Facing what it called "a significant decline in advertising revenues" as a result of the COVID-19 pandemic, Meredith Corp. says it's implementing sweeping pay cuts across 60% of its approximately 5,000 employees, suspending quarterly dividends and withdrawing the 2020 fiscal outlook it communicated to investors on its most recent earnings call in early February. Effective May 4 and continuing through early September, 45% of the company (approximately 2,250 staffers) will have their pay reduced by 15%, while an additional group representing about 750 of the company's highest-paid employees will see pay cuts starting at 20% and ranging up to 40% for president and CEO Tom Harty and the Board of Directors. Salaries for the remaining 2,000 or so employees will not be impacted. Additionally, Meredith says those employees whose salaries are being reduced will be given one day of unpaid leave per week until September 4. Effective immediately, the company is also implementing a wage, salary and hiring freeze as well as "a significant reduction in temporary and freelance usage." "The COVID-19 crisis has created an extremely challenging business environment, including significant advertising campaign cancellations and delays," said Harty in a statement. "While our financial position is strong, given the impact on advertising—which represents approximately half of our revenue mix—we are proactively taking aggressive actions to strengthen our liquidity and enhance our financial... Continue reading at 'Folio Magazine'
[ Folio Magazine | 2020-04-20 17:45:12 UTC ]
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Skegness’s Jolly Fisherman image used before seeking permission on the cover of Bryson’s bestselling travelogue The Road to Little DribblingSkegness’s Jolly Fisherman, he of the beaming smile and rotund belly, might be a little less cheerful after it emerged that his image was used without... Continue reading at The Guardian
[ The Guardian | 2016-01-08 00:00:00 UTC ]
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Private exchanges are still a good way for publishers to get in on the programmatic action. The post Setting Up Your Own Private Ad Exchange appeared first on Folio:. Continue reading at Folio Magazine
[ Folio Magazine | 2016-01-08 00:00:00 UTC ]
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The biggest deals in the publishing industry happened in the professional and education markets. Continue reading at Publishers Weekly
[ Publishers Weekly | 2016-01-08 00:00:00 UTC ]
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The original hashtag, created after the World Book Night failed to include BAME authors on its giveaway list, has rebranded as #ReadDiverse2016 to ‘celebrate diversity in all its forms’ for the whole year#DiverseDecember, last month’s celebration of writers of colour, was “hugely popular”... Continue reading at The Guardian
[ The Guardian | 2016-01-07 00:00:00 UTC ]
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Facebook's publisher-facing ad-tech arm LiveRail is shutting down the ad server business that you might not have known it operated.Known best for being one of the top video ad exchanges when Facebook agreed to buy it in July 2014, LiveRail also offered a way to help publishers pick out which... Continue reading at Advertising Age
[ Advertising Age | 2016-01-07 00:00:00 UTC ]
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Children's author and illustrator Debi Gliori has joined a protest calling for Argyll and Bute school librarians to be saved. Continue reading at The Bookseller
[ The Bookseller | 2015-12-30 00:00:00 UTC ]
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For literary lovers, there's not much more exciting than browsing a well-stocked bookstore. But one Barnes & Noble location might be trying to make book shopping even more fun by adding alcohol to the equation. A Barnes & Noble store in New Hartford, N.Y., has applied for a beer and wine... Continue reading at Los Angeles Times
[ Los Angeles Times | 2015-12-28 00:00:00 UTC ]
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The board of Scottish arts development body Creative Scotland has said it will not pass on the 3.6% funding cut planned by Scottish government for 2016/17 to its regularly funded organisations. Continue reading at The Bookseller
[ The Bookseller | 2015-12-24 00:00:00 UTC ]
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There’s a growing trend in online publishing: Namely, media sites blocking users who choose to use ad-blocking software. In the past few days alone, a British publisher and the Forbes business news site have either implemented or are lookin ... Continue reading at Editor & Publisher
[ Editor & Publisher | 2015-12-23 00:00:00 UTC ]
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Incisive Media, which has a mix of ad-funded and subscription-based titles, is following in the footsteps of Axel Springer's Bild, London's City AM and the Washington Post in taking a tougher stance on ad blocking. The publisher will ban visitors with ad blockers enabled on some of its sites in... Continue reading at Digiday
[ Digiday | 2015-12-22 00:00:00 UTC ]
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Literary agent Guillermo Schavelzon and other publishing professionals expressed optimism for the growing Latin American book market at the Guadalajara Book Fair. The post Agents, Pros See Expanding Opportunities in Latin America appeared first on Publishing Perspectives. Continue reading at Publishing Perspectives
[ Publishing Perspectives | 2015-12-21 00:00:00 UTC ]
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Scholastic Inc has reported a drop in earnings of 1.5% for the second quarter of 2016, although its UK market grew in local currency terms. Continue reading at The Bookseller
[ The Bookseller | 2015-12-19 00:00:00 UTC ]
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Publishing director Chris Lambiase and other SVP's are among those on their way out. The post Rodale Continues Reorganization With Senior-Level Cuts appeared first on Folio:. Continue reading at Folio Magazine
[ Folio Magazine | 2015-12-19 00:00:00 UTC ]
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Winner of the Great British Bake Off 2015, Nadiya Hussain, will be publishing her "dream" debut cookbook with Michael Joseph. Continue reading at The Bookseller
[ The Bookseller | 2015-12-18 00:00:00 UTC ]
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The biggest revenue upsides are coming from a variety of sources. Guess which one isn’t on the list. The post The Highest-Growth Revenue Streams for Magazine Media in 2015 appeared first on Folio:. Continue reading at Folio Magazine
[ Folio Magazine | 2015-12-18 00:00:00 UTC ]
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Say what you will about Bill O’Reilly, but he knows what the public wants. This is a guy who hosts a highly rated cable news program and wrote a first novel in which a fiendish stalker murders a man with an iced-tea spoon on Page 6. Nowhere is O’Reilly’s canniness more evident than in the... Continue reading at Slate
[ Slate | 2015-12-17 00:00:00 UTC ]
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Sophomore Spencer Freedman made seven three-pointers and finished with 24 points in Mater Dei's 78-46 win over Long Beach Wilson in the North Orange County tournament. Mater Dei improved to 8-0. Ayala stayed unbeaten with an 81-43 win over Paramount. Servite defeated El Modena, 73-35. Pearson... Continue reading at Los Angeles Times
[ Los Angeles Times | 2015-12-16 00:00:00 UTC ]
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Video advertising is a bright spot for many online publishers, which is why they’re increasingly experimenting with ways to get as much video as possible in front of their audiences. One recent tactic: using “sticky&rdq ... Continue reading at Editor & Publisher
[ Editor & Publisher | 2015-12-15 00:00:00 UTC ]
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Powa Technologies, which aims to make all ads "shoppable" by letting people scan them with their smartphones to buy products online, is taking another step to make that process easier -- doing away with the need for QR codes so people can scan the print ads whole.Participating brands can upload... Continue reading at Advertising Age
[ Advertising Age | 2015-12-15 00:00:00 UTC ]
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Facebook is updating its policies for Instant Articles, per a rep with the company, which could mean up to 40 percent more ads for publishers on the platform. Starting today, publishers utilizing Instant Articles will be able to place an ad every 350 words instead of every 500 words, according... Continue reading at AdWeek
[ AdWeek | 2015-12-10 00:00:00 UTC ]
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