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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Paramount announced Monday that it's selling the storied publisher for $1.62 billion, months after a sale to Penguin Random House was blocked by a federal judge. Continue reading at Los Angeles Times
[ Los Angeles Times | 2023-08-07 21:27:31 UTC ]
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Despite recent stories about the popularity of BookTok, Neilsen’s survey found more of those aged between 14-25 searched YouTube for new reads YouTube trumps TikTok as the most popular online platform for young people to discover new books, according to a report by Nielsen BookData.Nielsen,... Continue reading at The Guardian
[ The Guardian | 2023-08-07 14:48:11 UTC ]
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Tattered Cover has named Brad Dempsey interim CEO of the Denver bookstore chain, replacing CFO Margie Keenan, who served as interim CEO after former CEO and co-owner Kwame Spearman left in April to start a political career. Continue reading at Publishers Weekly
[ Publishers Weekly | 2023-07-06 04:00:00 UTC ]
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One of the world’s oldest newspapers, the Vienna-based Wiener Zeitung, is ending its daily print run after more than three centuries Continue reading at ABC News
[ ABC News | 2023-06-30 10:46:38 UTC ]
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In a filing this week, lawyers for The New Press argued that the controversial Florida law, a centerpiece of governor Ron DeSantis's legislative agenda, “wears its prejudice on its sleeve.” Continue reading at Publishers Weekly
[ Publishers Weekly | 2023-06-29 04:00:00 UTC ]
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#uphold block
Turns out our soon-to-be AI Overlord, ChatGPT, has a worldview based in the 19th-century canon, Gen X sci-fi favorites, and the social dynamics at Hogwart’s School For Lil Magicians. According to this profile at Business Insider, a data scientist has reverse-engineered ChatGPT’s reading list by... Continue reading at Literrary Hub
[ Literrary Hub | 2023-05-30 15:25:12 UTC ]
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As Barnes & Noble continues to put its troubled past behind it, CEO James Daunt outlined the "process of change" at the company, which includes renovating stores to make them more appealing, empowering employees, adding sidelines, and renewing the browsing experience both offline and on. Continue reading at Publishers Weekly
[ Publishers Weekly | 2023-05-24 04:00:00 UTC ]
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Sarah Harden says, “If there’s one word we talk about over and over again, it’s shifting from judgment to curiosity.” The morning I spoke with Hello Sunshine CEO Sarah Harden I revisited Cheryl Strayed’s book, Tiny Beautiful Things. A compilation of letters from Strayed’s advice column, Dear... Continue reading at Fast Company
[ Fast Company | 2023-05-22 05:00:00 UTC ]
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Guess who made it out of committee? On Wednesday, the Illinois state legislature passed House Bill 2789, which would ensure libraries or schools that remove books from their shelves do so with the knowledge they shall ~shelve~ the state grant money they would otherwise have received. Governor... Continue reading at Literrary Hub
[ Literrary Hub | 2023-05-05 12:07:16 UTC ]
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As part of a two-day program curated by Association of American Literary Agents, Daunt will discuss how the company’s initiatives and plans for the future will impact the publishing industry during an address on Tuesday, May 23. Continue reading at Publishers Weekly
[ Publishers Weekly | 2023-05-01 04:00:00 UTC ]
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Incoming CEO Jesse Myers takes up the challenges as Dwight Baker heads toward outdoor life. An aggressive growth plan has been temporarily put on hold as the company confronts the various headwinds facing the economy in general and publishing in particular. Continue reading at Publishers Weekly
[ Publishers Weekly | 2023-04-25 04:00:00 UTC ]
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Celebrities including Julia Roberts, Julianna Margulies, and Selma Blair are urging people to take part in the #LetAmericaRead campaign. April is National School Library Month but, unfortunately, some of the books in school libraries have never been under greater threat in parts of America than... Continue reading at Fast Company
[ Fast Company | 2023-04-11 12:01:00 UTC ]
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It's been a rocky few years for Nielsen following the loss of its third-party accreditation in late 2021. Though the Media Rating Council (MRC) confirmed late last year that the measurement company's status remained suspended, Nielsen has been working hard to earn back trust from buyers and... Continue reading at AdWeek
[ AdWeek | 2023-04-10 20:00:00 UTC ]
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The recipes in foodie audiobooks add that something extra and deserve to be heard by audiobook listeners. Here's why. Continue reading at Book Riot
[ Book Riot | 2023-03-22 10:36:00 UTC ]
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Pat Schroeder, who served as a congresswoman from Colorado for 24 years before being named president and CEO of the Association of American Publishers, died on March 13. Continue reading at Publishers Weekly
[ Publishers Weekly | 2023-03-14 04:00:00 UTC ]
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In her memoir 'I Am Debra Lee,' BET's former CEO gets candid about her tenure at the cable network and shares advice for women in corporate America. Continue reading at Los Angeles Times
[ Los Angeles Times | 2023-03-07 19:04:58 UTC ]
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The departure of Madeline McIntosh, who has led the country’s largest book publisher since 2018, is the latest shake-up for the company during a turbulent period. Continue reading at The New York Times
[ The New York Times | 2023-01-31 14:38:01 UTC ]
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About three weeks after Gina Centrello retired as president and publisher of the Random House Publishing Group, McIntosh announced that she will step down as CEO of Penguin Random House in the very near future. Continue reading at Publishers Weekly
[ Publishers Weekly | 2023-01-31 00:00:00 UTC ]
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In a letter to agents and authors, HBG CEO Michael Pietsch touched on a number of topics, including the sales outlook for trade books, the lawsuit against the Internet Archive, and increasing direct-to-consumer marketing and sales efforts. Continue reading at Publishers Weekly
[ Publishers Weekly | 2023-01-10 05:00:00 UTC ]
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As the year comes to a close, ‘Fast Company’ asked leaders which books they sought out for guidance and leadership advice. In 2022, as they faced a tight labor market and a looming economic downturn, business leaders had a lot on their minds. With the year coming to a close, Fast Company asked... Continue reading at Fast Company
[ Fast Company | 2022-12-14 07:00:00 UTC ]
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