National Average Price for Regular Unleaded – Current: $2.534; Month Ago: $2.295; Year Ago: $2.532. National Average Price for Diesel – Current: $3.014; Month Ago: $2.920; Year Ago: $2.930.
Investors continue to play it safe when it comes to a rise in oil prices, Gregory Zuckerman reports. Some funds are focusing on senior, secured loans that are first in line to get paid back if energy companies run into debt problems. Others are buying hedges against further declines in oil or natural-gas prices. Both steps mean lower gains. Hedge fund Avenue Capital Group is buying senior debt that pays annual interest payments of more than 10%. If the companies survive, Avenue will pocket these high bond yields. Monarch Alternative Capital LP has been purchasing various hedges on its distressed energy investments, including derivatives that rise in value if oil prices fall.
Newsweek lost millions of dollars annually when its circulation exceeded three million, but the magazine is now profitable with a print order of only 100,000. Million-plus titles like Lucky and Ladies Home Journal are biting the dust, while every week it seems that another digital-native company announces a print magazine that has relatively minuscule circulation. Just a decade or so ago, an acquisition-minded publishing company put out word that it wouldn’t even look at a magazine that had a ratebase of less than 500,000. But now that digital media have given advertisers so many efficient ways to reach masses of consumers, scale is no longer the obvious path to publishing profitability. The digital natives entering our business have a lesson for us traditionalists: More than ever, printed magazines are the ideal medium for those who want deep engagement with a specific niche — and who are willing to pay for it.