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 ]
'Fifty Shades of Grey' by E.L. James and sequels are an ebook and paperback phenomenon that is also causing a sales spike in sex shops. How did it all happen?The staff of the Pleasure Chest, a high-end West Hollywood sex shop, were first tipped to the "Fifty Shades of Grey" phenomenon by their... Continue reading at Los Angeles Times
[ Los Angeles Times | 2012-04-17 00:00:00 UTC ]
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The Huffington Post—and digital media—has won its first Pulitzer Prize. The award went to David Wood, in the category of national reporting, it was announced Monday by Columbia University, which administers the prizes.A longtime print journalist who did stints at Time magazine and the Los... Continue reading at Crains New York
[ Crains New York | 2012-04-17 00:00:00 UTC ]
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An unconventional collection of novels failed to generate a consensus among the Pulitzer board members. Continue reading at The New York Times
[ The New York Times | 2012-04-17 00:00:00 UTC ]
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Hot Keys Books has partnered with the Guardian to launch a new young person’s writing prize... Continue reading at The Bookseller
[ The Bookseller | 2012-04-17 00:00:00 UTC ]
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Hachette Livre has sold its ebook distribution platform Numilog to its founder and c.e.o. Denis... Continue reading at The Bookseller
[ The Bookseller | 2012-04-17 00:00:00 UTC ]
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An antitrust suit may provide short-term price reductions on ebooks, but once the competition is flattened, Amazon is likely to resume its monopolistic ways. Continue reading at The New York Times
[ The New York Times | 2012-04-16 00:00:00 UTC ]
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Amazon is paying authors $1 for every audiobook they sell if they sign up to its Audible Author... Continue reading at The Bookseller
[ The Bookseller | 2012-04-13 00:00:00 UTC ]
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Recognizing that collaboration in the industry has never been more important, the California Newspaper Publishers Association (CNPA) has joined forces with the Local Media Association (formerly Suburban Newspapers of America) to offer certain product ... Continue reading at Editor & Publisher
[ Editor & Publisher | 2012-04-11 00:00:00 UTC ]
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E-book price fixing will cost consumers more than US$200 million this year, and U.S. antitrust authorities should take action against Apple and a group of... Continue reading at PC World
[ PC World | 2012-04-10 00:00:00 UTC ]
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Fairfax Media is in exclusive talks to acquire the publisher of independent news and opinion website Business Spectator, Reuters says. Continue reading at The Sydney Morning Herald
[ The Sydney Morning Herald | 2012-04-10 00:00:00 UTC ]
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Google said the program, which allowed independent bookstores to sell ebooks through their Web sites, was not a success. Bookstores said it was a valuable platform that allowed them to give customers something they wanted. Continue reading at The New York Times
[ The New York Times | 2012-04-06 00:00:00 UTC ]
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Amazon's tax arrangements are in the spotlight this morning after national newspapers... Continue reading at The Bookseller
[ The Bookseller | 2012-04-05 00:00:00 UTC ]
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Greg Smith, the former Goldman executive who wrote a widely read Op-Ed in The New York Times about the changing culture at the Wall Street firm, has reported made a deal with Grand Central Publishing, part of Hachette. Continue reading at The New York Times
[ The New York Times | 2012-03-30 00:00:00 UTC ]
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It didn't take a Hogwarts magician to know this day would eventually come. The bookstore feature of J.K. Rowling's Pottermore website went live Tuesday, enabling English-language readers to buy the digital editions of all seven Harry Potter novels—and the audiobook editions—from anywhere in the... Continue reading at AllThingsD
[ AllThingsD | 2012-03-27 00:00:00 UTC ]
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Hachette Book Group has appointed Evan Schnittman to the role of executive vice president,... Continue reading at The Bookseller
[ The Bookseller | 2012-03-23 00:00:00 UTC ]
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Gary Pruitt, chairman and chief executive of the newspaper publisher McClatchy Company, becomes the 13th leader of The Associated Press. Continue reading at The New York Times
[ The New York Times | 2012-03-22 00:00:00 UTC ]
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Schoolchildren will be encouraged to cash in their World Book Day vouchers by visiting W H Smith... Continue reading at The Bookseller
[ The Bookseller | 2012-03-20 00:00:00 UTC ]
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This story first appears on FOLIO: sister site, minonline. Business-to-business media were in the forefront on March 16 as American Business Media presented its 58th annual Jesse H. Neal Awards at a New York luncheon. Continue reading at Folio Magazine
[ Folio Magazine | 2012-03-19 00:00:00 UTC ]
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In reckoning with her friend's suicide, the author pulls readers into that empty space where loss and grief reside.The Guardians: An Elegy Continue reading at Los Angeles Times
[ Los Angeles Times | 2012-03-18 00:00:00 UTC ]
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Raffaele Sollecito, the Italian student who was dating Ms. Knox when they were both charged with murder in 2007, will write his own memoir, for an imprint of Simon & Schuster. Continue reading at The New York Times
[ The New York Times | 2012-03-16 00:00:00 UTC ]
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