Hearst achieved record profits for the seventh straight year, as our efforts to build and acquire great companies in the business data and software sector helped overcome a tough year for many of our consumer media franchises. Our biggest majority-owned business, Fitch Group, led the way with an outstanding performance across the world, particularly in its core bond ratings business. 2017 was another great year to be a consumer of media products but less so to be a provider of that content. While platform companies like Google, Facebook, Amazon and Netflix thrived through their dominance of advertising and ecommerce channels, many individual media brands struggled to get their share of the advertising pie and consumers bought fewer television bundles or magazine subscriptions. In magazines, led by President David Carey and Publishing Director Michael Clinton, our world class digital operation made significant gains in 2017, and some of the newer magazines we have launched over the past 10 years, namely Food Network Magazine and HGTV Magazine, are among our best editorial products and most profitable titles. Still, the magazine business needs more change. With respect to many of our titles, we need the readers to pay more for the product. And we need to find a way to make digital subscription products work for magazines in the way that they are starting to work for newspapers. Near the end of 2017 we agreed to acquire Rodale’s magazine business, with such well-established titles as Men’s Health, Women’s Health and Prevention. The addition of these titles will give our magazine business a shot in the arm and some new talent to help in our efforts to keep innovating and experimenting as we reset the business model for the future. Click Read More below for additional information.
SCA announces a price increase for all Brown and White Kraftliner grades in Europe by € 60 per ton, effective from 1st of February 2018. "The market for containerboard continues to be very strong. The demand for kraftliner of all grades is high and the supply is tight", says Mikael Frölander, Vice President Sales and Marketing Containerboard.
On August 29, 2017, the Department of Commerce (the Department) initiated a less-than-fair value (LTFV) investigation of imports of certain uncoated groundwood paper from Canada. Currently, the preliminary determination is due no later than January 16, 2018. On August 29, 2017, the Department of Commerce (the Department) initiated a less-than-fair value (LTFV) investigation of imports of certain uncoated groundwood paper from Canada. Currently, the preliminary determination is due no later than January 16, 2018. Therefore, pursuant to section 733(c)(1)(A) of the Act, we are postponing the deadline for the preliminary determination by 50 days (i.e., 190 days after the date on which the investigation was initiated). As a result, the Department will issue its preliminary determination no later than March 7, 2018. Click Read More below for additional information.
Oil in New York climbed 12 percent last year as the Organization of Petroleum Exporting Countries and its allies trimmed supply to reduce a global glut. U.S. crude output is also slipping from a record-high, with weekly production falling through Dec. 22 for the first time since mid-October. Any interruption to Iranian supply would be a significant shock to the market. “Geopolitical risks are clearly back on the crude oil agenda,” said Bjarne Schieldrop, chief commodities analyst at SEB AB in Oslo. “As of yet, there is no deep-seated concern for a disruption” in Iran, but if that were to happen “it would have a huge impact on global crude oil prices.” Click Read More below for additional information.
Albury’s Norske Skog paper mill will stop production during peak power demands to help avoid major summer blackouts. The Border business was among 14 industrial electricity users and producers who have signed contracts with the Australian Energy Market Operator to help avoid large-scale blackouts like those which hit South Australia last summer. Visy was also included but the company was unable to confirm if its Wodonga plants would be affected. Under the agreement, Norske Skog would shut down its paper machine and recycled fibre plant for a set time, likely to be between an hour and several hours, during peak demand so its electricity could be used elsewhere across the network. Click Read More below for additional information.
International Paper announced that it has completed the transfer of its North America Consumer Packaging business to Graphic Packaging. As a result of the transaction, Graphic Packaging has assumed $660 million of IP debt. IP now holds a 20.5% ownership interest in the subsidiary of Graphic Packaging that holds the assets of the combined business. The transferred business includes approximately 3,900 employees, two coated paperboard mills and three converting facilities in the U.S., along with one converting facility in the U.K.
Last year JK Rowling reclaimed the No 1 spot in the bestseller charts by returning from mundane reality to the Potterverse (with the Harry Potter and the Cursed Child playscript); and before that EL James topped the 2015 charts by revisiting the Fifty Shades world from Christian’s perspective. In 2017 it was Jamie Oliver’s turn to play the comeback champion, after managing a best position of only 40th a year ago and being described in (ahem) the 2016 bestsellers analysis piece as “apparently fading”. Mysteriously revitalised (surely there’s more to it than Channel 4 restoring him to peak-time after marooning him in the afternoon?), Oliver leads a markedly blokey top 10 dominated by recurring figures, with two David Walliams titles joined by books from Dan Brown, Lee Child, Jeff Kinney and Guinness World Records. Click Read More below for additional information.
Mr. Magazine — or Sami A. Husni, the director of the Magazine Innovation Center at the University of Mississippi, School of Journalism and a renowned magazine expert — has selected the 20 “hottest” magazine launches of 2017. In February, the annual list will be whittled down to one — and that magazine will win “The Launch of the Year” at the American Magazine Media Conference hosted by MPA: The Association of Magazine Media. Between October 2016 and December 2017, Mr. Magazine counts 201 new magazine brands that launched with a regular publishing frequency. Click Read More below for additional information.