Publishing/Writing: Insights, News, Intrigue

01/06/2011

Borders’s Woes Could Help Barnes & Noble


This post gives an insight into the book publishing/selling financial, deal-making world of SURVIVAL.

Boarders’s booksellers is squarely on the slippery slope named “last Chance”!

Borders, unlike Barnes & Noble, have not aggressively pursued the digital, ebook market and as a result are not positioned to quickly pull credit based on future market share growth in the ebook world.

Check out the wheeling and dealing Boarders has been involved with to avoid bankruptcy and to better position themselves in the event bankruptcy becomes inevitable in this Reuters article by By Tom Hals and Jennifer Saba:

Borders meetings with publishers could seal fate

* Borders planning more meetings next week-source

* Most publishers have stopped shipping books-source

Bookseller Borders Group Inc (BGP.N) is floating the idea of treating the money it owes publishers as a loan, a way for the company to rework its finances, a publishing source said.

Borders, the second-largest U.S. bookstore chain, which last week said it was delaying payments to some vendors, began meetings with publishing houses on Tuesday and has planned more meetings for next week, said the source.

Borders, whose sales have plummeted in the past three years, warned investors last month that it could face a cash shortfall early this year.

“The idea is that what they owe is considered a loan that they would pay back with interest,” said the source, who requested anonymity because the business relationship with Borders is confidential.

A Borders spokeswoman, Mary Davis, declined to discuss the details of those meetings and said on Wednesday that the company is not experiencing a liquidity crisis.

The meetings could determine the bookseller’s fate, with publishers playing a role usually reserved for lenders or bondholders of distressed companies.

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12/14/2010

Reuters Positioning to Compete with AP & CNN


With newspapers and other news media scrambling to find ways to cut costs and streamline to improve their bottom line (due to falling advertising, print sales and subscriptions) Reuters has created an alternative for aggregating, selling and distributing news.

The operational process being employed by Thomson Reuters will create more journalism jobs, utilizes more sources and really is quite exciting!

The vetting of news stories could be an issue, but I’m sure that will become a non-issue with this company’s expertise.

Jennifer Saba, a correspondent and blogger for Reuters reports these details:

Thomson Reuters starts service for U.S. news media

Thomson Reuters Corp has launched a news service for U.S. publishers and broadcasters in a bid to win business from the Associated Press and CNN.

The new service, Reuters America, provides text stories, photos and video by Reuters journalists for newspapers, television stations and online publishers. Newspaper publisher and broadcaster Tribune Co is its first customer.

As part of the service, Reuters America also will offer sports and entertainment news from six partners: the Wrap, SportsDirect Inc, the Sports Xchange, US Presswire, SB Nation and Examiner.com

The service comes as newspapers and TV stations try to recover from the worst financial recession in recent memory.

Tribune Co, which owns the Chicago Tribune, the Los Angeles Times and TV stations in New Orleans, San Diego and Denver, has signed a multi-year deal. Terms were not disclosed.

Reuters is hiring journalists and using outside journalists, or “stringers,” to provide general news stories in addition to its business and financial news. It also will write stories commissioned by its news clients.

“This is being designed and being run in a way that is not one size fits all,” said Chris Ahearn, Thomson Reuters’ president of media. “It gives (publishers) comfort and flexibility that there are other choices than… some of the legacy providers.”

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Another great take on this story Selling the News: Reuters, the AP and Tribune by Robert MacMillan, also of Reuters.

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