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 ]
On Jan. 1, the privately owned business publisher Bloomberg Media shut off its open-market programmatic advertising, a move to better control its user experience and drive advertisers to reach its audience by buying directly from the company itself. Six months later, the strategy produced its... Continue reading at AdWeek
[ AdWeek | 2023-07-18 11:31:59 UTC ]
More news stories like this | News stories tagged with:
#user experience
#privately owned
Force says detectives met with BBC to discuss allegations presenter paid teenager for sexual images Persephone Bridgman Baker, a partner at Carter-Ruck, has spoken on Sky News about the legal situation, reminding viewers why the name of the presenter has been kept from the public eye so far. She... Continue reading at The Guardian
[ The Guardian | 2023-07-10 14:37:56 UTC ]
More news stories like this | News stories tagged with:
#latest updates
#sky news
#public eye
#major publisher
Springer Nature's promotional 'progress report' on open access and more outlines strides amid challenges in a complex, competitive sector. The post Springer Nature Issues Its New ‘Progress Report’ appeared first on Publishing Perspectives. Continue reading at Publishing Perspectives
[ Publishing Perspectives | 2023-06-28 20:01:57 UTC ]
More news stories like this | News stories tagged with:
#open access
#springer nature
The Australian’s columnist criticises ABC, as political leaders also share thoughts on cuts at public broadcaster. Plus: Shannon Noll’s chicken zingerGet our morning and afternoon news emails, free app or daily news podcastEveryone from the prime minister down had an opinion about the ABC’s... Continue reading at The Guardian
[ The Guardian | 2023-06-23 03:01:45 UTC ]
More news stories like this | News stories tagged with:
#political leaders
#public broadcaster
#free app
#prime minister
#single piece
#news corp
Maldonado, the first Latinx appointee to helm the Academy, was previously codirector of 92NY’s Unterberg Poetry Center. He will begin his new role on July 17. Continue reading at Publishers Weekly
[ Publishers Weekly | 2023-06-21 04:00:00 UTC ]
More news stories like this | News stories tagged with:
#american poets
Coffee House Press in Minneapolis is building up its staff after 30% of its employees resigned this past month. Jeremy Davies was named executive editor and three Texas booksellers have also recently joined the press. Continue reading at Publishers Weekly
[ Publishers Weekly | 2023-06-13 04:00:00 UTC ]
More news stories like this | News stories tagged with:
#past month
The Los Angeles Times says it is cutting 74 jobs due to economic challenges as the newspaper strives to transform itself into a digital media organization Continue reading at ABC News
[ ABC News | 2023-06-07 20:06:25 UTC ]
More news stories like this | News stories tagged with:
#economic challenges
#digital media
As part of its campaign to protect its members from the rise of large language models and other artificial intelligence tools, the Authors Guild has released four new model contract clauses concerning the technology. Earlier, the Guild released a survey of members that found that 69% of those... Continue reading at Publishers Weekly
[ Publishers Weekly | 2023-06-02 04:00:00 UTC ]
More news stories like this | News stories tagged with:
#authors guild
Author Luis Alberto Urrea joins the L.A. Times Book club July 19 to discuss his new novel, "Good Night, Irene." Continue reading at Los Angeles Times
[ Los Angeles Times | 2023-05-24 14:00:39 UTC ]
More news stories like this | News stories tagged with:
#unsung heroes
#good night
#times book
The Guild says it met with the agency's leadership on May 18 and was assured of transition plans to support a number of authors who were recently dropped by the agency following the departure of agent Jordan Hamessley. Continue reading at Publishers Weekly
[ Publishers Weekly | 2023-05-23 04:00:00 UTC ]
More news stories like this |
Digital publisher and owner of Vice News and Vice TV was once valued at $6bn but has agreed sale for $225mVice, the once high-flying media startup that reached a peak valuation of nearly $6bn (£5bn), has filed for bankruptcy protection in the US as the digital publisher engineers a cut-price... Continue reading at The Guardian
[ The Guardian | 2023-05-15 09:23:50 UTC ]
More news stories like this | News stories tagged with:
#vice news
#vice tv
#bankruptcy protection
#$6bn 5bn
#digital publisher
Pulitzer Prize winning digital media outlet BuzzFeed News is being shut down as part of a cost-cutting drive by its corporate parent that's shedding about 15% of its entire staff Continue reading at ABC News
[ ABC News | 2023-04-20 23:02:36 UTC ]
More news stories like this | News stories tagged with:
#buzzfeed news
#corporate parent
#digital media
#pulitzer prize
One of the defining features of Twitter since its inception has been the character limit, forcing users to be direct and concise. It’s such a big deal that when the limit was doubled, from just 140 characters to 280, it became a subject of primetime TV gags. But under the guiding hand of... Continue reading at PC World
[ PC World | 2023-04-14 14:57:40 UTC ]
More news stories like this | News stories tagged with:
#public square
#hate speech
Service formerly known as HBO Max, rebranded Max, will host live-action showThe Harry Potter TV series is officially a go at Max, the streaming service known until today as HBO Max.The Warner Bros Discovery CEO, David Zaslav, announced the new service, which combines the original HBO Max with... Continue reading at The Guardian
[ The Guardian | 2023-04-12 19:48:47 UTC ]
More news stories like this | News stories tagged with:
#streaming service
#hbo max
#david zaslav
#jk rowling
#hollywood reporter
#harry potter
The 2022 'Sustainable Business Report' from the Springer Nature Group examines workforce dynamics and responses to the climate crisis. The post Springer Nature Issues a New Sustainability Report appeared first on Publishing Perspectives. Continue reading at Publishing Perspectives
[ Publishing Perspectives | 2023-04-05 20:42:53 UTC ]
More news stories like this | News stories tagged with:
#climate crisis
#springer nature
A longtime defender of the freedom to read, Finan confirmed that he will retire this summer after a celebrated career in the service of free expression and First Amendment rights. Continue reading at Publishers Weekly
[ Publishers Weekly | 2023-03-16 04:00:00 UTC ]
More news stories like this | News stories tagged with:
#free expression
#amendment rights
Gone are the days when you could write a book a chapter at a time and hook people in a slow, serial burn. Now, if the internet is to believed, one must amass 100,000 followers on social media before they can even be considered for a book deal (every writer ever: why would anyone follow […] Continue reading at Literrary Hub
[ Literrary Hub | 2023-03-10 17:36:58 UTC ]
More news stories like this | News stories tagged with:
#book deal
The Aspen Words Literary Prize shortlist of five fiction titles highlights 'essential books' that each address 'a vital contemporary issue.' The post The Issue-Driven Aspen Words Literary Prize: 2023 Shortlist appeared first on Publishing Perspectives. Continue reading at Publishing Perspectives
[ Publishing Perspectives | 2023-03-07 03:47:14 UTC ]
More news stories like this | News stories tagged with:
#essential books
#fiction titles
#literary prize
Canada's largest bookstore chain says it won't pay ransom to the online group claiming responsibility for the cyberattack that stole at least some personal data of current and former employees of Indigo Books & Music, and which likely caused... Continue reading at CBC
[ CBC | 2023-03-02 02:09:18 UTC ]
More news stories like this | News stories tagged with:
#personal data
#bookstore chain
"Just use your library" is not the solution to the new price hikes and benefit decreases in Barnes & Noble's membership changes. Continue reading at Book Riot
[ Book Riot | 2023-03-01 12:57:36 UTC ]
More news stories like this | News stories tagged with:
#barnes noble