Brands Brief: Grocery Chain Albertsons to Acquire Rite Aid

Top Stories

  • Grocery chain Albertsons agreed to buy the remainder of drugstore chain Rite Aid, creating a combined company would have about 4,900 locations, 4,350 pharmacy counters and 320 health clinics across the United States. The combined company would have a value of about $24 billion, including debt, with Rite Aid Chairman and Chief Executive John Standley as CEO and Albertsons Chairman and Chief Executive Bob Miller taking the role of chairman. (CNBC)
  • Inc. said its Prime credit card holders will get 5 percent cash back on purchases at Whole Foods, the same reward cardholders get on purchases from The announcement from Amazon, which bought Whole Foods last year for $13.7 billion, follows a move to offer Prime members free two-hour delivery of Whole Foods groceries in four U.S. cities, with an expansion expected later this year. (CNN)
  • Newsweek magazine published a story detailing legal and financial concerns at the magazine and its ties to a Christian college, with several Newsweek staffers making known to management that they would quit if the magazine did not publish the article. A group of reporters and editors said they had faced managerial opposition to the story for weeks, and earlier this month Editor-in-Chief Bob Roe, Executive Editor Ken Li, and reporter Celeste Katz, who had all been investigating the magazine’s business ties, were unexpectedly fired. (The Daily Beast)

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Media and Entertainment

Newsweek Staffers Threaten to Resign, Claiming Company Tried to Silence Investigation of Owners
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Several Newsweek staffers threatened to resign earlier this week, accusing the company of attempting to muzzle the publishing of a story further detailing internal turmoil at the magazine and ties to a controversial Christian college. On Tuesday evening, Newsweek published a story about previously unreported ties between Newsweek Media Group (which also owns International Business Times) and Olivet University’s efforts to develop a campus in upstate New York.

Why Is The Manhattan DA Looking At Newsweek’s Ties To A Christian University?
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Social Media and Technology

Russian Trolls Tweeted Disinformation Long Before U.S. Election
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PR and Marketing

Grocery chain Albertsons to acquire Rite Aid
Lauren Hirsch and Lauren Thomas, CNBC

Grocery chain Albertsons announced plans Tuesday to acquire Rite Aid in a cash and stock deal, as the traditional grocery industry continues to look for growth by broadening offerings, not just store base. A combined Albertsons and Rite Aid would have a value of roughly $24 billion, including debt.

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Angelica LaVito, CNBC

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Gap brand CEO Jeff Kirwan to leave retailer, shares fall
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Opinions, Editorials, Perspectives and Research

Rite Aid Was Albertsons’s Last Best Hope
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We will soon have a pharmacy/insurer combination. We may yet get a pharmacy/drug-wholesaler merger.

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