Business Newsreel: NH One hires two
CONCORD — Media newcomer New Hampshire One News announced Monday that it had hired two veteran journalists, one of them Kevin Landrigan, the former Nashua Telegraph reporter and political columnist who was laid off just last week.
CNN Political Editor Paul Steinhauser will also join the new company, which is headed by Rye businessman and former political candidate Bill Binnie. It plans to begin producing television, radio and digital news programming next month from Concord.
Landrigan has covered state and national politics for 33 years. Last week, the Telegraph announced it was closing its Concord bureau and laying off Landrigan. New Hampshire One News said Landrigan will appear on television, contribute to the NH1.com website, and be active on the company’s social media channels.
Steinhauser is expected to join the organization Jan. 1 as news anchor and political director. He served as CNN’s political editor and was part of its 2006 and 2012 election coverage.
Dollar General bids on Family Dollar
NEW YORK — Dollar General offered $9.7 billion for Family Dollar Stores, setting off a bidding war for a company that had agreed to an $8.5 billion takeover by Dollar Tree last month.
Dollar General plans to pay $78.50 a share in cash, compared with Dollar Tree’s bid of $74.50 a share in cash and stock, according to a statement Monday. The deal will generate $550 million to $600 million in cost savings annually three years after its completion, Dollar General said.Dollar General, based in Goodlettsville, Tenn., is fighting to keep its perch at the top of the dollar-store industry. A merger between its two rivals would have created a new market leader, escalating competition at a time when Wal-Mart Stores Inc. also is looming with new smaller-format stores.