March 2, 1990 |
A Tax Court decision published Thursday overturned a $609.5-million IRS ruling against the estate of publisher Samuel I. Newhouse. The Internal Revenue Service said it has not decided whether to appeal. The tax court sided with the estate on the only issue in one of the biggest tax disputes in the nation's history: the value of Newhouse's stock in the family's publishing and broadcasting operations at the time of his death in 1979.
October 19, 1993 |
Earlier this year, the trade magazine Mediaweek quoted publishing baron Samuel I. (Si) Newhouse Jr. in an article on his Conde Nast magazine operations as saying, "We have not diffused our energy by spending a great deal of time in alternate media." Now Newhouse is putting a lot of his energy--and cash--into the brave new world of multimedia with a $500-million pledge from his family's Advance Publications Inc.
October 18, 1993 |
Reinforcing its bid for Paramount Communications, Barry Diller's QVC Network Inc. said Sunday it secured an extra $1 billion in financing from Cox Enterprises Inc. and Advance Publications Inc. QVC's effort to edge out Viacom Inc. for the prized movie studio was thus bolstered by two major media concerns--Cox, whose holdings include the Atlanta Journal & Constitution, and Advance, publisher of The New Yorker. Both also have extensive cable holdings.
May 9, 1998 |
Wired magazine, the splashy but financially struggling chronicler of the computer age, has been acquired by the publisher of the New Yorker, GQ and Vanity Fair in a deal reportedly worth about $80 million. The sale caps a lengthy search by Wired's publishers for a buyer and comes just a few months after the monthly magazine--known as much for its eye-watering graphics as for its technology-worshiping editorial bent--celebrated its fifth anniversary.
September 13, 1994 |
Time Warner Inc. will combine more than one-third of its cable operations into a new venture with Advance Publications and Newhouse Broadcasting Corp. in a deal that will give the media giant an additional 1.4 million subscribers. The agreement in effect allows Time Warner to gain control--without putting out any cash--over the Advance and Newhouse cable operations. The new venture will have 4.2 million subscribers, including 2.8 million from Time Warner.
March 13, 2001 |
Wired magazine, which covers the Internet and computer industry, said Editor in Chief Katrina Heron will resign in June. Heron said she plans to spend time with her family "before exploring new challenges." She joined the magazine in 1995 and became editor in chief in 1997, the year before it was bought by New York-based Conde Nast Publications Inc., a unit of Advance Publications Inc.