PA Group sale of MeteoGroup provides cash bonus for DMGT and Trinity

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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Bumper new releases help book sales surge

Book sales soared by more than £2m last week as a bounty of new books hit the shelves on... Continue reading at The Bookseller

[ The Bookseller | 2012-09-18 00:00:00 UTC ]
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BiblioBoard: New Sales Channel for Digital Content

Created by the founders of BookSurge, the print-on-demand vendor acquired by Amazon, BiblioBoard is a new app and e-publishing platform that offers a library of public domain content bundled into subject category anthologies. The BiblioBoard app offers these BiblioLife anthologies at different... Continue reading at Publishers Weekly

[ Publishers Weekly | 2012-09-15 00:00:00 UTC ]
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Argos sees return to sales growth

Argos returns to sales growth, led by the popularity of tablet computers and ebook readers, says owner Home Retail Group. Continue reading at BBC News

[ BBC News | 2012-09-13 00:00:00 UTC ]
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ReKiosk Tries an Indie Online Sales Model

Aziz Isham did not intend to get into retailing. Instead, ReKiosk, the online storefront he cofounded that started up last week—it currently offers only music and books—came out of conversations he had been having with independent publishers. All of them, he said, expressed frustration over the... Continue reading at Publishers Weekly

[ Publishers Weekly | 2012-09-07 00:00:00 UTC ]
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US sales plunge most in biggest markets

The top US regional book markets have seen print sales drop year on year at a far greater rate... Continue reading at The Bookseller

[ The Bookseller | 2012-09-07 00:00:00 UTC ]
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Penguin Group hit with age discrimination suit

Some well-kept secrets at Penguin Group, most notably the succession plan for its CEO, were put on display late Wednesday with the filing of an age discrimination lawsuit by the book publisher's former longtime head of corporate communications, Marilyn Ducksworth. Her lawyers charge Penguin with... Continue reading at Crains New York

[ Crains New York | 2012-09-07 00:00:00 UTC ]
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E L James breaks another sales record

E L James has broken J K Rowling's annual sales record as she begins a sixth month at the... Continue reading at The Bookseller

[ The Bookseller | 2012-09-05 00:00:00 UTC ]
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Sales rise at Profile

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[ The Bookseller | 2012-09-04 00:00:00 UTC ]
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Hachette UK and Commonwealth sees 8% sales drop in first half

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[ The Bookseller | 2012-08-31 00:00:00 UTC ]
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Community groups asked to take on Wakefield libraries

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[ The Bookseller | 2012-08-29 00:00:00 UTC ]
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PA: digital crucial to campus retail future

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[ The Bookseller | 2012-08-28 00:00:00 UTC ]
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New stock focus boosts HMV book sales

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[ The Bookseller | 2012-08-24 00:00:00 UTC ]
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W H Smith reports high street book sales increase

W H Smith has announced that it expects full-year results to be at the top end of market... Continue reading at The Bookseller

[ The Bookseller | 2012-08-23 00:00:00 UTC ]
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Erotica boom affects genre sales

The recent boom in sales of erotic fiction is "cannibalising" the rest of the UK book market, trade magazine The Bookseller says. Continue reading at BBC News

[ BBC News | 2012-08-22 00:00:00 UTC ]
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