The word I’m hearing is that the sale of The Hollywood Reporter, Billboard, Adweek, Mediaweek and Brandweek to a consortium led by Lachlan Murdoch, behind Jimmy Finkelstein will be announced tomorrow.
Reported price: $70 million. Estimated price by my source: $75 million.
Can’t promise, just passing it along.
This also just in from the Wall Street Journal, possibly related: Lachlan Murdoch sells all of his non-voting shares of News Co. He sold 2.3 million of Class A News Corp shares, according to the SEC filing. He sold an equal amount two weeks ago.