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 ]
Slate correspondent Justin Peters is on leave this year while he writes a book based on his February 2013 Slate profile of the Internet activist Aaron Swartz. He has been sending regular progress reports to friends, family, readers, and others interested in getting an inside look at the... Continue reading at Slate
[ Slate | 2014-06-12 00:00:00 UTC ]
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Shares in Time Inc., owner of People, Sports Illustrated and Time magazines, were off nearly 1% to $23.30 Monday, its first day of trading as a public company.The company's share price had tumbled about 4% after trading began but regained much of the lost ground during the afternoon.Time Inc. is... Continue reading at Advertising Age
[ Advertising Age | 2014-06-10 00:00:00 UTC ]
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HarperCollins' digital Romance Festival, held this weekend, notched up over six thousand... Continue reading at The Bookseller
[ The Bookseller | 2014-06-09 00:00:00 UTC ]
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Company hit by launch of Stylist in France and investment in fashion website Never UnderdressedMagazine publisher ShortList Media has reported a loss of almost £1m in its most recent annual accounts after being hit by the tough launch of Stylist in France and investing in fashion site Never... Continue reading at The Guardian
[ The Guardian | 2014-06-06 00:00:00 UTC ]
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The bestselling iBooks in mystery, romance, sci-fi, biography, fiction, children & teens, and more for the week ended June 1, 2014. Continue reading at Publishers Weekly
[ Publishers Weekly | 2014-06-05 00:00:00 UTC ]
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As part of the ongoing transition of the traditional print media, Digital First Media is putting the Daily News' Diamond Avenue building up for sale. The Daily News will relocate to a smaller building elsewhere in the city, said Publisher Gre ... Continue reading at Editor & Publisher
[ Editor & Publisher | 2014-06-04 00:00:00 UTC ]
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More people are buying more books than ever, and more people are making a living by writing them. Why do millionaire authors want to destroy the one company that's made this all possible?As an author of ten novels legacy-published, self-published, and Amazon-published I'm bewildered by the... Continue reading at The Guardian
[ The Guardian | 2014-06-04 00:00:00 UTC ]
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People magazine lost roughly a dozen staff members to layoffs and buyouts last week, according to people familiar with the matter. The departures come just before Time Inc., owner of People, starts to trade independently of Time Warner on Monday, June 9.People is the largest money maker at Time... Continue reading at Advertising Age
[ Advertising Age | 2014-06-03 00:00:00 UTC ]
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To celebrate its 50th anniversary, Cameron + Company will be pouring martinis today, 3–4 p.m., at its booth (1223A) in the PGW section. The party also celebrates the 50th Anniversary Edition of The Drinking Man’s Diet, originally published in 1964 by the company’s founder, Robert Cameron. Continue reading at Publishers Weekly
[ Publishers Weekly | 2014-05-30 00:00:00 UTC ]
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As questions continue to swirl about Hillary Clinton’s potential run for the presidency in 2016, her still-unpublished book, "Hard Choices" (Simon & Schuster), was the most buzzed about title on social media in May. Continue reading at Publishers Weekly
[ Publishers Weekly | 2014-05-30 00:00:00 UTC ]
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For publishers of religion books aimed at young readers, it's easier than ever to find readers. Continue reading at Publishers Weekly
[ Publishers Weekly | 2014-05-29 00:00:00 UTC ]
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Children’s authors and books will, as always, be well represented at this year’s Indies Choice Book Awards and E.B. White Read-Aloud Awards ceremony, which takes place during today’s Celebration of Bookselling luncheon. Continue reading at Publishers Weekly
[ Publishers Weekly | 2014-05-29 00:00:00 UTC ]
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Booksellers on the lookout for recent and forthcoming offerings from children’s publishers will catch an eyeful as they roam the aisles. Continue reading at Publishers Weekly
[ Publishers Weekly | 2014-05-29 00:00:00 UTC ]
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Amazon.com said it is "not optimistic" that a dispute with publisher Hachette Book Group will be resolved soon and added that it is acting "on behalf of customers."The comments, which Amazon made yesterday in an online post, are the first extensive remarks by the world's largest online retailer... Continue reading at Advertising Age
[ Advertising Age | 2014-05-28 00:00:00 UTC ]
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If you're hoping to pre-order books by J.K. Rowling, Michael Connelly and other Hachette Book Group authors, you'll have to go somewhere besides Amazon.com. Continue reading at Los Angeles Times
[ Los Angeles Times | 2014-05-27 00:00:00 UTC ]
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Trends Media Group is China’s leading fashion publishing house. Chairman Liu Jiang discusses his diversification plans to secure its future. Continue reading at Knowledge@Wharton
[ Knowledge@Wharton | 2014-05-20 00:00:00 UTC ]
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Among the issues in dispute between Amazon and the Hachette Book Group are negotiations over new ebook terms, sources familiar with the matter said. And publishers also see the latest fight with Amazon as part of an ongoing battle to retain retail diversity. Continue reading at Publishers Weekly
[ Publishers Weekly | 2014-05-12 00:00:00 UTC ]
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The San Francisco-based McEvoy Group, owner of Chronicle Books, has acquired children's book and gift publisher, I See Me! Continue reading at Publishers Weekly
[ Publishers Weekly | 2014-05-08 00:00:00 UTC ]
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World Book Night U.S., an ambitious nonprofit campaign to promote reading throughout the country, is reporting stronger-than-ever media attention for its just-finished April 2014 push. Continue reading at Publishers Weekly
[ Publishers Weekly | 2014-05-07 00:00:00 UTC ]
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Dan Lubart, formerly senior v-p of sales analytics and pricing at HarperCollins, has been named senior v-p, strategy and publishing operations at the Hachette Book Group effective immediately. Continue reading at Publishers Weekly
[ Publishers Weekly | 2014-05-06 00:00:00 UTC ]
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