Daily Mail and Daily Mirror parent companies to get share of weather information business's €190m sale to General AtlanticThe owners of the Daily Mail and Daily Mirror are among a group of publishers sharing a pre-Christmas windfall of £50m, thanks to PA Group's €190m (£126m) sale of its weather information business MeteoGroup.PA Group, the parent company of the Press Association news agency, expects to make around £125m from the sale of the business to General Atlantic.The biggest beneficiary is expected be Trinity Mirror, owner of the Daily Mirror, Sunday Mirror and Sunday People, which owns 21.5% of PA Group.The surprise news of a windfall of about £27m sent Trinity Mirror's share price to its highest level since October 2009, up more than 6% to 190p on Monday. The cash injection will make a big difference to the publisher's bottom line. In 2011 pre-tax profits fell 40% to £74m, with analysts at Panmure Gordon calling it "extraordinary hidden value"."Whilst Trinity Mirror anticipates a distribution of a portion of the proceeds through dividends after completion, the quantum and timing of any distribution is yet to be determined," said the company in a statement.Another beneficiary is Daily Mail & General Trust, owner of the Daily Mail and Mail on Sunday, which own 15.6% of PA Group and will make about £19.5m from the deal."DMGT anticipates a distribution of a portion of the proceeds through dividends after completion, though the amount and timing of any... Continue reading at 'The Guardian'
[ The Guardian | 2013-12-16 00:00:00 UTC ]
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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,... Continue reading at Crains New York
[ Crains New York | 2013-03-08 00:00:00 UTC ]
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The ebook is still central to B&N's strategy, but it's not selling. Barnes & Noble revealed disappointing third quarter finances this morning, including a serious decline in revenues from its Nook digital e-readers. Overall revenues were $2.2 billion, down 8.8% year on year, and its... Continue reading at Fast Company
[ Fast Company | 2013-02-28 00:00:00 UTC ]
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Tribune Co. has hired investment bankers to advise the media company on the sale of its newspaper publishing unit, according to a source familiar with the matter. Continue reading at Los Angeles Times
[ Los Angeles Times | 2013-02-27 00:00:00 UTC ]
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Sales of books for children surged in the UK last week, as schools broke for the spring half-term... Continue reading at The Bookseller
[ The Bookseller | 2013-02-26 00:00:00 UTC ]
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At a time when many independent booksellers both here and abroad are beginning to gain traction selling Kobo ebooks, other retailers are eyeing the secondary market for ebooks and other digital content. Continue reading at Publishers Weekly
[ Publishers Weekly | 2013-02-16 00:00:00 UTC ]
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Preliminary estimates from the Census Bureau show that US bookstores as a whole experienced a 0.5 percent decrease in sales for the year of 2012. Continue reading at The Christian Science Monitor
[ The Christian Science Monitor | 2013-02-14 00:00:00 UTC ]
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Jeff Bewkes and company used to insist they wanted to hang on to their magazine business. They stopped saying that in September. Continue reading at AllThingsD
[ AllThingsD | 2013-02-14 00:00:00 UTC ]
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Mimi Spencer and Michael Mosley's intermittent fasting guide, The Fast Diet, was comfortably... Continue reading at The Bookseller
[ The Bookseller | 2013-02-05 00:00:00 UTC ]
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Agent Juliet Mushens has joined Jonathan Conway at The Agency Group, as it opens a new UK... Continue reading at The Bookseller
[ The Bookseller | 2013-02-05 00:00:00 UTC ]
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Cambridge University Press has completed the sale of its U.S. warehouse and distribution facility in West Nyack, N.Y. CUP announced plans to sell the warehouse as part of a strategic process that included an agreement last summer with Ingram Publisher Services to have Ingram manage the... Continue reading at Publishers Weekly
[ Publishers Weekly | 2013-02-04 00:00:00 UTC ]
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Whatever Kindle sales were in Q4, they could have been better had Amazon not sold out of its flagship e-reader. Continue reading at AllThingsD
[ AllThingsD | 2013-01-30 00:00:00 UTC ]
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Amazon saw record sales growth of 22% to $21bn (£13bn) over the Christmas period, with the... Continue reading at The Bookseller
[ The Bookseller | 2013-01-30 00:00:00 UTC ]
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The group title under which the combined lists of Frances Lincoln, Aurum Press, Jacqui Small,... Continue reading at The Bookseller
[ The Bookseller | 2013-01-25 00:00:00 UTC ]
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Apple sold a "record" 22.9 million iPads during its last quarter but failed to meet... Continue reading at The Bookseller
[ The Bookseller | 2013-01-24 00:00:00 UTC ]
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Book sales at WH Smith have dropped 6% like-for-like across the high street and travel divisions... Continue reading at The Bookseller
[ The Bookseller | 2013-01-23 00:00:00 UTC ]
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Sales of printed books plummeted with the mercury last week, with data from book sales monitors... Continue reading at The Bookseller
[ The Bookseller | 2013-01-22 00:00:00 UTC ]
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Three CEOs at this year's Digital Book World conference spoke about how they are reaching out directly to consumers and what they can do better. Continue reading at Publishing Perspectives
[ Publishing Perspectives | 2013-01-17 00:00:00 UTC ]
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The value of the children’s physical books market last year was marginally up on 2011,... Continue reading at The Bookseller
[ The Bookseller | 2013-01-17 00:00:00 UTC ]
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Dixons' strong Christmas trading was spurred on by tablet sales, the electrical goods... Continue reading at The Bookseller
[ The Bookseller | 2013-01-17 00:00:00 UTC ]
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Sales at independent bookstores rose almost 8 percent during the year, according to data from about 500 stores. Continue reading at The Christian Science Monitor
[ The Christian Science Monitor | 2013-01-12 00:00:00 UTC ]
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