Mediabistro will sell its editorial and e-commerce assets to a subsidiary of Prometheus Global Media, which also owns Adweek, The Hollywood Reporter and Billboard, for $8 million in cash. That’s significantly less than the $23 million Jupitermedia paid to acquire Mediabistro in 2007 — but the parent company’s stock total market is about $6.3 million, even after a 13 percent gain today. As Crain’s notes, the parent company reported a loss of $5.7 million in 2013, on sales of $12.5 million. Prometheus is acquiring Mediabistro’s editorial properties, job board and education business. CEO Alan Meckler will retain the trade show business and related […]
Archives for May 2014
ABA’s Teicher Says “The Book Industry Is Being Held Hostage” By Amazon; Celebrates Indies’ Gains
ABA ceo Oren Teicher addressed the organization at their annual membership meeting on Thursday afternoon in an enthusiastic vein: “I could not be more pleased to be able to reiterate – the indie bookstore resurgence has continued.” At the same time, he noted how “the aggressive discounting and strong-arm tactics of the dominant online retailer continue to cause havoc. Its recent bullying assault of a major publisher is just the latest example of a unilateral and shortsighted strategy. To put it plainly: the book industry is being held hostage by a company far more interested in selling flat screen TV’s, […]
Apple’s Request For a Stay of Damages Trial Is Denied
The Appeals Court panel of Judges Barrington D. Parker, Debra Ann Livingston, and Christopher F. Droney came to a quick decision after the hearing their chambers Thursday morning. Apple’s “motion for a stay pending appeal is denied because Appellant has failed to meet the requisite standard.” So the damages trial, currently scheduled for July 14 but potentially subject to at least minor postponement, will go forward.
Appeals Court Shows Sympathy for Both Sides In Hearing on Apple’s Stay
The 2nd Circuit Court of Appeals heard arguments Thursday morning on Apple’s motion to stay Judge Cote’s injunction — and in turn, delay the start of the damages trial, currently set for July 14. While the three judges did not issue any ruling from the bench, the immediate sense from their questioning was that one jurist will be in favor of granting the stay, another will vote to deny, and the third seemed undecided, at least outwardly. Apple’s lawyer urged the appeals court to grant the stay as the case is a “classic rule 23 review,” while also noting it’s […]
Perseus Joins with Scribd
Following last week’s announcement that Simon & Schuster is making their backlist available to Scribd subscribers, at BEA Scribd announced an agreement with the Perseus Books Group as well. Perseus is providing “thousands of their amazing books to our readers,” and is the next largest publisher to participate after HarperCollins and S&S. Some people have been confused about the business terms Scribd presents to large publishers, even though we covered it last October when HarperCollins first explained their deal. As S&S reported to agents recently, authors “will receive their standard ebook royalty rate each time one of their books is read.” [After […]
Forthcoming: Jeter’s First List, O’Reilly’s Next Killing
Derek Jeter’s Jeter Publishing co-publishing partnership with Gallery and Simon & Schuster Children’s Publishing announced their first three titles Thursday at BEA. Two of those books are by or about…Derek Jeter: a middle grade novel, THE CONTRACT, written with Paul Mantell, for publication September 23, “based on Jeter’s own childhood experience.” And later in the fall they will publish a “chronicle of Jeter’s last season with the New York Yankees, told mostly through the pictures of photographer Chris Anderson.” Jeter says in the announcement, “My goal in creating Jeter Publishing is to work with inspiring people from all walks of […]