Paramount is laying off 15 percent of its US workforce, according to reporting by Deadline. This follows a lean second quarter earnings report in which total revenue fell short from an expected $7.21 billion to $6.81 billion. The layoffs will impact around 3,000 people. “The industry continues to evolve, and Paramount is at an inflection point where changes must be made to strengthen our business,” company CEOs wrote in a staff memo. Paramount representatives say these cuts will happen in three stages, with layoffs beginning today and 90 percent of all cuts being completed by the end of September. The layoffs will primarily impact employees involved in marketing and communications, though the company’s legal and finance arms will also face cuts. Paramount already laid off three percent of its workforce back in February, and this was after a three percent increase in revenue growth that was largely credited to its streaming and film businesses. So, a three percent increase of revenue translated to a three percent reduction of Paramount’s workforce and missing revenue expectations by around four percent is leading to layoffs accounting for 15 percent of company employees. Workers can’t catch a break. All of these layoffs are likely being used to clear the runway, so to speak, for the forthcoming merger with Skydance. The merger was announced back in June and will soon head to the regulatory review process. Paramount has also been raising prices for its streaming service... Continue reading at 'Engadget'
[ Engadget | 2024-08-13 15:31:20 UTC ]
Among the stories making news this week: veteran bookseller and library advocate Tim Coates releases a reader-focused survey; more drama over Drag Queen Storytimes; and what to expect from all the talk of antitrust action in the tech sector. Continue reading at Publishers Weekly
[ Publishers Weekly | 2019-06-14 04:00:00 UTC ]
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The Global Literature in Libraries Initiative takes translations to the ALA Annual Conference and administers a YA prize. Continue reading at Publishers Weekly
[ Publishers Weekly | 2019-06-14 04:00:00 UTC ]
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The corporate home of Wonder Woman, Harry Potter and “Friends” weighs how its streaming service can compete on price with Disney, Netflix and Amazon. Continue reading at The New York Times
[ The New York Times | 2019-06-03 00:03:36 UTC ]
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Bloomsbury’s results for the year ending 28th February 2019 show “outstanding performance” in the academic and professional division with a 13% increase in revenue growth, as it unveils a partnership with educational publishers Human Kinetics and Taylor and Francis. Continue reading at The Bookseller
[ The Bookseller | 2019-05-21 03:51:48 UTC ]
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The streaming service is on a book-buying spree as it seeks more content for its ever-growing global subscriber base. Continue reading at Publishers Weekly
[ Publishers Weekly | 2019-04-12 00:00:00 UTC ]
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NEW YORK — Folio: is pleased to unveil its 2018 Folio: 100 Honorees. Each year, an elite group of media professionals are selected to represent the best and brightest minds in magazine and digital media today. The 2018 class of honorees includes: Hearst Magazine's Troy Young, National... Continue reading at Folio Magazine
[ Folio Magazine | 2018-11-07 00:00:00 UTC ]
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[caption id="attachment_134125" align="alignright" width="150"] Kelley Gudahl[/caption] Kelley Gudahl was tapped as Fatherly’s first VP of marketing this week. In her new position, Gudahl will be tasked with leading the pre-sale RFP process, generating multi-purpose franchise ideas with the... Continue reading at Folio Magazine
[ Folio Magazine | 2018-08-23 00:00:00 UTC ]
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[caption id="attachment_128255" align="alignright" width="150"] Greg Garry[/caption] Former photo director of Out Magazine, Greg Garry, is joining Entertainment Weekly. Starting this week, Garry will oversee EW’s photography team from the New York office until this fall when he transfers to the... Continue reading at Folio Magazine
[ Folio Magazine | 2018-07-19 00:00:00 UTC ]
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'We cannot stand silent,' says the CEO of Macmillan, parent to 'Fire and Fury' publisher Henry Holt. In his staff memo,' John Sargent calls out Donald Trump's 'clear effort...to intimidate a publisher.' The post Macmillan’s John Sargent on Trump ‘Fire and Fury’ Cease-and-Desist: ‘Flagrantly... Continue reading at Publishing Perspectives
[ Publishing Perspectives | 2018-01-08 00:00:00 UTC ]
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When Netflix acquired Mark Millar's comic book empire in August, many assumed the streaming service would just adapt his various works for the screen. That isn't quite the case: Netflix announced today that it will publish The Magic Order as a comic... Continue reading at Engadget
[ Engadget | 2017-11-08 00:00:00 UTC ]
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Netflix announced its first-ever acquisition, snapping up a comic-book publisher and pushing a strategy that has also been popular with major Hollywood studios for years: Superheroes.Netflix agreed to buy Millarworld, the publisher behind characters and stories like "Kingsman" and "Old Man... Continue reading at Advertising Age
[ Advertising Age | 2017-08-08 00:00:00 UTC ]
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Netflix has acquired the comic book publisher Millarworld, giving the streaming service a handful of new titles even as it continues to build out its Marvel world. Today, Netflix announced the deal as its first acquisition, which gives it comic titles such as Kick-Ass, Kingsman and Wanted. Terms... Continue reading at AdWeek
[ AdWeek | 2017-08-07 00:00:00 UTC ]
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The weirdest superhero to ever cross over into the mainstream returns on Amazon in August, and the streaming service wants him to do some good. Before the superhero boom of the ’00s led to the superhero glut of the ’10s, there was The Tick. The character, created by cartoonist Ben Edlund to... Continue reading at Fast Company
[ Fast Company | 2017-07-11 00:00:00 UTC ]
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With book production down 40 percent in Russia, the country's publishers are looking to favorable book pricing as a source of revenue growth in 2017. The post Growing Russian Book Market Looks to Educational and Children’s Books in 2017 appeared first on Publishing Perspectives. Continue reading at Publishing Perspectives
[ Publishing Perspectives | 2017-01-12 00:00:00 UTC ]
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Spotify has come an agreement with NMPA (National Music Publishers Association) over unpaid royalties for music on the streaming service that didn't have copyright owner information. According to The Verge, the company will pay $21 million. Continue reading at Engadget
[ Engadget | 2016-03-18 00:00:00 UTC ]
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Chris Hughes' ownership of The New Republic looks like it will come to an end.The Facebook co-founder, in a staff memo later published on Medium, announced that he is seeking a new owner for the magazine, which he acquired in 2012."After investing a great deal of time, energy, and over $20... Continue reading at Advertising Age
[ Advertising Age | 2016-01-11 00:00:00 UTC ]
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With competition from Netflix and a host of new digital video providers, the television industry has undergone seismic changes over the last five years. But one thing has remained constant: TV is still by far the most effective advertising medium. That's the finding of a new study Turner... Continue reading at AdWeek
[ AdWeek | 2015-06-09 00:00:00 UTC ]
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With the September release of Storia School Edition, Scholastic will move its digital reading platform to a streaming service. Continue reading at Publishers Weekly
[ Publishers Weekly | 2014-07-29 00:00:00 UTC ]
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