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 ]
Rupert Murdoch's News Corp. has expressed interest in buying book publisher Penguin Group, potentially undermining merger discussions between Penguin and Random House, people familiar with the situation said. Continue reading at AllThingsD
[ AllThingsD | 2012-10-29 00:00:00 UTC ]
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Frank Cottrell Boyce’s The Unforgotten Coat, published by Walker, has won the 2012 Guardian... Continue reading at The Bookseller
[ The Bookseller | 2012-10-25 00:00:00 UTC ]
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#fiction prize
10 facts about media and content industries 1. Digitization has increased book sales. Expenditure on electronic books almost doubled each year in 2006-2010 but still amounts to only 3% of global book sales. Forecasts however predict that reve ... Continue reading at Editor & Publisher
[ Editor & Publisher | 2012-10-25 00:00:00 UTC ]
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An online book discussion forum is the latest venture from the triborough library services in... Continue reading at The Bookseller
[ The Bookseller | 2012-10-25 00:00:00 UTC ]
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Yesterday will not be remembered as a great day in Google's history. As well as the vertiginous stock slide, which sliced 9% off its share value before trading was halted for a couple of hours, the search engine firm threatened war with the French media. L'horage dans le teacup is over a... Continue reading at Fast Company
[ Fast Company | 2012-10-19 00:00:00 UTC ]
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#bad news
Haynes Publishing is launching its first range of ebooks and selling them independently through... Continue reading at The Bookseller
[ The Bookseller | 2012-10-16 00:00:00 UTC ]
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One of Germany’s largest retail groups is changing ownership in a deal that is anxiously... Continue reading at The Bookseller
[ The Bookseller | 2012-10-16 00:00:00 UTC ]
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The Kindle Paperwhite is go on sale through Waterstones stores by the end of the month, the... Continue reading at The Bookseller
[ The Bookseller | 2012-10-16 00:00:00 UTC ]
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Active Interest Media (AIM) and Restore Media have agreed to partner in production of their historic home and building brands, the companies announced today. AIM Continue reading at Folio Magazine
[ Folio Magazine | 2012-10-09 00:00:00 UTC ]
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#building brands
Bestselling author Sir Terry Pratchett has set up his own multimedia production company,... Continue reading at The Bookseller
[ The Bookseller | 2012-10-01 00:00:00 UTC ]
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Dickens or Denisovich? Mailer or Malamud? This professor agonized over the reading list for a class of prison inmates. Continue reading at The Christian Science Monitor
[ The Christian Science Monitor | 2012-09-28 00:00:00 UTC ]
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J K Rowling's The Casual Vacancy has become "the fastest-selling book in the UK in three... Continue reading at The Bookseller
[ The Bookseller | 2012-09-28 00:00:00 UTC ]
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Investcorp has put New York-based publisher SourceMedia up for sale, according to multiple sources. SourceMedia, which provides news, analysis and research in the b-to-b space through publications Continue reading at Folio Magazine
[ Folio Magazine | 2012-09-28 00:00:00 UTC ]
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Barnes & Noble has announced it is to launch two tablets simultaneously in the UK and the US... Continue reading at The Bookseller
[ The Bookseller | 2012-09-26 00:00:00 UTC ]
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Egmont UK is embarking on a drive to secure creative partnerships with children's... Continue reading at The Bookseller
[ The Bookseller | 2012-09-25 00:00:00 UTC ]
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Barnes & Noble has announced Dixons as another British retail partner to sell Nook devices.... Continue reading at The Bookseller
[ The Bookseller | 2012-09-25 00:00:00 UTC ]
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Barnes & Noble has announced Dixons as another British retail partner to sell Nook devices.... Continue reading at The Bookseller
[ The Bookseller | 2012-09-25 00:00:00 UTC ]
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YUDU Media is to make a push into the education market with the launch of YUDU Education, a new... Continue reading at The Bookseller
[ The Bookseller | 2012-09-24 00:00:00 UTC ]
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Kobo has announced a partnership to sell its e-readers through Fnac stores in Portugal as it ups... Continue reading at The Bookseller
[ The Bookseller | 2012-09-24 00:00:00 UTC ]
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Manhattan Media, publisher of local weeklies Our Town and The West Side Spirit whose CEO Tom Allon is running for mayor, is on the block, according to two people with knowledge of the situation. Since its founding 11 years ago by Mr. Allon and Richard Burns, managing partner of Isis Venture... Continue reading at Crains New York
[ Crains New York | 2012-09-12 00:00:00 UTC ]
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