The Independent is up for sale. The paper's founder, and current chairman of its publishing company, Andreas Whittam Smith, has been authorised to seek out a buyer.The owners, Alexander Lebedev and his son, Evgeny, have been indicating for some time that they would be happy to dispose of the paper and its sister titles, i, and the Independent on Sunday.They have made various cryptic statements over the last six months about their willingness to offload loss-making papers that they see no prospect of turning into profit.Alexander Lebedev's fortunes, based on a variety of businesses in Russia, have declined dramatically over the last couple of years.The first major indication of his decision to sell the papers was two key changes of personnel on the board of the company responsible for running them, Independent Print.Whittam Smith moved from being a non-executive director to become chairman. And, most striking of all, Evgeny stood down from the board.The official line from Independent Print is that Whittam Smith is merely seeking new investors. But the reality is that the papers are in play. Whittam Smith is said to feel "honour bound" to save the title he launched in 1986 and to do all he can to find someone willing to continue publishing the paper.At present, bankers have not been appointed. And no genuine bidder, thus far, has emerged. (Rumours some weeks ago that Charles Saatchi was interested were quickly scotched).It would appear that Whittam Smith has put out a... Continue reading at 'The Guardian'
[ The Guardian | 2014-01-16 00:00:00 UTC ]
German consumer electronics company Ceconomy has paid €425m to acquire the controlling stake of 24.33% in the Fnac Darty, the largest French cultural product chain, from Artémis. Continue reading at The Bookseller
[ The Bookseller | 2017-07-28 00:00:00 UTC ]
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For the first time in its 129-year history, the Financial Times said digital advertising revenue has surpassed print. The company credits a chunk of its success to content marketing studio Alpha Grid, which it acquired a controlling stake in last June.The Alpha Grid acquisition was part of a... Continue reading at Advertising Age
[ Advertising Age | 2017-04-20 00:00:00 UTC ]
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Oakley Capital, which has controlling stake in magazine, intends floating company on London AIM market in JuneTime Out, the lifestyle and listing magazine turned international digital media business, is planning a stock market flotation later this year.Oakley Capital, which acquired a... Continue reading at The Guardian
[ The Guardian | 2016-04-29 00:00:00 UTC ]
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German publisher, Axel Springer, agrees to buy a controlling stake in the US news website Business Insider for $343m (£226m). Continue reading at BBC News
[ BBC News | 2015-09-29 00:00:00 UTC ]
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The Rights House co-chief executive Michael Foster has sold his controlling stake in the literary... Continue reading at The Bookseller
[ The Bookseller | 2013-05-28 00:00:00 UTC ]
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Time Warner Inc. will spin off its magazine business later this year, turning the nine-decade-old publisher of Time, People and Sports Illustrated into a separate publicly held company.The board authorized management to proceed with the plan after a review of options, the New York-based media... Continue reading at Crains New York
[ Crains New York | 2013-03-07 00:00:00 UTC ]
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Written By: Graeme Neill Publication Date: Mon, 03/10/2011 - 15:21 Canongate has sold its controlling stake in Australian publisher Text Publishing to Maureen and Tony Wheeler, the founders of Lonely Planet. The deal, for an undisclosed sum, generates a "sizeable" amount of cash to invest into... Continue reading at The Bookseller
[ The Bookseller | 2011-10-03 00:00:00 UTC ]
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