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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Barnes & Noble says holiday sales disappointing, Nook has new investor

Bookstore chain Barnes & Noble said Friday its holiday sales look disappointing and that publisher Pearson Plc took a 5% stake in its Nook e-reader business. Continue reading at Los Angeles Times

[ Los Angeles Times | 2012-12-28 00:00:00 UTC ]
More news stories like this | News stories tagged with: #barnes noble #holiday sales #5% stake

News Corp. Says Publishing Unit Lost Money

The media conglomerate, which plans to separate its entertainment businesses from its publishing businesses into two separate listed stocks next year, said the publishing company would have reported a net loss of $2.08 billion in the year through June 30 if it had been a stand-alone company. Continue reading at AllThingsD

[ AllThingsD | 2012-12-21 00:00:00 UTC ]
More news stories like this | News stories tagged with: #media conglomerate #entertainment businesses #publishing businesses #net loss

Bookstore, Electronics Chains to Sell Kindles in Brazil

Amazon closed a deal in Brazil with Bookstore chain Livraria da Vila to sell Kindles through the remainder of 2012 until January 2013. Continue reading at Publishing Perspectives

[ Publishing Perspectives | 2012-12-19 00:00:00 UTC ]
More news stories like this | News stories tagged with: #sell kindles

USA’s Top-Selling Print Books of 2012 from Nielsen

It comes as no surprise that Nielsen BookScan's top-selling print book lists for 2012 are dominated by Fifty Shades and the Hunger Games. See what else is on the lists. Continue reading at Publishing Perspectives

[ Publishing Perspectives | 2012-12-15 00:00:00 UTC ]
More news stories like this | News stories tagged with: #nielsen bookscan #fifty shades #hunger games

Google Play Now Selling Books and Movies in Russia

A week after Apple opened the Russian iTunes Store, users can now download books and movies from the Russian Google Play Store. Continue reading at Publishing Perspectives

[ Publishing Perspectives | 2012-12-13 00:00:00 UTC ]
More news stories like this | News stories tagged with: #google play #selling books #download books

Amazon’s Plan: “Sell Millions of Kindles in Brazil,” says Naggar

Through exclusive interviews with Amazon's David Naggar, author Paolo Coelho, and others, we get behind the scenes of Amazon's Kindle Store launch in Brazil this week. Continue reading at Publishing Perspectives

[ Publishing Perspectives | 2012-12-07 00:00:00 UTC ]
More news stories like this | News stories tagged with: #david naggar #sell millions #exclusive interviews

Booksellers wait on Supreme Court decision: Could selling a used book become illegal?

A ruling on John Wiley & Sons Inc. v. Kirtsaeng – a case expected to come before the Supreme Court early next year – could make it illegal for non-profits and businesses to resell copyrighted works produced abroad. Continue reading at The Christian Science Monitor

[ The Christian Science Monitor | 2012-12-05 00:00:00 UTC ]
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Foyles and The Bookseller Unite to Crowdsource a ‘21st Century’ Bookstore

British bookshop Foyles and The Bookseller have partnered to help crowdsource ideas for making Foyles's new flagship store fit for the 21st Century. Continue reading at Publishing Perspectives

[ Publishing Perspectives | 2012-12-04 00:00:00 UTC ]
More news stories like this | News stories tagged with: #21st century

Bloomberg's Licencing Chief on How to Sell Your Content to Other Publishers and Partners

If you've got content you think other publishers want to buy, what do you need to do to to make it an attractive proposition? A good example of a successful licencing operations is Bloomberg, which provides content to more than 600 publish ... Continue reading at Editor & Publisher

[ Editor & Publisher | 2012-11-30 00:00:00 UTC ]
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McGraw-Hill Education Sold for $2.5 Billion to Investor

McGraw-Hill has signed an agreement to sell its education business, McGraw-Hill Education, to investment firm Apollo Global Management for $2.5 billion. Continue reading at Publishing Perspectives

[ Publishing Perspectives | 2012-11-29 00:00:00 UTC ]
More news stories like this | News stories tagged with: #mcgraw-hill education #education business

Barnes & Noble reports Q2 2013 earnings: digital content sales up 38%, Nook unit rakes $160 million

Barnes & Noble's Nook unit didn't have its greatest quarter. The $160 million in revenue the new Microsoft-backed spin off raked in was slightly better than last year's $152 million, but still a significant drop from $220 million. In a sign of the growing ubiquity of e-readers however,... Continue reading at Engadget

[ Engadget | 2012-11-29 00:00:00 UTC ]
More news stories like this | News stories tagged with: #losing money #bottom line #time period #black friday #cyber monday

DC selling digital comics through Apple, Amazon, Barnes & Noble

In a move that could provide a boost to the small but growing digital comic book business, DC Comics has signed deals to sell comics through online stores owned by Apple, Amazon and Barnes & Noble. Continue reading at Los Angeles Times

[ Los Angeles Times | 2012-11-08 00:00:00 UTC ]
More news stories like this | News stories tagged with: #barnes noble #dc comics #signed deals

Gannett Unit To Produce Ads For The World Co.

Gannett Publishing Services has entered an agreement with The World Co. to produce print and digital ads for the family-owned Kansas media company through the Gannett Imaging and Ad Design Center, the company announced this week. The Des Moines, Iow ... Continue reading at Editor & Publisher

[ Editor & Publisher | 2012-11-06 00:00:00 UTC ]
More news stories like this | News stories tagged with: #produce print #digital ads #company announced #des moines

News Corp. Unit Interested in Penguin Group

Rupert Murdoch's News Corp. has expressed interest in buying book publisher Penguin Group, potentially undermining merger discussions between Penguin and Random House, people familiar with the situation said. Continue reading at AllThingsD

[ AllThingsD | 2012-10-29 00:00:00 UTC ]
More news stories like this | News stories tagged with: #penguin group #rupert murdoch #expressed interest #random house #people familiar

US Publishing Leaders Unite To Denounce Saudi Textbook Bigotry

Seven current and former heads of major American publishing houses have published a joint statement opposing hate speech in Saudi textbooks. Continue reading at Publishing Perspectives

[ Publishing Perspectives | 2012-10-19 00:00:00 UTC ]
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