Vice files for bankruptcy protection amid cut-price sale to consortium

Digital publisher and owner of Vice News and Vice TV was once valued at $6bn but has agreed sale for $225mVice, the once high-flying media startup that reached a peak valuation of nearly $6bn (£5bn), has filed for bankruptcy protection in the US as the digital publisher engineers a cut-price sale to a group of lenders.The company, whose assets include Vice News, Motherboard, Refinery29 and Vice TV, has agreed a sale to a consortium that includes Fortress Investment Group, Soros Fund Management and Monroe Capital for $225m in the form of a credit bid for its assets as well as assuming Vice’s “significant liabilities”. Continue reading... Continue reading at 'The Guardian'

[ The Guardian | 2023-05-15 09:23:50 UTC ]
News tagged with: #vice news #vice tv #bankruptcy protection #$6bn 5bn #digital publisher

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Ellora’s Cave Cuts Staff, Blames Big Amazon Sales Drop

In a letter to her authors, Ellora’s Cave CEO Patty Marks blames the cuts on unexplained declines in ebook sales through Amazon. Continue reading at Publishers Weekly

[ Publishers Weekly | 2014-08-22 00:00:00 UTC ]
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Company magazine to go digital-only amid falling sales

Hearst says October edition will be final print issue, adding that it was too soon to say whether jobs would be affectedCompany magazine, the monthly Hearst UK glossy aimed at younger women, will cease print publication after 36 years in September and go online-only.Hearst announced on Wednesday... Continue reading at The Guardian

[ The Guardian | 2014-08-13 00:00:00 UTC ]
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Russian Book Sales Plummet in Ukraine, Imports to Be Cut

Sales of Russian books in the Ukraine have plummeted in 2014 and the Ukrainian government is looking at passing legislation to curtail imports further. Continue reading at Publishing Perspectives

[ Publishing Perspectives | 2014-08-11 00:00:00 UTC ]
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Hachette ebook sales fall in wake of dispute with Amazon over pricing

Hachette finance chief plays down effect of Amazon tactics as parent Lagardère reports 1% overall dip in salesThe Hachette publishing group has reported a fall in ebook sales as it continues its battle with Amazon over pricing.The publisher of Ian Rankin and Booker prize nominee Joshua Ferris... Continue reading at The Guardian

[ The Guardian | 2014-08-01 00:00:00 UTC ]
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Pearson Cutting 4,000 Jobs as First-Half Sales Decline

Pearson Plc (PSON), the publisher of the Financial Times, said today it will have cut a total of about 4,000 jobs in the two years through 2014 and reported a sales decline of 6.5 percent for the first half. The cuts are equivalent to about 10 perc ... Continue reading at Editor & Publisher

[ Editor & Publisher | 2014-07-25 00:00:00 UTC ]
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Judge Says Price-Fixing Suit Filed by Retailers Can Proceed

Australian upstart DNAML says it was was harmed by the 2010 price-fixing scheme executed by Apple and the five agency publishers. Continue reading at Publishers Weekly

[ Publishers Weekly | 2014-06-09 00:00:00 UTC ]
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Hachette lays off 3% of staff amid book prices row with Amazon

US publisher will cut staff as 'cost-saving initiative' while row with Amazon continues to hamper ability to sell booksHachette, the multinational book publisher embroiled in a public spat with Amazon, announced that it will be laying off about 3% of its staff on Thursday."Today, we had to make... Continue reading at The Guardian

[ The Guardian | 2014-06-06 00:00:00 UTC ]
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Can a Fixed Book Price Law Stem Poland’s Sales Slump?

Amid a general book market decline, the Polish Chamber of Books (PIK) has drafted a bill which is set to introduce fixed prices for new book releases for 18 months after publication. Continue reading at Publishing Perspectives

[ Publishing Perspectives | 2013-12-18 00:00:00 UTC ]
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Amazon offers physical bookstores a cut of Kindle ebook sales, and just enough rope

Just as Kobo has cozied up to physical booksellers, so too does Amazon have a plan to smother them in e-ink kisses. Under the company's new "Amazon Source" program, any independent bookstore that sells a Kindle tablet or e-reader will be rewarded with ten percent of future book purchases made on ... Continue reading at Engadget

[ Engadget | 2013-11-06 00:00:00 UTC ]
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Amazon to Let Independent Bookstores Sell Kindles and Gives Them a Cut of E-Book Sales

Amazon, which has been blamed in part for the decline of independent bookstores, said it has a new program called Amazon Source to allow them and other retailers to resell Kindle devices and accessories, and also give them 10 percent on every ebook bought on them for two years. "With Amazon... Continue reading at AllThingsD

[ AllThingsD | 2013-11-06 00:00:00 UTC ]
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Nook Simple Touch with Glowlight gets UK price cut, drops below £50

Bookworms in the UK tired of smuggling flashlights to bed might want to take another look at the Nook Simple Touch with Glowlight. After all, you can get one for £49 now that Barnes & Noble has slashed £20 off its retail price -- that's far, far lower than the amount people had to pay at... Continue reading at Engadget

[ Engadget | 2013-09-25 00:00:00 UTC ]
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New Kindle Fire tablets; B&N continues Nook price cut

Amazon has announced the US release of three new Kindle Fire Tablets. Meanwhile Barnes &... Continue reading at The Bookseller

[ The Bookseller | 2013-09-25 00:00:00 UTC ]
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Tesco launches cut-price Hudl

Tesco has confirmed its widely anticipated tablet launch, bringing out "Hudl", a 7-inch... Continue reading at The Bookseller

[ The Bookseller | 2013-09-23 00:00:00 UTC ]
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Scholastic Cuts Loss Despite Sales Drop

Gains in its educational technology group were not enough to offset declines in the children’s book publishing and distribution unit resulting in a 5.8% decline in total sales at Scholastic for the first quarter ended August 31. Continue reading at Publishers Weekly

[ Publishers Weekly | 2013-09-19 00:00:00 UTC ]
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Sales Rise at HMH, Loss Cut

With sale up in both its education and trade groups, total revenue at Houghton Mifflin Harcourt rose 5% in the second quarter ended June 30, 2013 compared to the second quarter of 2012. Continue reading at Publishers Weekly

[ Publishers Weekly | 2013-08-15 00:00:00 UTC ]
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Polish Publishers Face Sales Slump, Propose Fixed-Pricing, Fight Piracy

Challenged by shrinking sales and online piracy, Poland’s publishing industry aims to mitigate losses with more stringent price regulation, reports Jaroslaw Adamowski. Continue reading at Publishing Perspectives

[ Publishing Perspectives | 2013-07-31 00:00:00 UTC ]
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Could Limited-Time Fixed Book Pricing Boost Backlist Sales?

Could limiting the period for fixed book prices give a needed boost to backlist sales by allowing retailers to discount after the initial buying frenzy is over? Continue reading at Publishing Perspectives

[ Publishing Perspectives | 2013-07-31 00:00:00 UTC ]
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