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 ]
A memoir by the father of Scientology leader David Miscavige sold just under 500 copies in two days this week, according to Silvertail publisher Humfrey Hunter, who pressed ahead with publication despite a warning of legal action. Continue reading at The Bookseller
[ The Bookseller | 2016-05-07 00:00:00 UTC ]
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Bookshops in Oxfordshire and Southampton are among the latest independents to open in the UK - with a twist. Continue reading at The Bookseller
[ The Bookseller | 2016-04-29 00:00:00 UTC ]
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Justin Smith says social network makes far more money from ads in its news feed than news organisations do from linked trafficNewspapers, magazines and other publishers are “feeding on the scraps” of Facebook’s multibillion-dollar ad business despite playing a central role in keeping the social... Continue reading at The Guardian
[ The Guardian | 2016-04-29 00:00:00 UTC ]
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The Frankfurt Book Fair (FBF) has taken a majority shareholding in global rights and licensing trading platform, IPR License Ltd. Continue reading at The Bookseller
[ The Bookseller | 2016-04-29 00:00:00 UTC ]
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Helped by a strong performance in its cloud services group, Amazon reported an operating profit of $1.1 billion in the first quarter ended March 31, 2016 compared to $255 million in the 2015 first quarter. Continue reading at Publishers Weekly
[ Publishers Weekly | 2016-04-28 00:00:00 UTC ]
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Kelly McCracken, formerly director of shared services at Franciscan Media, has been appointed president of the Catholic publishing house. Continue reading at Publishers Weekly
[ Publishers Weekly | 2016-04-28 00:00:00 UTC ]
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Danaerys and Melisandre are among the stars from the HBO series to be turned into figuresWith its penchant for flaying, beheading and generally dying in any way other than peacefully in your sleep, Game of Thrones is an unlikely source of spin-off toy merchandise.And yet if adults can while away... Continue reading at The Guardian
[ The Guardian | 2016-04-27 00:00:00 UTC ]
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Elders and his digital media sales savvy arrive at Time Inc. from AOL's branded content studio. The post Brad Elders Joins Time Inc. as Sports Illustrated Group Publisher appeared first on Folio:. Continue reading at Folio Magazine
[ Folio Magazine | 2016-04-27 00:00:00 UTC ]
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'Hamilton: The Revolution' by Lin-Manuel Miranda and veteran reporter Jeremy McCarter has hit #1 on the PW's nonfiction bestseller list, and is currently out of stock on Amazon. Continue reading at Publishers Weekly
[ Publishers Weekly | 2016-04-22 00:00:00 UTC ]
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Kathryn Schulz and Emily Nussbaum win for Feature Writing and Criticism, respectively. The post The New Yorker Wins Two Pulitzers in a First for Magazine Media appeared first on Folio:. Continue reading at Folio Magazine
[ Folio Magazine | 2016-04-19 00:00:00 UTC ]
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Changes in technology like ad blocking, and the dominance of platforms like Facebook leave many publishers unsure of how they will make money. Continue reading at The New York Times
[ The New York Times | 2016-04-18 00:00:00 UTC ]
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In response to Sherman Alexie’s decision to cancel an appearance in North Carolina and concerns that more cancellations could follow, the ABA and other book-related groups asked authors not to punish booksellers. Continue reading at Publishers Weekly
[ Publishers Weekly | 2016-04-14 00:00:00 UTC ]
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Of the many talking points Tuesday at Facebook's F8 conference, two stood out because of their potential ramifications: the full rollout of Instant Articles and Facebook Live opening up to developers. We did a quick poll of tech players to gain insight into whether media companies should fear... Continue reading at AdWeek
[ AdWeek | 2016-04-13 00:00:00 UTC ]
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Leadership shuffle sees Long replace Eric Danetz; Jorg Strattman promoted to associate publisher. The post Meredith Long Named Group Publisher of Time, Fortune, and Money appeared first on Folio:. Continue reading at Folio Magazine
[ Folio Magazine | 2016-04-12 00:00:00 UTC ]
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Japanese manga publisher Kadokawa has taken a 51% stake in Hachette's manga imprint. Kodakawa plans to turn the imprint into Yen Press LLC, a joint venture between the two publishers. Continue reading at Publishers Weekly
[ Publishers Weekly | 2016-04-11 00:00:00 UTC ]
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They’ve become the voice of the millennials and now films, TV shows, book deals and live tours are followingYou may not have heard of Joe Sugg and Caspar Lee, but these British YouTube stars have more than 11 million subscribers and more than one billion views on Google’s online video service.... Continue reading at The Guardian
[ The Guardian | 2016-04-09 00:00:00 UTC ]
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The recent co-owner of Minneapolis's Once Upon a Crime Bookstore, which is a fixture in the Twin Cities' literary community, died on Wednesday afternoon of leukemia. He was 66. Continue reading at Publishers Weekly
[ Publishers Weekly | 2016-04-08 00:00:00 UTC ]
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Business Insider says it did 1 billion views on Facebook in March. The milestone comes just eight months after the company started publishing videos directly to the social network. The focus on social distribution has also driven a more “nuanced” approach to how Business Insider staffs its video... Continue reading at Digiday
[ Digiday | 2016-04-08 00:00:00 UTC ]
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The Guardian First Book Award is to close after 17 years due to a crowded "awards landscape" and the financial constraints of running the prize. Continue reading at The Bookseller
[ The Bookseller | 2016-04-08 00:00:00 UTC ]
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Hodder Children’s Books, part of Hachette Children’s Group, has sold Italian rights to Andy Riley’s upcoming children’s title, King Flashypants and the Evil Emperor. Continue reading at The Bookseller
[ The Bookseller | 2016-04-07 00:00:00 UTC ]
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