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 ]
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Historian Elisabeth Griffith includes divisions alongside victories in this rich, intersectional account of the struggle for equality. Continue reading at The Washington Post
[ The Washington Post | 2022-08-12 10:00:50 UTC ]
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The digital media company’s founders, Jim VandeHei, Mike Allen and Roy Schwartz, will continue to run the company. Continue reading at The New York Times
[ The New York Times | 2022-08-08 14:16:30 UTC ]
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Educational publisher’s move into non-fungible tokens is intended to claw back some of the income lost to secondhand salesTextbook publisher Pearson plans to profit from secondhand sales by turning its titles into non-fungible tokens (NFTs), its chief executive has said.Educational books are... Continue reading at The Guardian
[ The Guardian | 2022-08-02 15:37:17 UTC ]
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The Biden administration is suing to block Penguin Random House from buying Simon & Schuster. A United States District Court will decide if the sale can proceed. Continue reading at The New York Times
[ The New York Times | 2022-07-31 11:19:44 UTC ]
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Despite a huge gain in adult fiction, print unit sales fell 2.5% in the week ended July 16, 2022, from the comparable week in 2021, at outlets that report to NPD BookScan. Continue reading at Publishers Weekly
[ Publishers Weekly | 2022-07-22 04:00:00 UTC ]
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The social-media success of #BookTok has prompted TikTok in England to open a 'TikTok Book Club' featuring a different title monthly. The post In the United Kingdom, TikTok Announces Its Own Book Club appeared first on Publishing Perspectives. Continue reading at Publishing Perspectives
[ Publishing Perspectives | 2022-07-21 00:24:33 UTC ]
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With all nonfiction categories posting double-digit declines, unit sales of print books fell 9.4% in the week ended June 25 from the comparable week last year. Continue reading at Publishers Weekly
[ Publishers Weekly | 2022-07-01 04:00:00 UTC ]
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Unit sales of print books fell about 5% in the week ended June 18, 2022, from the comparable week in 2021, at outlets that report to NPD BookScan. Continue reading at Publishers Weekly
[ Publishers Weekly | 2022-06-24 04:00:00 UTC ]
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Librarians are facing the ongoing stresses of the pandemic, the rise in book challenges and banning, and other obstacles through advocacy and collaboration. Continue reading at Publishers Weekly
[ Publishers Weekly | 2022-06-10 04:00:00 UTC ]
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A little more than six months after acquiring Baker & Taylor from the Follett Corp., new owner Amandeep Kochar sold Baker & Taylor UK to the Little Group, parent company of the U.K.'s largest wholesaler, Gardners. Continue reading at Publishers Weekly
[ Publishers Weekly | 2022-05-31 04:00:00 UTC ]
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She spent decades campaigning for social change, fighting to limit air pollution in New York City and to rethink conventional yardsticks for economic development. Continue reading at The Washington Post
[ The Washington Post | 2022-05-23 23:59:08 UTC ]
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“Our partners and supporters are critical in moving the needle to ultimately bring an end to book bans," said Deborah Caldwell-Stone, director of the ALA’s Office for Intellectual Freedom. “It’s time that policymakers understand the severity of this issue.” Continue reading at Publishers Weekly
[ Publishers Weekly | 2022-05-11 04:00:00 UTC ]
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With all categories except adult fiction posting declines, unit sales of print books fell 6.1% in the week ended Apr. 30, 2022, from the comparable week in 2021, at outlets that report to NPD BookScan. Continue reading at Publishers Weekly
[ Publishers Weekly | 2022-05-06 04:00:00 UTC ]
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The ‘fascinating insight into what was to become an iconic work’ is the only known surviving copy of its kind and is to be auctioned along with a first edition signed by RowlingA prepublication version of the first Harry Potter book by JK Rowling is expected to fetch at least £20,000 when it is... Continue reading at The Guardian
[ The Guardian | 2022-04-26 09:29:11 UTC ]
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'Overall, the US book market is turning in a very strong performance by historic norms,' says NPD BookScan's Kristen McLean. The post United States Book Market: A First Quarter’s Glide and NPD’s Viewpoint appeared first on Publishing Perspectives. Continue reading at Publishing Perspectives
[ Publishing Perspectives | 2022-04-15 15:51:56 UTC ]
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Newspaper publisher Lee Enterprises is facing renewed pressure from a hedge fund to speed up its transition to digital publishing and consider adding new digital-savvy leaders to its board Continue reading at ABC News
[ ABC News | 2022-04-14 21:27:45 UTC ]
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The British thriller writer's 85 books have sold more than a quarter of a billion copies. Continue reading at The Washington Post
[ The Washington Post | 2022-04-11 17:59:46 UTC ]
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With the sale, Captain America joined Superman and Spider-Man in having debut issues that topped $3 million at auction. Continue reading at The New York Times
[ The New York Times | 2022-04-08 13:21:14 UTC ]
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Traditional publishing houses put out classics from around the world, but independent presses bring attention to new original talent. Continue reading at Book Riot
[ Book Riot | 2022-03-31 10:36:00 UTC ]
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Unit sales of print books fell 8.3% in the week ended Mar. 12, 2022, from the comparable week in 2021, at outlets that report to NPD BookScan. Continue reading at Publishers Weekly
[ Publishers Weekly | 2022-03-18 04:00:00 UTC ]
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