Back to Newsroom
Back to Newsroom

Corporate News Blog - New Media Collaborates with ZipRecruiter; Set to Deliver Enhanced Job Search Experience

Thursday, 21 September 2017 07:50 AM

Pro-Trader Daily

Topic:

LONDON, UK / ACCESSWIRE / September 21, 2017 / Pro-Trader Daily takes a look at the latest corporate events and news making the headlines for New Media Investment Group Inc. (NYSE: NEWM) ("New Media"), following which we have published a free report that can be viewed by signing up at http://protraderdaily.com/optin/?symbol=NEWM. The Company announced on September 19, 2017, that ZipRecruiter, the fastest growing employment marketplace, will be the exclusive provider of recruitment advertising to all of the Company's print and online newspaper pages. As from October 01, ZipRecruiter powered pages will launch in over 550 markets across the US, to reach over 21 million readers each week. For immediate access to our complimentary reports, including today's coverage, register for free now at:

http://protraderdaily.com/register/

At Pro-TD, we make it our mission to bring you news that matter about the stock you follow. Today, our research desk covers a blog story on NEWM. Go directly to your stock of interest and access today's free coverage at:

http://protraderdaily.com/optin/?symbol=NEWM

The Announcement

According to New Media, local businesses in its markets will now be able to leverage the power of ZipRecruiter's best-in-class candidate matching algorithm, which delivers quality candidates to 80% of job ads posted on ZipRecruiter within the first 24 hours. The businesses will also have access to its industry-leading email job alert program and would do so while maintaining their relationship with their local newspaper sales representative.

New Media readers looking out for a new job will also benefit, as they can now search and apply easily through their local newspaper faster and easier than before. The jobs posted through the Company's papers, whether in print, online, or both, will also be available to search and apply in ZipRecruiter's award-winning mobile job search apps.

The Company stated that this innovative offering from New Media and ZipRecruiter will benefit both readers and local businesses in the communities it serves. The Company will leverage the strengths of ZipRecruiter's platform for its employment pages and is an example of the mutual benefits that agreements similar to it can create.

Company Growth Prospects

New Media supports small to mid-sized communities by delivering locally-focused print and digital content to its consumers and premier marketing and technology solutions for the small and medium business partners. The Company is one of the largest publishers of locally-based print and online media in the United States as measured by over 125 daily publications. The Company's portfolio now includes over 630 community publications and over 550 websites, more than 225,000 business advertising accounts, and a reach of over 21 million people on a weekly basis.

The Morris Acquisition

On August 09, 2017, New Media announced the acquisition of Morris Publishing Group, LLC for $120 million. The Company acquired many of the Morris Portfolio of US-based newspaper assets located across different states. The Company is also acquiring 79 publications including all eleven dailies, such as the Florida Times-Union, The Augusta Chronicle, and the Savannah Morning News. William S. Morris III, Chairman of Morris Publishing, resumed his position as the publisher of The Augusta Chronicle and would oversee editorial-page policy for the three Morris newspapers in Georgia.

The purchase price of the acquisition was within New Media's stated acquisition range of 3.5x - 4.5x the seller's LTM as adjusted EBITDA. The transaction was funded with cash on the balance sheet and is expected to be accretive to free cash flow with net synergies of $10 million - $15 million. The Company expects to close the transaction in Q4 2017.

Last Close Stock Review

On Wednesday, September 20, 2017, the stock closed the trading session at $14.02, rising 1.30% from its previous closing price of $13.84. A total volume of 262.90 thousand shares have exchanged hands. New Media Investment's stock price advanced 4.01% in the last one month and 5.33% in the past three months. The stock has a dividend yield of 9.99%. The stock currently has a market cap of $749.65 million.

Pro-Trader Daily:

Pro-Trader Daily (Pro-TD) produces regular sponsored and non-sponsored reports, articles, stock market blogs, and popular investment newsletters covering equities listed on NYSE and NASDAQ and Canadian stocks. PRO-TD has two distinct and independent departments. One department produces non-sponsored analyst certified content generally in the form of press releases, articles and reports covering equities listed on NYSE and NASDAQ and the other produces sponsored content (in most cases not reviewed by a registered analyst), which typically consists of compensated investment newsletters, articles, and reports covering listed stocks and micro-caps. Such sponsored content is outside the scope of procedures detailed below.

PRO-TD has not been compensated; directly or indirectly; for producing or publishing this document.

PRESS RELEASE PROCEDURES:

The non-sponsored content contained herein has been prepared by a writer (the "Author") and is fact checked and reviewed by a third party research service company (the "Reviewer") represented by a credentialed financial analyst [for further information on analyst credentials, please email [email protected]. Rohit Tuli, a CFA® charter-holder (the "Sponsor"), provides necessary guidance in preparing the document templates. The Reviewer has reviewed and revised the content, as necessary, based on publicly available information which is believed to be reliable. Content is researched, written and reviewed on a reasonable effort basis. The Reviewer has not performed any independent investigations or forensic audits to validate the information herein. The Reviewer has only independently reviewed the information provided by the Author according to the procedures outlined by PRO-TD. PRO-TD is not entitled to veto or interfere in the application of such procedures by the third-party research service company to the articles, documents or reports, as the case may be. Unless otherwise noted, any content outside of this document has no association with the Author or the Reviewer in any way.

NO WARRANTY

PRO-TD, the Author, and the Reviewer are not responsible for any error which may be occasioned at the time of printing of this document or any error, mistake or shortcoming. No liability is accepted whatsoever for any direct, indirect or consequential loss arising from the use of this document. PRO-TD, the Author, and the Reviewer expressly disclaim any fiduciary responsibility or liability for any consequences, financial or otherwise arising from any reliance placed on the information in this document. Additionally, PRO-TD, the Author, and the Reviewer do not (1) guarantee the accuracy, timeliness, completeness or correct sequencing of the information, or (2) warrant any results from use of the information. The included information is subject to change without notice.

NOT AN OFFERING

This document is not intended as an offering, recommendation, or a solicitation of an offer to buy or sell the securities mentioned or discussed, and is to be used for informational purposes only. Please read all associated disclosures and disclaimers in full before investing. Neither PRO-TD nor any party affiliated with us is a registered investment adviser or broker-dealer with any agency or in any jurisdiction whatsoever. To download our report(s), read our disclosures, or for more information, visit http://protraderdaily.com/disclaimer/.

CONTACT

For any questions, inquiries, or comments reach out to us directly. If you're a company we are covering and wish to no longer feature on our coverage list contact us via email and/or phone between 09:30 EDT to 16:00 EDT from Monday to Friday at:

Email: [email protected]

Phone number: (917) 341.4653

Office Address: Mainzer Landstrasse 50 Frankfurt am Main, Germany 60325

CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.

SOURCE: Pro-Trader Daily

Topic:
Back to newsroom
Back to Newsroom
Share by: