The Wall Street Journal-20080122-In Brief
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In Brief
HBO's Web Service to Offer Video Downloads
Time Warner Inc.'s HBO is testing a new online-video service that would let its subscribers watch the pay-cable network's shows on their computers -- or download them to watch on the road. HBO is starting a trial of the service, called HBO Broadband, in Green Bay, Wis., the network says, and could roll it out more widely later this year. The service will be offered only through cable providers to HBO subscribers who also subscribe to the cable provider's Internet service. Although HBO has made limited efforts to market its programs online -- such as putting episodes of "Flight of the Conchords" on its Web site -- HBO Broadband would be its first offering of a broad swath of its shows over the Internet. The service would bring HBO in line with many other TV networks, including all of the major broadcasters, which already offer programming through the Web and other digital channels.
White Birch Affiliates to Buy SP Newsprint
Affiliates of White Birch Paper Co. of Greenwich, Conn., agreed to buy SP Newsprint Co., an Atlanta newsprint producer, for $350 million. SP Newsprint is owned equally by Cox Enterprises Inc., McClatchy Co. and Media General Inc. The sale includes the company's two newsprint mills in the U.S. as well as SP Recycling Corp., SP Newsprint's recycling subsidiary. SP Newsprint operates newsprint mills in Dublin, Ga., and Newberg, Ore., as well as SP Recycling Corp., a fiber procurement subsidiary with facilities primarily in the Southeast and West. Annual newsprint production totals approximately one million tons. The acquisition is expected to close in the first four months of 2008, pending regulatory approval. McClatchy said the transaction is expected to provide it with proceeds of approximately $40 million, which it will use to pay down debt. Media General, which also plans to use proceeds to pay debts, added that the divesture would result in a fourth-quarter loss that will be fully offset by a gain from a previously announced insurance settlement.
-- Associated Press
Regis Strikes Deal to Buy Salon Operations
Hair-salon operator Regis Corp. said it reached an agreement to buy the PureBeauty and BeautyFirst salon operations. Regis, whose salon chains include Supercuts, Jean Louis David and Vidal Sassoon, said it previously held a 19.9% equity interest in PureBeauty and BeautyFirst. Financial terms of the deal were not disclosed. Regis, based in Minneapolis, said PureBeauty and BeautyFirst operations consist of 63 company-owned locations and 51 franchise locations with consolidated annual revenue of about $65 million. "We will re-brand most of our Trade Secret locations to PureBeauty and most of our Beauty Express locations to BeautyFirst," Chief Executive Paul Finkelstein said. The company said the deal is expected to close next month and that details of the pact will be disclosed on its earnings call today.
