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 ]
Life of Pi has sold 'pi' number of books, selling 3,141,593 copies in all editions.... Continue reading at The Bookseller
[ The Bookseller | 2013-02-20 00:00:00 UTC ]
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"Horrible Histories" author Terry Deary told a newspaper that public libraries are a drain on government resources that deprive authors of royalty checks. Best-selling childrens' book author Terry Deary has become the first major writer to speak up against the concept of public libraries. In... Continue reading at Fast Company
[ Fast Company | 2013-02-19 00:00:00 UTC ]
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Time Warner is in talks to sell a large portion of its Time Inc. magazine division, including People, InStyle and Real Simple, according to a report Wednesday afternoon by Fortune.Headed for Meredith, Berkshire Hathaway or nowhere new after all?Fortune is itself a Time Inc. magazine but reported... Continue reading at Crains New York
[ Crains New York | 2013-02-14 00:00:00 UTC ]
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Amazon has patented a technology that allows customers to sell their previously read ebooks, audiobooks, music and movies in the same way that they can now sell print books, DVDs, and CDs. Continue reading at Publishing Perspectives
[ Publishing Perspectives | 2013-02-12 00:00:00 UTC ]
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Quercus Children's is planning to expand its list by 50% over the next two years, with growth... Continue reading at The Bookseller
[ The Bookseller | 2013-02-11 00:00:00 UTC ]
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Agent Juliet Mushens has joined Jonathan Conway at The Agency Group, as it opens a new UK... Continue reading at The Bookseller
[ The Bookseller | 2013-02-05 00:00:00 UTC ]
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The year 2012 opened in dramatic fashion with magazine media-related deals. From Hanley Wood’s recapitalization to the final sell-off the remaining segments of what once was the massive Ziff Davis, 2012 saw its fair share of deals that involved traditional media brands as well as the... Continue reading at Folio Magazine
[ Folio Magazine | 2013-01-30 00:00:00 UTC ]
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There will be a lot fewer old-fashioned books in the Big Apple over the next decade. Barnes & Noble announced Monday morning that it is planning to prune between 189 and 239 stores by 2023, from its current total of 689. Local real estate brokers speculate that some of those locations will... Continue reading at Crains New York
[ Crains New York | 2013-01-29 00:00:00 UTC ]
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When it comes to book marketing, social media is a honeytrap, never quite delivering on its promises, but a few simple best practices can vastly improve your results. Continue reading at Publishing Perspectives
[ Publishing Perspectives | 2013-01-29 00:00:00 UTC ]
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Possibly the most successful house maid in the world, the children's book character Amelia Bedelia turns 50 on Tuesday. More than 35 million copies of the books have sold. Continue reading at ABC News
[ ABC News | 2013-01-29 00:00:00 UTC ]
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J.K. Rowling’s The Casual Vacancy debuted at #3 on the fiction chart in Spain in December, good enough to place it right behind Fifty Shades of Grey, which held steady at #2. Continue reading at Publishers Weekly
[ Publishers Weekly | 2013-01-26 00:00:00 UTC ]
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Major publishers are taking wildly different approaches to resolving the woes surrounding ebook lending at libraries: they're experimenting with both the short-yet-cheap subscription as well as an expensive option to pay only once for perpetual use. Sure enough, we're now seeing the middle road.... Continue reading at Engadget
[ Engadget | 2013-01-26 00:00:00 UTC ]
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The group title under which the combined lists of Frances Lincoln, Aurum Press, Jacqui Small,... Continue reading at The Bookseller
[ The Bookseller | 2013-01-25 00:00:00 UTC ]
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This week on PublishNews Brazil: Amazon partners with a kiosk-retailer to sell Kindles in Brazil, Kobo launches two new ereaders, 33% of Brazilians read a book last month. Continue reading at Publishing Perspectives
[ Publishing Perspectives | 2013-01-17 00:00:00 UTC ]
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Non-executive chairman of Blackwell's, Trevor Goul-Wheeker, has joined sports publishing firm... Continue reading at The Bookseller
[ The Bookseller | 2013-01-16 00:00:00 UTC ]
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Random House has Random House Films. Macmillan has Macmillan Films. And Penguin? Although the house has been low-key about the ways it has begun to dip its corporate toes into film production, and Hollywood, it, too, is making inroads there. One way is with Penguin Development Group. Continue reading at Publishers Weekly
[ Publishers Weekly | 2013-01-11 00:00:00 UTC ]
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McDonald's has launched a two-year children’s books campaign, committing to "hand... Continue reading at The Bookseller
[ The Bookseller | 2013-01-09 00:00:00 UTC ]
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Fresh from apparently wrangling online content fees from Google last month, Belgian newspaper websites will, in 2013, launch an industry-wide platform to take back their readers. Major Flemish- and French-language newspaper publishers, magazine publ ... Continue reading at Editor & Publisher
[ Editor & Publisher | 2013-01-02 00:00:00 UTC ]
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Publishing and education company Pearson PLC agreed to invest $89.5 million for a 5 percent stake in Barnes & Noble Inc.'s digital-business unit, Nook Media LLC. Continue reading at AllThingsD
[ AllThingsD | 2012-12-29 00:00:00 UTC ]
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Amazon closed a deal in Brazil with Bookstore chain Livraria da Vila to sell Kindles through the remainder of 2012 until January 2013. Continue reading at Publishing Perspectives
[ Publishing Perspectives | 2012-12-19 00:00:00 UTC ]
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