Hedge fund buys Press Democrat and four other North Bay publications
The purchase agreement, confirmed by the companies on Thursday, would add the Santa Rosa-based publication to Alden's dozens of newspaper holdings that include the Mercury News, East Bay Times and San Diego Union-Tribune.
'We always believed that a viable, independent local press was vital to our North Bay community. We believe that the newspaper, its staff and most importantly the public will be best served under the stewardship of MediaNews Group, with the newspaper expertise and financial resources necessary to carry on our mission of delivering the highest-caliber local journalism for future North Bay generations,' said Darius Anderson, managing member of Sonoma Media Investments, in a statement.
The sale would honor the existing contract between the newspaper and the Pacific Media Workers Guild, the newsroom's union.
'We are honored to bring a newspaper of this quality into MediaNews Group,' said Frank Pine, executive editor of MediaNews Group, in a statement. 'We appreciate the importance of local news and information to the communities where we publish and are proud to expand our commitment to Northern California in the North Bay.'
The Press Democrat won a Pulitzer Prize in 2018 for its coverage of the Tubbs Fire.
The sale also includes the Sonoma Index-Tribune, Petaluma Argus-Courier, North Bay Business Journal, Sonoma magazine, Sonoma County Gazette and La Prensa Sonoma.
Hearst, owner of the Chronicle, was also reportedly a bidder for the newspapers.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
43 minutes ago
- Yahoo
HKFoods backtracks on plan to sell Polish bacon factory
Following a strategic review, Finnish meat processor HKFoods has decided to keep its bacon production unit in Swinoujście, Poland. In a stock exchange filing published today (3 July), the company said it will 'continue with the current group structure', backtracking on reassessment plans announced in April that could have included a sale of the Swinoujście site. Operated by HKFoods' business in Poland, the Swinoujście plant has around 300 employees, according to the company. HKFoods reiterated its April estimate today that the Polish subsidiary will generate net sales of approximately €70m ($82.3m) in 2025. Commenting on the decision, HKFoods CEO Juha Ruohola said: 'We have invested in the Polish bacon unit over the past years and the profitable unit is in good shape. We have developed the unit's capacity and efficiency by investing in a slicing and packaging line in 2024, for example. During the first half of 2025, we have also continued our investment in increasing the added value of our Polish operations and our property development project. 'Following the extensive restructuring, we are now focusing on implementing our strategy in the HKFoods Group's operations in Finland and Poland, improving the competitiveness of our core business and the profitability of our operations, in addition to commercial activities." The company had said in April that the assessment was part of its ongoing evaluation of its group structure 'aimed at strengthening the group's balance sheet'. The Finnish meat processor has undergone significant restructuring in recent years to bolster its financial flexibility, including selling its businesses in the Baltics, Sweden, and Denmark. In May last year, the company signed a deal to sell its Danish subsidiary to Plukon Food Group, a Netherlands-based poultry group, for €44.6m. HKFoods also sold its Swedish business to local agri-food group Lantmännen in January 2024. The company's 2024 financial results, published in February, showed net sales from continuing operations of €1bn, up 7.4% from the previous year, driven by 'good' consumer demand and 'successful' commercial activities. EBITDA from continuing operations rose to €56.3m, a 24.8% increase from 2023, while the loss for the period narrowed to €1.8m from €17.3m in 2023. Losses turned positive in the most recent results issued in May for the first quarter of 2025. HKFoods delivered a net profit of €0.8m versus a €3.8m loss a year earlier. Sales climbed 2.2% to €233.7m in the three months to 31 March, while EBITDA from continuing operations rose 36% to €12.1m. In March, HKFoods also closed a slaughterhouse in the town of Paimio, Finland, as cattle numbers declined. Operations conducted by the company's Paimion Teurastamo business were to be transferred to the 'external service provider' Liha Hietanen in Sastamala by 31 March, HKFoods said in a statement. "HKFoods backtracks on plan to sell Polish bacon factory" was originally created and published by Just Food, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Errore nel recupero dei dati Effettua l'accesso per consultare il tuo portafoglio Errore nel recupero dei dati Errore nel recupero dei dati Errore nel recupero dei dati Errore nel recupero dei dati
Yahoo
an hour ago
- Yahoo
Transmarine Navigation Corporation acquires T Parker Host
Transmarine Navigation Corporation (TNC), a US-based tramp ship agency, has announced the acquisition of ship agency T Parker Host. The merger, effective from 1 July 2025, unites two leading ship agencies to form what the companies claim is the 'largest independent tramp ship agency' in the US. The deal combines more than 85 years of Transmarine's expertise along the Pacific corridor with Host's century-long legacy on the US East and Gulf Coasts. The partners seek to create value for customers, partners, employees and the maritime community. TNC managing director Leslie Clements stated: 'This partnership is rooted in a shared commitment to customer service, operational excellence and the future of marine logistics. 'By uniting two organisations with deep expertise and proud histories, we're building a stronger, more agile partner for our customers — one that's equipped to meet the evolving demands of global trade.' By leveraging Host's advanced technology, talent and expertise alongside Transmarine's established market presence, the combined entity aims to accelerate market positions, expand service capabilities and maintain a high level of customer service. T Parker Host chairman and CEO Adam Anderson stated: 'This acquisition aligns with our strategic vision to deliver seamless, high-touch maritime solutions across every major US port. 'By joining forces with Transmarine, we are expanding our footprint into the Pacific and enhancing our ability to serve customers with the same responsiveness, precision, and trust they've come to expect — now at every major port in the US, every tide and every terminal.' The merger is poised to bring key benefits to clients, including the continuation of service, enhanced capabilities through broader geographic reach and advanced technical resources, and a seamless transition with no disruptions to current services or agreements. "Transmarine Navigation Corporation acquires T Parker Host" was originally created and published by Ship Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. 擷取數據時發生錯誤 登入存取你的投資組合 擷取數據時發生錯誤 擷取數據時發生錯誤 擷取數據時發生錯誤 擷取數據時發生錯誤
Yahoo
an hour ago
- Yahoo
If You Invested $1000 in Microsoft a Decade Ago, This is How Much It'd Be Worth Now
How much a stock's price changes over time is a significant driver for most investors. Not only can price performance impact your portfolio, but it can help you compare investment results across sectors and industries as well. FOMO, or the fear of missing out, also plays a role in investing, particularly with tech giants and popular consumer-facing stocks. What if you'd invested in Microsoft (MSFT) ten years ago? It may not have been easy to hold on to MSFT for all that time, but if you did, how much would your investment be worth today? With that in mind, let's take a look at Microsoft's main business drivers. Microsoft Corporation is one of the largest broad-based technology providers in the world. The company dominates the PC software market with more than 73% of the market share for desktop operating company's Microsoft 365 application suite is one of the most popular productivity software globally. It is also one of the prominent public cloud providers that can deliver a wide variety of infrastructure-as-a-service (IaaS) and platform-as-a-service (PaaS) solutions at WA-based Microsoft's products include operating systems, cross-device productivity applications, server applications, business solution applications, desktop and server management tools, software development tools and video games. Its software solutions and hardware devices are playing an important role in developing the company designs and sells PCs, tablets, gaming and entertainment consoles, other intelligent devices, and related accessories. Through Azure, it offers cloud-based solutions that provide customers with software, services, platforms and reported revenues of $245.1 billion in fiscal 2024. The company reports operations under three segments: Productivity & Business Processes, Intelligent Cloud and More Personal & Business Processes accounted for 31.7% of fiscal 2024 revenues. The segment offers productivity and collaboration tools and services including Office 365, Dynamics business solutions, Teams, Relationship Sales solution, Power Platform and Cloud, which include Azure cloud services, contributed to 42.9% of fiscal 2024 closed its acquisition of Activision Blizzard on October 13, 2023 for $75.4 billion. Activision Blizzard has been integrated as a sibling division to Xbox Game Studios and ZeniMax Media. More Personal Computing represented 25.3% of fiscal 2024 revenues. The segment comprises mainly the Windows, Gaming (Xbox hardware and Xbox software and services), Devices (Surface, PC accessories, and other intelligent devices) and Search (Bing and Microsoft Advertising) businesses. While anyone can invest, building a lucrative investment portfolio takes research, patience, and a little bit of risk. If you had invested in Microsoft ten years ago, you're probably feeling pretty good about your investment today. According to our calculations, a $1000 investment made in July 2015 would be worth $11,060.59, or a gain of 1,006.06%, as of July 3, 2025, and this return excludes dividends but includes price increases. Compare this to the S&P 500's rally of 199.86% and gold's return of 176.71% over the same time frame. Analysts are forecasting more upside for MSFT too. Microsoft capitalizes on AI business momentum and Copilot adoption alongside accelerating Azure cloud infrastructure expansion. Strong Office 365 Commercial demand has been propeling Productivity and Business Processes revenue growth notably. ARPU increases through E5 and M365 Copilot uptake across key segments. Intelligent Cloud revenues advance through Azure AI development and AI Copilot busines growth. Strategic execution has been enhancing non-AI services through enterprise customer growth and operational scale improvements. Xbox content and services benefit from robust performance across third-party and first-party content offerings. We expect that fiscal 2025 net sales will increase 13.7% compared to fiscal 2024. However, elevated operating expenses and Azure investments amid intensifying cloud competition remain concerns for the stakeholders. The stock is up 5.87% over the past four weeks, and no earnings estimate has gone lower in the past two months, compared to 3 higher, for fiscal 2025. The consensus estimate has moved up as well. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Microsoft Corporation (MSFT) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research
