Getty Trust Leads Group of Foundations Acquiring Ebony Archives for $30M

A group of private foundations led by the J. Paul Getty Trust is set to purchase the complete photography archive of Johnson Publishing—which comprises some 983,000 photographs and 3.35 million unprocessed negatives from Ebony and Jet magazines dating back to 1948—after submitting a winning $30 million bid in a bankruptcy auction in Chicago on Wednesday morning. Johnson, which sold Ebony and Jet to the private equity firm Clear View Group in 2016 after seven decades of ownership, had sought to sell off the archive, its most valuable remaining asset, in order to satisfy outstanding debts after filing for Chapter 7 bankruptcy in April. Led by the Getty Trust—which operates a pair of art museums in Los Angeles and claimed a total endowment of $7.3 billion as of 2018—the purchasing group also includes the Ford Foundation, the MacArthur Foundation and the Andrew W. Mellon foundation. A rep for the Getty Trust did not immediately respond to a request for comment. After an initial auction held on July 17 yielded a winning bid of just $12.8 million, the deadline was extended to Wednesday morning after a "truly remarkable" level of interest from multiple parties, according Chapter 7 trustee Miriam Stein, with the sale price eventually arriving at $28.5 million, plus the $1.5 million deposit required in order to participate in the proceeding. A hearing to approve the sale will be held Thursday, with the deal expected to be completed on Friday. Chicago-based advisory firm Hilco... Continue reading at 'Folio Magazine'

[ Folio Magazine | 2019-07-25 17:18:02 UTC ]
News tagged with: #$30m appeared #compensate freelancers #widespread criticism #deal expected #held thursday #multiple parties #winning bid #immediately respond #getty trust #mellon foundation #macarthur foundation #ford foundation #total endowment

Other Publishing stories related to: 'Getty Trust Leads Group of Foundations Acquiring Ebony Archives for $30M'


Hachette Book Group to acquire the Perseus Books Group

Two years after a planned deal fell through, Hachette Book Group is purchasing the Perseus Books Group, bringing together two of the country's largest publishers. The companies issued separate... To view the full story, click the title link. Continue reading at Crains New York

[ Crains New York | 2016-03-02 00:00:00 UTC ]
More news stories like this | News stories tagged with: #largest publishers


Woodland Group acquires 50% of Worldwide Book Services

Supply chain specialist Woodland Group has acquired 50% of logistics company Worldwide Book Services, Continue reading at The Bookseller

[ The Bookseller | 2021-10-14 10:19:35 UTC ]
More news stories like this |


Case Study: How Trusted Media Brands is prioritizing video after acquiring a viral digital content company

Trusted Media Brands just recently acquired Jukin Media. Here's a look at what its strategy looks like — and what channels are set to expand first. The post Case Study: How Trusted Media Brands is prioritizing video after acquiring a viral digital content company appeared first on Digiday. Continue reading at Digiday

[ Digiday | 2021-09-29 04:01:00 UTC ]
More news stories like this | News stories tagged with: #digital content #case study


Hachette Book Group to acquire Workman Publishing for $240m

Hachette Book Group has announced that it is to acquire Workman Publishing, an independent publisher in the US, for $240m (£174m). Continue reading at The Bookseller

[ The Bookseller | 2021-08-17 21:02:19 UTC ]
More news stories like this | News stories tagged with: #book group #hachette book #independent publisher


The Quarto Group Relaunches Cool Springs Press as a Leading Lifestyle Gardening Imprint

This year marks the 25th anniversary of Cool Springs Press, which has grown from its beginning as a regional press to an internationally recognized publisher of lifestyle bestsellers. (Sponsored) Continue reading at Publishers Weekly

[ Publishers Weekly | 2021-03-26 04:00:00 UTC ]
More news stories like this | News stories tagged with: #quarto #25th anniversary #year marks


Deep Vellum Acquires Dalkey Archive

Deep Vellum Publishing is acquiring the assets of Dalkey Archive Press and will maintain the company as a distinct imprint, acquiring new titles as well as maintaining the press's backlist. Continue reading at Publishers Weekly

[ Publishers Weekly | 2020-11-24 05:00:00 UTC ]
More news stories like this | News stories tagged with:


James Patterson Leads Group Seeking to Raise Millions for Bookstores

Author James Patterson is spearheading a group that includes Reese Witherspoon, Reese’s Book Club, the Book Industry Charitable Foundation, and the American Booksellers Association in an effort to raise millions of dollars to help save independent bookstores. Continue reading at Publishers Weekly

[ Publishers Weekly | 2020-04-02 04:00:00 UTC ]
More news stories like this | News stories tagged with: #book industry #american booksellers association #book club


Eurospan acquires Transatlantic Publishers Group

Eurospan has acquired academic and educational sales agency Transatlantic Publishers Group for an undisclosed sum.  Continue reading at The Bookseller

[ The Bookseller | 2019-10-16 14:49:34 UTC ]
More news stories like this | News stories tagged with:


Bustle Digital Group Acquires Tech and Science Site Inverse

Bryan Goldberg is making additional moves in digital media. Goldberg's Bustle Digital Group has acquired Inverse, a tech- and science-focused website, the company said today. Financial details of the agreement were not disclosed. The acquisition represents yet another for Goldberg and BDG, which... Continue reading at AdWeek

[ AdWeek | 2019-07-23 17:51:26 UTC ]
More news stories like this | News stories tagged with: #digital media #financial details #bryan goldberg


British Library acquires Granta magazine archive

The British Library has acquired the 40-year archive of Granta magazine featuring letters and papers from authors including Margaret Atwood, JG Ballard, Angela Carter and Kazuo Ishiguro. Continue reading at The Bookseller

[ The Bookseller | 2019-07-09 06:16:31 UTC ]
More news stories like this | News stories tagged with: #kazuo ishiguro #angela carter #jg ballard #british library


U.K. Investment Group Acquires Barnes & Noble for $683 Million

It's a new--wait for it--chapter for bookseller Barnes & Noble, which will be acquired by U.K. investment firm Elliott Advisors in an all-cash deal worth $683 million. Barnes & Noble joins a portfolio that also includes U.K. bookseller Waterstones, which Elliott acquired in June 2018.... Continue reading at AdWeek

[ AdWeek | 2019-06-07 20:03:20 UTC ]
More news stories like this | News stories tagged with: #operate independently #bookseller waterstones #$683 million


PRH Acquires F+W Book Group Assets At Auction

Penguin Random House has posted the winning bid to acquire the book publishing assets of F+W Media. Continue reading at Publishers Weekly

[ Publishers Weekly | 2019-06-07 04:00:00 UTC ]
More news stories like this |


Hachette's Lucy Hale promoted, Rob Manser to lead restructured group sales

Hachette UK has promoted Lucy Hale to deputy c.e.o. of Hodder & Stoughton, Headline, John Murray Press and Quercus, while also creating a new UK group sales department led by Rob Manser, in an expanded role. Continue reading at The Bookseller

[ The Bookseller | 2018-10-04 00:00:00 UTC ]
More news stories like this | News stories tagged with: #expanded role #hodder stoughton #rob manser #hachette uk


Investment Group Acquires 5.7% Stake in B&N

The Schottenfeld Management Corp. has acquired over 4.1 million shares of Barnes & Noble and says in a filing that it has already talked to the retailer about actions it can take to improve shareholder value. Continue reading at Publishers Weekly

[ Publishers Weekly | 2018-07-24 00:00:00 UTC ]
More news stories like this | News stories tagged with: #barnes noble


HMP Acquires Vendome Group’s Behavioral Healthcare Unit

Healthcare industry publisher HMP has reached an agreement to acquire the Institute for the Advancement of Behavioral Healthcare (IABHC), including a pair of trade magazines and a suite of annual events, from Vendome Group for an undisclosed sum, the Malvern, Pa.-based company announced... Continue reading at Folio Magazine

[ Folio Magazine | 2018-07-10 00:00:00 UTC ]
More news stories like this |


Mantle acquires two historical crime leads in 'hotly contested' auction

Mantle has acquired two historical crime thrillers by debut author Laura Shepherd-Robinson in a "hotly contested" auction. Continue reading at The Bookseller

[ The Bookseller | 2018-07-04 00:00:00 UTC ]
More news stories like this | News stories tagged with: #hotly contested #mantle acquires


Group C Acquires Three More Titles; Grand View Media’s Breakup Nears Completion

After 21 years, Alabama-based Grand View Media appears to be exiting the publishing business. Group C Media—the New Jersey-based publisher of Business Facilities and Facility Executive magazines—announced last week its acquisition of Turf, Turf Design Build, and Tree Services magazines from... Continue reading at Folio Magazine

[ Folio Magazine | 2018-06-13 00:00:00 UTC ]
More news stories like this |


International Publishing Group Future Acquires NewBay Media

International media group Future plc has acquired NewBay Media for an initial net value of $13.8 million, the companies announced today. NewBay Media, based in London and New York, is a magazine and website publisher, with multiple verticals covering fields like TV and audio, electronics and... Continue reading at AdWeek

[ AdWeek | 2018-04-05 00:00:00 UTC ]
More news stories like this | News stories tagged with: #newbay media


Germany’s Klett Applies To Acquire Bulgarian Publishing and Distribution Group

In the latest of its moves amid East-European educational-sector interests, it proposes taking over publishing and distribution assets in Bulgaria. The post Germany’s Klett Applies To Acquire Bulgarian Publishing and Distribution Group appeared first on Publishing Perspectives. Continue reading at Publishing Perspectives

[ Publishing Perspectives | 2017-12-01 00:00:00 UTC ]
More news stories like this | News stories tagged with: #distribution group #post germany