“The single hardest thing to do in business is to make a deal, whether you’re buying or selling.” Former SouthComm, Inc. COO Blair Johnson knew the magnitude of the task before him when, in November 2017, the company’s equity backer Solidus ousted CEO Chris Ferrell and indicated its desire to exit the publishing business within eight months. “At that time, Solidus had decided they wanted to liquidate their position and get out of SouthComm,” Johnson tells Folio:. “[Managing partner] Vic Gatto and the board made a decision that we needed to do it, and do it quickly, and that Chris was probably not the right person to do it. He likes to buy and build, and it’s a different strategy when you have to liquidate.” And so Solidus handed the company reins to Johnson—who took over as CEO—and CFO Bob Mahoney, and the pair immediately began the process of selling off a company that comprised alt-weeklies serving five different cities, a robust b2b media business, and hundreds of employees, among other assets. In a b2b-media space characterized by frequent mergers and acquisitions, the circumstances may have felt a bit like déjà vu all over again for Johnson, who had arrived at SouthComm from Cygnus Business Media in 2015 after four years helping transition that company from bankruptcy to breakup. “We essentially had eight different entities that we had to find a new home for,” Johnson continues. “Clearly, the biggest of these was the b2b assets from legacy Cygnus.” The relative... Continue reading at 'Folio Magazine'
[ Folio Magazine | 2018-08-03 00:00:00 UTC ]
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Written By: Katie Allen Publication Date: Tue, 19/07/2011 - 15:43 The Society of Authors has said it would be a "great shame" if the BBC goes ahead with its planned cuts to short story coverage on BBC Radio 4 and pleaded with the broadcaster to reconsider. read more Continue reading at The Bookseller
[ The Bookseller | 2011-07-19 00:00:00 UTC ]
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Written By: Graeme Neill Publication Date: Fri, 15/07/2011 - 10:29 A new collection of stories from the late Nobel Prize-winning author Aleksandr Solzhenitsyn; a début by a former Macmillan, Penguin and Hachette marketer; and Richard Fords new novel were among the rights deals signed this... Continue reading at The Bookseller
[ The Bookseller | 2011-07-15 00:00:00 UTC ]
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The launch of a $140 dedicated eBooks reader puts Google's store more directly in opposition to the Nook and Amazon's Kindle. The iRiver Story goes on sale July 17 at Target. Continue reading at PC World
[ PC World | 2011-07-12 00:00:00 UTC ]
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Written By: Graeme Neill Publication Date: Wed, 29/06/2011 - 09:16 HarperCollins has printed its one millionth copy of titles from George R R Martin's A Song of Ice and Fire series this year, as it announced it has sold 50,000 ebooks of the series to date. A Dance with Dragons, the fifth... Continue reading at The Bookseller
[ The Bookseller | 2011-06-29 00:00:00 UTC ]
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Written By: Caroline Horn Publication Date: Fri, 17/06/2011 - 07:59 The Seven Stories centre for children's books in Newcastle is to benefit from a £750,000 endowment donated by the Enid Blyton Trust for Children, following a decision to close the Enid Blyton Trust and donate its funds to one... Continue reading at The Bookseller
[ The Bookseller | 2011-06-17 00:00:00 UTC ]
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Written By: Benedicte Page Publication Date: Tue, 24/05/2011 - 08:25 Sam Harrison at Aurum has bought a biography of Cold War spy George Blake by journalist Roger Hermiston. Harrison acquired UK and Commonwealth rights for a "significant" five figure sum from Andrew Gordon at David Higham... Continue reading at The Bookseller
[ The Bookseller | 2011-05-24 00:00:00 UTC ]
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Written By: Charlotte Williams Publication Date: Mon, 11/04/2011 - 15:45 Sphere believes it has a smashing winner with the acquisition of the autobiography of Rafael Nadal, the Spanish tennis ace and current world number one. Non-fiction publishing director Adam Strange bought UK and... Continue reading at The Bookseller
[ The Bookseller | 2011-04-11 00:00:00 UTC ]
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Zite, the app that gathers content according to a users interests and behaviors to form a personalized web magazine, has run into legal issues abound from major publishers such as Washington Post, Associated Press, Getty Images, Time and Dow Jones. Continue reading at Folio Magazine
[ Folio Magazine | 2011-04-01 00:00:00 UTC ]
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As the April 4 launch of Moving Media+ draws nearer, Bonnier Publishing is perfecting the tablet experience for industry personnel and audiences through comprehensive research that Continue reading at Folio Magazine
[ Folio Magazine | 2011-03-30 00:00:00 UTC ]
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Publication Date: Fri, 18/03/2011 - 10:17 Independent children's publisher Inside Pocket has signed a five-figure four-book deal with Roald Dahl Funny Prize-winner Ursula Jones. Director of Inside Pocket, Sarah Harrop, acquired world rights, including audio and ebook, to the titles from Celia... Continue reading at The Bookseller
[ The Bookseller | 2011-03-18 00:00:00 UTC ]
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Written By: Graeme Neill Publication Date: Mon, 21/02/2011 - 08:40 Man Booker winner Hilary Mantel and Susan Hill are among the writers longlisted for the £30,000 Sunday Times EFG Private Bank Short Story Award 2011. read more Continue reading at The Bookseller
[ The Bookseller | 2011-02-21 00:00:00 UTC ]
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Written By: Charlotte Williams Publication Date: Fri, 18/02/2011 - 08:18 Virago is publishing a new collection of 13 early short stories by Daphne du Maurier, including five discovered by a Cornish bookseller and du Maurier enthusiast. read more Continue reading at The Bookseller
[ The Bookseller | 2011-02-18 00:00:00 UTC ]
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