Media General Will Begin Negotiations with Proposed Buyer Nexstar

first_img Furthermore, Meredith chairman and CEO Stephen Lacy, who would lead the proposed new entity created under a Media General/Meredith merger, reiterates that the company’s board of directors still believes the agreed-upon merger agreement with Media General is in the best interest of Meredith and its shareholders. Even as negotiations with Nexstar begin, Media General’s board of directors continues to recommend following through with the Meredith acquisition under the terms established in September. Media General first announced an agreement to buy Meredith for $2.4 billion in September. Weeks later, Nexstar submitted an unsolicitied proposal to buy Media General, a deal that, if made, would jeopardize the yet-to-be completed Meredith takeover, an acquisition Nexstar described as “ill-conceived.” Media General’s board of directors reached two unanimous decisions, according to a company statement. The first was to formally reject Nexstar’s initial, $4.1 billion proposal, saying that it “significantly undervalues” the company. The second was to enter negotiations with Nexstar over the suitor’s non-binding, unsolicited proposal. Media General was granted a waiver by Meredith to pass on non-public information to Nexstar in evaluation of the deal, which Nexstar claimed would offer Media General greater value, both immediately and long-term.center_img The cloud of uncertainty cast over Media General’s proposed purchase of Meredith Corp. grew a shade darker Monday, as Media General announced that it will officially open negotiations with its own proposed buyer, Nexstar Broadcasting Group. “We are surprised that Media General’s Board considers the value of our proposal to be inadequate today,” said Perry Sook, chairman, president and CEO of Nexstar, in a statement. “However, we are willing to engage with them to hear their perspectives.” Meredith released a statement of its own in response to the announcement, saying, “Meredith understands Media General Board’s fiduciary responsibility to respond to the Nexstar proposal consistent with our binding merger agreement announced on September 8, 2015. However, Meredith still remains confident that the combination of Meredith and Media General will generate superior shareholder value … as compared to a potential Nexstar transaction.”last_img read more

The Wilmington Insider For November 16 2018

first_imgWILMINGTON, MA — Below is a round-up of what’s going on in Wilmington on Friday, November 16, 2018:Happening Today:Weather: Rain, mainly before 10am. High near 42. Northeast wind 6 to 16 mph becoming west in the afternoon. Chance of precipitation is 90%. New precipitation amounts between a quarter and half of an inch possible.At Wilmington Public Schools: The Wilmington High School’s Lamplighters’ Drama Guild is ready to entertain you with its production of She Kills Monsters. Shows will be held on Friday, November 16 at 7pm and Saturday, November 17 at 2pm and 7pm in the Wilmington High School Auditorium. Tickets cost $5 for students, seniors (65 and over), and military, and $10 for adults. Tickets can be purchased in advanced at http://www.WilmingtonCATS.org or http://www.brownpapertickets.com/event/3821891. Tickets will also be sold at the door.In The Community: The Wilmington Rotary Club is excited to announce its Annual Auction at the Wilmington Knights of Columbus Hall (112 Middlesex Avenue). Doors open at 6pm. Auction begins at 7pm.Local businesses are donating items to be auctioned off, and there is a free buffet and cash bar available, as well as a “wine wall.”This is the Rotary Club’s big fundraiser, and proceeds go towards scholarships for graduating Wilmington seniors, as well as the various projects that the Club does around town, including improvements to Rotary Park, donations to the library and the public schools, and various youth organizations. Proceeds will also benefit Rotary International initiatives, including efforts to eradicate polio, develop clean water projects, and the homelessness and hunger initiative.At the conclusion of the night, the Club will draw the winning raffle tickets, for the following prizes:Grand Prize – $10,000Two Second Place Prizes – $1,000Two Third Place Prizes – $500Four Fourth Place Prizes – $250Only 350 tickets are being sold. Tickets cost $100 each.  For tickets or more information, please contact John Doherty at 978 658-3805.In The Community: The Aleppo Shriners will be holding its annual Festival of Trees on Friday, November 16 (5pm to 8pm); Saturday, November 17 (10am to 5pm); and Sunday, November 18 (10am to 4pm) at the Shriners Auditorium (99 Fordham Road).This event features a large number of beautiful trees with lots of presents to raffle.  The event also features Photos with Santa, Holiday Music, Delicious Treats, DIY Holiday Crafts, Scavenger Hunt, and Aleppo Clowns, plus the HONS Craft Fair.Admission costs just $1. (Children 3 and under are free.)  Proceeds from the event will benefit the Aleppo Shriners General Fund.  For more information, contact David Veo at 617-777-3303 or Laura Veo at 617-908-8513, or email AleppoTreeFeztival2018@gmail.com.At The Library: Needleworkers at 10am. R.E.A.D. Middle Grade Book Club: Garvey’s Choice by Nikki Grimes at 3:45pm. [Learn more and register HERE.]At The Senior Center: Video Exercise at 10am. Doris Craft 10am. Special Exercise at 11am. Bingo at 1pm. Cards at 1:30pm. [Learn more HERE.]Live Music: Pacific Grove (211 Lowell Street) is hosting Karaoke from Winnell Entertainment at 8pm.(NOTE: What did I miss? Let me know by commenting below, commenting on the Facebook page, or emailing wilmingtonapple@gmail.com. I may be able to update this post.)Like Wilmington Apple on Facebook. Follow Wilmington Apple on Twitter. Follow Wilmington Apple on Instagram. Subscribe to Wilmington Apple’s daily email newsletter HERE. Got a comment, question, photo, press release, or news tip? Email wilmingtonapple@gmail.com.Share this:TwitterFacebookLike this:Like Loading… Related5 Things To Do In Wilmington On Saturday, August 3, 2019In “5 Things To Do Today”The Wilmington Insider For November 1, 2018In “5 Things To Do Today”5 Things To Do In Wilmington On Friday, July 19, 2019In “5 Things To Do Today”last_img read more

VIDEO Watch Concert with WHS Strings Chorus Soundscape 8th Grade Chorus

first_imgWILMINGTON, MA — Wilmington High School’s Strings, Chorus and Soundscape Acapella group, along with the 8th grade Chorus, held its Winter Concert on Thursday, December 6, 2018 in the Wilmington High School Auditorium.Wilmington Community Television was on hand to cover the concert. Watch it below:—Video Playerhttps://objects-us-east-1.dream.io/wilmington/f/2/7/9/1/8/f279182a-1fc2-417f-b8b7-ab3752a2a8121544205967.316%2B48988666.360%40castus4-wilmington%2B15442098141544208053979219.vod.720p.8th%20Grade-HS%20Chorus%2C%20Soundscape%2C%20HS%20Strings.mp4Media error: Format(s) not supported or source(s) not foundmejs.download-file: https://objects-us-east-1.dream.io/wilmington/f/2/7/9/1/8/f279182a-1fc2-417f-b8b7-ab3752a2a8121544205967.316%2B48988666.360%40castus4-wilmington%2B15442098141544208053979219.vod.720p.8th%20Grade-HS%20Chorus%2C%20Soundscape%2C%20HS%20Strings.mp4?_=100:0000:0000:00Use Up/Down Arrow keys to increase or decrease volume.—Like Wilmington Apple on Facebook. Follow Wilmington Apple on Twitter. Follow Wilmington Apple on Instagram. Subscribe to Wilmington Apple’s daily email newsletter HERE. Got a comment, question, photo, press release, or news tip? Email wilmingtonapple@gmail.com.Thank You To Our Sponsor:Share this:TwitterFacebookLike this:Like Loading… RelatedVIDEO: Watch 2019 Wilmington Spring Chorus FestivalIn “Videos”VIDEO: Watch Concert with 7th & 8th Grade Strings & Chorus, WHS Chorus & SoundscapeIn “Videos”VIDEO: Watch 2018 Wilmington Spring Choral ConcertIn “Videos”last_img read more

Ctg worlds cheapest place to scrap ships but its people who pay

first_imgShipbreakers cut up a beached vessel for scrap in Chittagong, Bangladesh. Photo: The Guardian Mohamed Edris’s life as he knew it in the Bangladeshi ship recycling yards ended at 11.30am on Saturday 11 April 2015. The 38-year-old metal cutter had been working with 100 others on the 19,600-tonne container ship Eurus London at the Ferdous Steel Corporation shipyard in Chittagong when catastrophe struck.His task had been to cut away the huge 40-tonne propeller with a blow torch. Alarm bells rang, he said, when he saw that a large metal platform had been placed below the propeller to stop it falling into the mud on the beach.“I told the supervisor and two others that it was dangerous because it could bounce back when the propeller fell. I told them I could not do it, but they insisted that I did,” he said. He obeyed and nearly died. The propeller broke free, hit the metal plate and sprung back as he predicted. It sliced off his left leg below the knee, blinded him in one eye and nearly broke his back, says The Guardian in an article published on 2 December.The yard paid for his hospital treatment, gave him Tk 125,000 (£1,142) compensation and Tk 460 (£4.32) a week for nine months. Now he, and the seven family members he supported, rely on handouts from friends. But in a legal test case Zodiac Maritime, the London-based shipping company that managed the Eurus London until it was sold for scrap, could be held responsible, the article adds.In a case that could see British, American and European shipowners and managers being made liable for the many deaths and accidents that take place every year in Bangladeshi, Indian and Pakistani shipbreaking yards, UK law firm Leigh Day is suing Zodiac for negligence on behalf of Edris. It claims that Zodiac, which manages about 150 large ships and is owned by Eyal Ofer, son of the late Israeli shipping magnate Sammy Ofer, should have known how dangerous the Chittagong breaking yards were when the vessel was sold for scrap to GMS, a US-based “cash buyer” or middle man.“Zodiac knew, or ought to have known, that there was a foreseeable risk of physical harm to workers when they allowed their vessel to be sold to a Chittagong yard through a cash buyer,” says Martyn Day, a director of Leigh Day.New legal action is needed, say environmentalists and unions, because of the steady number of deaths and injuries to workers. On one level, shipbreaking is one of the world’s “greenest” industries, with every nut, bolt and sheet of metal on a ship being recycled. It also employs hundreds of thousands of people in some of the world’s poorest countries. But, say critics, owners knowingly cause suffering to workers by sending their ships to be recycled on Asian beaches. British-based companies have sent 28 ships to be beached in the past two years, including six to Chittagong. Two vessels waiting to be dismantled in that yard last week were managed by Zodiac.“Shipowners shield themselves from responsibility through the use of cash buyers. These scrap dealers sell off the ships for the highest price offered,” says Ingvild Jenssen, director of Shipbreaking Platform, a Brussels-based coalition of environmental, human rights and labour groups. “All ships that end up on the beaches of Bangladesh, Pakistan or India pass through cash buyers, and all sales to cash buyers are clearly scrap deals where the higher price paid indicates that the vessel will be beached.”Shipbreaker Mohamed Edris has lost his left leg and blinded in one eye by the accident. Photo: The GuardianMore than 800 large ships are broken up each year, the vast majority on Asian beaches. Owners can earn an extra $1m to $4m (£740,000 to £2.96m) per ship when selling to Asian yards via cash buyers, instead of opting for recycling yards with higher standards, says Jenssen. “No one forces the industry to send ships to be dismantled there. They choose to send them,” she says.Edris, who came to Chittagong aged 14 and who, until his accident, worked six 14-hour shifts a week, earning £3.20 a day, is one of thousands of workers who have been injured in the yards since they appeared in the 1960s. There are no official statistics but labour groups say that in the past 10 years there have been more than 125 deaths, according to The Guardian.Chittagong is now the world’s largest shipbreaking centre, last year recycling 230 ships and generating 10m tonnes of steel – up to 60% of all the steel used in Bangladesh. Most of the workers migrate from rural areas. Hired out in gangs, they live in overcrowded shacks close to the yards. The Ferdous yard is like many others. Hidden behind high metal gates, it slopes down to the Bay of Bengal. It can take months for young men, wielding only sledgehammers and metal cutters, to dismantle a large vessel.“Chittagong is the cheapest place to scrap ships but the price is suffering. Nine men have died here this year. Nobody feels responsible for these men’s lives,” says Muhammed Ali Shahin, Bangladesh coordinator of Shipbreaking Platform. The law offers little protection, he says. “EU laws stop EU-flagged ships being broken up on Asian beaches, but because owners can easily ‘reflag’ ships it has little strength.”Pressed by labour groups, the UN’s International Maritime Organisation passed the Hong Kong Convention (HKC) in 2009. This demands that ship owners and states do not pose a risk to human health, safety and the environment. But, says Shipbreaking Platform, it does not stop the beaching of vessels, which is blamed for most accidents, and it is unlikely to come into force for years because it requires 15 states, and 40% of world merchant shipping, to have signed up.“The industry is moving to adopt Hong Kong standards,” says Nikos Mikelis, a non-executive director of GMS. “There is a good likelihood of the convention entering into force within the next five to seven years. Ratifying and reaching the HKC targets will not be too difficult.” He argues that groups such as Shipbreaking Platform are naive and, by demanding the end of beaching, are endangering the livelihoods of workers in some of the world’s poorest countries.He does see progress. “Japan and India are investing $100m in upgrades. Forty-one yards out of 120 in Alang, India, now meet HKC standards and 15 others are moving towards safer and cleaner work. But in Bangladesh only one yard [PHP Shipbreaking] meets international standards.”Mikelis says the major shipping companies such as Maersk now have arrangements with individual yards. “The industry wants improvement but it needs to invest to improve,” he says.In the case of Zodiac, Martyn Day argues that the company knew the methods involved in dismantling vessels in Chittagong, yet it sold the Eurus London on in the full knowledge that it would be broken up in unsafe conditions. “They had a duty not to sell vessels to Bangladesh shipyards via their contractors or cash buyers,” he says. “Zodiac sold it to a cash buyer in the knowledge it would be dismantled in unsafe conditions.”In a statement to the Observer, Zodiac said the accident occurred four months after the ship had been sold to a third-party buyer. As a result, it said: “We deny any liability for the injuries suffered by Edris and we dispute the claim.”It added: “The yard where Edris was employed was not Zodiac’s contractor and Zodiac did not select the yard used to dismantle the vessel. Zodiac has no control over the working practices at shipbreaking yards. The claim seeks to extend the law of negligence beyond any recognised boundaries. It is the law of Bangladesh which applies to this case.”The impact of an injury on workers’ families is immense. “Edris provided for seven people,” said one man who knows him. “He has no savings. He is angry. He is now wholly reliant on the generosity of friends and family. His children have become scared of him because he cries a lot and screams in pain.”Edris said: “I feel like a dead man. I have no hope. I will never be able to go back to work. I have steel plates in my body and I can only walk on sticks, I am in constant pain. I want to open a shop, but that needs 500,000 Bdt.“I have seen many men killed and injured. It is very dangerous work. I tell people not to work there.”last_img read more

Speechimpaired girl raped

first_imgA speech-impaired girl was reportedly raped by the driver of Shyamnagar Upazila Nirbahi Officer in the government quarter premises in upazila headquarters in Satkhira on Saturday, reports UNB.Police arrested driver Abdul Gaffar, 57, son of Gahar Gain, resident of Badoghata village, after the victim’s mother filed a rape case with Shyamnagar police station.The victim, a student of Shyamnagar Government Moshin Degree College, used to live along with her mother at Abdul Gaffar’s house in Badoghata village as tenants.On Saturday noon, Gaffar’s wife Amena Begum sent his launch through the girl. When the girl went to the UNO’s residence, Gaffar violated her inside his quarter 2:30pm, said sub-inspector Raj Kishore of Shyamnagar police station citing the case statement.Later in the evening, the girl informed the matter to her mother and Amena Begum filed the case against Gaffar.last_img read more