BuzzFeed shares soared early Wednesday after the entrepreneur and former presidential candidate Vivek Ramaswamy reported a stake in the online media company and asked for talks with the board.Ramaswamy, who ended his candidacy in January and threw his support behind Donald Trump, has taken a 7.7% stake in BuzzFeed, worth about $6.81 million based on Tuesday’s closing share price. The purchase makes Ramaswamy the fourth largest shareholder in BuzzFeed, trailing Comcast, NEA Management and Hearst Communications.The stock surged as much as 77% to $4.44 at the market open on Wednesday to hit the highest intraday level since April 2023. It was the stock’s biggest gain since February.In a filing with the Securities and Exchange Commission, Ramaswamy said he seeks to “engage in a dialogue with board or management about numerous operational and strategic opportunities to maximize shareholder value, including a shift in the company’s strategy.”Ramaswamy founded pharmaceutical company Roivant Sciences in 2014, and co-founded Strive Asset Management in 2022. He stepped away from the asset management firm last year to focus on his presidential run and has said he isn’t returning. Ramaswamy’s position in BuzzFeed marks his latest move since ending his political campaign.BuzzFeed, known for its online quizzes, lists of “bests,” and articles on pop culture, has struggled in recent years due to cutbacks in internet advertising. Last year, the company eliminated its news division amid... Continue reading at 'Crains New York'
[ Crains New York | 2024-05-22 14:46:15 UTC ]
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Goldman Sachs and Singapore's Temasek have invested $110 million in Shanda Cloudary, China's leading digital publishing platform, now valued at $600 million. Continue reading at Publishing Perspectives
[ Publishing Perspectives | 2013-07-10 00:00:00 UTC ]
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Baking may fight depression. So one pastry chef is raising awareness for mental health through a worldwide bake sale frosted in grey icing. Maybe it’s the sugar. Maybe it’s the chocolate. Maybe it’s the satisfaction that’s inherent to working with your hands. But baking seems to keep many of... Continue reading at Fast Company
[ Fast Company | 2013-07-09 00:00:00 UTC ]
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If the last decade in news was defined by the migration of audience to the web, the next will be defined by the shift to smartphones and tablets. About 56 percent of Americans now own smartphones, according to the Pew Internet and American Life P ... Continue reading at Editor & Publisher
[ Editor & Publisher | 2013-07-03 00:00:00 UTC ]
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Templar is launching a new imprint this autumn with a list of colouring-in books for all ages.... Continue reading at The Bookseller
[ The Bookseller | 2013-06-28 00:00:00 UTC ]
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Sally Gardner has won the prestigious Carnegie Medal for "Maggot Moon;" Levi Pinfold won the Kate Greenaway Medal, which awards excellence in illustration, for his picture book "Black Dog." Continue reading at Publishing Perspectives
[ Publishing Perspectives | 2013-06-24 00:00:00 UTC ]
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The parent company of science, business and media publisher Springer has sold its majority stake... Continue reading at The Bookseller
[ The Bookseller | 2013-06-19 00:00:00 UTC ]
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Michele Young is to join Macmillan Children's Books as International Rights Director... Continue reading at The Bookseller
[ The Bookseller | 2013-06-18 00:00:00 UTC ]
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Granta sales and marketing director Brigid Macleod and sales manager Sharon Murphy are leaving... Continue reading at The Bookseller
[ The Bookseller | 2013-06-17 00:00:00 UTC ]
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The head of Apple's iBookstore says Apple has captured 20 percent of the U.S. ebook market. Continue reading at AllThingsD
[ AllThingsD | 2013-06-13 00:00:00 UTC ]
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Amazon's Kindle e-reader is now available in China. But the Chinese Government may not be a fan and, as many Chinese use their phones to read books, the Kindle may face an uphill battle. Continue reading at The Christian Science Monitor
[ The Christian Science Monitor | 2013-06-11 00:00:00 UTC ]
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Celebrities including actor Rupert Everett [pictured] will read to children in London’s... Continue reading at The Bookseller
[ The Bookseller | 2013-06-06 00:00:00 UTC ]
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Apple enlisted the services of Winnie-the-Pooh in trying to show a court that it did not tinker with ebook prices when it opened its electronic bookstore in 2010, according to the Associated Press.Apple enlisted the services of Winnie-the-Pooh on Tuesday in trying to show a court that it did not... Continue reading at Los Angeles Times
[ Los Angeles Times | 2013-06-05 00:00:00 UTC ]
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Steve Swartz is a veteran of Hearst’s print business, but as he takes over as CEO this week, he underscored ways the leading magazine company is adapting its products to digital formats. Swartz, the former head of Hearst’s newspaper business and for the past two years, its chief operating... Continue reading at AdWeek
[ AdWeek | 2013-06-03 00:00:00 UTC ]
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The Rights House co-chief executive Michael Foster has sold his controlling stake in the literary... Continue reading at The Bookseller
[ The Bookseller | 2013-05-28 00:00:00 UTC ]
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A German online copyright law that will give publishers the exclusive right to the commercial use of their publications on the Internet will come into effect on Aug. 1. The law was published in Germany’s Federal Law Gazette (Bundesgesetzblatt) on Tuesday. After a law is published in the... Continue reading at PC World
[ PC World | 2013-05-16 00:00:00 UTC ]
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Smart publishers are thinking of their business as global instead of local. This may come as a surprise to some who see it as a novelty instead of the norm. Continue reading at Publishing Perspectives
[ Publishing Perspectives | 2013-05-16 00:00:00 UTC ]
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Microsoft is said to have offered Barnes & Noble $1 billion to buyout the Nook Media business. Where would that leave the retailer going forward? Continue reading at Publishing Perspectives
[ Publishing Perspectives | 2013-05-12 00:00:00 UTC ]
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Author Harper Lee, now 87-years-old, is suing the son-in-law of her former literary agent after he "duped" her into signing over rights to her beloved classic "To Kill a Mockingbird." Continue reading at Publishing Perspectives
[ Publishing Perspectives | 2013-05-06 00:00:00 UTC ]
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Coming from the West Coast, Reagan Arthur was not always surrounded by people who thought much of a career in books. Continue reading at Publishers Weekly
[ Publishers Weekly | 2013-04-27 00:00:00 UTC ]
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Amazon is hiring for positions in Russia, suggesting its Kindle ebookstore will open there soon and where they will take on several established, but not yet dominant, competitors. Continue reading at Publishing Perspectives
[ Publishing Perspectives | 2013-04-23 00:00:00 UTC ]
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