Roundup: Discovery, Martek, Slate, Jos. A. Bank
*Discovery Holding and Advance/Newhouse signed a definitive agreement to combine their stakes in Discovery Communications, owner of the Discovery and Animal Planet cable channels.
Former Discovery chief executive and current board member John Hendricks will be appointed chairman and David Zaslav will be CEO, Discovery Holding said. A preliminary accord was reached in December.
*Martek Biosciences, the maker of nutritional oils for foods and baby formula, said second-quarter profit jumped 89 percent, to $9.2 million (28 cents a share) from $4.9 million (15 cents) in the comparable period a year earlier, on global infant formula sales.
*Slate.com magazine executive editor Jacob Weisberg, 43, has been promoted to chairman and editor in chief of the newly created Slate Group, Washington Post Co. Chairman Donald E. Graham said.
Slate Group is an online publishing business that includes Slate; the Slate V video site; TheRoot, a magazine aimed at black readers; and the Big Money, Slate's business site planned for later this year. The Post Co. owns Slate and the other sites to be included in the new group.
Slate deputy editor David Plotz, 38, will be Slate's new editor. The Slate Group is likely to expand, through further spinoffs and acquisition, Graham said. "The Slate Group is an Internet start-up within the framework of an existing media company," Weisberg said in a statement.
*Carlyle Group co-founder David Rubenstein said private-equity firms will buy smaller asset managers to expand beyond the leveraged-buyout business.
"Private-equity firms do not want to be completely dependent on one business any longer," Rubenstein said at the Super Return U.S. conference in Boca Raton, Florida. "It's an industry where people focused on doing buyouts and now will be focusing on many ways to deploy capital."
*Retailer Jos. A. Bank Clothiers said first-quarter profit jumped 18 percent, to $9.8 million (53 cents) from $8.4 million (45 cents), helped by a big boost in sales at established stores. Revenue at the Hampstead, Md., retailer rose 12 percent, to $145.4 million. Same-store sales, or sales at stores open at least a year, rose 6.4 percent.
Please email us to report offensive comments.
The comments to this entry are closed.