Steve Cavendish writes that a local investor group featuring former Tennessean Publisher Craig Moon and ex-Scene Editor Bruce Dobie this summer made an offer to Gannett executives to buy The Tennessean and its regional sister papers. The group bid more than $200 million but didn't snag its target.
One source, who was familiar with the deal but not part of negotiations with Gannett, said The Tennessean's profitability — the paper's profit margins exceeded 20 percent last year — made it an attractive option even in challenging times for the newspaper industry. The source added, however, that the prospective Nashville buyers thought the company's current management had damaged the paper's brand, and that both revenue and circulation could be improved.
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The parent of the Post, the Nashville Scene and other publications has signed an agreement to sell Creative Loafing Charlotte to the owner of Greensboro, North Carolina-based YES! Weekly. SouthComm will continue to run Creative Loafing papers in Atlanta and Tampa. Check out more details here.
Ingram Entertainment executives have set about integrating their recent acquisition of California-based Video Products Distributors, which will add about $200 million to their annual revenues of $544 million. The local company is consolidating VPD's operations in the Folsom area near Sacramento, which will cut its payroll there to 40 from almost 100.
Ingram Publisher Services has been tapped by New York-based e-book publisher RosettaBooks to handle the sales, print-on-demand and distribution for the latter's first foray into hard copies. The companies' first project for 13-year-old RosettaBooks will be a work by former Pepsi and Apple CEO John Sculley.
The state has approved a $175,000 grant from the Department of Economic and Community Development for "My Many Sons," a biopic about the life of former Lipscomb coach Don Meyer.
ECD Commissioner Bill Hagerty announced the news on Tuesday.
"‘My Many Sons’ decision to film here, offer Lipscomb University students valuable behind-the-scenes learning opportunities and hire local actors, is a testament to the kind of creative and collaborative environment our department works to support and highlight around our state," Hagerty said.
"Beverly Hills Cop" star Judge Reinhold will play Meyer.
The 19-day shoot, which will require up to 300 extras, began shooting yesterday.
Meyer passed away in May at the age of 69 at his home in South Dakota.
Lew Dickey and his executive team at Cumulus Media are pushing hard to grow their new NASH country music brand on a number of fronts. Jessica Nicholson at Music Row has gathered some details — including digital video, an app and a magazine that will begin to stand on its own next year — from Cumulus' recent Q2 conference call.
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