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 ]
Reaching its 15th anniversary, the Emirates Publishers Association opens a 10-million-dirham fund that includes a business incubator. The post Emirates Publishers Association Issues 10-Million-Dirham Fund appeared first on Publishing Perspectives. Continue reading at Publishing Perspectives
[ Publishing Perspectives | 2024-04-02 13:37:26 UTC ]
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Madeline McIntosh, Nina von Moltke, and Don Weisberg—most recently at Penguin Random House US and Macmillan, respectively—have joined forces to form a new publishing company. As its name implies, the publisher will operate outside of traditional publishing business models. Continue reading at Publishers Weekly
[ Publishers Weekly | 2024-03-05 05:00:00 UTC ]
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An Australian startup that recently hired a new North American president plans to grow its U.S. headquarters in Denver. The startup is a digital platform that helps privately owned businesses determine their valuation. It also helps create a roadmap for a successful exit, which could include a... Continue reading at Silicon Valley Business Journal
[ Silicon Valley Business Journal | 2024-02-28 13:09:19 UTC ]
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Two prominent novelists have broken with PEN America over the organization’s decision to platform controversial actor and outspoken ceasefire opponent Mayim Bialik, as well as its relative silence on the unfolding genocide in Gaza (which so far has claimed the lives of at least 120 writers,... Continue reading at Literrary Hub
[ Literrary Hub | 2024-01-31 20:56:06 UTC ]
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Normally slow-moving, bestseller charts in China highlighted nonfiction on legal issues in December. The post China Bestsellers December: Legal-Issues Nonfiction appeared first on Publishing Perspectives. Continue reading at Publishing Perspectives
[ Publishing Perspectives | 2024-01-24 19:33:25 UTC ]
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McIlveen was previously editor-in-chief of news.com.au and founding editor of Daily Mail Australia. He takes on Tory Maguire’s former role at the Age and SMHFollow our Australia news live blog for latest updatesGet our morning and afternoon news emails, free app or daily news podcastFormer News... Continue reading at The Guardian
[ The Guardian | 2024-01-22 04:15:05 UTC ]
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Amazon-owned online audiobook and podcast service Audible is laying off about 5% of its workforce Continue reading at ABC News
[ ABC News | 2024-01-11 22:47:05 UTC ]
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When I’m away from home and don’t have access to my big desktop displays, it feels like I’m missing a limb. Unfortunately, there’s a limit to how big a portable monitor can really be. After a certain point, it’s not going to fit in a reasonably sized bag. ASUS’s ZenScreen Fold solves that... Continue reading at Engadget
[ Engadget | 2024-01-10 20:40:09 UTC ]
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In addition to announcing changes to its executive committee, the Book Industry Charitable Foundation this week named three new board members: Christian publisher Chriscynethia Floyd, former Abrams CEO Michael Jacobs, and Vermont bookseller Emma Kaas. Continue reading at Publishers Weekly
[ Publishers Weekly | 2024-01-10 05:00:00 UTC ]
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OpenAI will pay German publisher Axel Springer to use its news articles to train its AI models and show real-time information from Axel Springer's brands, which include Business Insider and Politico in the US and Bild and Welt in Europe, in ChatGPT’s responses. None of the companies disclosed... Continue reading at Engadget
[ Engadget | 2023-12-13 20:03:27 UTC ]
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Payment revealed after ABC agreed to pay him $150,000 and remove Facebook video of Brittany Higgins and Grace Tame speech at National Press ClubGet our morning and afternoon news emails,free app or daily news podcastNews Corp agreed to pay Bruce Lehrmann $295,000 to drop a defamation suit he... Continue reading at The Guardian
[ The Guardian | 2023-12-06 12:10:09 UTC ]
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Storing online data in perpetuity is not just about photos and texts but thoughts and ideas. Platforms such as WordPress are starting to act, but it must be at a realistic priceWay back in 2004 the two founders of Google, Larry Page and Sergey Brin, thought that it would be a cool idea to scan... Continue reading at The Guardian
[ The Guardian | 2023-11-25 16:00:53 UTC ]
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Michael Pietsch will be replaced on Jan. 1 by the chief executive of Hachette UK, who will helm both divisions, bringing them into closer alignment. Continue reading at The New York Times
[ The New York Times | 2023-11-14 20:01:58 UTC ]
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PRH's Nihar Malaviya talks of 'an environment where all employees are empowered to grow, succeed, and speak up,' in the US division's first DEI report. The post Penguin Random House Issues a First Diversity Report appeared first on Publishing Perspectives. Continue reading at Publishing Perspectives
[ Publishing Perspectives | 2023-11-04 00:09:33 UTC ]
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In the lead-up to this year's Esports Business and Gaming Summit, the event's organizers polled 112 North American gaming and esports executives about their thoughts on the industry’s current trajectory, representing a cross-section of executives in sectors including broadcasting and media,... Continue reading at Digiday
[ Digiday | 2023-10-24 04:01:00 UTC ]
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Seeing untold promise in new technology, he was a prime mover in the creation of the cable industry, helping to transform Time Warner Cable into a giant in the field. Continue reading at The New York Times
[ The New York Times | 2023-10-19 20:03:36 UTC ]
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Poet, editor, and writer John Freeman and novelist Omar El Akkad join co-hosts Whitney Terrell and V.V. Ganeshananthan to talk about the final issue of Freeman’s, a literary magazine founded in 2015. El Akkad, a contributor to the volume, describes founding editor Freeman’s intense and uniquely... Continue reading at Literrary Hub
[ Literrary Hub | 2023-10-19 08:10:54 UTC ]
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Thurston Moore of Sonic Youth revealed a longtime health condition had ended his book tour plans: 'This news is utterly distressing. ... [M]y memoir, 'Sonic Life,' means so much to me.' Continue reading at Los Angeles Times
[ Los Angeles Times | 2023-10-12 00:21:43 UTC ]
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