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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Marcello Vena discusses the offer Mondadori has made for RCS Libri, which would merge two of Italy's strongest education and trade publishing groups. The post Mondadori and RCS Libri: An Italian Publishing Coup in the Making? appeared first on Publishing Perspectives. Continue reading at Publishing Perspectives
[ Publishing Perspectives | 2015-03-17 00:00:00 UTC ]
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With the abundance of comic book movies being made there’s bound to be backlash, but will it be Marvel or DC that pushes us over the edge? The post Who Will Make You Sick of Comic Book Movies, DC or Marvel? appeared first on WIRED. Continue reading at Wired
[ Wired | 2015-03-17 00:00:00 UTC ]
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[Sponsored Content] Miami International Airport and HCP/Aboard Publishing takes a cutting-edge approach to engaging travelers while they are en route. The post MIA Connections Makes A Huge Impact In The Travel Industry appeared first on Folio:. Continue reading at Folio Magazine
[ Folio Magazine | 2015-03-12 00:00:00 UTC ]
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Digital advertising revenue isn't replacing publishers' lost print revenue. So, publishers are having to create new business units to make up the loss. But that's hard to pull off. Trinity Mirror says it's looking at user behavior to identify new revenue streams. Meanwhile, Norway's Dagens... Continue reading at Digiday
[ Digiday | 2015-03-12 00:00:00 UTC ]
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BuzzFeed Inc. is expanding in Canada as the online publisher of lists, news and quizzes seeks to boost Web traffic with more targeted content tailored to local tastes. Continue reading at Editor & Publisher
[ Editor & Publisher | 2015-03-12 00:00:00 UTC ]
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Booktrust says it is “very disappointed” that the Northern Ireland government has cut its Bookstart funding. The charity said 50,000 children “face disappointment” this year because of the cuts. Last year, it distributed 50,000 packs, containing two books for babies and pre-school children, in... Continue reading at The Bookseller
[ The Bookseller | 2015-03-10 00:00:00 UTC ]
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HarperCollins is creating two new Spanish-language publishing divisions: HarperCollins Español and HarperCollins Iberica. Continue reading at Publishers Weekly
[ Publishers Weekly | 2015-03-09 00:00:00 UTC ]
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In a heated exchange before a judge, YouTuber Commander Holly (real name: Holly Conrad) faces off against actress Tina Huang. The issue at hand is one that has divided many a Trekkie: William Riker, yay or nay? Welcome to Nerd Court, where arguments that one might normally witness at a comic... Continue reading at AdWeek
[ AdWeek | 2015-03-09 00:00:00 UTC ]
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A 90-second video features the voices of celebrities including Amy Poehler, Cameron Diaz, Sienna Miller and Jenny Slate while playing on the fact that they do not actually appear. The ads and video direct viewers to the Not There website, which houses the No Ceiling Full Participation report --... Continue reading at Advertising Age
[ Advertising Age | 2015-03-08 00:00:00 UTC ]
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Facebook continues its campaign to invade Google's ad-tech turf.Facebook is building an ad exchange that would automate the sale of other publishers' ads, according to people familiar with the matter. LiveRail, the online video ad-tech firm that Facebook bought last summer, will be the one... Continue reading at Advertising Age
[ Advertising Age | 2015-03-06 00:00:00 UTC ]
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If Facebook is looking to steal TV ad dollars with its autoplay video ads, then its photo-sharing service Instagram has its sights set on print magazine money with a new ad format.Instagram has created a slideshow-like ad format that lets advertisers include multiple photos in an ad and a link... Continue reading at Advertising Age
[ Advertising Age | 2015-03-04 00:00:00 UTC ]
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Lisa Bruce spent years working on the film, The Theory of Everything, before convincing the author to sell the rights to the original memoir. The post How to Make A Big Bang in Book-to-Film appeared first on Publishing Perspectives. Continue reading at Publishing Perspectives
[ Publishing Perspectives | 2015-03-04 00:00:00 UTC ]
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A week ago, it was revealed that Facebook had begun working with the MRC, IAB and Nielsen on creating viewability standards for mobile ads. The move appeared to be another step in the right direction in getting the fragmented digital marketing industry on the same page when it comes to the... Continue reading at AdWeek
[ AdWeek | 2015-02-27 00:00:00 UTC ]
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A book about the evolution of genitals is shortlisted for this year's Diagram Prize for the oddest book title of the year. Continue reading at BBC News
[ BBC News | 2015-02-27 00:00:00 UTC ]
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Just as major advertising players finally seemed close to defining what should count as a billable ad impression online, a few blistering comments from AmEx show that the industry might be farther from consensus than many had hoped. Rachel Herskovitz, global media manager at American Express,... Continue reading at AdWeek
[ AdWeek | 2015-02-27 00:00:00 UTC ]
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Ride-hailing apps like Uber and Lyft looking to promote the “sharing” aspect of their service have scored a victory of sorts.’Ride-share’ is now a recognized verb, according to Oxford Dictionaries, which defines it as to “participate in an arrangement in which a passenger travels in a private... Continue reading at PC World
[ PC World | 2015-02-27 00:00:00 UTC ]
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The first marketing for Apple Watch has arrived in a customary form for the brand: glossy print ads.The March issue of Conde Nast's Vogue includes 12 pages of advertising for Apple's upcoming device, set to go on sale in April. The three versions -- the leather-bound standard model, a... Continue reading at Advertising Age
[ Advertising Age | 2015-02-26 00:00:00 UTC ]
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Exeter-based independent children's publisher Pedigree is expanding its education range based on licensed characters, with titles featuring Postman Pat, Barbie and Angry Birds due this year. Continue reading at The Bookseller
[ The Bookseller | 2015-02-26 00:00:00 UTC ]
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But all publishers can point to the fact that their audiences are moving onlineSales of regional newspapers, meaning their newsprint versions, declined further in the final six months of 2014, according to the latest figures realised by ABC.That, in itself, is hardly surprising. But the overall... Continue reading at The Guardian
[ The Guardian | 2015-02-25 00:00:00 UTC ]
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Waterstones’ flagship Piccadilly store is expanding its children’s section after a sales increase of 20%. London regional manager Luke Taylor said the company decided to re-think the space after “the recent explosion in children's sales”, driven by reference, games and educational related... Continue reading at The Bookseller
[ The Bookseller | 2015-02-20 00:00:00 UTC ]
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