Wednesday, 1 October 2014
Last updated 1 hour 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.
Sep 22 2014 | 4:15pm ET
"I tell people that everybody likes good news and so if you have good performance that’s wonderful,” explains Mike McKitish of Peddie School's endowment, “but it’s the people that want to talk about the bad news or where they drifted and how they came back and how they stayed to their discipline…” that he wants to hear from. Read more…
Sep 30 2014 | 9:29am ET
The crisp Autumnal days of October are upon us, and so are a few of the hedge fund industry’s favorite charitable events. If you have never been to Rocktoberfest, well, you are missing out. And for a quieter evening of sipping and socializing, stop by HFC’s Wine Soiree. Read more…
High frequency trading is not evil, it is not a conspiracy and it really is not new; it is the natural evolution of the professional trading community making markets, providing liquidity and hopefully...