It is expected that Penguin Random House will complete the acquisition of Simon & Schuster in the second quarter; HarperCollins completed the purchase of Houghton Mifflin Harcourt’s commercial division on June 30. Illustration: Finance images. Houghton Mifflin Harcourt Books & Media posted $42.7 million in revenue for the first quarter, up 12% year-over-year. Currently, Houghton Mifflin Harcourt has closed its New York office pending the completion of the sale. For its part, HarperCollins posted a 45% increase in profits in the first quarter, with revenue up 19% from the first three months of 2020. Revenue came in at $490 million, while EBITDA hit $80 million. Susan Panuccio, chief financial officer of News Corp (parent company of HarperCollins), said the increase in sales was driven by the general commercial and children’s books industry in the US and UK. Panuccio revealed that printed books accounted for 62% of sales in the quarter. In terms of format, sales of e-books increased by 38% and audiobooks increased by 42%. In a short financial update, Bertelsmann (the parent company of Penguin Random House) said that Penguin Random House was one of several divisions of the company that posted double-digit growth in the first quarter compared to the same period of 2020. Simon & Schuster is currently decommissioned, pending acquisition completion. Simon & Schuster’s parent company, Viacom CBS, had $185 million in revenue, up 8.8% from the first quarter of 2020. Jonathan Karp – CEO of Viacom CBS – reported that the biggest increase came from the international division. publisher economy, where revenue increased 21%. In which, sales of audio books increased sharply (17%). Some outstanding books in 2020. Photo: Nytimes. Hachette Book Group is one of the 5 largest trade publishers in the US. In the first quarter, Hachette’s revenue grew 9.1% year-on-year. Michael Pietsch, Hachette CEO, said the increase was driven by sales of hardcover books. Hachette’s distribution business, he noted, has seen double-digit growth. Hachette’s total revenue reached 509 million euros (about 619 million dollars). In addition to the increase in book sales in the US, Hachette’s sales also increased in France and the UK, offsetting declines in the Spanish and Latin American markets. Hachette’s digital books performed well in the first quarter, but e-books only accounted for 9% of total sales. The share of audiobook sales fell to 4.6% from 5.9% in the first three months of 2020. Despite the growth compared to 2020, US publishing units are cautious about developments in the coming time. As more professions reopen, consumers have more options besides reading.

Facebook icon. (Photo: AFP/VNA) According to Vietnam News Agency correspondent in Sydney, Facebook technology group has paid 20 million AUD (about 16 million USD). Sales tax in Australia in 2020. Figures from the Australian Securities and Investments Commission show that in the 2020 financial year, Facebook has weathered the worst effects of the COVID-19 pandemic; Accordingly, the total advertising revenue of this group in Australia is AUD 712.7 million (about USD 570 million), higher than the figure of AUD 674 million in 2019. However, Facebook paid A$559 million to an overseas subsidiary for “ad resale,” causing net income 2020 is only 155.3 million AUD, lower than 167.1 million AUD in 2019. Accordingly, the company’s pre-tax profit was AUD 37.9 million. With this profit, the company paid 20 million AUD, compared with 16.7 million in 2019. A Facebook spokesperson said that in the last financial year, the company has pay income tax in Australia at more than 30% under local tax laws. While the two “tech giants” Facebook and Google both recorded growth in 2020 in Australia, many local media companies had to cut costs and in some cases had to cut jobs due to advertising revenue. reported a drop of up to 30%. Facebook is currently actively negotiating with several Australian media outlets about paying for their news content to appear on Facebook’s Newsfeed feature. So far, Facebook has officially signed a contract with two major media agencies, Seven West Media and News Corp, and according to some sources, Facebook will sign an official agreement with Nine Entertainment Co within the next 2 weeks. . Facebook is also negotiating with Guardian Australia and national broadcaster ABC.

Facebook logo at headquarters in Menlo Park, California, USA. Photo: AFP/VNA According to the Vietnam News Agency correspondent in Sydney, data from the Australian Securities and Investments Commission shows that in the 2020 financial year, Facebook has overcome the worst effects of the recession caused by the COVID-19 pandemic and made a profit. Total advertising revenue in “Kangaroo country” was AUD 712.7 million (equivalent to USD 570 million), up from AUD 674 million in 2019. However, Facebook paid $559 million to an overseas subsidiary for ad inventory-related content, bringing the company’s net revenue to just $155.3 million. As a result, Facebook’s pre-tax profit was AUD 37.9 million, and with this profit, the company paid AUD 20 million (USD 16 million) in taxes, compared with AUD 16.7 million in 2019. A Facebook spokesperson said that in the last financial year, the company paid income tax in Australia at rates above 30% under local tax law. While tech giants Facebook and Google both recorded growth in 2020 in Australia, many local media outlets have had to cut costs and in some cases cut jobs due to business reasons. Advertising revenue dropped by 30%. Facebook is currently actively negotiating with several Australian media companies about paying for their news content to appear on the social network’s Newsfeed feature. So far, Facebook has officially signed contracts with two major media agencies, Seven West Media and News Corp, and according to some sources, will sign a formal agreement with Nine Entertainment Co within the next two weeks. Meanwhile, negotiations with Guardian Australia and national broadcaster ABC are still ongoing.

By acquiring Houghton Mifflin Harcourt, HarperCollins will be better able to compete in the publishing industry. Photo: Richard Drew / Associated Press. Robert Thomson – CEO of News Corp – said welcome: “We welcome the talented team of Houghton Mifflin Harcourt to HarperCollins, especially at a time when so many people in many places are reading and listening to books. “. “We look forward to new and exciting opportunities as we chart a stronger future together,” said Brian Murray, President and CEO of HarperCollins. He thinks that merging two publishing companies, each with a long list of literary works, will be the focus of team cohesion. Houghton Mifflin Harcourt owns a list of more than 7,000 titles and has many important works in the lifestyle and children’s segments. Many famous books by Houghton Mifflin Harcourt help to generate high profits such as: Curious George, The Polar Express, Little Blue Truck and The Little Prince … HarperCollins will acquire the English rights to JRR Tolkien’s novels and films, including Hobbit guy and The Lord of the Rings . Illustration by JRR Tolkien in the upcoming edition of The Lord of the Rings. Photo: The Tolkien Estate/Harper Collins. Houghton Mifflin Harcourt’s audiobook business is also thriving, which is expected to boost HarperCollins’ audiobook sales. Before that, the sheet New York Times commented that by acquiring Houghton Mifflin, HarperCollins will be better able to compete as the publishing industry is being dominated by “big players”. In recent years, the book business has witnessed the consolidation of a number of large publishing units. In 2020, ViacomCBS agreed to sell Simon & Schuster to Penguin Random House for more than $2 billion. The deal attracted the attention of antitrust regulators and raised concerns among booksellers, authors and agents. The deal of these two book giants is not yet completed. HarperCollins is the second largest publisher of consumer books in the world. In the first quarter of the year, HarperCollins saw revenue growth of 19% year over year. Headquartered in New York, HarperCollins has publishing operations in 17 countries. This unit has more than 120 publishing brands around the world. Each year, this unit publishes about 10,000 books, print and digital catalogs more than 200,000 works.

News Corp Australia’s Executive Chairman Michael Miller just confirmed that the deals are complete. (Source: voz.vn) News Corp has confirmed it has formalized agreements with two technology giants Google and Facebook to pay for the use of news content of the corporation. This early year, major media companies Australia, including News Corp, Nine Entertainment Co and Seven West Media, reached non-binding agreements on the use of news content with Google and Facebook, after the Australian Parliament passed new legislation to compel the Big tech companies have to enter into negotiations with media companies on the issue. The money News Corp receives from Google and Facebook is not made public. News Corp Australia’s Executive Chairman Michael Miller just confirmed that the deals are complete. The move to Google services started last week with the News Showcase app and will continue over the next three months, Miller said. The transition to news publishing on News’s app Facebook will be underway next June. Earlier on May 7, Mr. Miller announced plans to recruit 100 more editors for local and regional news sites, mainly focusing on audio and video news and sports news. local news. The recruitment plan above reflects the strong recovery of News Corps Australia compared to nearly a year ago, when the group had to close more than 100 publications due to financial difficulties caused by the COVID-19 pandemic. . Last week on May 4, Australian Community Communications Group confirmed that it had signed an intent to cooperate letter with Facebook. The group had previously signed an agreement with Google to provide the content of more than 40 of its newspapers for the News Showcase service before. On May 3, media group Seven West Media also announced a 5-year agreement with Google and a 3-year agreement with Facebook. In February, the second largest media group in Australia Nine Entertainment signed an agreement with Google. According to information leaked on local media, the US technology giant will pay more than 30 million AUD (24 million USD) / year over the next 5 years to use news content published in Nine newspapers. Entertainment. The Guardian newspaper published in Australia has also reached a similar agreement with Google./.