Word: ince
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Dates: during 1980-1989
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...have relatively small investments in their corporations, he argues, oil executives have tended to let stock prices languish. "It infuriates me," he says, "to see them invest their own money in Treasury bills rather than work to improve the value of their companies' stock." According to John S. Herold Inc., an appraiser of oil companies, shares of major energy firms are currently trading at about 45% of what the corporations would be worth if they were broken up and their assets sold separately...
...Gannett Co. Inc., the year has opened with a shopping spree. In January the Rosslyn, Va.-based media giant, which publishes 124 newspapers, including the national daily USA Today, announced it was buying the respected Des Moines Register (circ. 240,000) and three sister papers in Tennessee and Iowa for $200 million from the Des Moines Register & Tribune Co. Last week Gannett purchased the nation's fourth-largestcirculation periodical, Family Weekly (the leaders: Parade, 23 million; the Reader's Digest, 18 million; TV Guide, 17 million...
Family Weekly, which is inserted into the Sunday editions of 362 newspapers with a combined circulation of 12.8 million, was sold by CBS Inc. for a reported $30 million to $40 million, well below the $50 million CBS paid in 1980. Family Weekly has been suffering from a loss of advertising. Ad pages dropped from 814 in 1983 to 718 last year, while annual ad revenues declined from $102 million to an estimated $100 million. Its chief competitor, Parade, which appears in 135 papers, is also slumping. Advertising in that New house- owned insert fell from 754 pages...
Last week Time Inc., one of the nation's largest communications companies, announced that it would buy Southern Progress. The privately held firm will be purchased in a deal valued at $480 million. Along with Southern Living, the acquisition will bring into Time Inc.'s fold two other monthly magazines, Progressive Farmer and Creative Ideas for Living, as well as a book-publishing subsidiary, Oxmoor House, which markets how-to books and other illustrated volumes. Its authors have included James Dickey, Walter Cronkite and James J. Kilpatrick...
...transaction was unusual for Time Inc., which has traditionally preferred to develop its own magazines rather than buy existing ones...