Archive for January 5th, 2010

McClatchy waits for Miami land deal to close

Tuesday, January 5th, 2010

The firm set to buy land adjacent to McClatchy Company’s Miami Herald has asked for another extension of the closing date.

Citisquare Group LLC had until the end of December to close the 10-acre deal, according to the Sacramento Business Journal, but asked to extend their time to January 19 in exchange for increasing the fee they’ll pay should the deal not go through. McClatchy could collect $7 million if the deal fails; the previous fail-tab was $6 million.

Citisquare could extend the closing deadline to the end of January 2011 for an additional $6 million nonrefundable deposit on or before January 19 of this year.

McClatchy has already banked a $10 million nonrefundable deposit that the company says  it put toward debt.

Large retailers do better in print, study finds

Tuesday, January 5th, 2010

Large retailers get more for their money with print ads than they do on TV or online, a study conducted in the UK found, according to the Times of London.

In fact, print ads are more than twice as effective as television for large clothing stores, big grocery retailers, fashion retailers and department stores, Microsoft Advertising concluded.

The anonymous study participants included 24 of the top 100 UK companies in terms of media spending.

“The study recommended retailers increased online and print advertising budgets by 10 percent and decreased television budgets by that amount,” the newspaper said.