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: #macarthur foundation #mellon foundation #immediately respond #winning bid #multiple parties #deal expected #widespread criticism

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Most Parents Trust, Respect, and Feel Safe with Librarians: Book Censorship News, December 1, 2023

Despite rhetoric from the far right, most parents feel their kids are safe in libraries and that librarians are trustworthy. Continue reading at Book Riot

[ Book Riot | 2023-12-01 11:40:00 UTC ]
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Regnery Publishing Will Stay with Salem Media Group

Salem Media Group, parent company of Regnery Publishing, has been selling assets in an effort to cut its debt debt load, but a proposed sale of the publisher has been called off. Continue reading at Publishers Weekly

[ Publishers Weekly | 2023-11-30 05:00:00 UTC ]
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Andrew Miller Tapped to Lead Henry Holt

Andrew Miller has been named president and publisher of Henry Holt, effective mid-January 2024, succeeding Amy Einhorn, who left Holt to lead Crown in October. Continue reading at Publishers Weekly

[ Publishers Weekly | 2023-11-30 00:00:00 UTC ]
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Red Wheel/Weiser Agrees to Acquire Quest Books

Red Wheel/Weiser has agreed to acquire Quest Books, an imprint of the Theosophical Publishing House, the publishing arm of the Theosophical Society in America. Continue reading at Publishers Weekly

[ Publishers Weekly | 2023-11-17 05:00:00 UTC ]
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David Shelley To Lead Hachette in Both the UK and USA

In a move to bring the US and UK Hachette divisions closer, London's David Shelley is becoming CEO of both units. The post David Shelley To Lead Hachette in Both the UK and USA appeared first on Publishing Perspectives. Continue reading at Publishing Perspectives

[ Publishing Perspectives | 2023-11-15 21:10:53 UTC ]
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CEO of Hachette Book Group will step down at end of the year

The head of Hachette Book Group, Michael Pietsch, is retiring as CEO and will be succeeded by Hachette UK CEO David Shelley Continue reading at ABC News

[ ABC News | 2023-11-14 20:46:13 UTC ]
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The Chief Executive of Hachette Book Group to Step Down

Michael Pietsch will be replaced on Jan. 1 by the chief executive of Hachette UK, who will helm both divisions, bringing them into closer alignment. Continue reading at The New York Times

[ The New York Times | 2023-11-14 20:01:58 UTC ]
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Hachette Book Group, Hachette UK to Move Under United Management Team

Under what it calls a "new English-language management structure," Hachette Livre has named Hachette UK CEO David Shelley head of both Hachette Book Group and HUK, while current HBG CEO Michael Pietsch will retire as CEO and serve as chairman of the new group. Continue reading at Publishers Weekly

[ Publishers Weekly | 2023-11-14 05:00:00 UTC ]
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Jack Artenstein, Former S&S Group President and Publisher, Dies at 83

After executive roles at Grosset & Dunlap and Simon & Schuster, Artenstein launched RGA/Lowell House in 1984, and sold the company to the NTC/Contemporary Publishing Group in 1998. Continue reading at Publishers Weekly

[ Publishers Weekly | 2023-11-13 05:00:00 UTC ]
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‘It is a beast that needs to be tamed’: leading novelists on how AI could rewrite the future

Novelists and poets, Bernardine Evaristo, Jeanette Winterson, Stephen Marche and others, consider the threats and thrilling possibilities of artificial intelligenceChatGPT seems to have blindsided us all. In less than a year it has proved that it can make writers redundant, which is one of the... Continue reading at The Guardian

[ The Guardian | 2023-11-11 09:00:30 UTC ]
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RELX Group Is the World's Largest Publisher for the Fifth Year Running

Our annual ranking of the world’s biggest book publishers was once again topped by the STM and legal giant, which toppled Pearson from its perch in 2018. Continue reading at Publishers Weekly

[ Publishers Weekly | 2023-11-03 04:00:00 UTC ]
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Academic Publishing: Springer Nature Acquires Slimmer AI’s Science Division

The Dutch Slimmer AI's science division moves to Springer Nature in a partnership intended to support editors and research writers. The post Academic Publishing: Springer Nature Acquires Slimmer AI’s Science Division appeared first on Publishing Perspectives. Continue reading at Publishing Perspectives

[ Publishing Perspectives | 2023-10-27 11:34:24 UTC ]
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Hachette Book Group Reports Third Quarter Revenue Dip

CEO Michael Pietsch said the 5.2% decline was attributable to "a lighter publication schedule" compared to the same period last year and "a downward trend" in the overall publishing market. Continue reading at Publishers Weekly

[ Publishers Weekly | 2023-10-16 04:00:00 UTC ]
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Hitting the Books: Voice-controlled AI copilots could lead to safer flights

Siri and Alexa were only the beginning. As voice recognition and speech synthesis technologies continue to mature, the days of typing on keyboards to interact with the digital world around us could be coming to an end — and sooner than many of us anticipated. Where... Continue reading at Engadget

[ Engadget | 2023-10-15 14:30:20 UTC ]
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Leading Christian Authors Look to Little Readers

Christian-living megaselling authors, renowned Bible scholars, Christian fiction stars, and more are eager to open the doors to faith for little ones with new books. Continue reading at Publishers Weekly

[ Publishers Weekly | 2023-09-22 04:00:00 UTC ]
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Levar Burton Will Lead Banned Books Week as Its Honorary Chair

Reading advocate and icon Levar Burton will serve as the first actor to lead Banned Books Week as the honorary chair. Continue reading at Book Riot

[ Book Riot | 2023-09-21 16:12:23 UTC ]
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Hachette Book Group Names Lauren Monaco as EVP, Director of Sales

'To bring our sales and publishing teams even closer together,' says Michael Pietsch, Lauren Monaco follows Alison Lazarus at HBG. The post Hachette Book Group Names Lauren Monaco as EVP, Director of Sales appeared first on Publishing Perspectives. Continue reading at Publishing Perspectives

[ Publishing Perspectives | 2023-09-20 21:48:53 UTC ]
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Vice Media Group’s Cory Haik says company’s publishing business is ‘very close to profitability’

During the Digiday Publishing Summit, the COO of VMG’s news and entertainment arm explained how its publishing business plans to bounce back over the next 12 to 18 months. Continue reading at Digiday

[ Digiday | 2023-09-20 04:01:00 UTC ]
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Editorial Promotions Announced at Ballantine Group

Kara Welsh, president of PRH’s Ballantine Group—home of the Ballantine Bantam Dell imprints—announced a number of editorial promotions within the group. Those include the promotion of Kara Cesare to v-p and editor-in-chief of BBD. Continue reading at Publishers Weekly

[ Publishers Weekly | 2023-09-19 04:00:00 UTC ]
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