Backed by Billionaire, Tribune Rejects Gannett's Latest Bid

Tribune Publishing, infused with a $70.5 million investment from billionaire Patrick Soon-Shiong, rejected Gannett's latest takeover offer, escalating the battle between the newspaper publishers.Gannett's revised proposal is "clearly inadequate" to control the owner of the Los Angeles Times and the Chicago Tribune, Chief Executive Officer Justin Dearborn said in a statement Monday. The $15-a-share proposal from the publisher of USA Today was 22% more than its original bid of $12.25 offered publicly on April 25. Tribune sank in New York trading.In rebuffing Gannett a second time, Tribune is issuing 4.7 million common shares to Soon-Shiong's Nant Capital at $15 apiece, according to a separate statement Monday. Following the deal, Soon-Shiong will become vice chairman on the board and Nant Capital will have a 12.9% stake, making it Tribune's second-largest shareholder. That would put it ahead of Oaktree Capital Management, which called last week for a board committee free of top shareholder Michael Ferro's influence to consider Gannett's offer. The moves are the most aggressive yet by Ferro to fend off Gannett. Continue reading at AdAge.com Continue reading at 'Advertising Age'

[ Advertising Age | 2016-05-24 00:00:00 UTC ]
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Reading Agency literacy programme backed by McNab and Parks

The Reading Agency is relaunching its Reading Ahead literacy programme on 1st February with a new digital platform, and support from authors including Andy McNab, Adele Parks and Martina Cole. Continue reading at The Bookseller

[ The Bookseller | 2021-01-29 07:05:59 UTC ]
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Nosy Crow flies into its second decade on the back of impressive 2020 growth

Just 10 years on from the children's indie's inception, the list has stonking TCM sales and a flurry of awards to its name. Its three co-founders reveal the key to its success. Continue reading at The Bookseller

[ The Bookseller | 2021-01-28 19:35:06 UTC ]
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Books Are Back in the White House — And One of Them Is by Angie Thomas

The best-selling author just found out that her debut novel is soon to be on the first lady’s bedside table. Continue reading at The New York Times

[ The New York Times | 2021-01-28 10:00:04 UTC ]
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Bright moves back into books with Midas

Hannah Bright is returning to the publishing industry, joining the Midas books team as senior accounts manager from mid February. Continue reading at The Bookseller

[ The Bookseller | 2021-01-26 01:26:23 UTC ]
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Taking back control

Reedsy.com describes indie publishing as “…any form of publishing that doesn’t rely on the Big 5 publishing houses.” I have produced work with three such companies. I left them unsatisfied. I didn’t like the royalty payouts, or lack of. I didn’t like their “go to market” strategies. I didn’t... Continue reading at The Bookseller

[ The Bookseller | 2021-01-22 11:59:04 UTC ]
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The remarkable bounce back of New Zealand's magazines

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[ The Guardian | 2021-01-16 19:00:40 UTC ]
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Hedge fund Alden offers to buy Tribune, valuing it at $521M

Hedge fund Alden, Tribune’s largest shareholder, has offered to buy the rest of the newspaper publisher at a price that values it at $520.6 million Continue reading at ABC News

[ ABC News | 2020-12-31 15:47:06 UTC ]
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In his memoir, Georgetown’s John Thompson doesn’t hold back

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[ The Washington Post | 2020-12-24 13:00:00 UTC ]
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Back of the net

The age-old issue around what can be done to encourage boys to read has been brought into sharper focus over recent weeks with the announcement that Marcus Rashford, supported by MacMillan, is launching a book club. Continue reading at The Bookseller

[ The Bookseller | 2020-12-20 22:26:17 UTC ]
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Their Publishing Imprint Closed. Now They’re Bringing It Back.

In a literary landscape dominated by the biggest players, Cindy Spiegel and Julie Grau are among the executives rejecting the corporate publishing model and instead starting their own companies. Continue reading at The New York Times

[ The New York Times | 2020-12-18 10:00:29 UTC ]
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Child brings back Clarice Bean for 'Christmas classic' with HCCB

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[ The Bookseller | 2020-12-17 02:21:05 UTC ]
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National TV Ad Sales Shrank 11% This Year, But Are Bouncing Back

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[ AdWeek | 2020-12-07 02:00:00 UTC ]
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Commentary: The latest publishing mega-merger might kill off small presses — and literary diversity

The planned merger of Penguin Random House and Simon & Schuster may be global but it's bad for books both foreign and domestic. Continue reading at Los Angeles Times

[ Los Angeles Times | 2020-12-04 19:25:12 UTC ]
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NYC radical bookstore Bluestockings is back—and they need your help.

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[ Literrary Hub | 2020-12-03 16:23:15 UTC ]
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Lilliam Rivera’s Orpheus and Eurydice Remix: Talking about Never Look(ing) Back, by Bayleigh Acosta

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[ World Literature Today | 2020-12-02 22:19:21 UTC ]
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Two Roads unveils Hogan's latest novel, based on famous clairvoyant

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[ The Bookseller | 2020-12-02 16:42:42 UTC ]
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Publishers Would Back a Reinvented BookExpo

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[ Publishers Weekly | 2020-12-02 05:00:00 UTC ]
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Scotland's National Book Awards postponed to 2021 after funding bid fails

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[ The Bookseller | 2020-11-23 04:05:52 UTC ]
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Ex-PMs unite in Australia in bid to curb power of Murdoch empire

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[ The Guardian | 2020-11-22 07:30:15 UTC ]
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