TC Transcontinental to sell California facility to Hearst

“Montreal-based TC Transcontinental has announced the sale of its Fremont, California, building to Hearst for $75 million.

The transaction is subject to customary closing conditions and is expected to close during the fourth quarter of fiscal 2019.

TC Transcontinental anticipates using the net proceeds from this sale to reduce its debt in line with the goal of reducing its net indebtedness ratio below 2.0x by the end of fiscal year 2020, as well as to continue its transformation with targeted acquisitions, the company said.

Hearst had assumed printing operations at the plant in April 2018, the Toronto Star reported. The two companies had dissolved an outsourcing agreement that started in 2009 and had Transcontinental printing the San Francisco Chronicle for Hearst.”

Source: News&Tech, 2019 

Las Vegas Review-Journal wants to end agreement with Sun

“The Las Vegas Review-Journal filed court papers in late August aiming to end a joint operating agreement with the Las Vegas Sun, the papers reported.

The agreement has been in place since 1989, the Sun said.

“The Sun has breached its responsibilities, failing to abide by the requirement to ‘preserve high standards of newspaper quality,’ and the business arrangement has become obsolete amid the dramatic changing face of journalism,” the court papers allege, according to the Review-Journal.

In an editorial, the Sun wrote: “In order to break the JOA — while still benefiting from the lucrative antitrust exemption that the JOA provides — the Review-Journal improperly attempts to exit this relationship without the Sun’s consent by claiming that the Sun does not produce quality content.

“It is a desperate move and behind a tissue of dishonesty lies the real motive: the R-J longs to silence the Sun and be the only voice in daily newspapers in this community.”

Greenspun Media Group owns the Sun. Casino magnate Sheldon Adelson and family bought the Review-Journal in 2015.”

Source: News&Tech, 2019

APTech, Red Cross partner to host blood drive at PRINT 19

“The Association for Print Technologies (APTech) and the American Red Cross are partnering to host a blood drive at PRINT 19 (Oct. 3­–5 at McCormick Place North, Chicago). The blood drive is slated for Friday, Oct. 4, in booth 2843.

“For the past few years we’ve incorporated philanthropy into our PRINT event,” said Thayer Long, president, APTech, “and this year we couldn’t be more pleased to partner with the American Red Cross. In fact, our blood drive might truly test the proposition that print people actually bleed CMYK.”

Each pint of blood collected can help save up to three lives and impact the health and well being of countless others.

“What a great way to pay it forward and make an impact on people in our community and across the country,” said Long. “We are very excited about the drive and I know our exhibitors, sponsors, and attendees will be lining up to help out our fellow citizens.”

Those wanting to pre-register for PRINT 19 can use this link. Pre-registering will save time for people when they arrive at the event, organizers say.”

Source: News&Tech,2019 

Shaw Media buys News Tribune

“Shaw Media is buying the News Tribune (La Salle, Illinois) and the Illinois and Indiana AgriNews weekly publications from Catherine Miller and Miller Group Media.
The sale was expected to close Sept. 1. Terms were not disclosed.

The acquisition of the publications adds to Crystal Lake-based Shaw’s network of daily and weekly newspapers and specialty publications, which cover 15 counties across northern Illinois, as well as part of Iowa.

The company’s daily newspaper holdings include LaSalle County’s other five-day-a-week newspaper, The Times of Ottawa, as well as the Northwest Herald in Crystal Lake, The Herald-News in Joliet, Daily Chronicle in DeKalb, the Telegraph in Dixon and the Daily Gazette in Sterling.

“We are honored to be able to continue the legacy of the Miller family in the Illinois Valley,” Shaw President and CEO John Rung said. “The NewsTribune has established a high bar of journalistic standards, and its print and digital assets are a perfect fit for Shaw Media.”

Shaw Media has been privately owned by the Shaw family since its founding in Dixon by B.F. Shaw in 1851.”

Source: News&Tech,2019