Guardian, Observer and theguardian.com publisher to invest sale proceeds, thought to be £600m to £700m, in core businessGuardian Media Group is selling its 50.1% stake in Auto Trader owner Trader Media Group to private equity firm Apax Partners in a deal thought to be worth £600m to £700m to the Guardian publisher.The sale to Apax, which bought 49.9% of Trader Media Group in 2007 and has been GMG's joint venture partner in the business since then, is thought to give TMG an enterprise value of about £1.8bn. The exact financial details of the deal were not revealed.GMG's sale of the TMG stake is subject to reguatory approval and final completion.Andrew Miller, the chief executive of GMG, said: "This proposed transaction makes strategic sense as we focus GMG's activities on award-winning digital and print journalism. On completion, the sale proceeds will strengthen our balance sheet and position us for further investment and growth in our core business."Neil Berkett, the chair of the GMG board, said: "Once completed, this deal will make GMG a very well-capitalised media organisation with the financial flexibility to navigate the rapidly-changing media environment, where our flagship titles are proven pioneers of digital and print innovation."The Scott Trust, sole shareholder in GMG, has given its approval for the proposed sale and authorised the company board to reinvest the proceeds to enable it to continue to safeguard the Guardian's editorial and financial... Continue reading at 'The Guardian'
[ The Guardian | 2014-01-21 00:00:00 UTC ]
Pete Stavros, co-head of global equity for KKR, said that it will be at least five years before the private equity firm considers selling Simon & Schuster, which it bought last fall. Stavros added that he has many hopes for what S&S can accomplish before he looks for a new home for the... Continue reading at Publishers Weekly
[ Publishers Weekly | 2024-02-15 05:00:00 UTC ]
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Let’s once again put that cost in perspective and take a look at what $7 million can afford a buyer elsewhere elsewhere in the media landscape. Continue reading at Digiday
[ Digiday | 2024-02-06 05:01:00 UTC ]
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Zibby Media has invested heavily in a traditional means of promoting books: live events. The company has hosted a range of splashy gatherings across the country to bring its readers together, and later this month, founder Zibby Owens will embark on a 24-state tour to promote her debut novel,... Continue reading at Publishers Weekly
[ Publishers Weekly | 2024-02-06 05:00:00 UTC ]
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The CEOs of Meta, Snap, Discord, X and TikTok testified at a high-stakes Senate Judiciary Committee hearing on child exploitation online. During the hearing, Mark Zuckerberg, Evan Spiegel, Jason Citron, Linda Yaccarino and Shou Chew spent nearly four hours being grilled by lawmakers about their... Continue reading at Engadget
[ Engadget | 2024-02-01 13:31:01 UTC ]
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Digital media company G/O Media is shopping around its portfolio of editorial assets in hopes of securing buyers for individual titles, part of a broader effort to divest the properties ahead of another challenging year for the media industry, according to four people... Continue reading at AdWeek
[ AdWeek | 2024-01-24 09:52:22 UTC ]
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More titles, publishers, and services led to record revenue in 2023 at the digital marketing company, said CEO David Steinberger. Continue reading at Publishers Weekly
[ Publishers Weekly | 2024-01-24 05:00:00 UTC ]
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Independent publisher The Midst launched on its new website Tuesday, after more than four years of chronicling perimenopause and the modern midlife experience as a personal blog called Jumble and Flow. The publisher is one of a growing number of media companies to plant... Continue reading at AdWeek
[ AdWeek | 2024-01-23 13:42:51 UTC ]
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Mae D Huettig, Romana Javitz and Shirley Graham DuBois were instrumental in their respective media fields but very few of us will be aware of their individual contributions. Continue reading at The Conversation
[ The Conversation | 2024-01-22 21:21:50 UTC ]
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Somers, who died in her Brooklyn home this past August, worked on Justice Sonia Sotomayor's memoir, two novels by Toni Morrison, and Martin Sherwin and Kai Bird's Pulitzer-winning biography of J. Robert Oppenheimer in her 13-year tenure at Knopf. Continue reading at Publishers Weekly
[ Publishers Weekly | 2024-01-11 05:00:00 UTC ]
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If you’re looking for more ways to earn an income or diversify revenue streams, e-books are a great avenue. You don’t need to be an expert, either. With My AI eBook Creation Pro, you can create premium e-books in a matter of clicks without the writing or design expertise. Powered by... Continue reading at PC World
[ PC World | 2024-01-10 08:00:00 UTC ]
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Barnes & Noble followed up sales increases in 2022 with more gains in 2023 and CEO James Daunt said the bookseller is "entering a period of significant growth." Continue reading at Publishers Weekly
[ Publishers Weekly | 2024-01-10 05:00:00 UTC ]
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Jean V. Naggar Literary Agency has acquired cookbook-focused literary agency the Ekus Group, which will operate as a boutique culinary division. Owner Sally Ekus will head up representation of cookbook and lifestyle titles as senior literary agent. Continue reading at Publishers Weekly
[ Publishers Weekly | 2024-01-09 05:00:00 UTC ]
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Hours before sunrise on Monday morning, United Launch Alliance’s brand spankin’ new Vulcan Centaur rocket is scheduled to make its maiden flight carrying a historic passenger: Peregrine, the first American lunar lander to be sent to the moon in over 50 years. And its mission could mark a turning... Continue reading at Engadget
[ Engadget | 2024-01-07 14:00:38 UTC ]
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Vignette Books is new online bookstore based in Austin, Tex., cofounded by a former employee at Book People. It has attracted an audience willing to gamble on buying used and vintage books based solely on their categories, without knowing exactly which title will arrive. Continue reading at Publishers Weekly
[ Publishers Weekly | 2024-01-04 05:00:00 UTC ]
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Alice Oseman has the #1 book in the country with the graphic novel 'Heartstopper #5.' Plus 'The Boys in the Boat' lands in theaters—and on our trade paperback list—and several other titles get a holiday boost. Continue reading at Publishers Weekly
[ Publishers Weekly | 2024-01-02 05:00:00 UTC ]
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Social publisher NowThis, which often sees its trending news and entertainment videos go viral on social platforms, hired media veteran Sharon Mussalli as CEO--its first since the title was spun off from Vox Media in April. The newly independent publisher is now owned by... Continue reading at AdWeek
[ AdWeek | 2023-12-19 09:31:39 UTC ]
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This year, 100% of Hachette Book Group's overall paper usage came from Forest Stewardship Certified and Sustainable Forestry Initiative fiber. Use of recycled fiber, however, fell. Continue reading at Publishers Weekly
[ Publishers Weekly | 2023-12-19 05:00:00 UTC ]
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England's merged Cambridge University Press & and Assessment reports record revenues and numbers of users in 2022-2023. The post Year End: Cambridge University Press Reports Record £1 Billion in Revenue appeared first on Publishing Perspectives. Continue reading at Publishing Perspectives
[ Publishing Perspectives | 2023-12-12 20:15:01 UTC ]
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