MATING GAME: A pair of Internet-based marketing and media survivors announced acquisition deals Tuesday. Gen Y-focused Alloy Inc. has bought most assets of Youthstream Media Networks for $7 million in cash, and Nielsen/NetRatings has agreed to...
MATING GAME: A pair of Internet-based marketing and media survivors announced acquisition deals Tuesday. Gen Y-focused Alloy Inc. has bought most assets of Youthstream Media Networks for $7 million in cash, and Nielsen/NetRatings has agreed to purchase NetValue SA, a measurement service and researcher based in Neuilly sur Seine, France, for $14.2 million in cash and $3.5 million in N/NR stock. Alloy chairman and chief executive Matt Diamond estimated Youthstream in 2003 will add between $6 million and $7 million to Alloy’s top line and $1 million in incremental EBITDA. The $17.7 million forked over by N/NR will be used to buy 4.6 million shares of NetValue common, giving it a 52 percent stake in NetValue. N/NR also aims to make a tender offer for the balance of NetValue shares.
STEWART GETS SERIOUS: A congressional committee Tuesday wrote Martha Stewart to say its investigation into her sale of ImClone stock had turned "serious" and was no longer a "peripheral issue to the ImClone investigation," after further discrepancies emerged between her account of the sale and that of her broker. "We want to assure ourselves that you have not attempted to mislead this committee with the intent to obstruct an investigation," committee chairman Billy Tauzin (R., La.) and oversight subcommittee chairman James Greenwood, (R., Pa.), wrote Stewart.
SPARE A DIME?: Wal-Mart Stores Inc. received a $125 million bank loan from Berkshire Hathaway Inc., wire services reported Tuesday. The loan is part of a $2.85 billion, 364-day revolving line of credit arranged for Wal-Mart in late July by J.P. Morgan Chase & Co. along with 42 other lenders.
“I think what’s so interesting about the #MeToo movement and this whole new wave of feminism in general, is that women are finally seeing, ’Oh I can start my own company, oh I can lear to code, oh I can leave my nine-to-five job and do the thing I want to do,” said @brooklyndecker ahead of her @sxsw talk for @createcultivate. The former model took the stage to share wisdom about networking and female-driven entrepreneurship. #wwdeye #sxsw (📷: @jgreenery)
“I was making the guacamole when my scout saw me,” says model @stuckinteenage on being discovered just six months ago while working at @chipotlemexicangrill. Since then Williams has signed with @dnamodels, walked in her first show at @calvinklein and landed on the cover of @vogueitalia – a high point of any model’s career. To read @lisajlockwood’s full interview with the model on her experiences thus far, head to WWD.com – link in bio. (📷: George Chinsee)
“I love the idea of dialogue, period. It’s where I’ve always gotten my inspiration from: hearing other women speak, their journeys and their paths,” said @hereisgina, who delivered the keynote speech at the @sxsw conference for @createcultivate, the online platform and conference series for women. For her two panels, Rodriguez chose female empowering, female-led and female entrepreneurs to focus on. Head to WWD.com to read more about her thoughts on Time’s Up, growing up in a family of women and why we “need a girls’ club.” #wwdeye #sxsw (📷: @jgreenery)
Leading luxury brand are shaking things up to keep up with streetwear. Case in point: the arrival of @mrkimjones as artistic director of @diorhomme. Jones, who succeeds @Kris_Van_Assche, is seen as one of the handful of designers who can actually straddle the luxury and streetwear worlds — which could lead to even more changes at established brands. What could this mean for the rest of the menswear landscape? Head to WWD.com to find out what experts predict #wwdfashion (📷: @franckmura)
“It’s like buying groceries. You’re going to buy the best mango, the best mozzarella, the best things. You have to, or others are going to take it all,” said @gabrielahearst on why she uses only the finest fabrics. Last week, Hearst received her first @cfda nomination for Womenswear Designer of the Year, and earlier this month she opened a permanent showroom in Paris. To read @jessiredale’s interview with the designer and find out why this is shaping up to be a big year for her, head to WWD.com. #wwdfashion (📷: @francoisgoize)
“It’s an interesting thing, playing a younger version of your mother. It’s an interesting concept. I adore my mom and love her in every capacity, but it was just something that had never crossed my mind,” says @anniemstarke on playing a young Joan Castleman in “The Wife.” The same role will be played by her mother Glenn Close. Read more about her growing up in the film industry as the daughter of producer John H. Starke and Close and what she has planned for the future #wwdeye (📷: @nataliamantini)
@asics is launching a new streetwear sneaker inspired by its latest ambassador, @steveaoki. The Hyper-Kenzen x Aoki, which will launch at @footlocker stores exclusively tomorrow, is a slip-on style that incorporates the brand’s proprietary Gel technology through beads integrated into the midsole for comfort and endurance. Read the full story on WWD.com.