News Corp.'s publishing spinoff will be armed with $2.6 billion in cash and no debt, demonstrating Chairman Rupert Murdoch's passion for print even as the new company confronts an industry in decline.The cash pile could come in handy for acquisitions or just to shore up the publishing business, which includes the Wall Street Journal in the U.S. and the Sun newspaper in the U.K. The unit, which will become a separate publicly held business in June, will also have access to a revolving credit line, New York-based News Corp. said today in a filing.Mr. Murdoch, News Corp.'s founder and chief executive officer, is breaking off the division from the company's entertainment operations, which will be called Fox Group Inc. News Corp. agreed to the spinoff last year, bowing to pressure from shareholders who wanted the company to focus on its more valuable television and film businesses.News Corp. rose 1% to $30.25 at 10:20 a.m. The stock had increased 17% this year through yesterday, compared with an 8.3% gain for the Standard & Poor's 500 Index.The publishing spinoff will have $18.6 billion in total assets. Its debt-free balance sheet puts it far ahead of publishers such as New York Times Co., with $163 million in net debt; Gannett Co., with $1.26 billion; and McClatchy Co., with $1.78 billion, according to data compiled by Bloomberg.The parent company will give $1.82 billion in cash to the new publishing business, pushing its total to $2.6 billion, according to today's... Continue reading at 'Crains New York'
[ Crains New York | 2013-03-08 00:00:00 UTC ]
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Traffic to news publishers has dipped again since Facebook said it would prioritize users' posts in the news feed, according to multiple data sources. The post As promised, Facebook traffic to news publishers declines again, post news-feed change appeared first on Digiday. Continue reading at Digiday
[ Digiday | 2018-02-19 00:00:00 UTC ]
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Fire and Fury burned into the Weekly E-Book Ranking number one spot for a second week running, denying Kimberley Chambers her second ebook top spot. Continue reading at The Bookseller
[ The Bookseller | 2018-01-26 00:00:00 UTC ]
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Alliance of 2,000 organizations says the two companies’ dominance in online advertising and traffic has created an unsustainable future for journalismNews outlets are seeking permission from the US Congress for the right to negotiate jointly with Google and Facebook, two companies that dominate... Continue reading at The Guardian
[ The Guardian | 2017-07-10 00:00:00 UTC ]
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Would you rather get your news directly from publishers or from your Facebook friends?If you've been feeling like Facebook is clogging up your News Feed with too many dispiriting news stories and not enough cute baby pictures, this one's for you: The social network is tweaking its algorithm yet... Continue reading at Fast Company
[ Fast Company | 2016-06-30 00:00:00 UTC ]
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The modified algorithm will place higher value on posts by friends, family, and colleagues — at the expense of media brands. The post Facebook’s Latest News Feed Change Sounds Like Bad News for Publishers appeared first on Folio:. Continue reading at Folio Magazine
[ Folio Magazine | 2016-06-30 00:00:00 UTC ]
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The Weybret family has sold Lodi News-Sentinel to a new corporation, Central Valley News-Sentinel Inc, led by veteran newspaper publisher Steven Malkowich. The new owners have newspaper assets in the United States and Canada, including several ... Continue reading at Editor & Publisher
[ Editor & Publisher | 2015-05-28 00:00:00 UTC ]
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Thank you, thank you, to commenter DialMforMurdo for pointing to this brilliantly funny deconstruction of what follows, and precedes, that moment when BBC's News At Ten's presenters say: "Now here's the news where you are."Sit back and enjoy this three-minute skit by James Robertson, novelist,... Continue reading at The Guardian
[ The Guardian | 2014-06-16 00:00:00 UTC ]
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What American Booksellers Association CEO Oren Teicher called Amazon's "bullying assault of a major publisher" was a key concern among indie booksellers at both Thursday afternoon's ABA Town Hall and Annual Meeting. Continue reading at Publishers Weekly
[ Publishers Weekly | 2014-05-30 00:00:00 UTC ]
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It’s 2014, and for North American manga publishers, the digital revolution is well underway. Where there once were only a handful of publishers offering their titles online or via ebook apps, now almost all of them are offering, or negotiating to offer at least some of their current and backlist... Continue reading at Publishers Weekly
[ Publishers Weekly | 2014-02-14 00:00:00 UTC ]
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Magazine publishers have a tough choice: an exclusive, pricey deal with the wildly popular Apple conduit, or Googles open, less expensive and less trafficked vehicle. Continue reading at The New York Times
[ The New York Times | 2011-02-21 00:00:00 UTC ]
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How libraries should prepare for the incoming administration right now, from updating trustee descriptions to addressing mis/dis information. That, plus this week's book censorship news. Continue reading at Book Riot
[ Book Riot | 2024-11-22 13:30:00 UTC ]
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8080 Books plans to "publish original research, ideas and insights at the intersection of science, technology and business." Its inaugural title, 'No Prize for Pessimism' by Microsoft deputy chief technology officer Sam Schillace, was published on November 12. Continue reading at Publishers Weekly
[ Publishers Weekly | 2024-11-20 05:00:00 UTC ]
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Out of an impressive shortlist, Richard Flanagan’s Question 7 has won 2024’s Baillie Gifford Prize for Non-Fiction. Flanagan’s wide-ranging memoir and history weaves together H.G. Wells and Rebecca West’s affair, pre-war nuclear physics, his father’s imprisonment near Hiroshima when the American... Continue reading at Literrary Hub
[ Literrary Hub | 2024-11-19 22:15:16 UTC ]
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Books removed from Florida libraries include books by and about marginalized people as well as classic authors like George Orwell. Continue reading at Book Riot
[ Book Riot | 2024-11-15 12:15:00 UTC ]
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President-elect Donald Trump announced Tuesday that Fox & Friends Weekend co-host Pete Hegseth is his pick to run the Department of Defense. As a result of this nomination, Hegseth will depart his Fox News role immediately. "Pete Hegseth has been an exceptional host... Continue reading at AdWeek
[ AdWeek | 2024-11-13 17:52:24 UTC ]
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We have Spider-Man updates, Kelsey Impicciche's forthcoming book, and more book news to have on your radar! Continue reading at Book Riot
[ Book Riot | 2024-11-12 11:30:00 UTC ]
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Here are the news stories from the week in books and reading worth knowing about Continue reading at Book Riot
[ Book Riot | 2024-11-09 19:58:13 UTC ]
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"Are we continuing to pretend that libraries are inherently neutral and apolitical institutions?" Thoughts? Continue reading at Book Riot
[ Book Riot | 2024-11-08 12:30:00 UTC ]
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There is so much to complain about in the book world at the current moment, from Amazon’s stranglehold on book retail to the increasing usage of generative AI to replace writers and artists of all kinds. But you’re reading this column on Thursday; I turned it in on Tuesday, Election Day. I have... Continue reading at Literrary Hub
[ Literrary Hub | 2024-11-07 12:52:28 UTC ]
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PW and Barnes & Noble kick off Best Books of the Year season, the NYT looks at the best new releases of November, and more. Continue reading at Book Riot
[ Book Riot | 2024-11-03 16:00:00 UTC ]
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