Future of PR, Social ad spend, Westfield profit, American Apparel subpoena, Valuing interactive magazines

Screenshot of PR Consulting Twitter Feed | Source: PR Consulting

The Future of Public Relations and Social Media (Mashable)
“In the past decade, the Internet has had a huge impact on how PR professionals function. As of late, social media is changing the face of PR, as well. We interviewed 14 PR pros on the future of public relations and how they see social media changing the industry.”

Social network ad spending to exceed $2 billion in 2011 (Biz Report)
“The amount of money being spent on social network advertising continues to rise and eMarketer has recently revised its forecasts for this year and next in line with that growth. Facebook comes out on top.”

Westfield Returns to Profit (WSJ)
Westfield Group, the world’s largest owner of shopping malls by value, posted its first net profit in two years and said it has weathered the financial crisis, with signs of retail improvements in key markets.”

American Apparel Shares Fall as Woes Rise (Bloomberg)
American Apparel dropped in U.S. trading after saying it received a subpoena from the U.S. attorney’s office over changing accounting firms and that operating losses may result in its breach of a debt covenant.”

The Value of ‘Interactive Periodicals (WWD)
“Tablet-computer-ready periodicals could be a $3 billion business within the next four years. The bad news for magazine publishers (at least those betting on the iPad and its ilk as a one-stop white knight) is that $1.7 billion of those revenues already exist.”