeek.com
Contact:
Chris Russell 800-399-6651
This press release was issued through eReleases(R). For more information, visit eReleases Press Release Distribution
Postmedia Community Publishing Sees Ten-Fold Revenue Jump With New AdPerfect-Powered Classified Site
Postmedia Community Publishing sees revenue quickly increase upon launching AdPerfect’s Classified Marketplace Solutions across all twelve community newspapers.
New Westminster, B.C. (June 22, 2011) – AdPerfect, a web-based software solutions provider to media publishers, launches Postmedia Network’s Community Publishing group on its industry-leading classified platform to offer Your Community Marketplace.
Serving the Lower Mainland and Fraser Valley regions of B.C., Postmedia Community Publishing, comprised of 12 community newspapers including the Vancouver Courier, Burnaby Now, and Chilliwack Times, is now providing their local communities a trusted classified site.
Since putting the site live “we’ve seen a ten-fold increase in revenue,” says Mike Rutigliano vice president advertising sales and digital media at Postmedia Community Publishing.
“Community newspapers need to invest in online and world-class technology. We need to give consumers what they want when they want it, and AdPerfect’s self-serve is a big part of it,” Rutigliano explains.
Fully powered by AdPerfect, Your Community Marketplace offers an online self-serve order entry, available 24/7, for advertisers of any type to create their own print and/or online ads. The site also offers an online marketplace that displays advertisements and announcements.
With the ability to syndicate classified content to additional online verticals or vendors and social media channels like Facebook, AdPerfect’s solution generates additional revenue for publications like Postmedia’s newspapers while streamlining internal processes.
“As community papers, we are all about hyper-local. From a community perspective newspapers have a good opportunity in online classifieds, and can take advantage of the fact that they are trusted,” Rutigliano explains.
AdPerfect offers its self-serve classified platform as a performance-based free model, giving publishers, particularly smaller communities like those belonging to Postmedia Community Publishing, the opportunity to change their classified strategy to digital- first with a comprehensive solution and without having to incur expensive setup fees. “AdPerfect’s free model is great, it’s helpful in achieving our goals,” Rutigliano notes.
AdPerfect also powers all Postmedia Network daily newspaper self-serve sites, including Vancouver Sun/Province and Toronto’s National Post.
“Working with Postmedia Network and its properties over the past five years has proven to be a great partnership. We continue to innovate providing reliable technology that supports their advertising initiatives. Powering Your Community Marketplace is just one example of how AdPerfect supports Postmedia Network’s overall classified strategy,” explains Steve Kump president & chief technology officer at AdPerfect.
When asked why he continues to choose AdPerfect as their classified solutions provider Rutigliano said, “Its not a traditional vendor relationship. When we are successful then AdPerfect is successful.”
About AdPerfect: AdPerfect offers comprehensive yet configurable local & classified advertising solutions designed to achieve maximum revenue for media publishers. AdPerfect’s web-based applications reduce costs, simplify workflows, and increase ROI. The suite of AdPerfect solutions include: Classified Marketplace Solutions, Integrated Media Solutions, and Online Advertising Solutions.
AdPerfect’s solutions are used by over 450 media publishers across North America, the UK, and Australia. Some customers include: The McClatchy Company, New York Times Regional Media Group, Metro Group, Postmedia Network, Boston.com, Cars.com, AutoTrader UK, and Metroland Media Group.
AdPerfect Contact: Christine Hamann 1.866.475.0555 marketing@adperfect.com www.adperfect.com
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Mixpo Launches First Dynamic Video Advertising Solution for Tablets
Mixpo Launches First Dynamic Video Advertising Solution for Tablets New Offering Enables Easy Creation and Management of In-Banner Video Ad Campaigns That Work Seamlessly Across Flash and HTML5
SEATTLE, June 22, 2011 — /PRNewswire/ — Mixpo, a dynamic video advertising provider, today announced the first solution that extends in-banner, dynamic video ads beyond the Web to tablet devices. With these new capabilities, brand advertisers can deploy dynamic video campaigns spanning in-app and in-browser display inventory, and leverage the simplicity, speed and flexibility of Mixpo’s platform to capitalize on the growing audiences using tablets. Publishers creating tablet content experiences can now enrich their advertising offerings as well.
With Mixpo’s Web-based studio, publishers can capitalize on their ample display inventory on the Web and now through tablets to build dynamic display ads in one powerful environment using any video assets provided by their advertising clients. They also have the flexibility to add interactive elements and tailor these ads based on geography, time of day or message sequencing. Mixpo’s new technology automatically determines the consumer’s device and deploys the appropriate ad, whether a FLASH or HTML5 version. For tablet in-app campaigns, Mixpo offers full-screen, immersive, dynamic video ads. Mixpo will also segment ad performance by platform, providing advertisers with new insights on ad consumption and engagement. Mixpo’s solution helps publishers not only offer better brand advertising solutions, but also improve their display monetization.
“Previously, ad creation tools for HTML5 have been rudimentary or prohibitively expensive and time-consuming, limiting brand advertisers’ ability to deploy cross-platform campaigns and wasting valuable ad dollars,” said Anupam Gupta, President & CEO of Mixpo. “By leveraging dynamic video ads supported by our latest technology, advertisers and publishers can create compelling experiences for consumers that extend from the Web to tablets, increasing impact and driving higher return on investment.”
The tablet market continues to expand, and Gartner forecasts that approximately 300 million tablets will be sold by 2015. With Mixpo’s new offering, advertisers can reach this growing number of consumers effectively with unified video display campaigns.
“With Mixpo now offering us a cross-platform solution, we are able to expand the reach for our advertisers that use these dynamic video campaigns and create richer ad experiences within our mobile and tablet offerings,” said David Karabag, Director of Product Management for Belo Interactive Group. “Leveraging Mixpo’s platform gives us the advantage of providing our advertisers with a seamless process to run compelling and unified campaigns across all screens where audiences view our content.”
*About Mixpo*
Mixpo provides publishers and advertisers with Dynamic Video Advertising (DVA), an industry-leading solution that transforms online display into high-impact, interactive video ads across multiple Internet-enabled devices. DVA delivers content to the right audience at the right time, and it surpasses rich media with an enhanced display ad platform in terms of simplicity, flexibility, cost and time to market. With hundreds of DVA campaigns running simultaneously across the U.S., Mixpo’s powerful, user-friendly platform makes in-banner video advertising simple from start to finish. Mixpo is headquartered in Seattle. For more information about the company, visit www.mixpo.com.
Dealer.com Wins Two Stevie Awards
Dealer.com Wins Two Stevie AwardsDigital Automotive Leader Recognized By American Business Association as “Best Company of the Year” and “Fastest Growing Company of the Year
*June 21, 2011* (Burlington, VT) – Dealer.com, the global leader in online marketing solutions for the automotive industry, was recognized by the American Business Association with two Stevie Awards at the organization’s annual awards dinner yesterday evening. Dealer.com took home two awards out of four nominations, including the highly regarded “Best Overall Company of the Year – Up to 2,500 Employees – Advertising, Business Services, Marketing & Public Relations” and “Fastest Growing Company of the Year – Up to 2,500 – All Other Industries” for 2011.
“We are excited to receive two Stevie Awards from the American Business Association. Being listed as a winner among such highly regarded companies is a true honor,” said CEO of Dealer.com Mark Bonfigli, who attended the American Business Association awards reception and accepted on behalf of his company. “Without question, these two Stevie Awards are a reflection of the Dealer.com team who, without their support, dedication and enthusiasm for the company and their work, this recognition would not have been possible.”
In true Dealer.com fashion, Bonfigli asked the Stevie Awards audience to give a lively cheer at his acceptance, and soon had the audience at their feet. “We wanted everyone to see the lighter side of Dealer.com,” Bonfigli said.
About.com’s East Coast Region Sales Manager, Trish Conheeney Wins min’s 2011 ‘Sales Executive of the Year’ Award
* * *About.com’s East Coast Region Sales Manager, Trish Conheeney Wins min’s 2011 ‘Sales Executive of the Year’ Award*
NEW YORK, Jun 22, 2011 (BUSINESS WIRE) — About.com announced today that Trish Conheeney, East Coast Region Sales Manager, received min’s 2011 ‘Sales Executive of the Year’ award in the Sales Team Leader, Web & Mobile category. Started in 2005, these awards recognize sales leaders in consumer and business-to-business media who have an excellent reputation in driving revenue and relationships and have earned the respect of the advertising community.
Ms. Conheeney has been instrumental in educating agencies and brands about the digital arena, including launching P&G’s first digital upfront with About.com as well as expanding the business across many of P&G’s Home Care, Baby Care, Pet Care and Beauty Products.
“It is a tremendous accomplishment to be recognized by min’s Sales Executive of the Year awards,” said Mitchell Kreuch, SVP Sales, the About Group. “Trish continues to be a valuable sales team leader for About.com and a terrific advocate for our clients.”
Ms. Conheeney has been in the online advertising and media business for over 10 years, where she worked at Primedia Business across multiple business-to-business magazine sites, such as *Chief Marketer, PROMO* and * Direct*. Ms. Conheeney previously worked at iVillage before joining About.com in 2008.
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*About The About Group*
The About Group comprises the Web sites About.com
The About Group is part of The New York Times Company (NYSE: NYT), a leading media company with 2010 revenues of $2.4 billion, includes The New York Times, the International Herald Tribune, The Boston Globe, 15 other daily newspapers and more than 50 Web sites
SOURCE: The New York Times Company
DG To Acquire MediaMind Creating Premier Global Online and Television Advertising Technology Provider
*DG TO ACQUIRE MEDIAMIND CREATING PREMIER GLOBAL ONLINE AND TELEVISION ADVERTISING TECHNOLOGY PROVIDER*
*Combines Leading Distributor of High Value Broadcast Content with Best-in-Class Online Advertising Technology *
*Company Acquires a Unique Asset in Fast-Growing $71 Billion Global Online Advertising Market *
*DG to Commence Tender Offer at $22 per MediaMind Share in Cash *
*Companies to Hold Webcast/Conference Call at 8:30 AM ET Today*
_______________________________________________________________________
*Dallas and New York, June 16, 2011* – DG® (NASDAQ: DGIT), a leading provider of digital media services to the advertising, entertainment and broadcast industries, and MediaMind Technologies Inc. (NASDAQ: MDMD), a leading global provider of integrated digital advertising solutions, today announced a definitive agreement under which DG will acquire MediaMind in an all-cash transaction. The acquisition creates one of the premier global online and television advertising technology companies.
MediaMind is a unique asset, with tremendous people, products and services in the fast-growing $71 billion global online advertising market[1]
Under the terms of the transaction, which has been approved by the boards of directors of both companies, DG will commence a tender offer to purchase all of MediaMind’s outstanding shares for $22.00 per share in cash. The total transaction value is $517 million equity value or $414 million enterprise value, taking into account over $100 million in cash on MediaMind’s balance sheet. The board of directors of MediaMind will recommend that MediaMind shareholders tender their shares in the tender offer. The transaction is expected to be accretive to DG’s non-GAAP EPS in 2012.
Upon closing, Gal Trifon, President and CEO of MediaMind, will serve as DG’s Chief Digital Officer, leading DG’s online advertising business. Additionally, Ofer Zadikario, MediaMind’s Chief Solutions Officer, will join DG in the same position.
“This is a game-changing transaction that provides DG with an unmatched global footprint, broad customer reach and an innovative platform in television and the fast-growing online advertising market,” said Scott Ginsburg, Chairman and CEO of DG. “MediaMind’s online business excels in rich media and fits well with our unparalleled distribution platform for high value broadcast content – enabling advertisers to most effectively connect with audiences globally. With its new global reach and enhanced product offerings, DG will gain critical mass and will have the unique ability to provide a suite of cross-platform advertising management and distribution services.”
Mr. Trifon said, “We believe this transaction offers significant value for our shareholders and is the natural, next step for MediaMind. DG will provide us with the added scale and resources to continue to grow our platform and enhance the services we provide our customers. Working together with DG, we will provide a single solution for advertising creation, distribution, and monitoring for cross-platform campaigns. We are excited to partner with DG to continue to increase our base of large advertisers and expand our global operations, and we are confident that our employees will benefit from the greater opportunities at the combined company.”
Neil Nguyen, President and COO of DG said, “We are extremely pleased about this transaction, which greatly accelerates our international and digital growth strategy. With this acquisition, we will build on MediaMind’s global operational footprint and world class technology platform to expand our reach beyond North America. The combined companies will serve a global customer base and enable DG to penetrate such markets as Latin America, Asia and EMEA. Moreover, with our combined advertiser and publisher reach, we will be well positioned to gain additional market share and innovate cross platform solutions in order to drive long-term growth. We welcome Gal, Ofer and their team to DG and look forward to working together to realize the significant potential of our combined organizations.”
For the twelve months ending March 31, 2011 the companies had in excess of $100 million in digital advertising revenue on a pro forma basis. With the MediaMind acquisition, DG expects to realize approximately $15 million in cost synergies identified to date, with clear opportunities for enhanced revenue growth. The transaction will be funded by a combination of available cash and fully committed debt financing from JPMorgan Chase & Co. and Bank of America Merrill Lynch. MediaMind shareholders holding approximately 8.2 million common shares outstanding and 1.8 million options, as well as certain officers and pre-IPO investors, have agreed to tender their shares in the offer.
Goldman Sachs & Co. and Bank of America Merrill Lynch acted as financial advisors and Latham & Watkins provided legal advice to DG. Qatalyst Partners acted as financial advisor and Davis, Polk & Wardwell LLP provided legal advice to MediaMind. Subject to the successful completion of the tender offer, regulatory approval and customary closing terms and conditions, the transaction is expected to close in the third quarter 2011.
*Financial Community Webcast *
On Thursday, June 16, 2011 at 8:30 a.m. ET, DG and MediaMind will host a conference call and webcast. The webcast is open to the general public and all interested parties may access the live webcast on the Internet at the Company’s websites at www.DGit.com http://www.dgit.com/or ir.mediamind.com. Please allow 15 minutes to register and download or install any necessary software. Participants should log in 15 minutes ahead of time to test your browser and register for the call. For dial in access, please dial (800) 894-5910, within the U.S., or (785) 424-1052 outside the U.S. Enter passcode 8168027. In addition, a recording of the conference will be available for replay two hours after the call’s completion for two weeks. To access the recording, please dial (888) 203-1112, within the U.S., or (719) 457-0820 outside the U.S. Enter passcode 8168027.
*About DG*
DG FastChannel®, Inc. (now known as DG) provides innovative technology-based solutions to the advertising, broadcast and publishing industries. The Company serves more than 5,000 advertisers and agencies through a media distribution network of more than 28,000 radio, television, print and Web publishing destinations throughout the United States, Canada and Europe. DG utilizes satellite and internet transmission technologies, creative and production resources, digital asset management and syndication services that enable advertisers and agencies to work faster, smarter and more competitively. Through its MIJO, Unicast, SourceEcreative, Treehouse and Springbox operating units, DG extends its benchmark of excellence to a wide roster of services ranging from custom rich media solutions and interactive marketing to direct response marketing and global creative intelligence. For more information, visit www.DGit.com http://www.dgit.com/.
*About MediaMind*
MediaMind is a leading global provider of digital advertising campaign management solutions to advertising agencies and advertisers. MediaMind provides media and creative agencies, advertisers and publishers with an integrated platform to manage campaigns across digital media channels and a variety of formats, including rich media, in-stream video, display and search. Headquartered in New York, MediaMind delivered during 2010 campaigns for approximately 9,000 brand advertisers, servicing approximately 3,800 media agencies and creative agencies across approximately 8,200 global web publishers in 64 countries throughout North America, South America, Europe, Asia Pacific, Africa and the Middle East. For more information on MediaMind, visit http://www.mediamind.com.
*Additional Information*
This press release is neither an offer to purchase nor a solicitation of an offer to sell securities. The tender offer for the outstanding shares of MediaMind common stock described in this press release has not yet commenced. At the time the planned offer is commenced an affiliate of DG will file a tender offer statement on Schedule TO with the Securities and Exchange Commission (the “SEC”) and MediaMind will file a solicitation/recommendation statement on Schedule 14D-9 with respect to the planned offer. The tender offer statement (including an offer to purchase, a related letter of transmittal and other offer documents) and the solicitation/recommendation statement will contain important information that should be read carefully before any decision is made with respect to the tender offer. Those materials will be made available to MediaMind stockholders at no expense to them. In addition, all of those materials (and all other offer documents filed with the SEC) will be available at no charge on the SEC’s Web site: www.sec.gov.
*DG Forward-Looking Statements*
This release contains forward-looking statements relating to the Company. These forward-looking statements involve risks and uncertainties, which could cause actual results to differ materially from those projected. Such risks and uncertainties include the Company’s ability to integrate recent acquisitions and other risks relating to DG’s business which are set forth in the Company’s filings with the Securities and Exchange Commission. DG assumes no obligation to publicly update or revise any forward-looking statements.
*MediaMind Forward-Looking Statements *
This press release contains statements that constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical facts are forward-looking statements. These statements include descriptions regarding the intent, belief or current expectations of MediaMind or its officers with respect to the future consolidated results of operations and financial condition of MediaMind, the continued global growth of digital advertising, MediaMind’s ability to continue to gain market share and capitalize on the anticipated global growth of digital advertising and MediaMind’s ability to execute its strategic plans, including consummation of the M&A transaction announced herein. Such forward-looking statements are not guarantees of future performance and involve known and unknown risks, uncertainties, and other factors that may cause actual results, performance or achievements to be materially different from those expressed or implied in the forward-looking statements as a result of various factors and assumptions, including factors discussed under the heading “Risk Factors” in our final prospectus related to our initial public offering filed on August 12, 2010, our Annual Report on form 10K filed on March 8, 2011 and additional reports we file with the Securities and Exchange Commission.
*Non-GAAP Reconciliation, Adjusted EBITDA, Non-GAAP Net Income Definitions*
In addition to providing financial measurements based on generally accepted accounting principles in the United States of America (GAAP), the Company has historically provided additional financial measures that are not prepared in accordance with GAAP (non-GAAP). Legislative and regulatory changes discourage the use of and emphasis on non-GAAP financial measures and require companies to explain why non-GAAP financial measures are relevant to management and investors. We believe that the inclusion of these non-GAAP financial measures in this press release helps investors to gain a meaningful understanding of our past performance and future prospects, consistent with how management measures and forecasts our performance, especially when comparing such results to previous periods or forecasts. Our management uses these non-GAAP financial measures, in addition to GAAP financial measures, as the basis for measuring our core operating performance and comparing such performance to that of prior periods and to the performance of our competitors. These measures are also used by management in its financial and operational decision-making. There are limitations associated with reliance on these non-GAAP financial measures because they are specific to our operations and financial performance, which makes comparisons with other companies’ financial results more challenging. By providing both GAAP and non-GAAP financial measures, we believe that investors are able to compare our GAAP results to those of other companies while also gaining a better understanding of our operating performance as evaluated by management.
The Company defines “non-GAAP net income” as net income before amortization of intangible assets, impairment charges and share-based compensation expense. All amounts excluded from “non GAAP net income” are reported net of the tax benefit these expenses provide.
The Company considers non-GAAP net income to be another important indicator of the overall performance of the Company because it eliminates the effects of events that are non-cash, or are not expected to recur as they are not part of our ongoing operations.
Non-GAAP net income should be considered in addition to, not as a substitute for, the Company’s operating income and net income, as well as other measures of financial performance reported in accordance with GAAP.
*Reconciliation of Non-GAAP Financial Measures*
In accordance with the requirements of Regulation G issued by the Securities and Exchange Commission, the Company is presenting the most directly comparable GAAP financial measures and reconciling the non-GAAP financial measures to the comparable GAAP measures.
