Rolling Stone, the magazine Jann Wenner started 50 years ago with a $7,500 loan from his family, closed a deal with Penske Media Corporation, sending Wenner Media's value to $100 million and giving PMC a controlling interest in the company. Wenner Media was previously valued at $50 million. The investment from PMC is within that same range, giving them a 51% stake. It is reported to rival what it paid for Fairchild's stable of titles in 2014. After rumors circled that PMC was the frontrunner in the bid for Wenner Media, the corporation closed the deal yesterday afternoon. Click Read More below for additional information.
Today, at the conclusion of the annual meeting of the Canadian Council of Forest Ministers (CCFM), Forest Products Association of Canada (FPAC) announced its strong support for the Ministers’ commitment to strengthen Canada’s forest sector through a renewed national vision.
The CCFM meeting is an annual gathering of Canada’s federal, provincial, and territorial Ministers and Deputy Ministers responsible for forestry. First established in 1985, the CCFM annual meeting provides a great opportunity for political leaders from across Canada to come together to discuss forest sector challenges and opportunities, as well as to talk about current and emerging forestry-related issues and trends across the country.
FPAC CEO Derek Nighbor, who presented to the CCFM delegation on Thursday, was pleased with what he heard coming out of this week’s meetings.
“Any time you have political leaders from not only different parts of the country, but also from different political parties, come together and align on key priorities like accelerating innovation, improving sector competitiveness, supporting the expansion of trade, and doing more to keep our communities safe from fire, it is a great message to send to our forestry workers, our investors, and our forestry communities from coast to coast,” said Nighbor.
“Canada can be proud of our reputation of being among the best in the world in how carefully and responsibly we manage our forests, how we are leaders in supporting the move to a greener economy, and how we are sustaining and creating good-paying jobs that support hundreds of thousands of families across the country. This week’s CCFM meetings affirmed the potential of made-in-Canada forestry to be bigger and better, and the political will from British Columbia to Newfoundland and Labrador to get more done,” he added.
Canada’s forest products sector, like other natural resource sectors in Canada, is subject to among the most stringent rules and regulations in the world. The quality of Canadian forest products and the responsible way in which we manage our forests in Canada are key advantages for our sector in many key markets around the world.
more at: http://www.fpac.ca/fpac-applauds-ministers-commitment-to-strengthening-canadas-forest-sector/