Today Media Acquires Suburban Maryland Titles (mediapost.com)

Adams Publishing Group is acquiring The Livingston Enterprise and its parent company Yellowstone Newspapers, consisting of 13 small-town Montana newspapers. Terms were not disclosed. The deal was reached last Friday by John Sullivan, president of the Montana Group, and Mark Adams, president and CEO of Minnesota-based Adams Publishing Group (APG). It is expected to close on Nov. 1. This marks the end of a 57-year reign in the local newspaper business for the Yellowstone Group.

Fourth quarter Walgreens Boots Alliance highlights, year-over-year: *Sales increased 2.3 percent to $34.7 billion, up 2.3 percent on a constant currency basis *Operating income decreased 26.0 percent to $650 million; Adjusted operating income decreased 27.7 percent to $1.1 billion, down 27.4 percent on a constant currency basis. Fiscal 2020 highlights, year-over-year: *Sales increased 2.0 percent to $139.5 billion, up 2.5 percent on a constant currency basis *Operating income decreased 73.7 percent to $1.3 billion; Adjusted operating income decreased 24.9 percent to $5.2 billion, down 24.8 percent on a constant currency basis *Net cash provided by operating activities was $5.5 billion, a decrease of $109 million compared with fiscal 2019; Free cash flow increased 5.6 percent to $4.1 billion

Q3 2020 Headlines: *While the COVID-19 pandemic continued to impact third quarter net sales and billings performance, HMH’s continued virtual learning support for customers and decisive cost and liquidity actions helped mitigate the impact of the COVID-19 pandemic on its profitability and cash flow, and resulted in strong cash generation in the seasonally important third quarter of 2020. *Net sales declined 32% to $387 million in the third quarter, and declined 28% to $828 million on a year-to-date basis *Billings1 declined 32% to $506 million in the third quarter, and declined 33% to $934 million on a year-to-date basis *HMH concluded the Texas Literature adoption with a 34% share of the opportunity *Significant growth in digital platform usage with a 388% increase in student assignments over the last twelve months as schools continue to adjust to remote learning environment *Continued acceleration of SaaS billings growth to 147% for the last twelve months *Net cash provided by operating activities of $264 million in the third quarter, and $75 million on a year-to-date basis *Strong free cash flow2 of $237 million in the third quarter, and nearing break-even at $(11) million on a year-to-date basis