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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Investcorp has put New York-based publisher SourceMedia up for sale, according to multiple sources. SourceMedia, which provides news, analysis and research in the b-to-b space through publications Continue reading at Folio Magazine
[ Folio Magazine | 2012-09-28 00:00:00 UTC ]
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United Agents is in the final stages of negotiations to acquire A P Watt. In a joint statement,... Continue reading at The Bookseller
[ The Bookseller | 2012-09-26 00:00:00 UTC ]
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Barnes & Noble has announced it is to launch two tablets simultaneously in the UK and the US... Continue reading at The Bookseller
[ The Bookseller | 2012-09-26 00:00:00 UTC ]
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Barnes & Noble has announced Dixons as another British retail partner to sell Nook devices.... Continue reading at The Bookseller
[ The Bookseller | 2012-09-25 00:00:00 UTC ]
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Barnes & Noble has announced Dixons as another British retail partner to sell Nook devices.... Continue reading at The Bookseller
[ The Bookseller | 2012-09-25 00:00:00 UTC ]
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Kobo has announced a partnership to sell its e-readers through Fnac stores in Portugal as it ups... Continue reading at The Bookseller
[ The Bookseller | 2012-09-24 00:00:00 UTC ]
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Blackwell's, Foyles and Argos will sell Barnes & Noble’s Nook in the UK from... Continue reading at The Bookseller
[ The Bookseller | 2012-08-30 00:00:00 UTC ]
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John Lewis has been named as the first retailer to sell Barnes & Noble’s Nook e-reader... Continue reading at The Bookseller
[ The Bookseller | 2012-08-28 00:00:00 UTC ]
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Swedish crime writer Camilla Läckberg has seen international success since releasing her 2003 debut, Ice Princess (published in 2010 by Pegasus), and to date her books have been translated into 33 languages. In France, her 2008 novel The Drowning was the top title. Earlier this year, Pegasus... Continue reading at Publishers Weekly
[ Publishers Weekly | 2012-08-17 00:00:00 UTC ]
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You've bought rope for that special someone, picked up a few sex toys and read those Fifty Shades of Grey books a time or three. You know who you are. Well, no need to skulk about at naughty shops or the hardware store as Fifty Shades of Consumption makes it further into the mainstream. Stuart... Continue reading at Crains New York
[ Crains New York | 2012-08-16 00:00:00 UTC ]
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For serial entrepreneur John Ossenmacher, cofounder, president, and CEO of ReDigi, which bills itself as “the world’s first pre-owned digital marketplace,” the copyright infringement case filed by Capitol Records in U.S. District Court in Manhattan at the start of the year to shut it down is... Continue reading at Publishers Weekly
[ Publishers Weekly | 2012-07-27 00:00:00 UTC ]
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In light of recent scandals, it's hard not to see this as a bit of image rehabilitation, but we'll do our best to take it at face value. News Corp is bringing its 18-month-old educational division to the fore by rebranding it Amplify and teaming up with AT&T to put tablets in the hands of... Continue reading at Engadget
[ Engadget | 2012-07-23 00:00:00 UTC ]
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When Erin Morgenstern’s first novel, The Night Circus, debuted last September, PW predicted in a starred review that this magical tale was destined for bestsellerdom. The hardcover went on to sell 167,000 copies through the outlets tracked by Nielsen BookScan, and the paperback, which was... Continue reading at Publishers Weekly
[ Publishers Weekly | 2012-07-20 00:00:00 UTC ]
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The lawyer, who now attends the New York University School of Law, will release a memoir in fall 2013. Continue reading at The Christian Science Monitor
[ The Christian Science Monitor | 2012-07-19 00:00:00 UTC ]
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Chen Guangcheng, whose nighttime escape and conflict with the Chinese government led to a diplomatic crisis for the United States last spring, is writing a memoir to be published next year. Continue reading at The New York Times
[ The New York Times | 2012-07-18 00:00:00 UTC ]
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Bookshops are being offered 40% commission on the sale of books simply by hanging a poster in... Continue reading at The Bookseller
[ The Bookseller | 2012-07-13 00:00:00 UTC ]
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Random House has reprinted its record-busting Fifty Shades trilogy a further three times... Continue reading at The Bookseller
[ The Bookseller | 2012-07-06 00:00:00 UTC ]
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Newspaper companies, of the type News Corp. might spin off, are trading at premiums to book value, suggesting investors still see value in the business. New York Times Co., McClatchy Co. and Gannett Co., three of the biggest newspaper companies, all ... Continue reading at Editor & Publisher
[ Editor & Publisher | 2012-06-27 00:00:00 UTC ]
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Carly Simon, the singer and songwriter who has had a rocky life and a storied career, has sold her autobiography to Random House for a sum in the seven figures, according to a person familiar with the deal. Ms. Simon, the author of several children's books, is writing the memoir herself. It's... Continue reading at Crains New York
[ Crains New York | 2012-06-02 00:00:00 UTC ]
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Publisher says monthly is not for sale or going out of businessThe publisher of the Urbanite, a free monthly magazine focused on Baltimore urban affairs, said Wednesday she was seeking an investor to help the publication expand its digital media offerings. Continue reading at Baltimore Sun
[ Baltimore Sun | 2012-05-24 00:00:00 UTC ]
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