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 ]
Small publisher Stinging Fly Press will compete against the major houses for the £10,000... Continue reading at The Bookseller
[ The Bookseller | 2012-08-31 00:00:00 UTC ]
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Blackwell's, Foyles and Argos will sell Barnes & Noble’s Nook in the UK from... Continue reading at The Bookseller
[ The Bookseller | 2012-08-30 00:00:00 UTC ]
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Community groups in West Yorkshire are banding together in an attempt to take over libraries... Continue reading at The Bookseller
[ The Bookseller | 2012-08-29 00:00:00 UTC ]
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John Lewis has been named as the first retailer to sell Barnes & Noble’s Nook e-reader... Continue reading at The Bookseller
[ The Bookseller | 2012-08-28 00:00:00 UTC ]
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HarperCollins UK c.e.o. Victoria Barnsley has predicted that half her company’s revenue... Continue reading at The Bookseller
[ The Bookseller | 2012-08-28 00:00:00 UTC ]
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In a new study produced by the MPA, the Association of Magazine Media, and research firm GfK MRI, data reveals that Millennial magazine media readers aged 18 to 34 believe that technology has improved their experience of accessing various media—including magazines. Continue reading at Folio Magazine
[ Folio Magazine | 2012-08-27 00:00:00 UTC ]
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The newspaper business’s reliance on the industrial machine of printing and distributing is often understated. It’s a delicate ecosystem that can have a real effect on publisher margins – as the fluctuation in newsprint ... Continue reading at Editor & Publisher
[ Editor & Publisher | 2012-08-24 00:00:00 UTC ]
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Swedish crime writer Camilla Läckberg has seen international success since releasing her 2003 debut, Ice Princess (published in 2010 by Pegasus), and to date her books have been translated into 33 languages. In France, her 2008 novel The Drowning was the top title. Earlier this year, Pegasus... Continue reading at Publishers Weekly
[ Publishers Weekly | 2012-08-17 00:00:00 UTC ]
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You've bought rope for that special someone, picked up a few sex toys and read those Fifty Shades of Grey books a time or three. You know who you are. Well, no need to skulk about at naughty shops or the hardware store as Fifty Shades of Consumption makes it further into the mainstream. Stuart... Continue reading at Crains New York
[ Crains New York | 2012-08-16 00:00:00 UTC ]
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Warren Buffett's Berkshire Hathaway Inc. has nearly doubled its stake in newspaper publisher Lee Enterprises, the parent company of the St. Louis Post-Dispatch. Lee's shares jumped nearly 20 percent on the news Wednesday, closing at $1 ... Continue reading at Editor & Publisher
[ Editor & Publisher | 2012-08-16 00:00:00 UTC ]
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At a time when some university presses have cut back their publishing program or changed course, the MIT Press, which celebrated its first 50 years this spring, continues to look to the future—“relentlessly,” according to editorial director Gita Manaktala. “The retrospective glance doesn’t come... Continue reading at Publishers Weekly
[ Publishers Weekly | 2012-08-10 00:00:00 UTC ]
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Social media is young and its impact on news publishing is still unfolding. It’s unlikely that sharing and commenting will be the only major trends to emerge from the social revolution. News publishers, already beset by extraordinary change ... Continue reading at Editor & Publisher
[ Editor & Publisher | 2012-07-30 00:00:00 UTC ]
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For serial entrepreneur John Ossenmacher, cofounder, president, and CEO of ReDigi, which bills itself as “the world’s first pre-owned digital marketplace,” the copyright infringement case filed by Capitol Records in U.S. District Court in Manhattan at the start of the year to shut it down is... Continue reading at Publishers Weekly
[ Publishers Weekly | 2012-07-27 00:00:00 UTC ]
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The editor of Newsweek Daily Beast wrote to reassure staff members after comments by Barry Diller about the future of a print version of the magazine. Continue reading at The New York Times
[ The New York Times | 2012-07-26 00:00:00 UTC ]
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As print continues to decline and digital often struggles to live up to the hype, events are offering higher profits than print and, for many publishers, far higher revenues than digital. Luxury consumer magazine and media company Dwell, however, is leveraging all of these different groups and... Continue reading at Folio Magazine
[ Folio Magazine | 2012-07-26 00:00:00 UTC ]
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When Erin Morgenstern’s first novel, The Night Circus, debuted last September, PW predicted in a starred review that this magical tale was destined for bestsellerdom. The hardcover went on to sell 167,000 copies through the outlets tracked by Nielsen BookScan, and the paperback, which was... Continue reading at Publishers Weekly
[ Publishers Weekly | 2012-07-20 00:00:00 UTC ]
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The publisher has bought a Bloomington, Ind.-based company called Author Solutions, which so far has attracted 150,000 authors releasing their own books. Continue reading at The New York Times
[ The New York Times | 2012-07-19 00:00:00 UTC ]
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The ebook format became the most popular one for adult fiction in 2011, surpassing hardcover books and paperbacks, according to an annual survey. Net revenue from ebook sales over all more than doubled from 2010. Continue reading at The New York Times
[ The New York Times | 2012-07-18 00:00:00 UTC ]
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Chen Guangcheng, whose nighttime escape and conflict with the Chinese government led to a diplomatic crisis for the United States last spring, is writing a memoir to be published next year. Continue reading at The New York Times
[ The New York Times | 2012-07-18 00:00:00 UTC ]
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Bookshops are being offered 40% commission on the sale of books simply by hanging a poster in... Continue reading at The Bookseller
[ The Bookseller | 2012-07-13 00:00:00 UTC ]
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