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 ]
Many newspapers have tried ebooks as a new revenue stream, but the Minneapolis Star Tribune’s “In the Footsteps of Little Crow” stands out. Curt Brown’s extensively researched narrative of the 1862 U.S.-Dakota ... Continue reading at Editor & Publisher
[ Editor & Publisher | 2012-08-31 00:00:00 UTC ]
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Hachette Book Group, HarperCollins, and Simon & Schuster say they will pay consumers to settle claims they conspired to fix ebook prices. Continue reading at The Christian Science Monitor
[ The Christian Science Monitor | 2012-08-31 00:00:00 UTC ]
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The trade has paid tribute to multi-award-winning Irish author Maeve Binchy after her death at... Continue reading at The Bookseller
[ The Bookseller | 2012-07-31 00:00:00 UTC ]
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European publishers are looking into the opportunities a free trade agreement between the... Continue reading at The Bookseller
[ The Bookseller | 2012-07-30 00:00:00 UTC ]
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Taylor and Francis’ parent company Informa saw revenue growth in its academic division of 6... Continue reading at The Bookseller
[ The Bookseller | 2012-07-25 00:00:00 UTC ]
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Comic book contains material deemed insensitive in light of Colorado shootings'The latest issue of a Batman comic series due to hit stores this week will be postponed in light of the shooting rampage at a Batman movie in Aurora, Colo., DC Entertainment said on Tuesday. Continue reading at Baltimore Sun
[ Baltimore Sun | 2012-07-25 00:00:00 UTC ]
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Smaller academic presses said the digital transition was a “huge” issue for their... Continue reading at The Bookseller
[ The Bookseller | 2012-07-23 00:00:00 UTC ]
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The World Bank has debarred Oxford University Press East Africa and Oxford University Press... Continue reading at The Bookseller
[ The Bookseller | 2012-07-03 00:00:00 UTC ]
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The struggling conglomerate, which has a 30 percent market share in Australia, publishes The Sydney Morning Herald, the Australian Financial Review and The Age in Melbourne. Continue reading at The New York Times
[ The New York Times | 2012-06-18 00:00:00 UTC ]
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The Chicago Tribune is mulling a plan to charge online readers premiums for different kinds of content, a structure similar to the fee it charges for the print literary magazine it introduced this year. The city's largest newspaper is charting ... Continue reading at Editor & Publisher
[ Editor & Publisher | 2012-05-29 00:00:00 UTC ]
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London, England – The World e-Reading Congress drew a number of influential speakers in London today, including Duncan Edwards, CEO of Hearst Magazines International, who highlighted the striking rise of tablet publishing. Hearst is ... Continue reading at Editor & Publisher
[ Editor & Publisher | 2012-05-16 00:00:00 UTC ]
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Despite a cheeky promotional claim that profitability is "not something we think about," Punch has a grand vision of becoming a lucrative tablet publishing platform. But first, a quiz: hedge fund or organic farm?David Bennahum is the CEO of Punch, a news and entertainment app that launched last... Continue reading at Fast Company
[ Fast Company | 2012-04-17 00:00:00 UTC ]
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Getting to the consumer, getting the right content to that consumer, and then making this... Continue reading at The Bookseller
[ The Bookseller | 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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In July 2011, when Harvard Business School changed the name of its book publishing operation to Harvard Business Review Press to match its strongest brand, the Harvard Business Review magazine, it wasn’t clear what kind of impact it might have. Continue reading at Publishers Weekly
[ Publishers Weekly | 2012-04-13 00:00:00 UTC ]
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While 2011 saw fewer announcements of layoffs and buyouts in the newspaper industry than previous years, attrition continued quietly and relentlessly, with the nation’s biggest newspaper publishers trimming their combined work forces by 7.2 ... Continue reading at Editor & Publisher
[ Editor & Publisher | 2012-04-03 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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Waterstones has partnered with Granta for its next magazine issue, Britain, with the chain to... Continue reading at The Bookseller
[ The Bookseller | 2012-03-27 00:00:00 UTC ]
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The parties in Germany's ruling coalition have proposed a new protective copyright law for news publishers to ensure they are compensated by "commercial traders" that use pieces of their copyrighted content online, according to an automat ... Continue reading at Editor & Publisher
[ Editor & Publisher | 2012-03-07 00:00:00 UTC ]
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The most pressing issues facing publishers today all stem from one central concern: To deliver relevant, targeted and in-demand content to readers where and whenever they want it, to break through the wall of information overload and determine what exactly that is—which seems to be expanding and... Continue reading at Folio Magazine
[ Folio Magazine | 2012-03-02 00:00:00 UTC ]
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