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 ]
Last month, Penguin Random House released their disability pay gap report along with statistics for sexual orientation and socio-economic background. Whilst the publication of the report was positive, with PRH being the first publishing house to include disability in their reporting, the pay gap... Continue reading at The Bookseller
[ The Bookseller | 2021-11-06 09:01:13 UTC ]
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Social media firm announces deal after long-running battle with national and regional newspapers France has hailed a victory in its long-running quest for fairer action from tech companies after Facebook reached an agreement with a group of national and regional newspapers to pay for content... Continue reading at The Guardian
[ The Guardian | 2021-10-21 14:21:02 UTC ]
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'PW' is tracking book publication dates that are changing as a result of recent supply chain issues. Continue reading at Publishers Weekly
[ Publishers Weekly | 2021-10-18 04:00:00 UTC ]
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What on Earth Books’ Christopher Lloyd has gathered illustrators from around the world for a vibrant call-to-arms for children Continue reading at The Bookseller
[ The Bookseller | 2021-10-14 23:17:39 UTC ]
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Penguin Random House chief executive Markus Dohle is to be interviewed at FutureBook 21, The Bookseller's publishing conference, as part of an expansive programme of talks and panels that will take place on 19th November. Continue reading at The Bookseller
[ The Bookseller | 2021-10-12 10:46:52 UTC ]
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It was the most inauspicious of moments but maybe that is why it happened. I was sitting in front of a recently demolished breakfast, across from two friends resuming the thread of a conversation I had stepped back from, while I observed two kids wrestling over a soft toy as a group of adults... Continue reading at The Bookseller
[ The Bookseller | 2021-10-11 12:16:40 UTC ]
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The purchase of Meredith Corp.'s magazine publishing operations is expected to close by the end of the year. Continue reading at Advertising Age
[ Advertising Age | 2021-10-06 23:04:39 UTC ]
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Regulators have doubts that promises of consent-based data collection by digital publishers and advertisers is based on genuine user consent. The post IAB Europe suspends consent management firms as global privacy authorities signal tougher action appeared first on Digiday. Continue reading at Digiday
[ Digiday | 2021-09-30 04:01:00 UTC ]
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In our series “Can Writing Be Taught?” we partner with Catapult to ask their course instructors all our burning questions about the process of teaching writing. This month we’re featuring Made in China author Anna Qu, who will be leading a year-long Online Memoir Generator for writers of color... Continue reading at Electric Literature
[ Electric Literature | 2021-09-28 11:00:00 UTC ]
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The Bookseller's Disability Issue is published today, guest-edited by author Claire Wade who has called on the trade to harness its adaptability to bring real change for people with disabilities. Continue reading at The Bookseller
[ The Bookseller | 2021-09-24 08:30:53 UTC ]
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VAB announces new group dedicated to forwarding video measurement, with NBCUniversal signing on as a partner. Continue reading at Advertising Age
[ Advertising Age | 2021-09-09 17:20:46 UTC ]
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News Corp co-chairman declines Senate communications committee invitation. Plus: Daily Telegraph names and shames ‘index case’Lachlan Murdoch will be en route to reopen Fox News offices in Los Angeles on Monday when the Senate media inquiry reconvenes to consider YouTube’s temporary ban on Sky... Continue reading at The Guardian
[ The Guardian | 2021-09-03 03:21:06 UTC ]
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Penguin Random House US has paid tribute to 36-year-old vice-president Erika Seyfried, who died over the weekend. Continue reading at The Bookseller
[ The Bookseller | 2021-08-30 18:31:43 UTC ]
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Long Beach native Billie Jean King shares her new memoir, 'All In,' with L.A. Times Book Club readers. Continue reading at Los Angeles Times
[ Los Angeles Times | 2021-08-24 20:24:43 UTC ]
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Amazon’s oldest Kindles are being cut off from the internet. But don’t blame Amazon—these e-readers are collateral damage in the phaseout of 2G and 3G cellular service.The first two generations of Kindle e-readers used a cellular antenna to connect to the internet for downloading content.... Continue reading at PC World
[ PC World | 2021-08-18 16:45:00 UTC ]
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Online retail giant Amazon has cut back its pioneering drone delivery team, but says it will still have a Prime Air presence in the UK. Continue reading at The Bookseller
[ The Bookseller | 2021-08-09 16:20:14 UTC ]
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The American Booksellers Association has released, in a letter to members from CEO Allison Hill, the findings of an internal review after two July incidents led to backlash from members. Continue reading at Publishers Weekly
[ Publishers Weekly | 2021-08-09 04:00:00 UTC ]
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Sponsored by Cummings Printing When it comes to improving profits at print magazines, there’s a tendency to focus on new ways of driving revenue. But while keeping a close eye on expenses can also have a significant impact on the bottom line, today’s environment often calls for a balancing... Continue reading at Folio Magazine
[ Folio Magazine | 2021-08-02 17:04:10 UTC ]
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From frequency changes and staff reorgs to automation and list cleanup, publishers are getting creative when it comes to ensuring long-term viability. The post How Magazine Publishers Are Cutting Print Costs to Improve Profits appeared first on Eddie & Ozzie Awards. Continue reading at Folio Magazine
[ Folio Magazine | 2021-08-02 17:04:10 UTC ]
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Personalised children’s book publisher Wonderbly has been acquired by private equity specialist Graphite Capital for an undisclosed amount. Continue reading at The Bookseller
[ The Bookseller | 2021-07-27 23:35:14 UTC ]
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