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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'Freedom' author Jonathan Franzen, who has previously disparaged Facebook and ebooks, says Twitter 'stands for everything I oppose' Continue reading at The Christian Science Monitor
[ The Christian Science Monitor | 2012-03-07 00:00:00 UTC ]
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Book sales soared £1.9m week on week last week, with the children's sector benefitting... Continue reading at The Bookseller
[ The Bookseller | 2012-03-06 00:00:00 UTC ]
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BuzzFeed, the meme-centric social news site known for its reserves of offbeat content and silly cat photos, is stockpiling journalists—serious ones. Last week, it announced the hire of award-winning Rolling Stone writer Michael Hastings, adding to an impressive roster of reporters that include... Continue reading at AdWeek
[ AdWeek | 2012-03-06 00:00:00 UTC ]
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Media content group Chorion has sold its 64% stake in the Agatha Christie estate to US media... Continue reading at The Bookseller
[ The Bookseller | 2012-03-01 00:00:00 UTC ]
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The director of World Book Day has said she hopes to double the number of tokens redeemed this... Continue reading at The Bookseller
[ The Bookseller | 2012-02-24 00:00:00 UTC ]
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Despite technological petting zoos, QR codes on shelf-talkers linked to bookstores’ Web sites, and in-store displays of physical books with signage reminding readers that they can also buy e-editions, only a handful of independents are making more than about $100 or so on ebook sales a month. To... Continue reading at Publishers Weekly
[ Publishers Weekly | 2012-02-24 00:00:00 UTC ]
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When the Independent Publishers Group couldn't come to terms with Amazon, the bookselling giant took 5,000 IPG titles out of their Kindle ebook store. Continue reading at The Christian Science Monitor
[ The Christian Science Monitor | 2012-02-23 00:00:00 UTC ]
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Sales of children's books rocketed 30% week-on-week as the spring half-term break resulted in... Continue reading at The Bookseller
[ The Bookseller | 2012-02-21 00:00:00 UTC ]
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Communications agency Four Communications Group has bought a 60% stake in consultancy Colman... Continue reading at The Bookseller
[ The Bookseller | 2012-02-21 00:00:00 UTC ]
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The latest figures from the Audit Bureau of Circulations for the last six months of 2011once again highlight the challenges facing traditional publishers in the digital era. The business - in the UK at least - is not for the faint hearted, but it remains full of opportunities. Continue reading at Media Week
[ Media Week | 2012-02-20 00:00:00 UTC ]
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As much as a quarter of fiction ebooks sold in the UK could be from self-published writers, as... Continue reading at The Bookseller
[ The Bookseller | 2012-02-17 00:00:00 UTC ]
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Book charity Booktrust is marking the 20th anniversary of its free books for babies scheme,... Continue reading at The Bookseller
[ The Bookseller | 2012-02-14 00:00:00 UTC ]
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Transworld titles earn pride of place in both the Mass-market and Original Fiction charts this... Continue reading at The Bookseller
[ The Bookseller | 2012-02-07 00:00:00 UTC ]
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As Barnes & Noble fights for its future, the publishing industry is holding its breath. Continue reading at The New York Times
[ The New York Times | 2012-01-29 00:00:00 UTC ]
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Last Monday, the American Library Association announced its annual Youth Media Awards at its Midwinter conference, held this year in Dallas. The 2012 John Newbery Medal went to author Jack Gantos for Dead End in Norvelt (FSG), a semiautobiographical story set in the town of Norvelt, Pa. The... Continue reading at Publishers Weekly
[ Publishers Weekly | 2012-01-27 00:00:00 UTC ]
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W H Smith says it increased its market share over the Christmas period, with retail analysts... Continue reading at The Bookseller
[ The Bookseller | 2012-01-26 00:00:00 UTC ]
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Andrew Miller has won the £30,000 2011 Costa Book of the Year for his sixth novel Pure... Continue reading at The Bookseller
[ The Bookseller | 2012-01-25 00:00:00 UTC ]
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Rupert Murdoch's US media giant News Corp is expanding its presence in the Middle East media market and beyond by agreeing to acquire a minority stake in Dubai-based media company Moby Group. Under the deal, News Corp will relinquish its 50 per ... Continue reading at Editor & Publisher
[ Editor & Publisher | 2012-01-18 00:00:00 UTC ]
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W H Smith has been upgraded from neutral to a 'buy' by Bank of America Merrill Lynch... Continue reading at The Bookseller
[ The Bookseller | 2012-01-06 00:00:00 UTC ]
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In The Obamas, journalist Kantor expands on her personal-is-political approach to look at the evolving relationships among the Obama family, the White House, and the Presidency. Continue reading at Publishers Weekly
[ Publishers Weekly | 2012-01-06 00:00:00 UTC ]
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