CullmanTimes.com - Cullman, Alabama

Business

April 4, 2013

News Corp. Said to Consider Sale of Its Community Newspapers

NEW YORK — News Corp. is considering the sale of its Dow Jones Local Media unit, a group of community papers such as the Cape Cod Times in Massachusetts and Oregon's Ashland Daily Tidings, a person familiar with the deliberations said.

The New York-based company has hired the investment bank Waller Capital to seek potential buyers for the papers, said the person, who asked not to be named because the plan isn't public. Nathaniel Brown, spokesman for News Corp., declined to comment, as did Ed Adler, a representative for New York-based Waller.

Rupert Murdoch, News Corp.'s founder and chief executive officer, is grooming the company's publishing division in preparation for a spinoff this year. News Corp. is splitting the business from its entertainment operations, which will be called Fox Group Inc. The company agreed to the spinoff last year, bowing to pressure from shareholders who wanted the company to focus on its more valuable television and film businesses.

The new publishing company reported a pro forma net loss of $1.89 billion in the fiscal year that ended on June 30, with sales of $9.14 billion. The loss included $2.6 billion in writedowns, mostly from reductions in the value of newspapers.

News Corp. originally attempted a sale of its community newspapers in 2008, at the height of the U.S. credit crisis, according to another person with knowledge of the matter. News Corp. couldn't attract any bidders at the time, the person said.

The community-paper division was formed after Ottaway Newspapers merged with Dow Jones in 1970. The Ottaway business was founded in 1936 when James H. Ottaway bought the Bulletin in Endicott, N.Y., according to Dow Jones's website. Its papers now include the Times Herald-Record in Middletown, N.Y.; the Pocono Record in Stroudsburg, Pa.; Nantucket Today in Massachusetts; and the Record in Stockton, Calif.

Text Only
Business
  • Facebook tests button to let people shop from its website

    Members on desktop computers or mobile devices can click a "buy" button to make purchases through advertisements or other posts on the world's largest social network, the Menlo Park, California-based company said Thursday in a blog post.

    July 18, 2014

  • WSCC HILL.jpg Hill hits the ground running at Wallace State

    Marcie Hill of Double Springs likes taking on new challenges. As an 18-year veteran of the education system, Hill has taught first grade, sixth grade and served as a reading coach to students and teachers in Kindergarten through sixth grade.

    July 16, 2014 1 Photo

  • VIDEO: A boom in firework sales

    This year could be quite the boom for fireworks sales across the U.S. According to the American Pyrotechnics Association, or the APA, sales are already off to a good start.

    July 3, 2014

  • Edward Jones Recognized as 2014 Most Valuable Employer for Military by CivilianJobs.com

    Local financial services firm Edward Jones in the Cullman-area was named a 2014 Most Valuable Employer (MVE) for Military by CivilianJobs.com, recognizing the firm's deep committment to recruiting, training and retaining military veterans as financial advisors.
     

    June 23, 2014

  • CRMC welcomes Harrison.jpg CRMC Welcomes Adam Harrison, DO to the Medical Staff

    Cullman Regional Medical Center (CRMC) is pleased to welcome Adam Harrison, DO to the Medical Staff. Dr. Harrison is originally from Cullman and graduated from Cullman High School in 2002. He obtained his bachelor of biomedical science degree from Auburn University in 2006, and attended Wallace State Community College prior to Auburn. He received his degree in osteopathic medicine in 2010 from Philadelphia College of Osteopathic Medicine Georgia Campus in Suwanee, Ga. He successfully completed an internship through Columbus Regional Medical Center in Columbus, Ga., in 2011. He will complete his residency through UAB Family Medicine in Huntsville, Ala.
     

    June 16, 2014 1 Photo

  • Deadly guardrails spearing drivers is whistleblower's crusade

    Harman is suing Trinity Highway and its Dallas-based owner, Trinity Industries Inc., alleging that it made quiet design changes that transformed guardrail systems across the U.S. into potentially deadly hazards.

    June 12, 2014

  • google-seo-search-results-screenshot.jpg Your new boss is going to Google you, so make sure she likes what she sees

    This is what a professional online reputation management "campaign" looks like: four people — one patched in via video — around a conference room table, jotting notes on laptops, carefully examining every trace of a client's digital existence and plotting a strategy to improve it.

    June 11, 2014 1 Photo

  • Merchants Bank promotes 1.jpg Merchants Bank promotes four officers

    The Board of Directors of Merchants Bank of Alabama, a community bank since 1907, recently announced the promotions of four key officers.
    Kerry Hanvey was promoted from vice president of retail banking to senior vice president of operations. Kerry joined the bank in 1992 and has served in various positions over this 22- year period. Kerry is responsible for bank wide operations for the five bank offices.
     

    June 11, 2014 4 Photos

  • Chamber's June Small Biz of Month.jpg Chamber's June Small Business of the Month winner

    The Cullman Area Chamber of Commerce recently awarded their Small Business of the Month award to Quick Tire Sales of Cullman. The award is given monthly to a local small business that meets nomination requirements. Victor Quick of Quick Tires Sales was thrilled for their business to be selected for this honor.
     

    June 11, 2014 1 Photo

  • $15 minimum wage puts Seattle in uncharted waters

    Depending on which pundit is nattering away, this means Seattle is either going to fall off the map and become a "Mad Max"-style economic wasteland or transform into an egalitarian utopia that inspires sweeping pro-labor activism nationwide.

    June 9, 2014