BlackBerry has abandoned plans to sell itself and has instead found about $1 billion in new funds that it will use to try to turn its business around. The company is also planning far–reaching changes to management and will remove both its CEO Thorsten Heins and some directors. Heins is replaced by former CEO of Sybase John Chen. Related Should BlackBerry Lay Off Creative Director Alicia Keys? The new decision from BlackBerry follows the end of a buyout deal by financial firm Fairfax Financial Holdings earlier in the summer. The deal was said to be in the range of $4.7 billion, and Fairfax had until today to study BlackBerry's books and make an offer. Whatever Fairfax found in the company's finances and its business model for the future is unknown, but it is now irrelevant because BlackBerry has changed course. Even during the period when Fairfax was courting BlackBerry, a number of other big–name buyers were said to be interested in the formerly giant smartphone maker. Fairfax is now merely one of the lead investors. BlackBerry is selling a new form of convertible stock to the new group of investors, raising extra capital with which it can retool and restaff to point the company in a new direction. The maneuver suggests that, despite losing significant staff and nearly all its standing in the marketplace, the company's management feels it can survive as a going concern. Continue reading at 'Fast Company'
[ Fast Company | 2013-11-04 00:00:00 UTC ]
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BlackBerry has abandoned plans to sell itself and has instead found about $1 billion in new funds that it will use to try to turn its business around. The company is also planning far–reaching changes to management and will remove both its CEO Thorsten Heins and some directors. Heins is replaced... Continue reading at Fast Company
[ Fast Company | 2013-11-04 00:00:00 UTC ]
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“The answer to the duopoly for media owners is not to adopt a defensive stance and assume the situation is a permanent obstacle to growth, and we’re in permanent crisis, but to innovate." The post Bloomberg Media CEO Justin Smith: Publishers need to stop playing defense appeared first on Digiday. Continue reading at Digiday
[ Digiday | 2017-12-18 00:00:00 UTC ]
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'Brian Napack helms the AAP board, saying, 'A vibrant, independent publishing industry plays an essential role in our democracy.' The post AAP Officers: Wiley CEO Brian Napack Is Chair, Hachette CEO Pietsch is Vice-Chair appeared first on Publishing Perspectives. Continue reading at Publishing Perspectives
[ Publishing Perspectives | 2021-01-27 23:29:51 UTC ]
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SERIES Movie Night With Karlie Kloss The supermodel and her celebrity guests watch flicks, play games and gab in this new series. First up, 2002’s “Harry Potter and the Chamber of Secrets.” 6:30 p.m. Freeform The Perfect Suspect The debut installment of this true-crime series tells the tale of... Continue reading at Los Angeles Times
[ Los Angeles Times | 2017-12-28 00:00:00 UTC ]
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In China we have a saying that reading a banned book on a snowy night is one of the true joys of life. From this, one can well imagine the kind of satisfaction that reading a banned book may bring—like candy locked up in a cabinet, it releases a sweet fragrance into solitary spaces. Whenever […] Continue reading at Literrary Hub
[ Literrary Hub | 2024-04-23 08:56:19 UTC ]
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Five more publishers, including the remaining Big Five publishers, have now joined as plaintiffs to help defend against the state’s bid to lift the block on appeal on Iowa's book banning law, SF 496. Continue reading at Publishers Weekly
[ Publishers Weekly | 2024-04-16 04:00:00 UTC ]
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The owner and operator of Tattered Cover bookstores, has filed a motion with the U.S. Bankruptcy Court to reschedule a hearing on its reorganization plan in order to allow the owners to entertain and review offers to purchase the business. Continue reading at Publishers Weekly
[ Publishers Weekly | 2024-04-01 04:00:00 UTC ]
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Metro Detroit billionaire businessman Manoj Bhargava faces a lawsuit tied to his ongoing takeover bid of the former publisher of Sports Illustrated magazine.The lawsuit, filed last week in California in a Los Angeles County court, is brought by Ross Levinsohn, a veteran media executive and the... Continue reading at Crains New York
[ Crains New York | 2024-03-28 20:07:35 UTC ]
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RBmedia has appointed Michael Paull, former president of Disney's direct-to-consumer business, as its new chief executive officer, following what the company called “another year of record-breaking growth” in 2023. Continue reading at Publishers Weekly
[ Publishers Weekly | 2024-03-20 04:00:00 UTC ]
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Gerald Levin, who led Time Warner Media into a disastrous $182 billion merger with the internet provider America Online, has died at the age of 84 Continue reading at ABC News
[ ABC News | 2024-03-15 09:02:35 UTC ]
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Arroyo, who founded CamCat in 2018 and published more than 100 titles, died on February 26 after a fall. Editorial director Helga Schier said that no decisions will be made about CamCat's leadership until Arroyo's estate is settled. Continue reading at Publishers Weekly
[ Publishers Weekly | 2024-03-13 04:00:00 UTC ]
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The measurement industry is at an inflection point. In 2021, measurement giant Nielsen lost its third-party accreditation from the Media Rating Council after the company admitted to undercounting audiences, which could've translated to hundreds of millions of dollars in... Continue reading at AdWeek
[ AdWeek | 2024-03-12 10:00:00 UTC ]
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The Phnom Penh Post, a newspaper founded in 1992 as Cambodia sought to re-establish stability and democracy after decades of war and unrest, says it will stop publishing a print edition this month, the latest blow to the country’s dwindling independent... Continue reading at ABC News
[ ABC News | 2024-03-01 11:58:31 UTC ]
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An independent publisher considers the challenges and opportunities for small presses in her home market. Continue reading at Publishers Weekly
[ Publishers Weekly | 2024-02-23 05:00:00 UTC ]
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An independent publisher considers the challenges and opportunities for small presses in her home market. Continue reading at Publishers Weekly
[ Publishers Weekly | 2024-02-23 05:00:00 UTC ]
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Vroman’s is a community landmark in Pasadena, Calif. Now, its longtime owner says he’s ready to turn over the reins. Continue reading at The New York Times
[ The New York Times | 2024-02-08 14:22:44 UTC ]
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The CEOs of Meta, Snap, Discord, X and TikTok testified at a high-stakes Senate Judiciary Committee hearing on child exploitation online. During the hearing, Mark Zuckerberg, Evan Spiegel, Jason Citron, Linda Yaccarino and Shou Chew spent nearly four hours being grilled by lawmakers about their... Continue reading at Engadget
[ Engadget | 2024-02-01 13:31:01 UTC ]
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The football broadcaster and podcast mogul keeps tweeting about the Israel-Gaza war, despite arguing with friends and getting into hot water with the BBC. What drives him?Gary Lineker has asked me to meet him at his house in Barnes at 2.30pm. It’s a miserable wet day in London, so I give myself... Continue reading at The Guardian
[ The Guardian | 2024-01-20 07:00:52 UTC ]
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Public libraries need to prepare for what's happening at school libraries to happen to them. That, plus this week's book censorship news. Continue reading at Book Riot
[ Book Riot | 2024-01-12 11:40:00 UTC ]
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