Boston Globe, Metro Boston Offer Combined Ad Packages; Complete Agreement on Joint Venture.BOSTON -- Seventh graph should read: Today, in its U.S. editions, Metro described the steps that it is taking to address a number of workplace issues within its organization that had been raised following the January announcement of the joint venture (sted Yesterday, in its U.S. editions xxx). The corrected release reads: BOSTON GLOBE, METRO BOSTON OFFER COMBINED AD PACKAGES; COMPLETE AGREEMENT ON JOINT VENTURE The Boston Globe, New England's leading newspaper, and Metro Boston, a free daily catering to young professionals, today began offering joint advertising opportunities to Boston area advertisers seeking to reach a young, diverse audience through both publications. The combined buy opportunity is just one of many benefits for readers and advertisers in Greater Boston Greater Boston is the area of the Commonwealth of Massachusetts surrounding the city of Boston, Massachusetts. While Metro Boston tends to be the "Inner Core" surrounding the City of Boston, Greater Boston overlaps the North and South Shores, as well as the MetroWest region. after a transaction completed yesterday between the Globe Newspaper Company, Inc. and Boston Metro Boston Metro may refer to:
Because the two newspapers serve very different audiences, the joint venture provides a strategic fit that will give advertisers attractive new efficiencies in the New England New England, name applied to the region comprising six states of the NE United States—Maine, New Hampshire, Vermont, Massachusetts, Rhode Island, and Connecticut. The region is thought to have been so named by Capt. marketplace that neither product was able to deliver alone. Since its debut in 2001, Metro Boston has attracted a young, well-educated audience of almost 300,000 daily readers, 62 percent of whom are under the age of 45. By comparison, The Boston Globe reaches just over one million readers each weekday, but only 115,000 of them also read the Metro. Completion of the transaction came after the United States Department of Justice “Justice Department” redirects here. For other uses, see Department of Justice. The United States Department of Justice (DOJ) is a Cabinet department in the United States government designed to enforce the law and defend the interests of the United States said that it had closed its inquiry into whether the proposed joint venture raised antitrust concerns. Although the joint venture will provide for some cross-promotional opportunities for each newspaper, the editorial content and newsrooms of both properties will remain independent of one another. Today, in its U.S. editions, Metro described the steps that it is taking to address a number of workplace issues within its organization that had been raised following the January announcement of the joint venture. Globe publisher Richard Gilman said, "After several weeks of careful examination of all of the issues involved, we're convinced that this partnership will be good for readers, advertisers and for the community. The Metro has set high standards for its conduct, and we are convinced they are well along in achieving those standards." Pelle Tornberg, president and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Metro International, said, "The new venture is affirmation by one of the world's most respected media companies of the free daily concept that Metro created in 1995." Tornberg also noted that, "As an international newspaper company, our goal is to serve as an example for our industry in creating and promoting the advantages of diversity and tolerance in our offices and in our news coverage." The Boston Globe is a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of The New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of Times Company (NYSE NYSE See: New York Stock Exchange : NYT NYT New York Times NYT National Youth Theatre (UK) NYT New York Transit (New York, USA) NYT New York Tribune ), a leading media company with 2004 revenues of $3.3 billion includes, The New York Times, the New York Times, The Morning daily newspaper, long the U.S. newspaper of record. From its establishment in 1851 it has aimed to avoid sensationalism and to appeal to cultured, intellectual readers. International Herald Tribune International Herald Tribune Daily newspaper published in Paris. It has long been the staple source of English-language news for American expatriates, tourists, and businesspeople in Europe. , The Boston Globe, 16 other newspapers, eight network-affiliated television stations and more than 40 Web sites, including NYTimes.com and Boston.com. For the fifth consecutive year, the Company was ranked No. 1 in the publishing industry in Fortune's 2005 list of America's Most Admired Companies A yearly publication by Fortune Magazine, America's Most Admired Companies consists of corporations that are highly esteemed by the likes of Business Executives, Directors, and Analysts. A survey is taken of close to 3300 professionals who give their opinions on the companies. . The Company's core purpose is to enhance society by creating, collecting and distributing high-quality news, information and entertainment. Metro USA is a division of Metro International, the world's leading free daily newspaper group, which currently publishes 42 newspaper editions in 16 languages. These editions reach more than 14.5 million daily readers and 32 million weekly readers in 63 major cities throughout 17 countries covering Europe, North and South America and Asia. Metro USA's five free dailies in North America are located in Toronto, Philadelphia, Montreal, Boston and New York. The papers carry local, national and international news in a standardized, accessible format designed to serve the needs of commuters and other busy consumers. The Metro Boston joint venture follows the structure of other Metro International partnerships, including those with Torstar Corporation in Canada and Television Francaise 1 S.A. in France. This press release can be downloaded from www.nytco.com |
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