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 ]
The Oklahoma-based arts-and-crafts retailer known for its ownership's conservative political leanings is coming soon to Manhattan.Hobby Lobby, which opened its first chain in the city on Staten Island in March, has now signed one of the largest leases in Manhattan so far this year, inking a deal... Continue reading at Crains New York
[ Crains New York | 2024-07-09 09:48:05 UTC ]
More news stories like this
OverDrive, the service you can use to borrow ebooks, audiobooks and other digital media from your local library, school or university, is shutting down. In a blog post spotted by TechCrunch, OverDrive announced last week it would shutter the app on May 1st, 2023. The company first shared it was... Continue reading at Engadget
[ Engadget | 2023-03-28 19:48:07 UTC ]
More news stories like this
The departing Scottish first minister has already said she plans to write about her time in office, and publishers are showing keen interestPublishers will be clamouring to buy a memoir by Nicola Sturgeon, with any deal expected to involve a six-figure advance, literary agents have... Continue reading at The Guardian
[ The Guardian | 2023-02-18 08:00:35 UTC ]
More news stories like this
The American Library Association gets a massive grant from the Andrew W. Mellon Foundation to address key issues in libraries; Florida librarians and educators struggle with pernicious new 'parental rights' laws; and two more states introduce new library e-book bills. Continue reading at Publishers Weekly
[ Publishers Weekly | 2023-01-27 05:00:00 UTC ]
More news stories like this
Swift Press has acquired Some Kids I Taught and What They Taught Me after its author and original publisher Picador ‘parted company’ last month following widespread criticism of the bookAn independent publisher, Swift Press, has acquired Kate Clanchy’s Some Kids I Taught and What They Taught Me,... Continue reading at The Guardian
[ The Guardian | 2022-02-01 10:50:18 UTC ]
More news stories like this
Author whose Orwell prize-winning Some Kids I Taught and What They Taught Me sparked online controversy last summer will no longer be published by Pan Macmillan Kate Clanchy and her publisher Pan Macmillan will no longer be working together, and distribution of all of her titles is to cease,... Continue reading at The Guardian
[ The Guardian | 2022-01-20 12:43:07 UTC ]
More news stories like this
Good news for theatermakers and audiences alike: Broadway World has reported that the Andrew W. Mellon Foundation has awarded a two-year, one-million-dollar grant to TCG Books, the largest independent trade publisher of dramatic literature in North America. The grant will, according to Broadway... Continue reading at Literrary Hub
[ Literrary Hub | 2021-10-22 18:01:30 UTC ]
More news stories like this
Poet and teacher has apologised for ‘overreacting’ to scrutiny of book’s portrayals of autistic pupils and children of colourKate Clanchy is rewriting her critically acclaimed memoir after widespread criticism of her portrayal of her pupils, particularly children of colour and autistic... Continue reading at The Guardian
[ The Guardian | 2021-08-10 18:58:54 UTC ]
More news stories like this
US publishing giant was due to distribute Jonathan Mattingly’s The Fight for Truth for rightwing outlet Post Hill PressSimon & Schuster has said that it will not be distributing a book by one of the police officers who shot Breonna Taylor, after a small publisher whose books are distributed... Continue reading at The Guardian
[ The Guardian | 2021-04-16 09:27:28 UTC ]
More news stories like this
Wattpad, the online story writing website, is in talks with multiple parties to sell the enterprise, with a $500m price tag being mooted, Canada 24 News has reported. Continue reading at The Bookseller
[ The Bookseller | 2021-01-11 08:40:16 UTC ]
More news stories like this
The Andrew W. Mellon Foundation has provided $3.5 million to support the establishment of the Literary Arts Emergency Fund, which will support nonprofit literary publishers and organizations with $5,000-$50,000 emergency grants. Continue reading at Publishers Weekly
[ Publishers Weekly | 2020-07-17 04:00:00 UTC ]
More news stories like this
When San Diego magazine abruptly ceased operations and laid off nearly all of its employees in late March, mere days after a statewide shelter-in-place order took effect in California, CEO and publisher Jim Fitzpatrick stressed that it was only a temporary pause and that he hoped the magazine... Continue reading at Folio Magazine
[ Folio Magazine | 2020-06-15 18:27:52 UTC ]
More news stories like this
The controversial film director’s autobiography Apropos of Nothing had been dropped by its original publisher Woody Allen’s memoir, dropped by its original publisher after widespread criticism, has found a new home.The 400-page book, still called Apropos of Nothing, was released on Monday by... Continue reading at The Guardian
[ The Guardian | 2020-03-23 15:19:32 UTC ]
More news stories like this
Springer Nature is selling its publishing services enterprise SPS to content technology and solutions business SPi Global, in a deal expected to conclude by the end of the year. Continue reading at The Bookseller
[ The Bookseller | 2019-12-02 21:47:54 UTC ]
More news stories like this
Two months into life behind a digital paywall, The Atlantic says it sold "record numbers" of subscriptions in both September and October, doubling the amount of sales originally forecast (though it declined to share specific figures). Today, the magazine unveiled what it hopes will be an... Continue reading at Folio Magazine
[ Folio Magazine | 2019-11-12 19:44:42 UTC ]
More news stories like this
Poet Ocean Vuong and Booker Prize longlistee Valeria Luiselli are among the recipients of this year’s £505,000 "genius grants" from the MacArthur Foundation. Continue reading at The Bookseller
[ The Bookseller | 2019-09-25 06:10:20 UTC ]
More news stories like this
Novelist and poet Ocean Vuong and comics artist and educator Lynda Barry, are among the 26 people chosen to receive the annual fellowships—popularly known as “genius grants”—awarded by the John D. and Catherine T. MacArthur Foundation. Continue reading at Publishers Weekly
[ Publishers Weekly | 2019-09-25 04:00:00 UTC ]
More news stories like this
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... Continue reading at Folio Magazine
[ Folio Magazine | 2019-07-25 17:18:02 UTC ]
More news stories like this
A month after pledging to "vigorously defend" its proposed $1.4 billion acquisition of rival publication printer LSC Communications in the face of a Justice Department lawsuit challenging the deal, Quad/Graphics announced on Tuesday that the two companies have agreed to end the fight. The... Continue reading at Folio Magazine
[ Folio Magazine | 2019-07-23 16:26:38 UTC ]
More news stories like this
After placing the winning bid in the auction for the book assets of bankrupt F+W Media, Penguin Random House has completed the purchase of 2,000 titles and that announced the works will become part of the Penguin Publishing Group. Continue reading at Publishers Weekly
[ Publishers Weekly | 2019-07-22 04:00:00 UTC ]
More news stories like this