Simon & Schuster Acquires Dutch Publisher Veen Bosch & Keuning (publishersweekly.com)

FY24 first quarter service performance scores covering October 1 through October 27, included: *First-Class Mail: 88.1 percent of First-Class Mail delivered on time against the USPS service standard, a decrease of 2.9 percentage points from the fiscal fourth quarter. *Marketing Mail: 94.5 percent of Marketing Mail delivered on time against the USPS service standard, consistent with performance from the fiscal fourth quarter. *Periodicals: 85.6 percent of Periodicals delivered on time against the USPS service standard, consistent with performance from the fiscal fourth quarter.

A tentative contract agreement has been reached between the International Longshore and Warehouse Union (ILWU) and the Pacific Maritime Association (PMA), easing concerns about a strike at 29 West Coast ports disrupting incoming freight from the Asia-Pacific region ahead of the fall and Q4, nearly a year after the previous contract expired. “We are pleased to have reached an agreement that recognizes the heroic efforts and personal sacrifices of the ILWU workforce in keeping our ports operating,” said PMA President James McKenna and ILWU President Willie Adams in a joint statement. “We are also pleased to turn our full attention back to the operation of the West Coast ports.”

The New York Times Company announced fourth quarter 2022 diluted earnings per share from continuing operations of $.43 compared with $.41 in the same period of 2021. Adjusted diluted earnings per share from continuing operations (defined below) was $.59 in the fourth quarter of 2022 compared with $.43 in the fourth quarter of 2021. Operating profit decreased to $93.0 million in the fourth quarter of 2022 from $94.1 million in the same period of 2021 as higher digital subscription revenues at The New York Times Group segment (“NYTG”) and the impact from six additional days in the quarter were more than offset by a one-time charge related to the Company’s withdrawal from a multiemployer pension plan and operating losses at The Athletic segment (“The Athletic”). Adjusted operating profit (defined below) increased to $141.8 million from $109.3 million in the prior year, as higher digital subscription revenues at NYTG and the impact from the additional six days more than offset operating losses at The Athletic. Adjusted operating profit at NYTG increased to $148.7 million from $109.3 million as higher digital subscription and other revenues more than offset lower digital advertising revenues.