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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Improving psychological safety, clarity around corporate strategy, and more attention on professional development are the three areas of focus Penguin Random House will prioritize over the two years, according to a memo from global CEO Nihar Malaviya. Continue reading at Publishers Weekly
[ Publishers Weekly | 2024-01-10 05:00:00 UTC ]
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Madan, a former chair of Berrett-Koehler's board of directors, comes to the publisher from Kepler's Books in Menlo Park, Calif., where he has been CEO since 2012, and where he cofounded the bookselling initiative Reimagining Bookstores. Continue reading at Publishers Weekly
[ Publishers Weekly | 2024-01-04 05:00:00 UTC ]
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Social publisher NowThis, which often sees its trending news and entertainment videos go viral on social platforms, hired media veteran Sharon Mussalli as CEO--its first since the title was spun off from Vox Media in April. The newly independent publisher is now owned by... Continue reading at AdWeek
[ AdWeek | 2023-12-19 09:31:39 UTC ]
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PRH global CEO Nihar Malaviya thanked employees in a memo for their efforts during a year which saw sales rise over 2022 despite the host of internal challenges the world's largest trade publisher faced in 2023. Continue reading at Publishers Weekly
[ Publishers Weekly | 2023-12-14 05:00:00 UTC ]
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A recent study assesses school library staffing realities, shedding light on difficult decisions facing administrators. Continue reading at Publishers Weekly
[ Publishers Weekly | 2023-12-08 05:00:00 UTC ]
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Bill Reeves, previously an agent and an executive producer in the Christian entertainment industry, has been named CEO of Christian publisher David C Cook. Continue reading at Publishers Weekly
[ Publishers Weekly | 2023-12-05 05:00:00 UTC ]
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Media mogul was accompanied by Fox News’ Benjamin Hall, who was injured while covering the war, and Jerome Starkey from UK tabloid the SunThe Fox Corp chief executive, Lachlan Murdoch, has met with Volodymyr Zelenskiy in the Ukrainian capital in what Kyiv said was a “very important signal” of... Continue reading at The Guardian
[ The Guardian | 2023-11-21 01:11:04 UTC ]
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The head of Hachette Book Group, Michael Pietsch, is retiring as CEO and will be succeeded by Hachette UK CEO David Shelley Continue reading at ABC News
[ ABC News | 2023-11-14 20:46:13 UTC ]
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The Atlantic’s books editor prescribes these titles as antidotes to the quick and dirty ways people are communicating on social media. Continue reading at The Atlantic
[ The Atlantic | 2023-10-27 15:00:00 UTC ]
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Ek blames Apple for holding back his company’s first foray into audiobooks and confirms his company is in talks with Google about in-app purchases. Spotify is doubling down on audiobooks: Paying subscribers of the music service will now have access to up to 15 hours of audiobook listening as... Continue reading at Fast Company
[ Fast Company | 2023-10-03 16:30:00 UTC ]
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Praising a strategy for letting PRH publishers work 'more creatively and entrepreneurially,' Bertelsmann's Thomas Rabe announces Nihar Malaviya the company's permanent worldwide CEO. The post Nihar Malaviya Made Permanent PRH CEO by Bertelsmann appeared first on Publishing Perspectives. Continue reading at Publishing Perspectives
[ Publishing Perspectives | 2023-09-19 05:41:40 UTC ]
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Reisman has returned as CEO of Indigo Books & Music, not long after CEO Peter Ruis resigned and Reisman officially retired. Newly elected board member Markus Dohle has taken the role of company chair. The company is also preparing to open a new concept store in Toronto. Continue reading at Publishers Weekly
[ Publishers Weekly | 2023-09-19 04:00:00 UTC ]
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After a brief retirement, Heather Reisman has been reinstated as CEO of Indigo, the book retailer she founded almost 30 years ago. Continue reading at CBC
[ CBC | 2023-09-18 12:50:39 UTC ]
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Malaviya, who was named interim head of the global operations of Penguin Random House following the departure of Markus Dohle at the end of 2022, has officially been named CEO of the world's largest trade publisher. Continue reading at Publishers Weekly
[ Publishers Weekly | 2023-09-18 04:00:00 UTC ]
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Drag performers who read stories to children at libraries across Canada have faced an increase in protests calling the events destructive for kids, and in some cases, even threats of violence. But the king and queens say they won't let that stop them, because storytimes are about joy and literacy. Continue reading at CBC
[ CBC | 2023-09-16 08:00:00 UTC ]
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Nielsen named Karthik Rao, who headed Nielsen Audience Measurement, as CEO of the entire company, succeeding David Kenny, who will become executive chairman. Continue reading at Advertising Age
[ Advertising Age | 2023-09-14 13:51:57 UTC ]
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Top line TV measurement and analytics giant Nielsen has named Karthik Rao as CEO, effective immediately. Former CEO David Kenny, who had the position since 2018, will take the role of executive chairman. Between the lines Following his appointment as CEO, Rao said he was looking to position... Continue reading at AdWeek
[ AdWeek | 2023-09-14 13:35:17 UTC ]
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Peter Ruis has resigned as CEO of Indigo Books & Music, a position he held for a year. The news comes after the retirement of founder Heather Reisman, a boardroom shake-up, and a destructive cyber attack that impacted sales. Continue reading at Publishers Weekly
[ Publishers Weekly | 2023-09-11 04:00:00 UTC ]
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The up-and-down year at Canadian book retailer Indigo took a new twist on Thursday as newly minted CEO Peter Ruis abruptly resigned. Continue reading at CBC
[ CBC | 2023-09-07 13:48:13 UTC ]
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