The world's largest exhibitions organizer, London-based Informa plc, outlined on Thursday morning a series of emergency actions it's taking to alleviate the impact of the COVID-19 pandemic on its events business, which drives nearly two-thirds of the company's overall revenues. Noting that the effects have been "significantly deeper, more volatile and wide-reaching," than was initially anticipated, the company says it's temporarily suspending dividends, cutting executive pay and issuing new shares worth about 20% of its total existing capital in an effort to strengthen its balance sheet and reduce its approximately £2.4 billion ($2.9 billion) in debt to £1.4 billion ($1.7 billion). Further, Informa says it's engaged in "constructive discussions" with its U.S.-based debt holders over a covenant waiver agreement. “Since the beginning of 2020, the impact of the COVID-19 pandemic has become progressively deeper and more far-reaching than initially predicted," said CEO Stephen Carter in a statement. "We have continued to adapt and respond quickly, always prioritizing the safety of colleagues and customers, making decisions for the long-term value of our brands and businesses and seeking to preserve jobs and invest in our intellectual property.” Informa says it's achieved more than £130 million ($162 million) in savings in part by pausing company-wide recruitment, salary reviews and merit raises and suspending its sabbatical program. Additionally, Carter and CFO Gareth Wright... Continue reading at 'Folio Magazine'
[ Folio Magazine | 2020-04-16 18:02:14 UTC ]
Investors’ revolt against deal for John Fallon comes after educational publisher reports largest annual loss in its historyMore than six out of 10 Pearson shareholders have voted against the £1.5m pay package awarded to the embattled chief executive, John Fallon, after the educational publisher... Continue reading at The Guardian
[ The Guardian | 2017-05-05 00:00:00 UTC ]
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After the Scandi noir boom, dark tales from British authors are making waves abroad. Publishers, agents and authors take up the caseWhen ex-paramedic Daniel Cole signed with agent Sue Armstrong, he was “delighted”. When Armstrong bagged him a six-figure, three-book deal from a British publisher... Continue reading at The Guardian
[ The Guardian | 2017-04-27 00:00:00 UTC ]
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Local newspaper publisher, whose titles include the Eastern Daily Press and Ham & High, achieves 20% increase without cutting staffLocal newspaper publisher Archant is to pay its first dividend since 2012 after recording a 20% increase in profits to £9.6m in 2015.The Norwich-based publisher,... Continue reading at The Guardian
[ The Guardian | 2016-03-18 00:00:00 UTC ]
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Mogul receives fewer stock awards after company plunges to $149m loss, as it is revealed he met Scottish first minister Nicola Sturgeon in New York in JuneRupert Murdoch took a 40% pay cut for the year ending 30 June as his total package for being executive chairman of News Corp fell from $8.7m... Continue reading at The Guardian
[ The Guardian | 2015-09-02 00:00:00 UTC ]
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Taylor & Francis's parent company Informa has acquired independent humanities and social sciences publisher Ashgate Publishing for £20m. Ashgate has over 14,000 titles. Informa said: "Its experienced team and strong brands will be highly complementary to our other major HSS [humanities... Continue reading at The Bookseller
[ The Bookseller | 2015-07-29 00:00:00 UTC ]
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Publishing company News Corp. said its finances are in good shape and that it would begin paying investors a semiannual cash dividend. Continue reading at Los Angeles Times
[ Los Angeles Times | 2015-06-18 00:00:00 UTC ]
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Paul Tash, CEO and chairman of the Times, announced the cuts in a memo to employees Thursday, citing a difficult summer that resulted in lower than expected revenue. "Newspaper publishing remains a tough business," he wrote. Anticipating jo ... Continue reading at Editor & Publisher
[ Editor & Publisher | 2014-09-19 00:00:00 UTC ]
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Book publishing is a business of high stakes gambles—and trade book publishers continue to make the right bets.Helped by blockbuster titles Fifty Shades of Grey and The Hunger Games, the industry posted net revenue of $7.1 billion in 2012, up 6.2% from the prior year, according to the... Continue reading at Crains New York
[ Crains New York | 2013-04-12 00:00:00 UTC ]
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Pearson chief executive Marjorie Scardino earned almost £2.5m in 2011, down on £2.... Continue reading at The Bookseller
[ The Bookseller | 2012-03-26 00:00:00 UTC ]
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Back in 1984, I wrote a book that sold to a lot of libraries. It stayed on the shelves for over a decade. If it had been an ebook published today by HarperCollins, there's a good chance it would have been off those shelves within a year. Or sooner. Continue reading at PC World
[ PC World | 2011-03-05 00:00:00 UTC ]
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Adweek, the leading source of news, insights and intelligence for the marketing and advertising industry, today announced it has hired former Vice President and General Manager of People, Zoe Ruderman as Chief Content Officer and Drew Schutte, former executive at Conde Nast titles The New... Continue reading at AdWeek
[ AdWeek | 2023-11-30 19:30:00 UTC ]
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it is impossible for publishing to fulfil its own diversity agenda while continuing to pay low wages to most workers and to maintain its decades-long secrecy over pay and progression Continue reading at The Bookseller
[ The Bookseller | 2020-06-11 23:48:14 UTC ]
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Heather Morris’ The Tattooist of Auschwitz (Zaffre) has secured a fourth non-consecutive week in the UK Official Top 50 number one spot, selling 17,106 copies through Nielsen BookScan’s TCM—a bump of 11% in volume week on week. Continue reading at The Bookseller
[ The Bookseller | 2019-02-06 00:00:00 UTC ]
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Publishing giant to pay more than 7,000 interns between $700 and $1,900 after lawsuit said some had been paid less than a dollar an hourTell us: how did you get by when working an unpaid internship? Continue reading... Continue reading at The Guardian
[ The Guardian | 2014-11-15 00:00:00 UTC ]
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Deal part of Google News Initiative to fund various journalism projects and content from news organizations. Continue reading at Silicon Valley Business Journal
[ Silicon Valley Business Journal | 2024-05-01 13:36:48 UTC ]
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One of the great embarrassments of New York, the richest city in America, is how money can’t be found to keep public libraries open every single day.It is, truly, a matter of priorities. Other far-reaching, progressive policy proposals can come with enormous upfront costs — municipal or... Continue reading at Crains New York
[ Crains New York | 2024-04-29 15:50:14 UTC ]
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As baby boomers have aged, they have accumulated more assets leading to more discretionary spending. Since retiring two years ago, Joan Harris has upped her travel game.Once or twice a year, she visits her two adult children in different states. She’s planning multiple other trips, including to... Continue reading at Fast Company
[ Fast Company | 2024-04-29 13:22:05 UTC ]
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Exclusive: Ernest Moret was held en route to a book fair amid fears police are using counter-terrorism powers to target activistsA French publisher who was arrested in London by counter-terror officers has been awarded “substantial” damages by the Metropolitan police, as new figures reveal... Continue reading at The Guardian
[ The Guardian | 2024-04-29 06:00:25 UTC ]
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Mayor Eric Adams’ nearly $112 billion executive budget, released Wednesday, includes more than $5 billion for health care initiatives, a figure that has grown by $172 million since his January preliminary budget.The revised plan avoids new spending cuts for city agencies and paints a rosier... Continue reading at Crains New York
[ Crains New York | 2024-04-25 09:33:07 UTC ]
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Nine digital publishing execs that spoke with Digiday said they are investing in other social platforms like Instagram and TikTok to grow their reach. But the question remains if these strategies can actually make up the social referral deficit. Continue reading at Digiday
[ Digiday | 2024-04-10 04:01:00 UTC ]
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