Addressing the Challenges in the Paper Supply Chain (piworld.com)

Rite Aid Corporation announced that it has secured regulatory clearance for an amended and restated asset purchase agreement with Walgreens Boots Alliance, Inc. whereby WBA will purchase 1,932 stores, three distribution centers and related inventory from Rite Aid for an all-cash purchase price of $4.375 billion on a cash-free, debt-free basis. Rite Aid also has the option to purchase generic drugs that are sourced through an affiliate of WBA at a cost substantially equivalent to Walgreens for a period of 10 years. The Hart-Scott-Rodino waiting period expired for the proposed transaction. Under the amended and restated agreement, Rite Aid will retain approximately 250 additional stores as compared to the prior agreement announced between Rite Aid and WBA in June 2017, resulting in a reduction in the transaction sale price. The decision to retain these stores follows discussions between Rite Aid and WBA, as well as the U.S. Federal Trade Commission ("FTC"). Click Read More below for additional detail.

Global learning company Houghton Mifflin Harcourt announced changes to its executive team, with a slate of new talent and the promotion of internal leaders to support its goal of improving learning outcomes for all students. “With a passionate and talented team in place, I look forward to what’s on the horizon for HMH as we deliver on our unique ability to provide truly integrated learning solutions,” says Jack Lynch, President and CEO, HMH. “This group brings the right balance of K-12 teaching and learning experience and customer-centered innovation to the table to deepen HMH’s longstanding position as a leading core curriculum provider and to expand and diversify our portfolio in faster growing segments within intervention, supplemental curriculum and professional services.” Click Read More below for additional information.

Lee Enterprises is on course with its digital transformation, judging by its Q4 and fiscal 2022 results. The publisher, which now bills itself as a digital-first subscription platform, reported total digital revenue of $65 million in Q4, a 31% increase YoY. In contrast, overall revenue was flat at $194 million. The results were similar for fiscal 2022: Total operating revenue was $781 million, down 2% from the prior year. But digital revenue grew by 27% to $240 million.