Weeks after issuing an earnings that report that revealed the company lost $295 million last year, publication printer LSC Communications is preparing to file for Chapter 11 bankruptcy, Bloomberg reports, citing "people with knowledge of the plans." The news comes less than a year after the company called off a proposed merger with its chief competitor, Quad/Graphics, following a Justice Department challenge on antitrust grounds. Since then, LSC, the nation's largest book printer in terms of market share, has looked to reduce its position in magazine and catalog printing, closing or planning to close eight manufacturing plants in order to narrow its focus on its books business. Quad/Graphics, meanwhile, has been moving in the opposite direction, as the pseudonymous writer D. Eadward Tree points out, seemingly creating two separate lanes in which the companies can maintain dominant positions unimpeded. More immediately concerning for LSC is the need to reconcile its $893 million in debt against diminishing revenues, which declined 17% year-over-year in the fourth quarter of 2019 to $778 million. Concurrent with the earnings report on March 2, LSC announced that as of December 31, 2019, it fell into noncompliance with its financial covenants, essentially in danger of defaulting on its loans because its debt-to-equity ratio now exceeds the maximum level permitted in its agreements with lenders. The company says it's reached a forbearance agreement with its lenders,... Continue reading at 'Folio Magazine'
[ Folio Magazine | 2020-03-25 18:34:08 UTC ]
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Businesses and public policy makers are tapping novelists to imagine the path forward. But how much stock should we put in the predictions of storytellers? Continue reading at Wired
[ Wired | 2019-07-12 13:00:00 UTC ]
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Charter Communications Inc., the largest cable provider in New York, will be allowed to continue operating in New York after reaching an agreement with regulators. The state Public Service Commission approved a settlement with Charter today, reversing a decision it made a year earlier to kick... Continue reading at Silicon Valley Business Journal
[ Silicon Valley Business Journal | 2019-07-12 11:59:24 UTC ]
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Charter Communications Inc., the largest cable provider in New York state, will be allowed to continue operating in New York after reaching an agreement with regulators. The state Public Service Commission approved a settlement with Charter today, reversing a decision it made a year earlier to... Continue reading at Silicon Valley Business Journal
[ Silicon Valley Business Journal | 2019-07-12 11:50:50 UTC ]
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Barnes & Noble has issued shareholders with a formal tender offer after rebuffing a further bid from US book distributor Readerlink, made after an initial deadline following the agreement with Ellliott Advisors had passed. Continue reading at The Bookseller
[ The Bookseller | 2019-07-09 12:42:15 UTC ]
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Special interest magazine publisher F+W Media is due back in Delaware bankruptcy court Monday afternoon, where the company is expected to present the winning bidders emerging from an auction of its remaining media assets, the latest step in a process that began when the company filed for... Continue reading at Folio Magazine
[ Folio Magazine | 2019-06-17 16:16:56 UTC ]
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MVB US is offering a special promotion to independent booksellers who want to take advantage of the company's Pubeasy and Pubnet services for direct ordering and communication with publishers. Continue reading at Publishers Weekly
[ Publishers Weekly | 2019-06-11 04:00:00 UTC ]
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News director named on a warrant by the AFP but at least that redirected staff anger for a day. Plus: News Corp exodusWhen the Australian federal police swept into Ultimo with a search warrant for ABC news on Wednesday it was a mixed blessing for news director Gaven Morris.Morris’s name was on... Continue reading at The Guardian
[ The Guardian | 2019-06-07 01:26:26 UTC ]
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Back in 2015, Microsoft said that Windows 10 would be the last version of Windows. The software giant views its newest operating system as a service that’s continually updated. Although problems with both the October 2018 Update and May 2019 Update mean that’s not really true at the moment. Most... Continue reading at Betanews
[ Betanews | 2019-05-30 09:08:54 UTC ]
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A doctored video showing the US House Speaker "slurring" her words doesn't violate Facebook standards. Continue reading at Stuff
[ Stuff | 2019-05-25 05:42:55 UTC ]
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Hours after House Speaker Nancy Pelosi addressed a conference Wednesday, a distorted video of the California Democrat’s conversation began spreading across the internet. The manipulated clip, slowed to make Pelosi sound as if she were slurring her words, racked up millions of views on... Continue reading at Baltimore Sun
[ Baltimore Sun | 2019-05-25 00:10:00 UTC ]
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Hours after House Speaker Nancy Pelosi addressed a conference Wednesday, a distorted video of the California Democrat’s conversation began spreading across the internet. The manipulated clip, slowed to make Pelosi sound as if she were slurring her words, racked up millions of views on... Continue reading at Baltimore Sun
[ Baltimore Sun | 2019-05-25 00:10:00 UTC ]
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No one likes to have their words taken out of context. Yet there are a slew of popular sayings that suffer from chronic misuse for this very reason. Everyone knows that “love makes the world go ‘round,” right? This seemingly altruistic phrase actually comes from "Alice's Adventures in... Continue reading at Folio Magazine
[ Folio Magazine | 2019-05-07 00:00:00 UTC ]
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Simon & Schuster (S&S) is gearing up to release an ebook version of the Mueller Report, with print copies hitting the shelves by the end of the month. Continue reading at The Bookseller
[ The Bookseller | 2019-04-19 00:00:00 UTC ]
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Streaming service Disney+, launching in the US in autumn, is gambling billions on being able to see off a rival that already has 150 million subscribers worldwideThe fan frenzy surrounding the freshly released teaser for Star Wars: Episode IX – The Rise of Skywalker serves as a timely reminder... Continue reading at The Guardian
[ The Guardian | 2019-04-13 00:00:00 UTC ]
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Emsisoft has released a free decrypter tool for anyone who has been struck by the Planetary Ransomware, eliminating the need to pay a fee to the attackers. Before using the tool you are advised to ensure that you have removed the malware from your computer -- something you can do with the free... Continue reading at Betanews
[ Betanews | 2019-04-08 00:00:00 UTC ]
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Dexter, Mich.-based printer Thomson-Shore filed for Chapter 11 bankruptcy protection in the U.S. Bankruptcy Court for the Eastern District of Michigan Southern Division earlier this week. If things go according to plan, its assets will be sold to the CJK Group. Continue reading at Publishers Weekly
[ Publishers Weekly | 2019-03-28 00:00:00 UTC ]
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Baltimore Mayor Catherine E. Pugh did not fully disclose the $500,000 business relationship she started in 2011 with the University of Maryland Medical System during the time she was a state senator, a period during which she sat on the hospital network’s board of directors and oversaw issues... Continue reading at Baltimore Sun
[ Baltimore Sun | 2019-03-16 00:00:00 UTC ]
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Citing mismanagement and mistakes in its focus on e-commerce, the enthusiast-content company that created the Digital Book World and Writer's Digest lines, has a hearing today (March 12) in court. The post US Publisher F+W Media Has Hearing Today in Chapter 11 Protection Filing appeared first on... Continue reading at Publishing Perspectives
[ Publishing Perspectives | 2019-03-12 00:00:00 UTC ]
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A failed attempt to shift the magazine and book publisher's business to an e-commerce model has led F+W to sell both its books division, which has revenues of $22 million, and It's communities group, which had sales of almost $68 million. Continue reading at Publishers Weekly
[ Publishers Weekly | 2019-03-12 00:00:00 UTC ]
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Plan S and expanding the discussion around open access publishing are on the agenda at an invitational workshop led by Copyright Clearance Center and Outsell. The post During London Book Fair: Copyright Clearance Center on ‘Open Scholarly Communications’ appeared first on Publishing Perspectives. Continue reading at Publishing Perspectives
[ Publishing Perspectives | 2019-03-07 00:00:00 UTC ]
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