AT&T bows to pressure from activist investor, may sell ailing DirecTV unit

Mere weeks after activist investor Elliott Management publicly pressed AT&T to slash costs and dial down its acquisitions strategy, it appears as if Chairman-CEO Randall Stephenson has knuckled under to those demands. Speaking today on AT&T’s third-quarter earnings call, Stephenson laid out a three-year plan that includes a pledge to conduct a comprehensive review of all non-essential businesses that may be be sold or spun off, while also making a commitment to retire all the debt related to its $85 billion acquisition of Time Warner. Stephenson also said that he plans to stay aboard through at least 2020. This is particularly important, as speculation that he was about to hand the reins to WarnerMedia boss John Stankey may have been one of the factors that precipitated Elliott’s decision to put the squeeze on the AT&T board. “I believe we’re on the threshold of something really remarkable, in terms of the next chapter of AT&T’s storied history,” Stephenson said. “I have every intention of being here, and I will be here through 2020.” Stephenson added that when the time comes for AT&T to choose his successor, the CEO and chairmanship positions will be made separate, a split for which Elliott advocated in its Sept. 9 letter to the board. Stankey, who recently was upped to chief operating officer at AT&T, remains the heir apparent. “Following five-plus years of heavy investment, it’s now time to reap the rewards of these investments and deliver... Continue reading at 'Advertising Age'

[ Advertising Age | 2019-10-28 20:32:03 UTC ]
News tagged with: #streaming services #investment fund #hbo max #unique position #time warner

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The ruthless Russian hacking unit that tried to crash Ukraine

We know what its 2020 election interference might look like, Andy Greenberg warns. Continue reading at The Washington Post

[ The Washington Post | 2019-12-26 21:42:02 UTC ]
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These are the 10 best-selling books of the decade.

According to NPD Bookscan—not perfect, as we all know, but the best the industry’s got—the best-selling book of the last decade in the United States was . . . well, I’m sure you guessed it before you ever clicked here. It was E. L. James publishing phenomenon Fifty Shades of Grey, which which... Continue reading at Literrary Hub

[ Literrary Hub | 2019-12-20 15:04:49 UTC ]
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Pearson Sells Last 25% of PRH to Bertelsmann

U.K.-based publisher Pearson is selling its last shares in Penguin Random House, representing 25% ownership of the company, to Germany's Bertelsmann, which will now have 100% ownership of the company. Continue reading at Publishers Weekly

[ Publishers Weekly | 2019-12-18 05:00:00 UTC ]
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Pearson sells remaining stake in PRH, Fallon to depart

Pearson is selling its remaining 25% stake in Penguin Random House to Bertelsmann, as its c.e.o. John Fallon prepares to retire next year. Continue reading at The Bookseller

[ The Bookseller | 2019-12-18 01:20:40 UTC ]
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Most Investors Don’t Want to Touch Media Anymore. But Axios is Going to Raise Another $20 Million.

A few years ago, investors were eager to throw money at digital media startups. Not anymore. But there are some Continue reading at Editor & Publisher

[ Editor & Publisher | 2019-12-16 15:51:10 UTC ]
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#Merky Books snaps up youth activist Jeremiah Emmanuel's memoir

#Merky Books will publish the memoir of youth activist Jeremiah Emmanuel, “a guide to overcoming the obstacles young people should not have to face”. Continue reading at The Bookseller

[ The Bookseller | 2019-12-15 13:08:54 UTC ]
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How Do You Sell Content to an Audience That Controls the Narrative?

Now more than ever, the publishing industry finds itself on a quest for more effective ways to make money. For the past few years, the industry has been working through a regular cycle of taglines and keywords: ‘metered models,’ ‘memberships,’ ‘registration paywalls,’ dynamic paywalls,’ and so... Continue reading at Publishing Executive

[ Publishing Executive | 2019-12-11 16:35:15 UTC ]
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The Makings of Grace Paley: Writer, Activist, Feminist

Though Grace Paley never stopped writing, and the publication of her first book demonstrated that she was in fact “a writer,” her energy turned increasingly to political activity after 1960. Her desire to remain outside the literary world was abetted by her interest in the growing peace... Continue reading at Literrary Hub

[ Literrary Hub | 2019-12-11 09:48:14 UTC ]
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Michael Joseph pre-empts Klass' climate activist thriller

Michael Joseph has joined sister companies in the US and Germany in pre-empting an “astonishingly of-the-moment” thriller about a climate activist, Out of Time by author and Hollywood screenwriter David Klass. Rights to adapt the title have also been sold to Netflix. Continue reading at The Bookseller

[ The Bookseller | 2019-12-09 00:28:37 UTC ]
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Little Island sells Grehan novel to Houghton Mifflin Harcourt

Irish press Little Island Books has sold North American rights to Houghton Mifflin Harcourt for Meg Grehan’s The Deepest Breath. Continue reading at The Bookseller

[ The Bookseller | 2019-12-06 02:34:16 UTC ]
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Cosmetics Giant Coty Confirms Overhaul of Digital Unit Beamly

Coty, the owner of a host of household names including Covergirl, Gucci and Sassoon Professional, has confirmed it is conducting an overhaul of Beamly, an ad-tech and digital media operation it purchased in 2015, which could involve the effective shuttering of the unit. The developments have... Continue reading at AdWeek

[ AdWeek | 2019-12-03 22:30:01 UTC ]
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Springer Nature sells publishing services division SPS

Springer Nature is selling its publishing services enterprise SPS to content technology and solutions business SPi Global, in a deal expected to conclude by the end of the year. Continue reading at The Bookseller

[ The Bookseller | 2019-12-02 21:47:54 UTC ]
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Nicklin sells Dulwich Books to its current manager

The MILD Group, run by Susie Nicklin, has sold South London indie Dulwich Books to store manager Cathy Slater. Continue reading at The Bookseller

[ The Bookseller | 2019-11-28 04:16:35 UTC ]
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Bloomsbury to sell Whitaker’s Almanack

Bloomsbury is selling reference guide Whitaker’s assets, including the current edition, the online database, and backlist editions dating back to 1869. Continue reading at The Bookseller

[ The Bookseller | 2019-11-19 07:38:43 UTC ]
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Bernardine Evaristo’s Girl, Woman, Other sells in 21 deals with TV auction underway

Following Bernardine Evaristo’s historic Booker Prize win, translation rights to her novel Girl, Woman, Other (Hamish Hamilton) have been snapped up in 21 territories. Continue reading at The Bookseller

[ The Bookseller | 2019-11-19 06:13:51 UTC ]
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Print Units Post Solid Sales Gain in Early November

With both juvenile categories posting double-digit increases and a strong gain in adult nonfiction, unit sales of print books rose 5.9% in the week ended Nov. 9, 2019, over the comparable week in 2018 at outlets that report to NPD BookScan. Continue reading at Publishers Weekly

[ Publishers Weekly | 2019-11-15 05:00:00 UTC ]
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Tickets for Elton John Waterstones book signing sell out in 10 seconds

Tickets for Elton John's book signing at Waterstones Piccadilly sold out in less than 10 seconds when they went on sale yesterday. Continue reading at The Bookseller

[ The Bookseller | 2019-11-13 19:30:23 UTC ]
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Amazon offers teachers a place to sell resources they create

Amazon has opened a storefront and publishing platform for people to buy and sell K-12 educational materials. People who create such resources can upload them for others to purchase. Continue reading at Engadget

[ Engadget | 2019-11-12 15:32:00 UTC ]
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US trade urges Daunt to be independent in spirit to revive ailing Barnes & Noble

After Elliott Advisors’ takeover of Barnes & Noble in August, the firm sought the man who turned Waterstones around to right its US acquisition. But what exactly is in James Daunt’s in-tray in New York? Continue reading at The Bookseller

[ The Bookseller | 2019-11-08 05:47:49 UTC ]
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