Monday, 15 September 2014
Last updated 2 days ago
Jul 30 2010 | 12:00pm ET
Avenue Capital Group’s bid for Newsweek magazine has been imperiled by the hedge fund’s ties to the publisher of sensationalist grocery-store tabloid the National Enquirer.
The Washington Post Co., which is selling the august if highly-unprofitable news weekly, is uncomfortable with Avenue’s plans to involve American Media in the running of Newsweek. Avenue’s proposal would have AMI handle advertising and other back-office functions for Newsweek, The Wall Street Journal reports.
But the Post’s concerns were not eased by Avenue’s promise that AMI would have no ownership stake or editorial involvement in Newsweek, and that its back-office functions would be strictly laid out in a service agreement. Avenue owns a 20% stake in AMI, which also published Shape, Men’s Fitness and Star, and holds a seat on its board of directors.
Avenue had widely been seen as the front-runner for Newsweek. But the hedge fund now believes that audio-equipment mogul Sidney Harman is the favorite to buy the magazine.
Aug 25 2014 | 11:21am ET
As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…
The Federal Reserve keeps baby-stepping toward a “normalization” of monetary policy. But just what is normal?