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 ]
News tagged with:
#$1 billion
#global conversation
#good hands
#developing story
For a few days in October 2023, the capital of the science fiction world was Chengdu, China Continue reading at ABC News
[ ABC News | 2024-02-29 02:54:58 UTC ]
More news stories like this | News stories tagged with:
#science fiction
Praising 'their attentiveness to the world,' the 2024 Sunday Times Young Writer of the Year jury names four authors to its shortlist. The post UK: The Sunday Times Young Writer 2024 Shortlist appeared first on Publishing Perspectives. Continue reading at Publishing Perspectives
[ Publishing Perspectives | 2024-02-27 17:20:22 UTC ]
More news stories like this | News stories tagged with:
#post uk
#young writer
The managing director of Usborne Publishing reflects on the legacy of her father, the company’s founder, who died last year. Continue reading at Publishers Weekly
[ Publishers Weekly | 2024-02-23 05:00:00 UTC ]
More news stories like this | News stories tagged with:
#publishing spotlight
The L.A. Times Book Prizes honor 66 works in 13 categories celebrating exceptional writing from authors at all stages of their careers. Continue reading at Los Angeles Times
[ Los Angeles Times | 2024-02-21 13:00:41 UTC ]
More news stories like this | News stories tagged with:
#yiyun li
#times book
CEO Ben Mandrell tells PW the turnaround strategy was to refocus on the original mission—serving pastors and church leaders. Continue reading at Publishers Weekly
[ Publishers Weekly | 2024-02-20 05:00:00 UTC ]
More news stories like this | News stories tagged with:
‘What Happens Next,’ coming from Thomas Nelson in August, is the first book on the biblical end times by bestselling author and pastor Max Lucado. Continue reading at Publishers Weekly
[ Publishers Weekly | 2024-02-20 05:00:00 UTC ]
More news stories like this | News stories tagged with:
#max lucado
#thomas nelson
#bestselling author
Pete Stavros, co-head of global equity for KKR, said that it will be at least five years before the private equity firm considers selling Simon & Schuster, which it bought last fall. Stavros added that he has many hopes for what S&S can accomplish before he looks for a new home for the... Continue reading at Publishers Weekly
[ Publishers Weekly | 2024-02-15 05:00:00 UTC ]
More news stories like this | News stories tagged with:
The longest Super Bowl game will also go down as the most-watched program in U.S. television history. According to Nielsen and Adobe Analytics, Kansas City's 25-22 overtime victory over San Francisco on Sunday night averaged 123.4 million viewers across television and streaming platforms. Continue reading at CBC
[ CBC | 2024-02-13 13:58:34 UTC ]
More news stories like this | News stories tagged with:
#adobe analytics
#kansas city
#streaming platforms
#nielsen
From fan fiction about Disney cartoons having sex to raunchy shows from Hollywood stars, pornographic audio is podcasting’s hottest new trendHave you ever stood at the school gates, waiting to pick up your six-year-old, while secretly listening to fan fiction about Harry Potter and Draco Malfoy... Continue reading at The Guardian
[ The Guardian | 2024-02-12 16:32:24 UTC ]
More news stories like this | News stories tagged with:
#fan fiction
#hollywood stars
#harry potter
The streaming company says its payout model is competitive, but the Society of Authors has raised doubts about whether authors ultimately benefit Spotify has said that it has paid audiobook publishers “tens of millions” since allowing users 15 hours of audiobook listening in its Premium... Continue reading at The Guardian
[ The Guardian | 2024-02-01 16:08:34 UTC ]
More news stories like this | News stories tagged with:
#audiobook listening
#trade magazine
#audiobook
Just like death and taxes, you can usually rely on a Call of Duty game to top the sales charts each year. The various entries in Activision’s warfare simulation franchise have mostly done just that, going all the way back to 2009. This year’s a bit different. Call of Duty: Modern Warfare III has... Continue reading at Engadget
[ Engadget | 2024-01-18 19:16:41 UTC ]
More news stories like this | News stories tagged with:
#hogwarts legacy
#holiday season
#harry potter
Katherine Min's Korean American debut novel was ignored. After she died in 2019, publishers worked to put out her second novel, 'The Fetishist.' Continue reading at Los Angeles Times
[ Los Angeles Times | 2024-01-18 11:00:57 UTC ]
More news stories like this | News stories tagged with:
#debut novel
On Tuesday, the ownership group that controls Denver's Tattered Cover bookstores filed the first part of its bankruptcy reorganization plans, citing some $3.1 million owed to unsecured creditors, including half a million dollars to its former CEO. A further $820,000 is owed to secured lenders. Continue reading at Publishers Weekly
[ Publishers Weekly | 2024-01-18 05:00:00 UTC ]
More news stories like this | News stories tagged with:
#unsecured creditors
#$4 million
#ownership group
#million dollars
An inside look at the debut speculative novel so charming that Avid Reader Press executive editor Margo Shickmanter preempted it from her bathtub. Continue reading at Publishers Weekly
[ Publishers Weekly | 2024-01-16 05:00:00 UTC ]
More news stories like this | News stories tagged with:
William Gladstone, the literary agent, publisher, author, and founder of Waterside Productions, died on December 27. Continue reading at Publishers Weekly
[ Publishers Weekly | 2024-01-12 05:00:00 UTC ]
More news stories like this | News stories tagged with:
#literary agent
Another year, another record: OverDrive reps reported this week that 152 libraries around the world reached million-checkout milestone last year, including 23 first-timers. Continue reading at Publishers Weekly
[ Publishers Weekly | 2024-01-11 05:00:00 UTC ]
More news stories like this | News stories tagged with:
#record number
#libraries
If you’re looking for more ways to earn an income or diversify revenue streams, e-books are a great avenue. You don’t need to be an expert, either. With My AI eBook Creation Pro, you can create premium e-books in a matter of clicks without the writing or design expertise. Powered by... Continue reading at PC World
[ PC World | 2024-01-10 08:00:00 UTC ]
More news stories like this | News stories tagged with:
#target audience
#suggested titles
#revenue stream
#lifetime subscription
#editorial independence
#e-book
The newly launched lawsuit of OpenAI and Microsoft by The New York Times parallels legal actions from the book publishing industry. The post AI: Copyright Challenges Now Include a New York Times Lawsuit appeared first on Publishing Perspectives. Continue reading at Publishing Perspectives
[ Publishing Perspectives | 2024-01-04 19:59:05 UTC ]
More news stories like this | News stories tagged with:
#post ai
#book publishing
Vignette Books is new online bookstore based in Austin, Tex., cofounded by a former employee at Book People. It has attracted an audience willing to gamble on buying used and vintage books based solely on their categories, without knowing exactly which title will arrive. Continue reading at Publishers Weekly
[ Publishers Weekly | 2024-01-04 05:00:00 UTC ]
More news stories like this | News stories tagged with:
#book people
#bookstore