After weeks of credible speculation and reporting, LSC Communications announced clarity around its reorganization plans, which includes filing for Chapter 11 bankruptcy with the Southern District of New York. The company was left with few option after accumulating at least $893 million in debt, and a balance sheet that saw continued declines, capped off by a 17% year-over-year drop in revenue in the fourth quarter of 2019. According to a company statement, it has “sufficient liquidity to continue operating its business,” which should have several publishers across the U.S. breathing a sigh of relief, at least for now. LSC is the largest book printer in the country, and also boasts a sizable clientele of magazines. In addition to filing for bankruptcy, the company secured $100 million in additional cash in debtor-to-possession financing from undisclosed lenders. It has also filed a number of “customary motions” to ensure it maintains business as usual and doesn’t fall behind in vendor payments. We previously reported that the failed merger with Quad/Graphics last year left LSC in a vulnerable position and that the company was closing as eight of its manufacturing plants across the country as one step forward in its plans to stabilize the organization. This was again addressed again by CEO Thomas Quinlan in today’s statement. “Since the termination of our merger… [we] have taken proactive and aggressive steps to improve our overall cost structure and streamline our... Continue reading at 'Folio Magazine'
[ Folio Magazine | 2020-04-13 15:00:01 UTC ]
Andy Ward has been named a new vice president and publisher at Random House. Formerly editor in chief, Ward moves into the spot long held by the beloved Susan Kamil, who died in September. Ward has edited the likes of David Mitchell, George Saunders, and Imbolo Mbue, and will see his role as... Continue reading at Literrary Hub
[ Literrary Hub | 2019-11-19 15:22:43 UTC ]
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Like a phoenix rising from the ashes, magazines are being reborn for the newsstands. As more magazines go dark and become digital-only, publishers are finding ways to keep those outlets alive in their original medium as special interest publications. The big magazine publishing houses have been... Continue reading at AdWeek
[ AdWeek | 2019-08-26 22:00:11 UTC ]
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Condé Nast, owner of some of the most storied titles in magazine publishing, has been on the same downward slide as other print-centered media companies in the past decade. But apparently its... To view the full story, click the title link. Continue reading at Crains New York
[ Crains New York | 2018-08-08 00:00:00 UTC ]
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SERIES Civilizations This docu-series narrated by Liev Schreiber concludes with a look at the importance of art in the modern age. 8 p.m. KOCE The Bold Type Kat (Aisha Dee) tries to shake things up at work in a new episode of this comedy-drama set in the world of magazine publishing. 8 p.m.... Continue reading at Los Angeles Times
[ Los Angeles Times | 2018-07-03 00:00:00 UTC ]
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Welcome to Ad Age's Wake-Up Call, our daily roundup of advertising, marketing, media and digital-related news. What people are talking about today: Morning news outlets are scrambling to cover the shooting last night at a Las Vegas country music festival. As of this writing, ABC News was... Continue reading at Advertising Age
[ Advertising Age | 2017-10-02 00:00:00 UTC ]
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Rakuten Kobo has partnered with D&R, Turkey’s largest book and media retailer, to sell ebooks and devices to Turkish readers. Continue reading at The Bookseller
[ The Bookseller | 2016-04-29 00:00:00 UTC ]
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After four years of running one of magazine publishing's great trophy properties, Facebook multimillionaire Chris Hughes has found a new owner for The New Republic. Win McCormack, an Oregonian... To view the full story, click the title link. Continue reading at Crains New York
[ Crains New York | 2016-02-27 00:00:00 UTC ]
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German literary powerhouse Suhrkamp and its publisher Ulla Unseld-Berkéwic who also owns 61% of the company, have been handed an early Christmas gift by the three judges of the Federal Constitutional Court in Karlsruhe. By dismissing an injunction by minority owner Hans Barlach they have allowed... Continue reading at The Bookseller
[ The Bookseller | 2014-12-24 00:00:00 UTC ]
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Increasingly, agencies -- many of which have taken to producing their own in-house magazines and online content hubs -- are dabbling in publishing. The post 5 agencies trying their hands at magazine publishing appeared first on Digiday. Continue reading at Digiday
[ Digiday | 2014-08-28 00:00:00 UTC ]
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One of three editors in the 1971 Oz obscenity trial who went on to become a hugely successful magazine and book publisherFelix Dennis cackling laugh, roistering humour, ribald in appetite, loyal and immensely generous has died aged 67 from cancer. One of the richest men in Britain, he made his... Continue reading at The Guardian
[ The Guardian | 2014-06-23 00:00:00 UTC ]
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There are few things more heartbreaking for an editor than turning the lights off on a publication. Unfortunately, today marks the second time I've had to perform that unrewarding task. And while I plan to make good on my promise to take what we've learned here at Distro and transfer it to... Continue reading at Engadget
[ Engadget | 2013-09-28 00:00:00 UTC ]
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Much like trends in magazine publishing, social media is becoming a niche-focused market. This means there are an increasing number of networks that serve very specific functions. For instance, the difference between Instagram and Twitter is similar to the difference between a photography... Continue reading at Folio Magazine
[ Folio Magazine | 2013-07-26 00:00:00 UTC ]
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Neil Jamieson, a Time Inc. vet and a big figure in the magazine design world, has left to join design studio Joe Zeff Design to be the studio's first creative director. Jamieson most recently was design director of Money, whose tablet edition was a National Magazine Award finalist this year. He... Continue reading at AdWeek
[ AdWeek | 2013-07-10 00:00:00 UTC ]
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Cengage Learning has said it is seeking to negotiate with creditors on a restructuring plan and... Continue reading at The Bookseller
[ The Bookseller | 2013-05-13 00:00:00 UTC ]
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By James Sturdivant I f, as many believe, the future of magazine publishing is niche, then it makes sense to look to niche publishers for clues to revenue models, products and strategies that will carry the... Continue reading at Publishing Executive
[ Publishing Executive | 2013-04-01 00:00:00 UTC ]
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Time Warner Inc. will spin off its magazine business later this year, turning the nine-decade-old publisher of Time, People and Sports Illustrated into a separate publicly held company.The board authorized management to proceed with the plan after a review of options, the New York-based media... Continue reading at Crains New York
[ Crains New York | 2013-03-07 00:00:00 UTC ]
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New Zealand is taking centre stage at the world's largest book and content fair in Frankfurt as this year's guest of honour. Continue reading at Stuff
[ Stuff | 2012-09-12 00:00:00 UTC ]
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Leaders from the world of magazine publishing are set to tackle the industry's multiplatform future on Wednesday (9 May) at Publishing+, the PPA's conference at the Hilton Metropole. Continue reading at Media Week
[ Media Week | 2012-05-04 00:00:00 UTC ]
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Stora Enso has announced a restructuring plan that aims to cut costs in its annual magazine paper operation by about $63.6 million by third quarter 2013, with the goal of improving efficiency and productivity. Continue reading at Folio Magazine
[ Folio Magazine | 2012-02-09 00:00:00 UTC ]
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When is five consecutive quarters of growth not enough? Right now in magazine publishing. To see real, sustained growth, there are three things every magazine publisher should do to keep readers and advertisers engaged. 1. Create Franchise Issues Continue reading at Folio Magazine
[ Folio Magazine | 2011-10-09 00:00:00 UTC ]
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