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Revolving Door Newsletter: 08.25.09
Observer Launches Real Estate Paper; Facebook Plans To Expand WorkforceAugust 25, 2009
Thanks to bankruptcy and restructuring, JPMorgan Chase essentially owns Reader's Digest Association, Source Interlink Media, and American Media Inc., making the bank the nation's largest media company. If you totaled the revenues of the three companies, they would reach $5.04 billion -- more than Hearst and Condé Nast combined. (Time Inc., previously considered the country's largest media entity, boasted revenues of $4.6 billion in 2008.) Given the state of the economy, it wouldn't be surprising to see JPMorgan add more properties to its roster. (Could the Hallmark Channel be one of them?)...