BuzzFeed shares soar as Vivek Ramaswamy takes activist stake

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 ]
News tagged with: #trailing comcast #hearst communications #market open #biggest gain #exchange commission #numerous operational #strategic opportunities #maximize shareholder #presidential run #latest move #political campaign #online quizzes #pop culture #internet advertising #hearst

Other news stories related to: "BuzzFeed shares soar as Vivek Ramaswamy takes activist stake"

When Creativity Takes A Wrong Turn: Lousy Book Covers

Aptly titled new Tumblr "Lousy Book Covers" collects the delightfully dubious achievements in jacket design. The book Spending Christmas With a Yeti is already at a marketplace disadvantage, what with that title, but then there’s the book cover. Oh boy, where to start. The real-life... Continue reading at Fast Company

[ Fast Company | 2013-01-10 00:00:00 UTC ]
More news stories like this | News stories tagged with: #covers featured #chip kidd #book covers #book cover

French bookshops take up Amazon protest

French bookshops and cultural product chains are following the UK example in protesting against... Continue reading at The Bookseller

[ The Bookseller | 2013-01-04 00:00:00 UTC ]
More news stories like this | News stories tagged with: #french bookshops

Belgian Media Planning Shared Digital Content Passport

Fresh from apparently wrangling online content fees from Google last month, Belgian newspaper websites will, in 2013, launch an industry-wide platform to take back their readers. Major Flemish- and French-language newspaper publishers, magazine publ ... Continue reading at Editor & Publisher

[ Editor & Publisher | 2013-01-02 00:00:00 UTC ]
More news stories like this |

Pearson buys a small stake in Nook Media, wants a fast track for digital education

Publishers often want to work closely with ebook outlets -- possibly a little too closely -- but it's rare that they involve themselves directly. Pearson is taking that uncommon step by making a 5 percent, $89.5 million investment in Nook Media, the joint venture between Barnes & Noble and... Continue reading at Engadget

[ Engadget | 2012-12-29 00:00:00 UTC ]
More news stories like this | News stories tagged with: #sea change #made public #barnes noble #joint venture

Print book sales soar to three-year high

Sales of printed books soared to a three-year high in the UK last week as shoppers flooded the... Continue reading at The Bookseller

[ The Bookseller | 2012-12-28 00:00:00 UTC ]
More news stories like this | News stories tagged with: #three-year high

Jamie Oliver takes third consecutive Xmas number one

TV chef Jamie Oliver has scored his third book trade Christmas number one in a row, and his fifth... Continue reading at The Bookseller

[ The Bookseller | 2012-12-18 00:00:00 UTC ]
More news stories like this |

Gale and Van der Merwe share Green Carnation Prize

Authors Patrick Gale and Andre Carl Van der Merwe have been named joint winners of the Green... Continue reading at The Bookseller

[ The Bookseller | 2012-12-18 00:00:00 UTC ]
More news stories like this |

HC takes full control of India arm

HarperCollins has taken full control of its India arm, following 10 years of running it in... Continue reading at The Bookseller

[ The Bookseller | 2012-11-30 00:00:00 UTC ]
More news stories like this | News stories tagged with: #full control

Take Your Child to a Bookstore Day is celebrated at stores around the world

Founded by a writer and mother, Take Your Child to a Bookstore Day is set for Dec. 1 this year. Continue reading at The Christian Science Monitor

[ The Christian Science Monitor | 2012-11-27 00:00:00 UTC ]
More news stories like this | News stories tagged with: #bookstore day

Secret Race takes William Hill prize

An exposé of doping in professional cycling has won the William Hill Sports Book of the... Continue reading at The Bookseller

[ The Bookseller | 2012-11-26 00:00:00 UTC ]
More news stories like this |

Sharjah: What Happens When Rulers Take Reading Seriously

Is there an argument to be made in favor of state intervention in the book trade? If the growth of the book trade in Sharjah is any evidence, the answer is yes. Continue reading at Publishing Perspectives

[ Publishing Perspectives | 2012-11-12 00:00:00 UTC ]
More news stories like this | News stories tagged with: #book trade

Kindle Share of E-book Reading at 55%

At the end of June, Amazon’s Kindle family of reading devices was used to read ebooks by 55% of ebook buyers, according to figures compiled by Bowker Market Research. Continue reading at Publishers Weekly

[ Publishers Weekly | 2012-11-09 00:00:00 UTC ]
More news stories like this | News stories tagged with: #ebook buyers #read ebooks #reading devices #e-book reading

Penguin talks lift Pearson shares

Pearson shares open higher on news that two of the world's biggest publishers, Penguin and Random House, are in talks about a possible merger. Continue reading at BBC News

[ BBC News | 2012-10-26 00:00:00 UTC ]
More news stories like this | News stories tagged with: #random house #biggest publishers

E-books Share of Canadian Market Pegged at 16%

BookNet Canada’s first survey of where Canadians buy books and what types of books they buy found that about 16% of purchases in the first half of 2012 were of ebooks, while paperback remained the most popular format, with a 57% share. Continue reading at Publishers Weekly

[ Publishers Weekly | 2012-10-12 00:00:00 UTC ]
More news stories like this | News stories tagged with: #popular format #booknet canada

Taking the Reading Out of Readings

Early last month Junot Díaz nearly caused a riot when hundreds of fans descended on the Union Square Barnes & Noble in New York City to hear the author read from his latest, This Is How You Lose Her. But, to put it mildly, not every author is Junot Díaz, and getting a crowd to hear you read... Continue reading at Publishers Weekly

[ Publishers Weekly | 2012-10-12 00:00:00 UTC ]
More news stories like this | News stories tagged with: #junot daz

NZ takes centre stage at Frankfurt Book Fair

New Zealand has officially taken centre stage at the world's biggest book fair in Frankfurt, Germany. Continue reading at Stuff

[ Stuff | 2012-10-10 00:00:00 UTC ]
More news stories like this | News stories tagged with: #centre stage

Syrian author shares Pinter prize

Samar Yazbek, whose latest book is an account of the Assad regime written inside Syria, will share the Pen Pinter prize with poet Carol Anne Duffy. Continue reading at BBC News

[ BBC News | 2012-10-09 00:00:00 UTC ]
More news stories like this |