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 ]
News tagged with: #york trading #vice chairman #second-largest shareholder

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Omidyar, other billionaires with Hawaii ties, on Forbes list of richest Americans: Slideshow

Pierre Omidyar, founder of eBay and Honolulu Civil Beat, was the only full-time Hawaii resident to make Forbes magazine’s l ist of the 400 richest Americans. But part-time isle residents such as Larry Ellison, Michael Dell and Oprah Winfrey — and soon-to-be landowner Mark Zuckerberg — also made... Continue reading at Silicon Valley Business Journal

[ Silicon Valley Business Journal | 2014-09-30 00:00:00 UTC ]
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Authors will fire back at Amazon with calls for a government investigation

If you've been following the protracted war between Amazon and Hachette, you know that Amazon's been stymieing sales of certain books by making it impossible to pre-order them, and pushing back delivery of others all over a ebook contract dispute.... Continue reading at Engadget

[ Engadget | 2014-09-29 00:00:00 UTC ]
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Big names give backing to Books Are My Bag

Celebrities and authors including Graham Norton and Ross Kemp have thrown their weight behind the... Continue reading at The Bookseller

[ The Bookseller | 2014-09-25 00:00:00 UTC ]
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If this were the '90s, Apple's latest acquisition would be a Kinko's

Want to make a digital magazine but Apple's iBook Author app just doesn't offer what you want? Then perhaps Cupertino's latest buy could signal a coming change that'll help you out. The iPhone company has purchased Prss, the digital publishing outfit... Continue reading at Engadget

[ Engadget | 2014-09-24 00:00:00 UTC ]
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The latest message for female writers dont think, just spill | Hadley Freeman

Not That Kind of Girl is a reminder of the publishing obsession with women divulging their private livesA week or so ago, I went to LA to interview a ridiculously talented young woman. Despite being only in her 20s, she has achieved the kind of success that most people multiple times her age... Continue reading at The Guardian

[ The Guardian | 2014-09-19 00:00:00 UTC ]
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PA manifesto backs market inquiry

A government-initiated inquiry into the online-physical and ebook sectors in the UK, a digital... Continue reading at The Bookseller

[ The Bookseller | 2014-09-18 00:00:00 UTC ]
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10 Great Back To School Graphic Novels

It's September which means school is back in session. Here are 10 books that take place at schools or primarily involve the lives of teachers and students. Continue reading at Publishers Weekly

[ Publishers Weekly | 2014-09-17 00:00:00 UTC ]
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Oyster Looks Back at a Year of E-book Subscription

A year after its launch, ebook subscription service Oyster, has added tens of thousands of titles, scores of new publishers and appears to be attracting more subscribers. Continue reading at Publishers Weekly

[ Publishers Weekly | 2014-09-15 00:00:00 UTC ]
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USA Today Said to Cut as Many as 70 Jobs Ahead of Gannett Split

USA Today, which is being spun off from Gannett Co. along with the rest of the company's publishing business, fired as many as 70 employees today across all departments, according to a person familiar with the newspaper's plans.About half of the jobs were in the newsroom and accounted for about... Continue reading at Advertising Age

[ Advertising Age | 2014-09-04 00:00:00 UTC ]
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Publishers urge European Commission to reject Google antitrust deal

European periodical and online publishers have urged the European Commission to reject Google’s latest proposal to settle an antitrust case.The commitments proposed by Google would not stop the company’s “abusive promotion of its own services,” the publishers said in their response, sent to the... Continue reading at PC World

[ PC World | 2014-09-04 00:00:00 UTC ]
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Gallimard's Amis rejection 'for literary reasons'

Gallimard rejected Martin Amis’ latest novel The Zone of Interest not because of the... Continue reading at The Bookseller

[ The Bookseller | 2014-09-01 00:00:00 UTC ]
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How Amazon's bid to bury Hachette has backfired

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[ The Guardian | 2014-08-24 00:00:00 UTC ]
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New film deal for Moyes' latest

Jojo Moyes' chart-topping novel The One Plus One (Penguin) has been optioned by Hollwood film... Continue reading at The Bookseller

[ The Bookseller | 2014-08-21 00:00:00 UTC ]
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Latest Conde Shakeup: Vanity Fair Publisher Takes Over Corporate Media Group

Conde Nast has promoted Vanity Fair VP-Publisher Edward Menicheschi to CMO-president of the Conde Nast Media Group, which sells ad programs spanning the company's brands, effective immediately. Mr. Menicheschi succeeds Lou Cona, who is leaving the company.Mr. Menicheschi was named publisher of... Continue reading at Advertising Age

[ Advertising Age | 2014-08-21 00:00:00 UTC ]
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Judge Orders Mediation in Latest E-book Price-Fixing Suit

The litigation represents the latest legal front for Apple and the publishers stemming from the 2010 agency switch. Continue reading at Publishers Weekly

[ Publishers Weekly | 2014-08-15 00:00:00 UTC ]
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Orwell estate hits back at Amazon's corporate 'doublespeak'

Internet retailer accused of using tactics from Orwell's 1984 in war of words with the publisher HachetteRepresentatives of George Orwell have described Amazon's selective quoting of the Nineteen Eighty-Four author as "dystopian and shameless" and "as close as one can get to the Ministry of... Continue reading at The Guardian

[ The Guardian | 2014-08-14 00:00:00 UTC ]
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Child hits back at indie authors in Amazon debate

Author Lee Child has come out swinging in the manner of Jack Reacher on The Passive Voice website... Continue reading at The Bookseller

[ The Bookseller | 2014-08-14 00:00:00 UTC ]
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Weintraub Back to SMP Publicity

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[ Publishers Weekly | 2014-08-11 00:00:00 UTC ]
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Gannett introduces digital-centric job titles for its staff journalists

Will Newsquest adopt the same editorial titles (with different pay rates)?Gannett, the largest US newspaper publisher, has created new job titles for editorial staff along with revised descriptions of their duties, as Jim Romenesko reveals.He cites a series of job titles now on offer at one of... Continue reading at The Guardian

[ The Guardian | 2014-08-11 00:00:00 UTC ]
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