Over the weekend, a massive merger agreement was hammered out between telecom giant AT&T and entertainment company Discovery Inc. If it receives the blessing of federal regulators, AT&T will spin off its WarnerMedia unit—which includes CNN, HBO, and other assets—into a separate company that it will co-own with Discovery. The usual descriptions followed: it was a merger made in heaven (Discovery chief executive David Zaslav said the two “fit together like a glove”), with numerous synergies, and would create what the New York Times called “a juggernaut.” As Paul Farhi, Washington Post media reporter, pointed out following the news, a number of deals over the past two decades were described in similar terms, including the merger of Time Warner and AOL in 2000, in a deal that was worth about $165 billion at the time. It was later unwound, with Time Warner taking a massive write-down and spinning off AOL as a separate company. Despite the hyperbole, a number of analysts and media industry experts believe the deal represents an admission of failure by AT&T. The company said it planned to buy WarnerMedia in 2016, and spent the next two years fighting with competition regulators for approval to do the deal. The acquisition was finally approved in 2018, and AT&T bought the company for $85 billion, which it heralded as the start of a new media and entertainment empire. The unwinding of the deal is “a major course correction,” Axios wrote about the new arrangement.... Continue reading at 'Columbia Journalism Review'
[ Columbia Journalism Review | 2021-05-18 12:05:33 UTC ]
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Puffin Books has snapped up the UK and Commonwealth rights to a previously unpublished Dr Suess book about art history. Continue reading at The Bookseller
[ The Bookseller | 2019-07-29 20:05:57 UTC ]
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Orion Fiction has signed the “unbelievably powerful” new novel by US author Sarah Jio, alongside eight of her previous books. Continue reading at The Bookseller
[ The Bookseller | 2019-07-23 20:37:54 UTC ]
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Quad and LSC Communications announced this morning that they have mutually agreed to call off the planned purchase of LSC by Quad following a DoJ lawsuit. Continue reading at Publishers Weekly
[ Publishers Weekly | 2019-07-23 04:00:00 UTC ]
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The aftershocks of AT&T’s acquisition of Time Warner continue to rumble through the WarnerMedia unit, as longtime ad sales chief Donna Speciale is parting ways with the company just one week after she closed out the last bit of its upfront business. Speciale, who joined WarnerMedia... Continue reading at Advertising Age
[ Advertising Age | 2019-07-11 01:55:08 UTC ]
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The U.S. Justice Department is suing to stop the proposed $1.4 billion deal between Quad/Graphics and LSC Communications on antitrust grounds. Continue reading at The New York Times
[ The New York Times | 2019-06-24 16:52:47 UTC ]
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Chris Roush Talking Biz News Founder Ready to Pass the Torch Talking Biz News founder Chris Roush announced on Wednesday that he's ready to move on from the site, which tracks job changes and other day-to-day news in the field of business journalism. "After 14 years of running Talking Biz... Continue reading at Folio Magazine
[ Folio Magazine | 2019-05-16 16:55:48 UTC ]
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From the day in 2016 when AT&T announced its $85.4-billion merger with Time Warner, through three years of antitrust wrangling over the deal, the big telecommunications company promised that it would mean lower prices and more choices for consumers. Now AT&T has a message for everyone... Continue reading at Los Angeles Times
[ Los Angeles Times | 2019-03-19 00:00:00 UTC ]
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A panel during a recent Book Industry Guild of New York meeting about merger and acquisitions brought several takeaways, among them a lowering in purchase price for the typical trade publisher. Continue reading at Publishers Weekly
[ Publishers Weekly | 2019-02-25 00:00:00 UTC ]
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Media mergers between BuzzFeed and other top digital publishers are exciting to think about. But don't bet on them happening anytime soon. The post Video Briefing: BuzzFeed layoffs prompt new talk of mergers appeared first on Digiday. Continue reading at Digiday
[ Digiday | 2019-01-30 00:00:00 UTC ]
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The German book market has been shaken up by a surprise merger between two major bookselling companies, announced this morning. Continue reading at The Bookseller
[ The Bookseller | 2019-01-11 00:00:00 UTC ]
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The past year saw only one megadeal in the publishing world—but plenty of strategic buys. Continue reading at Publishers Weekly
[ Publishers Weekly | 2018-12-21 00:00:00 UTC ]
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BuzzFeed CEO Jonah Peretti floated the idea of a merger between big digital publishing companies. Here's how a merger could -- but ultimately won't -- help. The post Video Briefing: The pros and cons of a digital media merger appeared first on Digiday. Continue reading at Digiday
[ Digiday | 2018-11-28 00:00:00 UTC ]
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BuzzFeed, Group Nine Media and other big digital publishers are floating the idea of merging to get better terms from Google and Facebook. It won't work. The post ‘Thinking along the wrong trajectory’: Digital media mergers won’t solve the duopoly problem appeared first on Digiday. Continue reading at Digiday
[ Digiday | 2018-11-20 00:00:00 UTC ]
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Faber is to publish "Mary Ventura and the Ninth Kingdom", a previously unpublished short story written by Sylvia Plath as a college assignment in 1952. Continue reading at The Bookseller
[ The Bookseller | 2018-10-30 00:00:00 UTC ]
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EnsembleIQ—the b2b media company formed two years ago out of the merger of three smaller publishers—is undergoing a reorganization this month, grouping its 20 media brands into four distinct market verticals and trimming its overall headcount by around 10 percent, according to multiple... Continue reading at Folio Magazine
[ Folio Magazine | 2018-10-26 00:00:00 UTC ]
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The three presses—and a fourth, the imprint Black Balloon—operate more like a confederation of presses than a publisher and its imprints. Here's a look behind the curtain. Continue reading at Publishers Weekly
[ Publishers Weekly | 2018-09-21 00:00:00 UTC ]
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Trade insiders say the proposed merger of the UK's second and third largest supermarkets, Sainsbury's and Walmart-owned ASDA, could limit the range of books on offer and put a squeeze on publishers for higher discounts. Continue reading at The Bookseller
[ The Bookseller | 2018-05-01 00:00:00 UTC ]
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AT&T Inc.’s top executive gave a vigorous defense of the proposed $85.4-billion deal to buy Time Warner, describing it as key to the company’s ability to compete with a new generation of high-tech competitors. “This world is changing fast,” said Randall Stephenson, who took the witness stand... Continue reading at Los Angeles Times
[ Los Angeles Times | 2018-04-20 00:00:00 UTC ]
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Publishers, still smarting from blows inflicted by Facebook and its ever-changing news feed, have found some comfort in the warm embrace of Google. The post The Rundown: Google AMP has short-term appeal but potential long-term costs appeared first on Digiday. Continue reading at Digiday
[ Digiday | 2018-04-12 00:00:00 UTC ]
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