Sunnyvale : Yahoo! Inc. (NASDAQ: YHOO) today reported results for the fourth quarter and full year ended December 31, 2011.

Revenue excluding traffic acquisition costs ("revenue ex-TAC") was $1,169 million for the fourth quarter of 2011, a 3 percent decrease from the fourth quarter of 2010. Income from operations increased 10 percent to $242 million in the fourth quarter of 2011, compared to $220 million in the fourth quarter of 2010.

GAAP revenue was $1,324 million for the fourth quarter of 2011, a 13 percent decrease from the fourth quarter of 2010.

Revenue ex-TAC was $4,381 million for the full year ended December 31, 2011, a 5 percent decrease from the same period of 2010. The year over year decrease was primarily due to the revenue share related to the Search Agreement with Microsoft. Income from operations increased 4 percent to $800 million for the full year ended December 31, 2011, compared to $773 million for the same period of 2010.

GAAP revenue was $4,984 million for the full year ended December 31, 2011, a 21 percent decrease from the same period of 2010, primarily due to the required change in revenue presentation related to the Search Agreement and the associated revenue share with Microsoft.

Net earnings per diluted share was $0.24 in both the fourth quarter of 2011 and the fourth quarter of 2010.

Des Moines : Meredith Corporation  and The Reader's Digest Association, Inc. announced today that Meredith, the leading media and marketing company serving American women, has agreed to purchase Allrecipes.com, the world's No. 1 digital food site.

"The acquisition of Allrecipes.com, the market leader in the digital food space, significantly enhances our leading consumer and advertiser proposition," said Meredith Chairman and CEO Steve Lacy. "It more than doubles the scale of the Meredith Women's Digital Network, and is expected to drive incremental revenue and profit growth, adding to our already strong free cash flow over time."

The acquisition of a digital brand of scale aligns well with Meredith's Total Shareholder Return (TSR) financial strategy, which was announced on October 25, 2011.  The TSR strategy includes (1) An increase in its annual stock dividend by 50 percent to $1.53 per share; (2) A new $100 million share repurchase authorization; and (3) Strategic investments to drive incremental revenue and profit growth. 

The transaction, valued at $175 million, is expected to close later this quarter.  Meredith plans to invest in Allrecipes.com to optimize the site for today's growing online and mobile audiences. This investment spending, along with normal business seasonality, is expected to make the acquisition slightly dilutive – approximately $0.10 per share, or less than 4 percent – to Meredith's fiscal 2012 full year financial performance.  Meredith expects the acquisition will be modestly accretive to earnings per share and free cash flow in fiscal 2013. 

The addition of Allrecipes.com fits with Meredith's previously stated strategic acquisition criteria: (1) National media brands that provide access to new audiences and advertising categories; and (2) Digital platforms that significantly increase scale.  

"The acquisition of Allrecipes.com significantly enhances our digital platform and reinforces our leadership position in the food category," said Meredith National Media Group President Tom Harty. "It increases our relevance with new, younger audiences, and offers advertisers an unmatched ability to now connect with an audience of more than 100 million consumers.  We are excited to add Allrecipes.com, the world's No. 1 food website, to our strong portfolio of digital media brands."

Allrecipes.com currently has a database of over 500,000 recipes.  Its U.S. audience is 70 percent female with a mean household income of $73,000, and it reaches nine out of 10 primary grocery decision makers. Allrecipes.com mobile apps have been downloaded by over 11 million consumers, and they are the No. 1 download on Android, iPhone, and iPad recipe applications.  It is also the top food recipe channel on YouTube.  

"Allrecipes.com is a dynamic, growing business and our sale process generated significant excitement," said Robert Guth, Reader's Digest Association president and CEO. "We are very pleased to have reached agreement with Meredith.  We have worked well with them on a past transaction, so we know they will be a great home for this business and the team.  For RDA, this is a significant step forward in our commitment to focus our resources on our core businesses, such as the Reader's Digest brand."

Added Lisa Sharples, President of Allrecipes.com, "Meredith is the perfect home for Allrecipes.com.  Meredith's laser focus on women, existing strength in food, strong relationship with advertisers and proven consumer marketing expertise are very attractive.  Together, I'm confident we can grow the Allrecipes.com brand as well as the Meredith Women's Network across digital, mobile and social media platforms."

"We are constantly looking for strategic acquisitions and investment opportunities to expand our reach and increase shareholder value," said Meredith Chief Development Officer John Zieser.

BDT & Company served as financial advisor to Meredith, and McDermott, Will & Emery served as its legal advisor.  Morgan Stanley and Evercore Partners acted as financial advisors to Reader's Digest, and Weil, Gotshal and Manges acted as its legal advisor.
 

Des Moines : Meredith Corporation  has reported fiscal 2012 second quarter earnings per share of $0.70, compared to $0.88 in the year-ago period.  Revenues were $329 million, compared to $366 million. Meredith recorded $21 million, or $0.28 per share, less of political advertising revenues in the second quarter of fiscal 2012 than in the year-ago period, which is expected in an off-election year.

"Our Local Media Group delivered an industry-leading 9 percent gain in non-political advertising revenues during the second quarter of fiscal 2012," said Meredith Chairman and Chief Executive Officer Stephen M. Lacy.  "While the advertising market remained challenging for our National Media Group, we're seeing an improving trend as we look to early calendar 2012, particularly in the food and home advertising categories."

Lacy noted Meredith's Total Shareholder Return financial strategy, announced on October 25, has been very well received by the investment community.  Key elements include (1) A 50 percent annual dividend increase to $1.53 from $1.02 per share that produced yields of 5 to 6 percent during the quarter; (2) A new $100 million share repurchase authorization; and (3) Ongoing strategic investments to drive incremental revenue and profit growth over time, such as today's announcement that Meredith would acquire Allrecipes.com from The Reader's Digest Association, Inc.

The addition of Allrecipes.com, the world's No. 1 digital food site, doubles the scale of the Meredith Women's Network in terms of both audience reach and revenues.  It also fulfills two of Meredith's previously stated criteria for strategic acquisitions: (1) National media brands that provide access to new audiences and advertising categories; and (2) Digital platforms that significantly increase scale.  With Allrecipes.com, the Meredith Women's Network will be the No. 1 premium owned and operated website in the Women's Lifestyle Category, according to the most recent comScore data. 

"Allrecipes.com significantly enhances our digital platform," Lacy said.  "It increases our relevance with a large and loyal group of consumers, and strengthens our position in the marketplace by connecting advertisers with an audience of 100 million consumers.  It fits perfectly with our Total Shareholder Return Strategy, adding strategic value to Meredith, and is expected to drive incremental growth in revenues, profit and free cash flow over time."

WPP announces that Burson-Marsteller, its wholly-owned global public relations and public affairs firm, has agreed to acquire a majority equity stake in Viestintätoimisto Pohjoisranta Oy ("Pohjoisranta") in Finland.

Pohjoisranta, based in Helsinki, has a team of more than 40 professionals and is one of Finland’s largest communications agencies.

Pohjoisranta has been Burson-Marsteller’s exclusive affiliate partner in Finland since 2006 and now joins the network as Pohjoisranta Burson-Marsteller. The company’s clients include HP, Metso, SAP and Stora Enso.

Pohjoisranta's unaudited revenues for the year ended 31 December 2011 were approximately Euro 5.1 million, with gross assets as at the same date of approximately Euro 1.8 million.

This acquisition continues WPP's strategy of investing in important markets and sectors. WPP businesses in Scandinavia, including associates, generate revenues of over US$500 million and employ nearly 3000 people.

WPP announces that it has agreed to acquire, through the Kantar network, a majority stake in Oasis Insights (Private) Limited ("Oasis"), an insight and consultancy business based in Karachi, subject to regulatory approvals.

Founded in 1996 by Mr Moazzam Al Qadri, Oasis offers insight and consultancy services to clients across all business sectors. Oasis employs 105 people and clients include Engro Foods, Mobilink, PTC, Ufone and Unilever.

Oasis' revenues for the year ended 30 June 2011 were approximately PKR 254 million, with gross assets at the same date of approximately PKR 109 million.

This investment continues WPP’s strategy of developing its services in fast-growing and important markets and sectors. Pakistan is one of the fastest-growing markets in the world, identified by Goldman Sachs as one of the Next 11 economies to watch. WPP businesses (including associates) in the Next 11 markets generate revenues of more than US $700million and employ more than 9000 people.

New York : The New York Times Company has entered into an agreement to sell its Regional Media Group, consisting of 16 regional newspapers, other print publications and related businesses, to Halifax Media Holdings LLC for $143 million in cash, subject to certain adjustments.

The transaction is expected to close within a few weeks and upon completion of the sale, the Company will record an after-tax gain on the sale in the first quarter of 2012. The Company intends to use the net proceeds for general corporate purposes. The Company estimates the net after-tax proceeds from the sale will be approximately $150 million.

“These news organizations have served as trusted institutions in their communities, delivering news and information that matter most to their readers,” said Arthur Sulzberger Jr., chairman of The New York Times Company. “The sale of our Regional Media Group will enable The New York Times Company to continue our transformation to a digitally-focused, multiplatform media company.”

Under the Times Company’s stewardship, the newspapers within the Group have received three Pulitzer Prizes, including the 1971 Prize for editorials in The Gainesville Sun on the peaceful desegregation of Florida's schools, the 1997 Prize for spot news photography for The Press Democrat for a photograph of a firefighter rescuing a teenager from raging floodwaters and the 2011 Prize for investigative reporting for the Sarasota Herald-Tribune’s year-long series on the challenges that Florida’s property insurance industry have posed for ordinary citizens.

“The purchase of the Regional Media Group reflects Halifax Media’s belief that a good newspaper is an essential part of any vibrant community. The strong local news coverage these papers provide represents not only an important community service, but, in our eyes, a good investment,” said Michael Redding, chief executive officer of Halifax Media. “We have been impressed with the newspapers’ reputations as well as the markets they serve. When you have the opportunity to purchase solid news products located in great markets, it is very compelling, and we are excited to have the Group join Halifax Media.”

Except for the historical information contained herein, the matters discussed in this press release are forward-looking statements that involve risks and uncertainties that could cause actual results to differ materially from those predicted by such forward-looking statements. These risks and uncertainties include national and local conditions, as well as competition, that could influence the levels (rate and volume) of retail, national and classified advertising and circulation generated by the various markets, material increases in newsprint prices and the development of digital businesses. They also include risk factors detailed from time to time in The New York Times Company's publicly filed documents, including its Annual Report on Form 10-K for the year ended December 26, 2010. The New York Times Company undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.

The Regional Media Group comprises the following publications:

Sarasota Herald-Tribune in Sarasota, Fla.;
The Press Democrat in Santa Rosa, Calif.;
The Ledger in Lakeland, Fla.;
Star-News in Wilmington, N.C.;
Herald-Journal in Spartanburg, S.C.;
Star-Banner in Ocala, Fla.;
The Gainesville Sun in Gainesville, Fla.;
The Tuscaloosa News in Tuscaloosa, Ala.;
The Gadsden Times in Gadsden, Ala.;
The Courier in Houma, La.;
Times-News in Hendersonville, N.C.;
Daily Comet in Thibodaux, La.;
The Dispatch in Lexington, N.C.;
Petaluma Argus-Courier in Petaluma, Calif.;
News Chief in Winter Haven, Fla.; and
North Bay Business Journal in Santa Rosa, Calif.
 

New York : The New York Times Company (NYSE: NYT) announced today that it is in advanced discussions to sell its Regional Media Group, consisting of 16 regional newspapers, other print publications and related businesses, to Halifax Media Holdings LLC.

The Regional Media Group comprises Sarasota Herald-Tribune in Sarasota, Fla.; The Press Democrat in Santa Rosa, Calif.; The Ledger in Lakeland, Fla.; Star-News in Wilmington, N.C.; Herald-Journal in Spartanburg, S.C.; Star-Banner in Ocala, Fla.; The Gainesville Sun in Gainesville, Fla.; The Tuscaloosa News in Tuscaloosa, Ala.;
The Gadsden Times in Gadsden, Ala.; The Courier in Houma, La.; Times-News in Hendersonville, N.C.; Daily Comet in Thibodaux, La.; The Dispatch in Lexington, N.C.;
Petaluma Argus-Courier in Petaluma, Calif.; News Chief in Winter Haven, Fla.; and North Bay Business Journal in Santa Rosa, Calif.

Except for the historical information contained herein, the matters discussed in this press release are forward-looking statements that involve risks and uncertainties that could cause actual results to differ materially from those predicted by such forward-looking statements. These risks and uncertainties include national and local conditions, as well as competition, that could influence the levels (rate and volume) of retail, national and classified advertising and circulation generated by the various markets, material increases in newsprint prices and the development of digital businesses.

They also include risk factors detailed from time to time in The New York Times Company's publicly filed documents, including its Annual Report on Form 10-K for the year ended December 26, 2010. The New York Times Company undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.

WPP announces that its wholly-owned full-service digital marketing agency, VML Inc., (“VML”), has acquired a majority stake in Qais Consulting (“Qais"), a leading digital marketing agency in Singapore.

Qais will join its business operations with VML, one of the world’s leading digital marketing agencies, and rebrand as VML Qais, which will operate as part of Y&R Asia.

Founded in 2005 and based in Singapore, with a presence in Mumbai, India, Qais is a highly-awarded full-service digital marketing agency offering digital and marketing strategy, user experience, technology development, research and analytics, mobile and channel management, social media, search marketing, online advertising, and media management services. It employs 31 people and clients include Standard Chartered Bank, Sony Electronics, Sony Pictures, Hilton Hotels, Mahindra & Mahindra, ICICI Bank, Tata Motors and the Singapore Ministry of Defence.

Qais’ revenues for the year ended 31 December 2010 were S$4 million with gross assets of S$1.6 million at the same date.

VML, a US-based company founded in 1992 with operations around the globe, is one of the world’s largest wholly digital agencies. VML clients include Colgate-Palmolive, Dell, English Premier League, Gatorade, Kellogg, Microsoft, SAP, Southwest Airlines, Western Union and Xerox.

This investment continues WPP’s strategy of developing its networks in fast growing and important markets and sectors and strengthening its capabilities in digital media. WPP's businesses in the Asia Pacific region generate revenues of over US$4 billion (including associates) and employ approximately 42,000 people. Globally, new media and digital accounts for approximately 30% of WPP revenues. In 2010, WPP reported global revenues of US$14.4 billion.

Sunnyvale : Yahoo! Inc. has announced it completed its tender offer for the outstanding shares of interclick, inc. (NASDAQ: ICLK) at a price of $9.00 per share, net to the holder in cash, without interest and less any applicable withholding taxes. Yahoo! commenced the tender offer on November 15, 2011 and it expired at the end of the day on December 13, 2011.

Computershare, the depositary for the tender offer, advised that 20,911,954 shares of interclick common stock were validly tendered representing approximately 81% of interclick's outstanding common stock and approximately 66% of interclick's outstanding common stock on a fully diluted basis. It also received commitments to tender 1,259,742 shares of interclick common stock in accordance with guaranteed delivery procedures. Yahoo! has accepted for payment all shares validly tendered (excluding any guaranteed deliveries).

interclick has built an industry leading data valuation platform optimized to work with large data volumes across multiple providers and marketplaces. It dramatically improves data targeted solutions and optimizes returns for advertisers across a variety of pooled premium supply. interclick brings new premium supply and a rich set of campaign reporting tools that will allow Yahoo! to provide improved insights on performance.

Hong Kong :Ogilvy Public Relations Worldwide (Ogilvy PR) Hong Kong today announced that it has agreed to acquire a majority stake in the Hong Kong-based healthcare communications firm Mind Resource Healthcare Consulting Limited (Mind Resource), subject to approvals, to target the HK$95 billion (US$12.1 billion)* Hong Kong healthcare industry and further extend its market position in Hong Kong.

The acquisition will help Ogilvy make further inroads into Hong Kong’s growing healthcare industry that includes pharmaceuticals, healthcare services and medical devices, where demand has been spurred by the growing affluence and aging of the population. According to Admango, monitored advertising spending of pharmaceuticals & healthcare in the first nine months of 2011 amounted to HK$4,710 million (US$603.8 million).

Founded in 2007, Mind Resource is a leading firm in the highly specialised field of healthcare communications which includes disease awareness, patient education, and medical education. Mind Resource currently represents some of the top multinational pharmaceutical companies, medical associations, medical service providers and professionals.

Janet Yeung, founder of Mind Resource, will retain a minority interest in the company following completion of the transaction and continue to serve as the General Manager of Mind Resource. Mind Resource will become the Hong Kong arm of Ogilvy’s global integrated healthcare communications service group OgilvyHealth. Ms Yeung will work with the current senior management team, and OgilvyHealth’s newly appointed Regional Director Rohit Sahgal to provide the same level of service that Mind Resource has become known for in this market, with the added advantage of the backing of the Ogilvy group.

*Business Monitor International Hong Kong Pharmaceuticals and Healthcare Report Q3 2011.
‘‘Many global pharmaceutical brands are turning to Asia for growth opportunities. Now more than ever, they need partners who can manage communications outside the U.S. and Europe and have a deep understanding of the local regulatory environment and market nuances. With Mind Resource’s strong track record and reputation in the healthcare space, Ogilvy has a new commercial advantage and will continue to build our pre-eminent position in healthcare communications in Asia," said Steve Dahllof, President and CEO, Asia Pacific, Ogilvy Public Relations Worldwide.

“With Hong Kong as a growing healthcare center in the region, we have managed the patient education and market communications for a wide spectrum of clients including medical associations, multi-disciplinary top-notched medical specialists, as well as over 50 leading pharmaceutical brands in Hong Kong since 2007 and carved out a strong position in the market. We now recognise that joining a powerful group like Ogilvy can help us expand and broaden our services in this fast-changing environment,” said Janet Yeung, founder of Mind Resource.

This strengthening of Ogilvy PR’s healthcare offering comes at a time when Hong Kong has targeted medical services as one of the six identified industries that the Special Administrative Region enjoys clear advantages and has great potential for further development,” said Clara Shek, Managing Director of Ogilvy Public Relations Worldwide Hong Kong. “This acquisition reinforces Ogilvy’s leadership at just the right time, when few international players have managed to build a sustainable business model in this highly specialised field.”

This announcement marks a major healthcare PR acquisition in Hong Kong by an international public relations consultancy network. The clients of Ogilvy and Mind Resource include such healthcare industry heavyweights as Alcon, Bayer, Boehringer Ingelheim, Eli Lilly, Glaxo Smithkline, Invisalign, Janssen, MSD, Novartis, Pfizer, Roche, among others.