As usual, the British press is all over the map with their reports. The Times warns that “the entire Woolworths empire, including its stake in 2Entertain, the BBC joint venture, is likely to be in administration by the end of the week.” They add that “the BBC is trying to cut its initial 100 million […]
UK
Today's Debt Report: Redstone, Bertram's, and EUK
The WSJ continues to stay on top of Sumner Redstone’s efforts to restructure his debt and suggests that there may not be a clear answer (or end to speculation over CBS stock) this year: “Negotiations to restructure its debt are moving slowly and a deal looks increasingly unlikely this year, say people familiar with the […]
People: Jackson Moves Agencies; Elek to AP Watt
Eleanor Jackson has left the Queen Literary Agency, and is now working at the Elaine Markson Agency. Jon Elek is moving to AP Watt as an agent in January. For the past two and a half years Jon has been an assistant editor at Viking, working with Tony Lacey, in addition to developing his own […]
UK Author Prevails, But Sour World May Finish Misery Lit
A British jury found in favor of author Constance Briscoe and her publisher Hodder & Stoughton in the odd case in which her mother Carmen Briscoe-Mitchell claimed the book UGLY was “a piece of fiction.” Briscoe said, “I can quite understand why my family went into collective denial but whilst child abuse may be committed […]
Woolworth's Halts Trading
In the UK, trading in Woolworths’ shares was suspended this morning at the company’s request, as they are on the verge of bankruptcy and deep in negotiations for a rescue. They said in a statement that they are in talks to sell the BBC Woolworths’ 40 percent share of their 2entertain joint venture, which produces […]
Woolworths on the Edge
In the UK, Woolworth’s–which has been headed for bankruptcy over the past two months–is now perched right on the edge. “Unless a deal is agreed in the next few days the entire Woolworths group looks poised to collapse into administration – putting 30,000 jobs at risk,” the Sunday Times writes. They add, “City sources say […]