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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Vivendi has updated its plans to separate into three entities. One of these would be the newly named company, Louis Hachette Group, which includes Vivendi’s 63.5% majority stake in Lagardère, the parent company of Hachette Livre. Continue reading at Publishers Weekly
[ Publishers Weekly | 2024-07-25 04:00:00 UTC ]
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It wouldn’t be San Diego Comic-Con without a little drama, some big questions, and a lot of hype. We've rounded up the big stories of this year's show—among them the show’s future in the city that gives it its name—and the top 21 panels to attend. Continue reading at Publishers Weekly
[ Publishers Weekly | 2024-07-23 04:00:00 UTC ]
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Too hot outside? Stay cool with these YA adaptations you can stream right now on Prime, Hulu, Disney Plus, and Netflix. Continue reading at Book Riot
[ Book Riot | 2024-07-18 15:30:00 UTC ]
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If you had a sudden urge to review the 2016 memoir for some reason, you might be out of luck right now. Yesterday, former president Donald Trump announced his running mate for the 2024 election: Senator JD Vance of Ohio. Vance, a onetime fierce critic of Trump, is a relative newcomer to... Continue reading at Fast Company
[ Fast Company | 2024-07-16 12:25:00 UTC ]
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The NYT's best books of the century so far, romance bookstores are on the rise, and more publishing industry news. Continue reading at Book Riot
[ Book Riot | 2024-07-14 15:00:00 UTC ]
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Amazon’s Prime Day Chromebook deals are ramping up in anticipation of the big event beginning on July 16. We’re busy poring through early Prime Day sales, looking for the best Chromebook deals on both budget and premium machines. Prime Day takes place on July 16 and July 17 this year,... Continue reading at PC World
[ PC World | 2024-07-12 10:10:00 UTC ]
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All of the YA comics and YA nonfiction hitting shelves in July, plus your YA book news. Continue reading at Book Riot
[ Book Riot | 2024-07-11 15:45:00 UTC ]
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Scribbling on the pages of a real book is a capital sin, but not when you have a Kindle Scribe. It has all the features of a Kindle except you can also write and draw directly on the pages of your ebooks. And right now the Kindle Scribe is more affordable than ever at $260 for Prime... Continue reading at PC World
[ PC World | 2024-07-10 14:20:14 UTC ]
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The bestselling books of the week, the indie bookstore shipping LGBTQ titles to states where they're banned, and more. Continue reading at Book Riot
[ Book Riot | 2024-07-06 15:00:00 UTC ]
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A Rastafarian memoir for fans of Educated, a final girls thriller, a love letter to bookstores, and more of today's best book deals. Continue reading at Book Riot
[ Book Riot | 2024-07-02 15:05:00 UTC ]
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Amazon Prime built its popularity by offering subscribers faster free shipping, access to streaming movies and TV shows, and exclusive deals (most noticeably during the company’s Prime Day dealfest, coming again July 16 and 17). But Prime membership includes other perks, too: Everything... Continue reading at PC World
[ PC World | 2024-07-01 13:28:52 UTC ]
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The bestselling books of the week, the best historical fiction of 2024 so far, book banning updates, and more. Continue reading at Book Riot
[ Book Riot | 2024-06-29 15:00:00 UTC ]
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In a memoir and a novel, the characters deal with grief by singing in front of strangers. Continue reading at The New York Times
[ The New York Times | 2024-06-29 11:50:03 UTC ]
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In an era before public libraries and widespread public education, the first U.S. union knew their importance. That, plus this week's book censorship news. Continue reading at Book Riot
[ Book Riot | 2024-06-28 13:00:00 UTC ]
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Read your way into excellent 2024 YA books featuring nonbinary characters, plus this week's YA book news. Continue reading at Book Riot
[ Book Riot | 2024-06-27 15:30:00 UTC ]
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A big week of book news includes Barnes & Noble buying an indie, surprisingly strong book sales, JAMES coming to the big screen, and much more. Continue reading at Book Riot
[ Book Riot | 2024-06-22 13:45:00 UTC ]
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This week's new YA paperback releases and YA news, including a Tony-award winning musical adaptation of a teen classic. Continue reading at Book Riot
[ Book Riot | 2024-06-20 15:30:00 UTC ]
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Seven states have anti-book ban laws on the books, with several others progressing this legislative session. That, plus this week's extensive book censorship news roundup. Continue reading at Book Riot
[ Book Riot | 2024-06-14 13:30:00 UTC ]
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I’d bought my copy of James Joyce’s Ulysses at a Barnes and Noble in Manhattan in 1999, the summer before I left for college, along with a stack of other novels that I was convinced my much-smarter classmates would have already read. How I even decided which novels those were, I am still not... Continue reading at Literrary Hub
[ Literrary Hub | 2024-06-14 08:56:12 UTC ]
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Looking for a productive way to read and take notes at the same time? Then you probably need this Kindle Scribe that’s currently only $280, way down from its usual price tag of $390. Unlike the other Kindle devices that are mainly for reading, the Kindle Scribe is designed for jotting... Continue reading at PC World
[ PC World | 2024-06-10 14:21:42 UTC ]
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