Markets News Oil 

Merger Talk Drives up Oil Services Providers As European Markets Cling to Gains

“European stock markets are clinging to gains on Friday as investors keep a close eye on trade talks between the U.S. and China” writes Barbara Kollmeyer for nasdaq.com. European stocks were facing a weekly loss, though optimism over global trade talks were providing some support.Merger talk for oil service providers lifted shares of Saipem and Subsea 7.European stock markets were headed for the first weekly loss in six as investors kept a close eye on trade talks between the U.S. and China and the banking sector logged losses. Source: nasdaq.com

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After merger, Gannett will be the largest newspaper publisher in the U.S.

“Under the terms of the deal, New Media Investment Group, the parent of GateHouse Media, is the company that will acquire its smaller rival, Gannett” writes This Story Was for seattletimes.com. The merger is expected to reach formal completion Tuesday, the companies said in a statement Thursday.Shareholders voted Thursday to approve a deal that would join the two largest newspaper chains in the United States, all but guaranteeing the creation of a newspaper colossus that is likely to result in thousands of layoffs. Source: seattletimes.com

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USA Today owner Gannett finalizes deal to become nation’s largest newspaper publisher

“Joining Reed, who is chairman, are former gambling executive Kevin Sheehan, marketing executive Mayur Gupta, finance executive Theodore Janulis, Gannett Chairman John Jeffry Louis, marketing executive Maria Miller, marketing consultant Debra Sandler, former footwear executive Laurence Tarica and Barbara Wall, chief legal officer at Gannett” writes Reporter Covering Economic for washingtonpost.com. Gannett has been pushing to bring in digital advertising and subscription revenue, but Arthur said both firms missed his most recent revenue targets.Gannett was last on the Fortune 500 list in 2014, and in the past two years, the…

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ProSieben says merger with Mediaset wouldn’t work

“He told the same call that Mediaset would prefer a merger but was open to other forms of tie-up.Mediaset declined further comment on Thursday” writes Midwest Communications Inc for 95kqds.com. “You can make progress much faster by focusing on driving scale in the new things that you’re doing,” said Conze, pointing to sports streaming, reaching viewers through digital channels and targeted ‘addressable’ advertising. Source: 95kqds.com

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CBS CEO will keep the top job but still get $100 million in severance

“When the merger closes, Ianniello will bring in $79 million in cash and about $20 million in equity, Bloomberg reported” writes Alyssa Meyers for businessinsider.com. The former CBS chief operating officer took over as interim CEO when Les Moonves left the company after 20 years in 2018.Ianniello won’t get the top job after the proposed merger but will get $100 million and a new contract promising tens of millions of dollars more, according to Bloomberg.Before Ianniello was CEO and COO of CBS, he spent years in several financial roles including…

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As Gannett merger nears completion, union claims deal “threatens journalism”

“The deal calls for GateHouse parent New Media Investment Group to purchase McLean-based Gannett for $12.06 in cash and stock per share” writes Reporter Covering Economic for washingtonpost.com. Fortress backs New Media Investment Group, and is slated to come away with 4.5 million shares in the new company.The union suggests in its report that private equity giants Fortress Investment Group and Apollo Global Management are getting the best of the deal.After the deal was announced, New Media’s stock fell from nearly $11, and opened Friday trading at $7.86 a share.Gannett…

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New T-Mobile Un-carrier 1.0 details “5G for Good” with new initiatives

“The FCC recently formally approved the merger between T-Mobile and Sprint, and today, the “New T-Mobile” is talking about its first Un-carrier announcement for that planned merger” writes Contributing Editor for phonedog.com. Home broadband is one area that T-Mobile wants to tackle, too, and the merger with Sprint can make that a possibility. Is this merger between T-Mobile and Sprint something you want to happen?.  Source: phonedog.com

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