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 ]
Bonnier Corp.'s Diving Media Group, which includes Scuba Diving and Sport Diver magazines, was sold to the Professional Association of Diving Instructors (PADI) on Wednesday for an undisclosed sum. Effective immediately, PADI now has full ownership of Scuba Diving magazine, scubadiving.com,... Continue reading at Folio Magazine
[ Folio Magazine | 2019-06-19 17:13:10 UTC ]
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Anticipating a combined pro forma cash revenue of US$3,157 million, the new entity will take McGraw-Hill's name, the deal expected to close by early 2020. The post Cengage and McGraw-Hill Merge, Hansen Leads Company appeared first on Publishing Perspectives. Continue reading at Publishing Perspectives
[ Publishing Perspectives | 2019-05-01 00:00:00 UTC ]
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A four-year, $1,205,000 grant from the Andrew W. Mellon Foundation will support continued development and expansion of a program designed to diversify academic publishing, and will directly affect six presses. Continue reading at Publishers Weekly
[ Publishers Weekly | 2019-01-23 00:00:00 UTC ]
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Beleaguered US bookselling chain Barnes & Noble has said it has received "expressions of interest from multiple parties in making an offer to acquire the company". Continue reading at The Bookseller
[ The Bookseller | 2018-10-06 00:00:00 UTC ]
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Saying it has received interest from multiple parties about making an offer for the company, Barnes & Noble has created a formal review process to evaluate the retailer’s strategic alternatives. Among the parties interested in making an offer for B&N is its founder and chairman Len Riggio. Continue reading at Publishers Weekly
[ Publishers Weekly | 2018-10-03 00:00:00 UTC ]
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Colin Kaepernick, the former San Francisco 49ers quarterback who inspired a nationwide protest movement against racism, has a million-dollar book deal from Random House imprint One World, according to the New York Post's Page Six. Random House did not immediately respond to a request for comment... Continue reading at Los Angeles Times
[ Los Angeles Times | 2017-10-25 00:00:00 UTC ]
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The National Book Foundation will conduct a study of translation in the United States. The study will be funded by a grant from the Andrew W. Mellon Foundation. Continue reading at Publishers Weekly
[ Publishers Weekly | 2016-10-04 00:00:00 UTC ]
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Birkbeck, part of the University of London, has been awarded a grant of $741,000 (£476,372) to “cement and expand a new model for open-access publishing in the humanities disciplines”. The grant, from the Andrew W Mellon Foundation, will go towards the Open Library of Humanities (OLH) platform... Continue reading at The Bookseller
[ The Bookseller | 2015-07-07 00:00:00 UTC ]
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Waterstones is in exclusive talks to buy Blinkbox books, The Bookseller understands. Tesco is in exclusive talks with one buyer, thought to be Waterstones, with a deal expected to be finalised by the end of this week. The bookseller urgently needs a digital app-based proposition to rival... Continue reading at The Bookseller
[ The Bookseller | 2015-01-14 00:00:00 UTC ]
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Amazon.com has updated its mobile app store to include support for its Chinese customers, in a sign that the U.S. company could be preparing to sell its Kindle e-readers and tablets in the country.The update effectively launches a new version of Amazon's app store built in the Chinese language.... Continue reading at PC World
[ PC World | 2013-05-06 00:00:00 UTC ]
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