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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News Corp. Seeks Buyer for Brooklyn-Based Newspaper Group

News Corp. is looking for a buyer for its Brooklyn-based local newspaper operation. Capital has learned that the global publishing conglomerate, which also owns The Wall Street Journal and the New York Post, has issued a prospectus to potential b ... Continue reading at Editor & Publisher

[ Editor & Publisher | 2013-12-11 00:00:00 UTC ]
More news stories like this | News stories tagged with: #seeks buyer #york post


Scripps Acquires Digital Video Startup Newsy

Media conglomerate E.W. Scripps is expanding into the digital video game with the acquisition of Newsy, a five-year-old video news startup that produces content for Web and mobile platforms. The deal, in which Scripps is paying $35 million for the startup, is expected to close on Jan. 1. In a... Continue reading at AdWeek

[ AdWeek | 2013-12-10 00:00:00 UTC ]
More news stories like this | News stories tagged with: #media conglomerate #mobile platforms #digital strategy #selling advertising #content partnerships #huffington post


Bonnier Acquires Sport Diver UK

Bonnier Corp. extended its dive market portfolio by acquiring Sport Diver UK, an international magazine that mirrors its own U.S.-based Sport Diver brand.  Continue reading at Folio Magazine

[ Folio Magazine | 2013-12-04 00:00:00 UTC ]
More news stories like this | News stories tagged with: #bonnier corp


Touch Press leads winners at FutureBook Innovation Awards

Touch Press was a major winner at the FutureBook Innovation Awards, scooping a duo of prizes for... Continue reading at The Bookseller

[ The Bookseller | 2013-11-21 00:00:00 UTC ]
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Of stage and screens: Broadway websites play leading role

Robert Diamond's initial brush with Broadway and technology began with Phantom of the Opera and a fascination with its leading man. "Hey, I'm a straight guy who loves Michael Crawford. When I was still in college I created the official Michael Crawford website," said the self-described nerd, who... Continue reading at Crains New York

[ Crains New York | 2013-11-17 00:00:00 UTC ]
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Book Groups Back Bill to Restore Privacy Protections

Spurred by revelations of how the National Security Agency is collecting information on citizens, the Campaign for Reader Privacy has issued a statement calling for Congress to pass the USA Freedom Act. Continue reading at Publishers Weekly

[ Publishers Weekly | 2013-11-14 00:00:00 UTC ]
More news stories like this | News stories tagged with: #reader privacy #statement calling


Ross Levinsohn Among Leading Execs to Speak at Digital Entertainment World

Ross Levinsohn, CEO of Guggenheim Digital Media, publisher of Adweek, The Hollywood Reporter and Billboard, is on the growing list of industry executives set to speak at the inaugural 2014 Digital Entertainment World conference in Los Angeles. The global marketplace and conference, which is... Continue reading at AdWeek

[ AdWeek | 2013-11-14 00:00:00 UTC ]
More news stories like this | News stories tagged with: #hollywood reporter #growing list #global marketplace #content creation #respective industries #joint venture


Quarto Group consolidates London offices

The Quarto Group has completed the consolidation of its three London offices into two, with a... Continue reading at The Bookseller

[ The Bookseller | 2013-11-14 00:00:00 UTC ]
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Shanghai Children’s Book Fair: A Strong Foundation

Positive reviews from exhibitors continue to roll in on the second day of the China Shanghai Children’s International Book Fair (CCBF). Continue reading at Publishers Weekly

[ Publishers Weekly | 2013-11-08 00:00:00 UTC ]
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BBC Trust: 'mistakes' over Lonely Planet

A BBC Trust report has criticised BBC Worldwide for "mistakes" over the purchase and... Continue reading at The Bookseller

[ The Bookseller | 2013-11-07 00:00:00 UTC ]
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Dundee UP acquired by Edinburgh

Edinburgh University Press has acquired the business and publishing assets of Dundee University... Continue reading at The Bookseller

[ The Bookseller | 2013-11-04 00:00:00 UTC ]
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OpenGate Capital Launches Media Acquisitions Group

OpenGate Capital, a global private buyout firm, splashed into media with the acquisition of TV Guide Magazine five years ago. Continue reading at Folio Magazine

[ Folio Magazine | 2013-10-24 00:00:00 UTC ]
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Penton Reorganizes Aviation Group

Penton Media’s recent purchase of Aviation Week triggered a reorganization of the company’s aviation media assets. The reorg includes the launch of three new products—an app, a magazine relaunch and a flight-planning partnership with RocketRoute. Continue reading at Folio Magazine

[ Folio Magazine | 2013-10-23 00:00:00 UTC ]
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Frankfurt Book Fair 2013: WME, HC Lead the Deal-Making in Active Show

If there a theme emerged from the deal-making at this year’s Frankfurt Book Fair, it was the dominance of HarperCollins as a buyer of big books, and of William Morris Endeavor as the seller of those books. Continue reading at Publishers Weekly

[ Publishers Weekly | 2013-10-11 00:00:00 UTC ]
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The Chernin Group's Billy Parks Imagines Reality TV, Without TV

This past summer media and entertainment company The Chernin Group (founded by former News Corp. president and COO Peter Chernin) released a digital reality series that took the notion of digital media and ran with it.Mr. Parks: The first thing I did was call all my favorite smartest people... Continue reading at Advertising Age

[ Advertising Age | 2013-10-01 00:00:00 UTC ]
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Timothy Leary-developed video games found in New York Public Library archive

The New York Public Library recently discovered a treasure trove of video games in its archives created by psychedelic evangelist Timothy Leary. Over 375 floppies (talk about flashbacks) containing a "dozen or so" games developed by the LSD-advocate in the '80s -- some are playable via emulation... Continue reading at Engadget

[ Engadget | 2013-09-30 00:00:00 UTC ]
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What Kinds of Advertising Do Consumers Trust the Most?

Here is some good news for marketers: More consumers trust advertising compared with six years ago, according to a new report from Nielsen that polled people in 58 countries.While word-of-mouth recommendations remain a brand's best friend by far, confidence in various forms of paid advertising... Continue reading at Advertising Age

[ Advertising Age | 2013-09-25 00:00:00 UTC ]
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Can Charlie Redmayne Lead HarperCollins UK to Victory?

Ex-army man Charlie Redmayne may have left Pottermore to take the helm at HarperCollins UK, but he's not taking sides in the war between print and digital. Continue reading at Publishing Perspectives

[ Publishing Perspectives | 2013-09-23 00:00:00 UTC ]
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Mira acquires David Solomons tie-in

Harlequin UK imprint Mira is to publish David Solomons’ Not Another Happy Ending, based on... Continue reading at The Bookseller

[ The Bookseller | 2013-09-18 00:00:00 UTC ]
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Darden Media Group buys Maxim magazine

Alpha Media has sold Maxim magazine to an affiliate of Darden Media Group that is planning to distribute Maxim's content across TV, radio and music platforms, the company said Thursday evening. Terms of the deal were not disclosed.Calls to Darden Media Group were not immediately returned... Continue reading at Crains New York

[ Crains New York | 2013-09-13 00:00:00 UTC ]
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