Wednesday, 24 October 2007

25- LES HINTON

Job: executive chairman, News International
Age: 63
Industry: publishing
2006 ranking in the media Guardian: 26
2007 ranking in the media Guardian:25

He is one of Rupert's Murdoch important person, as he is the excutive chairman of the biggest companies that owns the most famous newspapers the Sun,News of the World, the Times and the Sunday Times.
he wanted to cut down 100 jobs from the four newspapers because the company aims to make the saving of £30m in recent years.
It has been quite a year for Hinton. In the past 12 months, News International has revamped the Sun and Times websites and launched a London freesheet, the London Paper, which aimed to take a chunk out of Associated Newspapers' London Evening Standard.
Hinton also had to deal with the fallout from the royal phone-tapping scandal which led to the imprisonment of the News of the World's royal editor Clive Goodman, and the departure of the paper's editor, Andy Coulson.
Hinton turned to an old friend, former Sunday Mirror editor Colin Myler, to replace Coulson.
Goodman had also flouted the Press Complaints Commission code of practice which is overseen by Hinton in his other role as chairman of the code committee of the PCC.
A former reporter on the Sun, Hinton has worked for Murdoch for more than 40 years. Now 63, talk has turned to his successor but Hinton told the Guardian last year that he was "not thinking about retirement. I'm not thinking about doing something else."
Hinton's salary is not identified in News International's annual report, but the highest paid director - almost certain to be Hinton - received £2.1m.
Appearing before the Commons media select committee in the wake of the Goodman scandal, Hinton said genuine investigations should not be caught in the fallout.
"Placing too great an inhibition on people setting out to explore what are considered genuine issues of public concern is a dangerous thing to do," he told MPs.
Earlier, Hinton had announced a self-imposed ban on paparazzi images of Prince William and Kate Middleton in all of his group's publications, including the Sun.
On the challenges facing media today, Hinton said: "This is a tumultuous time and we have to refashion our business models, but the good news is that never has the media been able to reach more people more instantly with richer content.
"The Times has been around since 1785, yet its journalism has never been more widely read - by nearly 10 million a month online alone, and still climbing. If you have great brands and great content, that is pretty well all that life is about."

Wednesday, 3 October 2007

EMAP ARTICLE

Emap could offer loan to secure sale
By Dominic White
Last Updated: 1:04am BST 11/09/2007
Emap's lending banks have indicated that they could offer a loan to potential buyers to aid the sale of the £1.9bn magazines and radio group.
FHM owner Emap is keen to secure a sale despite the credit crunch
One of the groups circling Emap has asked whether the owner of FHM magazine and Magic radio station could offer so-called "stapled financing" amid fears that the liquidity squeeze in the credit market might put its normal lenders off backing such a large takeover.
The radio-to-magazines company, which has eight relationship banks including BNP Paribas, Society Generale, ABN Amro, Citigroup and Royal Bank of Scotland, indicated to the potential bidder that some of its lenders could help with finance if necessary.
Emap put itself up on the block in July and is keen to secure a sale despite the squeeze in the credit market.
Stapled financing, whereby a vendor's banks offer a loan to the company's buyers, is often used by private equity owners selling on assets but is increasingly common among listed companies eager to secure deals.
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Emap has attracted initial interest from more than two dozen trade buyers for all three of its divisions - business to business publishing, the £700m consumer magazines group, and radio, valued at £400m.
They include several foreign companies, including magazine groups Mondadori, Lagardere, Hachette-Filipacchi and, reportedly, the Finnish group Sanoma.
Guardian Media Group has also expressed an interest as have several private equity houses, including Apax Partners.