After months of searching, Meredith Corporation has finally found a proper suitor for Time magazine. On Sunday, September 16, the company announced it has sold the legacy brand it acquired in January this year for $190 million in cash to Marc and Lynne Benioff. Marc Benioff is the founder, chairman and co-CEO of Salesforce, however this transaction is private and separate from that company. The Benioffs will not oversee the day-to-day operations of Time, according to a statement Folio: received from Meredith Corp affirming that Time's current leadership will continue to manage the magazine. The release also states that Meredith will provide short-term business continuity services through a multi-year agreement with the Benioffs, including consumer marketing, subscription fulfillment, paper purchasing and printing. The company will also be able to include Time in large corporate advertising buys. Meredith will use the liquidity gained in the sale to pay down debts. Further, the company says it expects to reduce its debt by $1 billion during its fiscal 2019, which began on July 1. “We’re pleased to have found such passionate buyers in Marc and Lynne Benioff for the Time brand,” said Meredith President and CEO Tom Harty, in the release. “For over 90 years, Time has been at the forefront of the most significant events and impactful stories that shape our global conversation. We know Time will continue to succeed and is in good hands with the Benioffs. We thank the Time team... Continue reading at 'Folio Magazine'
[ Folio Magazine | 2018-09-17 00:00:00 UTC ]
RFR Holding is more than 90 days delinquent on the mortgage for 90 Fifth Ave., according to Fitch Ratings, the latest sign of mounting strain for the developer fighting eviction from the Chrysler Building.The 140,000 square-foot building at the corner of West 14th Street is a small part of RFR’s... Continue reading at Crains New York
[ Crains New York | 2024-10-25 17:48:58 UTC ]
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Anyone who lived within 2 miles (3.2 kilometers) of the derailment can get up to $70,000 per household for property damage plus up to $25,000 per person for health problems. A federal judge on Wednesday approved a $600 million class-action settlement Wednesday that Norfolk Southern railroad... Continue reading at Fast Company
[ Fast Company | 2024-09-26 13:48:03 UTC ]
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Sony continues its mission to release first-party titles on PC, as the critically-acclaimed PS5 sequel Horizon Forbidden West is coming to Steam and the Epic Games Store early next year. The port’s being handled by Nixxes Software, a company Sony purchased back in 2021.... Continue reading at Engadget
[ Engadget | 2023-09-27 17:26:58 UTC ]
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In what is likely a record price for an audiobook publisher, KKR, the private equity firm that owns RBmedia—and a rumored contender to buy S&S—is selling the company for an alleged $1 billion sum. Continue reading at Publishers Weekly
[ Publishers Weekly | 2023-07-26 04:00:00 UTC ]
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Digital media and marketing group Jellyfish has been wholly acquired by The Brandtech Group, driving their combined revenue to more than $1 billion. Jellyfish, which was co-founded in 2005 by chief executive Rob Pierre, currently operates across 38 offices and employs more than 2,000 people. It... Continue reading at AdWeek
[ AdWeek | 2023-06-01 12:00:00 UTC ]
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Driven by an increase in its physical stores, sales at Indigo Books & Music increased 17.4% in the fiscal year ended April 2, 2022, over fiscal 2021, rising to C$1.06 billion. Canada’s largest bookstore chain had an operating profit of C$29 million, compared to a loss of C$31.9 million in... Continue reading at Publishers Weekly
[ Publishers Weekly | 2022-06-08 04:00:00 UTC ]
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OnlyFans, the platform that allows creators to sell material directly to customers, will soon implement new restrictions on the publication of adult content. Starting in October, the company will ban the sale of sexually explicit content and depictions of sexual acts. The move does not cover all... Continue reading at Engadget
[ Engadget | 2021-08-20 17:40:41 UTC ]
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In May of this year, SAGE publishing took a step that was part gamble, part experiment. As discussions over lockdown policies dominated the global conversation, Professor Stephen Reicher emerged as one of the most authoritative voices in the field, through his work with the government’s... Continue reading at The Bookseller
[ The Bookseller | 2020-11-10 10:49:23 UTC ]
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Taking a look at 19 internationally prominent women in political leadership, the nonfiction YA title 'In Good Hands' is to be made into a television series. The post Canada: White Pine Options Kids Can Press’ YA Book on Women Politicians appeared first on Publishing Perspectives. Continue reading at Publishing Perspectives
[ Publishing Perspectives | 2020-07-31 17:13:55 UTC ]
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Covid-19 has hit publishers especially hard, from lost revenue due to keyword blocking and changing consumer news preferences. News Corp has been deeply affected, suffering a net loss of $1 billion in the third quarter of 2020. Stephanie Layser, vp of advertising technology at News Corp, spoke... Continue reading at AdWeek
[ AdWeek | 2020-07-15 19:21:32 UTC ]
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[caption id="attachment_175628" align="alignright" width="150"] Stuart Emmrich[/caption] Less than a year after being named editor of Vogue.com, Stuart Emmrich is stepping down from that role, Folio: has confirmed. Emmrich, the former longtime editor of The New York Times' Styles section who... Continue reading at Folio Magazine
[ Folio Magazine | 2020-06-29 16:47:32 UTC ]
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Harry Hoffman, the most powerful person in bookselling in the 1980s as the CEO of Waldenbooks, died on May 20 at age 92. Hoffman took over the 500-bookstore chain in 1979 and, when he retired in 1991, the chain had about 1,300 outlets and sales of over $1 billion. Continue reading at Publishers Weekly
[ Publishers Weekly | 2020-05-29 04:00:00 UTC ]
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Today marks the fifth week we have recognized publishers that, despite difficult challenges and uncertainty, have prioritized their community as much as, if not more than, their own business interests. We continue to be inspired by all of the gestures we’ve seen from around the industry, and we... Continue reading at Folio Magazine
[ Folio Magazine | 2020-04-24 15:33:49 UTC ]
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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... Continue reading at Folio Magazine
[ Folio Magazine | 2020-03-25 18:34:08 UTC ]
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Developing story: Leipzig Book Fair shutters its planned March 12 to 15 show; London Book Fair still hanging fire amid more cancellations. The post Coronavirus: Leipzig Book Fair Is Canceled; London Still On, Pan Mac Now Out with Hachette Livre appeared first on Publishing Perspectives. Continue reading at Publishing Perspectives
[ Publishing Perspectives | 2020-03-03 13:23:59 UTC ]
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Developing story: The States' Macmillan and HarperCollins pull out of London Book Fair over the weekend, along with the Hachette US rights team. The post Coronavirus: LBF Says It’s a Go for Now; US Macmillan, Hachette Sales and HarperCollins Exit appeared first on Publishing Perspectives. Continue reading at Publishing Perspectives
[ Publishing Perspectives | 2020-03-02 12:52:26 UTC ]
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New Jersey-based Wainscot Media announced this week that it has acquired a pair of B2B healthcare industry magazines from Scranton Gillette Communications for an undisclosed sum. The 8x frequency Imaging Technology News and bimonthly Diagnostic and Interventional Cardiology, both of which trace... Continue reading at Folio Magazine
[ Folio Magazine | 2020-01-14 19:19:58 UTC ]
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The shakeup continues at SourceMedia. Chief content officer David Longobardi is out after 11 years in the role and 15 with the company as it prepares to reveal a series of new additions to its executive team, Folio: has learned. The lone holdover on a five-person C-suite that has now entirely... Continue reading at Folio Magazine
[ Folio Magazine | 2019-08-22 18:08:05 UTC ]
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The new annual sales survey from the APA shows audiobooks holding its market lead for growth in formats, with listening in cars on the upswing in 2018. The post Audio Publishers Association Survey: Nearly $1 Billion in 2018 Sales appeared first on Publishing Perspectives. Continue reading at Publishing Perspectives
[ Publishing Perspectives | 2019-07-16 17:07:26 UTC ]
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Advantage Business Marketing—the Rockaway, N.J.-based B2B media company formerly known as Advantage Business Media until rebranding in a last-ditch pivot to marketing services a year ago—abruptly shut its doors this week, notifying its more than 50 employees that they were out of a job,... Continue reading at Folio Magazine
[ Folio Magazine | 2019-06-19 21:06:21 UTC ]
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