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 ]
News tagged with:
#5% stake
#50% stake
Reports in Russia describe a 60-percent growth in ebook sales last year, and analysts say digital formats may grow at 30 to 50 percent for years to come. The post Russia’s Readers Raise the Digital Stakes Amid Falling Print Sales appeared first on Publishing Perspectives. Continue reading at Publishing Perspectives
[ Publishing Perspectives | 2017-05-22 00:00:00 UTC ]
More news stories like this | News stories tagged with:
#post russia
#ebook sales
#digital formats
The Society of Authors is calling on publishers to consider the impact that bulk “special sales” deals are having on both author and publisher earnings. Continue reading at The Bookseller
[ The Bookseller | 2017-05-19 00:00:00 UTC ]
More news stories like this | News stories tagged with:
#bulk sales
Led by strong gains in its children’s publishing division, revenue at Bloomsbury rose 15% in the fiscal year ended February 28, 2017 over fiscal 2016. Profits slipped, however, dropping to £9.4 million from £10.3 million in fiscal 2016. Continue reading at Publishers Weekly
[ Publishers Weekly | 2017-05-18 00:00:00 UTC ]
More news stories like this | News stories tagged with:
#strong gains
#publishing division
The nonprofit Everytown for Gun Safety has recruited a group of book industry professionals--over 130 writers, illustrators, editors and agents--to speak out against gun violence. Continue reading at Publishers Weekly
[ Publishers Weekly | 2017-05-18 00:00:00 UTC ]
More news stories like this | News stories tagged with:
#advocacy group
#gun violence
After falling in the first two months of the year, compared to the same period in 2016, bookstore sales rose in March. They climbed 2.4%, to $725 million. Continue reading at Publishers Weekly
[ Publishers Weekly | 2017-05-15 00:00:00 UTC ]
More news stories like this |
In an amicus brief, AAP lawyers argue that a reversal legalizing the resale of digital media would be "catastrophic" for the publishing industry. Continue reading at Publishers Weekly
[ Publishers Weekly | 2017-05-13 00:00:00 UTC ]
More news stories like this | News stories tagged with:
#publishing industry
Sales at Regnery jumped 48.9% in the first quarter ended March 31, largely thanks to the strong sales of David Limbaugh's 'The True Jesus.' Continue reading at Publishers Weekly
[ Publishers Weekly | 2017-05-12 00:00:00 UTC ]
More news stories like this | News stories tagged with:
#strong sales
#true jesus
Bertelsmann, which has a 53% stake in Penguin Random House, has reported 7% rise in group profit in its first quarter to almost €200m. Continue reading at The Bookseller
[ The Bookseller | 2017-05-12 00:00:00 UTC ]
More news stories like this | News stories tagged with:
#group profit
Revenue at the publisher rose 4% in the third quarter of fiscal 2017, to $374 million. Earnings increased 3%, to $37 million. Continue reading at Publishers Weekly
[ Publishers Weekly | 2017-05-10 00:00:00 UTC ]
More news stories like this |
Authors' and publishers' groups are protesting a change in Amazon's third-party sales policy. The retailer says it's in line with 'the rest of Amazon.' The post Authors Guild Joins Warnings on Amazon’s Buy-Button Book Sales Policy appeared first on Publishing Perspectives. Continue reading at Publishing Perspectives
[ Publishing Perspectives | 2017-05-09 00:00:00 UTC ]
More news stories like this |
Pearson said it has plans to further reduce costs by $300 million, and it is also reviewing its strategic options for the K-12 courseware business. Continue reading at Publishers Weekly
[ Publishers Weekly | 2017-05-08 00:00:00 UTC ]
More news stories like this | News stories tagged with:
#pearson plans
#reduce costs
#$300 million
#strategic options
Ed Christie, UK sales director at Random House, is leaving the company after 28 years, following a shake-up of PRH's UK sales leadership team. Continue reading at The Bookseller
[ The Bookseller | 2017-05-05 00:00:00 UTC ]
More news stories like this | News stories tagged with:
#prh sales
#random house
At outlets that report to NPD BookScan, unit sales of print books were 3% higher in the week ended Apr. 30, 2017, than in the similar week in 2016. Continue reading at Publishers Weekly
[ Publishers Weekly | 2017-05-05 00:00:00 UTC ]
More news stories like this | News stories tagged with:
#print books
#3% higher
Revenue at Simon & Schuster rose 11% in the first quarter ended March 31, 2017 over the comparable period a year ago, while operating income increased 8%. Continue reading at Publishers Weekly
[ Publishers Weekly | 2017-05-04 00:00:00 UTC ]
More news stories like this | News stories tagged with:
#earnings rise
The process of selling the storied magazine giant comes with an added, intangible price. The post The ‘Devastating’ Opportunity Cost of Time Inc.’s Sale Process appeared first on Folio:. Continue reading at Folio Magazine
[ Folio Magazine | 2017-05-03 00:00:00 UTC ]
More news stories like this | News stories tagged with:
#sale process
The mass merchandiser channel, which had struggled before the runup to Easter, continued its rebound in late April. Continue reading at Publishers Weekly
[ Publishers Weekly | 2017-04-28 00:00:00 UTC ]
More news stories like this | News stories tagged with:
#bounce back
#late april
The publisher will pursue its "own strategic plan," the company announced this morning. The post Time Inc. Puts a Hold on Sale Rumors appeared first on Folio:. Continue reading at Folio Magazine
[ Folio Magazine | 2017-04-28 00:00:00 UTC ]
More news stories like this | News stories tagged with:
#post time
#strategic plan
#company announced
As the new head of Barnes & Noble, Demos Parneros knows his top priority is to stop the sales slide that has plagued the company’s retail stores. Continue reading at Publishers Weekly
[ Publishers Weekly | 2017-04-28 00:00:00 UTC ]
More news stories like this | News stories tagged with:
#sales slide
#barnes noble
#demos parneros
#top priority
#retail stores
U.K. publishing sales rose 7% in 2016 over 2015, fueled by rising exports from a Brexit-weakened pound. Continue reading at Publishers Weekly
[ Publishers Weekly | 2017-04-28 00:00:00 UTC ]
More news stories like this | News stories tagged with:
#sales jump
#boom year
It's official: Time Inc. has not found a buyer -- and is no longer considering offers. In an announcement that put a cap on months of speculation over who would buy the publishing giant and when, Time Inc. said Friday morning that the "Company will continue to pursue its strategic plan."The... Continue reading at Advertising Age
[ Advertising Age | 2017-04-28 00:00:00 UTC ]
More news stories like this | News stories tagged with:
#friday morning
#strategic plan
#magazine group
#continued growth
#digital audiences
#digital revenues
#magazine publishers
#crucial source