Thursday, January 15, 1998

The Power of Content Management For Publishers

January, 1998

If there was one message repeated most often at the Seybold conference in San Francisco in September 1997, it was that publishers must fundamentally change their editorial and production processes to separate content from format in order to best take advantage of all publishing mediums. Today's book and magazine publishers traditionally produce printed product, but they do not separate the content of what they produce from the format in which it appears. Hence, they do not derive the benefit of a catalogue of content which can easily be manipulated and produced in another format. In order to take advantage of all that the on-line publishing environment has to offer, this change in philosophy is of paramount importance.
The Philosophy

The new environment which electronic and on-line publishing has created demands that publishers change their focus from a production orientation to a customer service focus. At a recent industry conference, James Lichtenburg, past vice president of the Higher Education Division of the Association of American Publishers (AAP) commented: "Why force the purchase of a single commodity, instead of providing a range of value-laden services which is required by an increasingly diverse customer?" Currently, publishers see themselves as creators of fixed and static products produced via formula on specific dates for broadly defined markets. This 'formulaic' approach to publishing will not cut it in the on-line world. More aggressive, creative companies have already realized this, such as My Yahoo, Motley Fool and others who are allowing more flexibility and added value for their users.

Traditional publishers have so far been conservative in their approach to on-line publishing. Assembly of material has become a cost bottleneck within companies as two staffs have developed to support the print product and the on-line/electronic versions. As Walter Purvis of Banta commented, "There is a mismatch between the demands of the Web and current print production workflows -- print department workflows need to be integrated with the rest of the business but enabling software doesn't allow it." According to Purvis, "What exists is a hodgepodge of cobbled together systems for content management and repurposing."

The requirements for new systems and a new process approach to how material is produced is paramount if traditional publishers expect to take advantage of on-line publishing.
"Picking Strawberries" - A Costly Problem

Where are publishers in defining the extent of their problems (or opportunities)? One of the speakers at Seybold referred to publishing content as 'stranded assets' residing on individual hard drives, in file drawers, on film, in libraries, etc. These 'assets' have been estimated to understate the value of some companies by as much as 15% (Joe Casabianca, Media Management Association). At Nestle, Inc., an internal content management study found 1,500 images (slides) of a strawberry, an ever-increasing number of photos which had been commissioned at various worldwide offices to create marketing material for their cereal. Banta cites the example of a catalogue publisher whose staff would spend 30-40 minutes to find individual selections in their paper-based catalogue (for price changes, corrections, etc.). With the creation of a new content management database, these searches now take seconds.
Lost Intellectual Capital

If you look at the material produced for a book or magazine, it is clear that the final outcome is but a minute portion of the total work produced for that product. The final book represents the top of a 'pyramid of information' and is the only real identifiable representation of the effort that went into the production of this product. Clearly, there was significant other work not catalogued which was completed during this project but which is now essentially 'lost'. Workers may have good intentions of using this unused material, but generally the cost of finding it at the appropriate time outweighs the costs of recreating it. Additionally, e-mails, meeting notes, marketing plans, budgets and forecasts, etc. - the record of the creation of the product -- are either gone or are dispersed across the enterprise and of little collective use to anyone. Artists' proofs, manuscripts and edits, photos, etc., all become 'stranded assets.' The intellectual capital lost in these instances is unmeasured -- until someone has to find something or reproduce it.
The Task

Publishers, in general, have made little progress in changing the way they produce their products. In order to take true advantage of their content, publishers will be required to develop an asset cataloguing system and a project management approach to managing publishing projects. At the 1997 Frankfurt Book Fair, the Association of American Publishers (AAP) announced an initiative to attach a 'license plate' to publishing property. This Digital Object Identifier (DOI) will identify the publisher of the property (owner), catalogue products at whatever level the publisher determines and allow for transactions of the material with payments and royalties accounted for appropriately.

The AAP will recommend how this cataloguing process should work so that all publishers use the same 'meta data' terminology and methodology. Meta data constitutes the information about the product such as the owner, royalty terms, author, artist, etc., - a list which is defined by the publisher. What is assumed in the above is that a book or title will have only one DOI number attributed to that material -- in fact, each book may have hundreds of DOI numbers associated with it. Currently, every book created by a publisher carries an ISBN (International Standard Book Number) and this is used by booksellers, publishers and others to identify the book. The DOI will allow material within that book to be identified down to the paragraph, sentence or word level. Currently, when a college professor requests permission to copy a chapter from a textbook, this becomes a nightmare for those that have to account for the transaction.

It is not always clear which of the often multiple contributors to the book wrote the chapter in question. Often, royalty rates per author differ depending on how the material was purchased, and generally the accounting for this exercise must be done manually (and often more than once). The DOI will automate this process. Publishers must think differently as to what constitutes a unit or product, moving beyond thinking of files and documents (finished books and magazines), which should be viewed as simply containers of information.

Of course, DOI and the establishment of meta data based cataloguing systems only help going forward. A big question surrounds legacy data -- how you economically use this content in a digital workflow. Digitizing legacy data is a huge expense consideration. Moreover, it is widely viewed that you will only ever need five percent of this data … unfortunately, you just don't know which five percent. Publishers are advised to consider carefully their approach to digitizing legacy data.
Reevaluation and Change

Established, traditional publishers need to augment their publishing product with service based products, unique customer driven products, database management and the ability to transact business. Product differentiation and the ability to leverage content through avenues not previously considered will be 'enabled' via new processes, making the development of new products across media and within the same media much easier. Many consumer products companies have proven that the key to brand growth is product differentiation, yet, to date, publishers have only had limited success in this area. This new content production process will have three components:

  • Single point of entry:
    A single point of access to, retrieval of, and contribution to the content database, best achieved via an Intranet solution. All material relevant to a 'project' would reside in a database including the content and work related material such as e-mails, contracts, drafts, budgets, royalty and rights information.

  • Uniform data entry:
    Data needs to be structured or catalogued in a format which is easily understood and largely automatic. While cataloguing data at the source will be the most effective 'capture' method, it will be difficult to convince some groups to do this (especially authors). As far as possible, meta data should be associated with content automatically at the source. This methodology must also be universal (i.e., DOI) so that commerce is not impeded by confusing and conflicting catalogue methods.

  • 'Extrapolation':
    The ability to build new products and services from the use of the content, thereby also refreshing the content. Publishers, as masters of their content, can significantly increase the value of their brand names and profit margins by facilitating product differentiation in multiple formats.

A significant by-product of this approach will also be the strengthening of publishers' brand names and images. By separating content from format, new material generated by an author or other source then resides catalogued in a database, ready to be re-purposed into a book, CD-ROM, on-line version, magazine, or produced to a printer. These changes require new project management and workflow management tools, an archiving methodology (new and legacy data), and the installation of wide area networking - Intranet solutions to allow universal access.

At the Seybold conference, Bill Gates of Microsoft stated that "not only is the cost of [technology] ownership going down, but the value [owners] are getting out of these systems is constantly rising." Publishing is a prime example of this in that the movement to a content management philosophy is the next step in the Desk Top Publishing (DTP) revolution which brought publishing companies from razor blades and mark-up pens to electronic workflows. Gates fully recognizes the competitive advantage to be gained by developing databases of digital content and says that "companies that move information around electronically will be more competitive than companies that do not." He believes that those traditional publishers who do not move in this direction now will not be around to discuss it later.

There needs to be a systematic approach to developing new processes within these companies to take advantage of new media opportunities. In the future, successful publishers will be those which view themselves as content developers and managers rather than (only) book or magazine publishers. Only with a production approach which separates the content from the format and which is supported by processes to enable the adaptation of that content into various formats as required by customers, will traditional publishers be able to take advantage of all future opportunities.

A speaker at the Seybold conference commented that "publishing currently fails to predictably satisfy customers and achieve businesses' objectives" because mass publishing is very hit or miss. Harry McQuillen, when at Macmillan Publishing Company, used to say (tongue-in-cheek) before every budget meeting that "you can never plan for bestsellers." Perhaps in the future, by building products to satisfy individual needs rather than producing products for the masses, publishing will grow more predictable. This, in turn, however, will only come from an ability to manipulate content libraries for specific purposes.

Sunday, December 28, 1997

12/28/97: Barnes Noble, Pearson, Readers Digest, Scholastic

Summary:
Sun Media Corporation IPO
Readers Digest Annual Meeting: No Family Affair
For the Kids, Scholastic Says 'So Long, SOHO'
Board Changes at Pearson plc
Starwood to sell ITT directories unit for $2.1 billion
Town & Country
Knight-Ridder, NYT Report Online Losses
Barnes & Noble, AOL Make Deal

RECENT NEWS

Sun Media Corporation IPO
TORONTO, Dec. 3 /CNW-PRN/ - Sun Media Corporation announced that it has filed a prospectus with the securities regulatory authorities in each of the provinces of Canada for a combined initial public offering and secondary offering of approximately 23 million common shares in such provinces at a price of $13.50 per share. Sun Media is the second largest daily newspaper publishing group in Canada in terms of circulation and currently publishes five daily newspapers in major urban centers in Canada (The Toronto Sun, The Edmonton Sun, The Calgary Sun, The Ottawa Sun and The London Free Press) and The Financial Post, which is 80% owned by Sun Media. Sun Media's Community Newspaper Group also publishes five daily community newspapers, 80 weekly community newspapers and shopping guides in Canada and in Florida and 17 farming and other specialty publications. SOURCE Sun Media Corporation

Readers Digest Annual Meeting: No Family Affair
Reader's Digest held its annual shareholders meeting last week and, unlike many of the 75-year old company's publications, it was far from family fare. Angry shareholders complained about flagging share prices, fiscal irresponsibility and ineffective leadership, according to Reuters. Among the complaints: the company reportedly borrowed $100 million this year to pay out a 90 cent dividend. Under questioning, the company reportedly admitted that it actually had not earned its dividend for the past three years. Meanwhile chairman and CEO George Grune urged dissenters to be patient. As part of a promised turn-around, he reportedly said the company was re-evaluating its business alliances with Meredith Corp., PBS, Sears, Roebuck and Co., Spiegel Inc. and Avon Products Inc.

The company also was lambasted for its aging board. For example, one shareholder reportedly singled out board member Melvin Laird who, at 75, was the U.S. Secretary of State under former President Richard M. Nixon. The company paid Laird $400,000 for consulting services last year. Mediacentral: 12/16

For the Kids, Scholastic Says 'So Long, SOHO' (Folio: First Day)
Scholastic Corp. certainly is serious about this core-business-focus stuff that corporations are always prattling about in their life-imitates-Dilbert manner. To hear Scholastic executive VP Hugh Roome tell it, the $1-billion children's publisher will unburden itself of several profitable operations when it completes the sale of its SOHO Group [small office/home office] to privately held CurtCo Freedom Group in the next four weeks. The plum properties in the deal, announced last Thursday and valued at $20 million, are Home Office Computing -- launched 15 years ago by Scholastic as Family Computing -- and HOC offshoot Small Business Computing.

Roome, hired by New York-based Scholastic seven years ago to re-launch Family Computing as HOC, says that both HOC and SBC are profitable; so, he said, is Scholastic's six-year-old SOHO Custom Publishing unit. Its projects have included Small Business, produced for Microsoft, and Small Business Handbook, of which it sold 100,000 copies to AT&T. The unit also puts out four newsletters with total circulation of 2 million. Other properties acquired by CurtCo include HOC Online (www.smalloffice.com), which Roome said has sold out its banner-ad space 18 months running. Roome said the SOHO Group's 50-odd employees will move to Curt Co's expanding offices on West 56th Street in Manhattan and that he doesn't believe any of those personnel will be cut. In its announcement of the acquisition, the privately held CurtCo, based in Malibu, CA, pointed to the "synergy" Scholastic's SOHO Group has with such CurtCo magazines -- it publishes 21 along with 27 daily newspapers -- as Portable Computing Direct Shopper, Mobile Computing & Communications and Sales & Field Force Automation.

HOC's paid circulation rose by 2.4% to 461,353, thanks to a 20,000-plus increase in subscriptions to 441,000 in the first six months of 1997 compared with the first half of '96, according to the Audit Bureau of Circulation’s. Single-copy sales averaged 20,361, a 32% decline. Ad pages through November totaled 903, a 1.5% improvement over 890 in the first 11 months of '96; ad dollars rose 15.8% to $22.4 million from $19.4 million, according to Publishers Information Bureau. Small Business Computing, launched in January 1996, has controlled circulation of 140,000. CurtCo president and CEO William J. Curtis didn't return calls from First Day, but Roome said CurtCo "has intentions to expand the magazines' circulation’s in many dimensions and build other spin-off properties."

Sources familiar with the transaction's history said bidders for Scholastic's SOHO Group at one time or another have included Inc. magazine and Cowles Business Media. Roome acknowledges that it received unsolicited bids for the SOHO Group four years ago; at that time, those same sources said, the SOHO Group could have fetched a much higher price. New York investment banking firms DeSilva & Phillips Inc. and Veronis, Suhler & Associates Inc. represented CurtCo and Scholastic, respectively, in the transaction. (Neil Cassidy) Source: Mediacentral 12/15

Board Changes at Pearson plc
David Veit and Pehr Gyllenhammar are to step down from the board of directors of Pearson plc. David Veit, 59, an executive director and president of Pearson Inc, will retire at the company’s annual general meeting next May. He has been a Pearson director since 1981 and the senior Pearson executive in the United States for more than twenty years. Pehr Gyllenhammar, 62, who has been a non-executive director since 1983, will retire from the board at the end of December 1997. Source: Pearson plc 17th December 1997

Starwood to sell ITT directories unit for $2.1 billion
NEW YORK, Dec 18 (Reuters) - Starwood Lodging Trust, the victor in one of the year's biggest takeover fights, began on Thursday to break apart its prize. The real estate and hotel investment trust announced plans to sell ITT Corp.'s highly-profitable telephone directories business for $2.1 billion to Dutch publisher NV Verenigd Bezit VNU (OTC BB:VNUNY - news; VNUN.AS). The sale, which is contingent upon the completion of the proposed $10.2 billion ITT-Starwood transaction, came sooner than expected and is the first of several non-core assets expected to be sold by Starwood. Phoenix-based Starwood said it would use proceeds of the sale to reduce debt associated with the acquisition of ITT.
VNU, one of the world's largest information companies, is the dominant publisher of consumer magazines in the Netherlands and Belgium. It said the directories business had sales of about $545 million last year and earnings before interest, taxes and depreciation of about $178 million. ``This fits very well with our present portfolio. Half of (ITT World Directories) is aimed at the consumer, but the other half is aimed at the business to business segment,'' VNU Chief Financial Officer Frans Cremers said in Amsterdam. The Dutch firm was one of several companies that had expressed interest to ITT earlier this year when it was selling assets to defend itself against Hilton's hostile bid. ITT later abandoned that plan and sealed a transaction with Starwood. Although the unit has strong profit margins, it is a slow-growth business and was not considered to be a core asset for either ITT or Starwood.
VNU also publishes newspapers in the Netherlands and is active in business information in the United States and Europe. Cremers said in an interview that the ITT directories business was about evenly split between consumer and professional markets, like VNU itself. ``We are committed to both sectors. We want to grow in three areas: marketing information, trade journals and consumer information,'' he said. Cremers said VNU also had been attracted to ITT World Directories because the company.

For Those Last Minute Gifts… Town & Country's Top Ten Gift Ideas for the Holiday Season
Addressing different aspects of life such as beauty, kitchen and home, clothing and charity, Editor-in-Chief Pamela Fiori suggests imaginative gifts in a variety of price ranges. With that in mind, her favorite beauty picks include: --Estee Lauder Re-Nutriv Intensive Lifting Cream ($150) --Annick Goutal Eau d'Hadrian in a Baccarat bottle ($550) --Bliss Spa Gift Basket ($50-$200); call 888/243-8825 Kitchen and Home. Among Fiori's suggestions for the domestic sphere are: --Fresh caviar from Caviarteria --Aluminum cultivator from Smith & Hawken ($7) --Magafesa Rapid II 8 quart pressure cooker ($109) --Hurrell's Hollywood Portraits (Abrams, $39.95). Classic clothing and accessories, can have added panache when special attention is paid to choosing unique fabrics or decorations. to bring an imaginative touch to these standards try: --Anything cashmere --Costume Brooches, Art Deco Jewels ($65). With respect to charity; "Giving to a charity of a favorite cause unites friends and family in the true holiday spirit -- thinking of others," states Fiori. She suggests: --A donation to the African Wildlife Foundation (202-939-3333) or the Nature Conservancy (800-628-6860) in a friend's name.

ON-LINE NEWS:

Knight-Ridder, NYT Report Online Losses
Both Knight-Ridder and The New York Times reported tens of millions of dollars in losses for their New Media ventures for 1997 at the Paine Webber Media Conference here in New York. Yet both companies emphasized their optimism that revenues will increase next year, with possible profitability by 2000. Knight-Ridder will spend about $27 million this year on its 32 web sites but will take in only $11 million in revenue, according to chairman P. Anthony Ridder. Outlays for next year probably will be the same if not higher, but revenue also is expected to grow. Meanwhile the Internet is a valuable investment, said Ridder, pointing to his San Jose Mercury News, which has a daily circulation of 287,000 while drawing 1.2 million readers a month to its Web site. Knight-Ridder also is talking with the Tribune Co. and Washington Post about developing their online real estate and auto classified businesses. Knight-Ridder may part in the real estate portion, but Ridder said his company is not interested in becoming the third, full partner in the effort. Ridder said that he was "disappointed" with this year's debut of the New Century Network -- nine major newspapers sharing a common Web site aimed at luring national advertisers online -- and is looking at ways improve the site. Meanwhile, The Times expects a $12 million to $15 million loss for 1997 and an $8 million to $11 million loss next year, when it will launch its New York Today local content Web site and broaden its Boston Globe (http://www.boston.com) site. Despite its red ink, The Times' Web site (http://www.nytimes.com) has nearly 3 million registered users and is growing at the rate of about 200,000 users per month. Source: Mediacentral 12/12/1997

Barnes & Noble, AOL Make Deal
Barnes & Noble on Tuesday said it is paying America Online $40 million to be the exclusive seller of books on the nation's largest online service, shutting out Amazon.com and other major sellers of books on the Internet. Amazon.com, based in Seattle, is not currently promoting its books across America Online's network. But the Barnes & Noble Inc. deal locks up AOL for the next four years and expands where the bookseller can show ads, including the service's financial, travel and entertainment sites, and with its international subscribers.
The deal is the latest this year with America Online Inc., which has staked its future profits on revenues from advertisers. In exchange for helping to promote their products, the Dulles, Va.-based company is receiving more than $225 million from companies including CUC International Inc., a buying club, and Tel-Save Holdings Inc., a seller of long-distance telephone service.
By clicking on the Barnes & Noble icon, AOL's 10 million subscribers can link up to the company's Internet site and order books. "Effectively it gives us great positioning, locks out the competition, and gives us the next four years" of exclusive advertising, Barnes & Noble vice chairman Steve Riggio said. An Amazon.com did not immediately return a phone call seeking comment. America Online declined to comment. Amazon.com continues to sell books over AOL's World Wide Web site. December 16, 1997 By THE ASSOCIATED PRESS

Wednesday, December 10, 1997

12/10/97: Reader's Digest, Reed Elsevier, Kluwer, Thomson

Summary
Shareholder Unrest Brewing At Reader's Digest
Dow Jones Teams Up With NBC: Companies Hope to Stem Losses Abroad With TV-Internet Partnership
Wolters Plans Acquisition Of Thomson Publications
Penguin Putnam Inc. Announces Publishing Partnership With DreamWorks SKG
Thomson Financial Publishing to Expand Electronic Commerce Initiatives
Harcourt General Announces Results For Fourth Quarter And Full Year
Reed Elsevier: Update on Trading and on Progress on Proposed Merger with Wolters Kluwer:
National Geographic Chief Quits: John Fahey Moves Up in Society as Reg Murphy Suddenly Moves Out
Wolters Kluwer Reed Elsevier
New York Times Says It Plans Acquisition In 1999

RECENT NEWS

Shareholder Unrest Brewing At Reader's Digest
(Book Publishing Report) A minority shareholder is going forward with its bid to place two candidates on the Reader's Digest board of directors, despite the fact that the company has politely refused its request. Making matters worse for Reader's Digest-which will hold what could be a fractious annual meeting this Friday (12th)-is the fact that shareholder Corporate Value Partners has chosen to conduct its efforts publicly. The shareholder discord is just the latest problem to beset Reader's Digest, which has been struggling to reverse an alarming drop in its financial performance caused by a steadily eroding customer base (BPR, Aug. 18). BPR has learned that Barbara Morgan, senior vice president and editor in chief of the company's Books and Home Entertainment Products division, is leaving the company. The division's operating income sank 37.5% to $201.1 million on revenues that fell 11.9% to $1.85 billion in fiscal 1997, ended June 30. Morgan is the latest in a series of executive departures that began with chief executive officer James Schadt's forced resignation in August. Since then, CFO Stephen Wilson, senior VP of strategic planning Glenda Burkhart, senior VP and general counsel Paul Soden and RD Europe president Martin Pearson have also left.

Dow Jones Teams Up With NBC: Companies Hope to Stem Losses Abroad With TV-Internet Partnership
After a year of talks, media giants Dow Jones & Co. and General Electric Co.'s NBC division announced today that they will form a global television and Internet partnership cementing the brands internationally and tempering losses both companies are experiencing in their overseas operations. The merger will consolidate the two companies' business-news channels in Europe and Asia -- cutting costs and expanding each side's distribution -- while also adding Dow Jones news, and perhaps interviews with its Wall Street Journal reporters, to CNBC's programming in the United States. Dow Jones lost $48 million in its television ventures last year, while NBC 's subsidiary CNBC lost $15 million in Asia. NBC will pay a licensing fee to Dow Jones but did not disclose how much. CNBC will now be known both domestically and internationally as "a service of NBC and Dow Jones. For Dow Jones, the alliance comes at a time when Kann is under intense pressure from the company's board to curtail money-losing operations. Revenue from this deal, as well as the cash from several recent deals to license the well-known market barometer Dow Jones industrial average as a vehicle for the trading of futures and options contracts, will enhance the company's bottom line. But Kann's larger problem, analysts said, is Dow Jones Markets, the real-time news and data service formerly known as Telerate, which is losing market share to competing services run by Reuters Holdings PLC and Bloomberg Financial Markets. Kann announced a controversial plan in January to spend $650 million to revive the ailing unit, which drew the ire of shareholders and certain members of the Bancroft family, which controls 70 percent of the voting shares of Dow Jones stock and has four of the 15 seats on the company's board of directors. After pressure from outsiders and a fresh look at the plan by Dow Jones's board, the company changed course and announced it was "exploring options" regarding Dow Jones Markets, including the sale of the unit. "It has got to be sold," said Michael Price, the influential money manager who holds 4.1 million shares of Dow Jones stock and has been pushing the company since January to sell the flagging unit. Still, one of the things Kann has been criticized for is not doing enough to leverage the Dow Jones franchise as a premiere provider of financial news. Today's deal will help give the company a worldwide television platform to showcase its stories. CNBC will have worldwide television rights to Dow Jones stories and plans to set up studios at the Wall Street Journal's headquarters in the World Financial Center in downtown Manhattan. For NBC , the move strengthens its CNBC subsidiary, which is accessible in 65 million households and is projecting a $100 million profit this year. On the Internet, the Web site run by MSNBC -- an existing NBC -Microsoft Corp. joint venture -- will provide highlights from the Wall Street Journal, flagged under the CNBC/Dow Jones logo. As part of today's deal, Dow Jones acquired a third of MSNBC Business Video, which delivers video clips from corporate speeches and conferences to clients' computers. Both NBC and Dow Jones acknowledged that fourth-quarter earnings may be pinched by restructuring costs related to today's announcement. December 10, 1997 Copyright (c) 1997 The Washington Post Received via NewsEDGE

Wolters Plans Acquisition Of Thomson Publications
AMSTERDAM -- Dutch publisher Wolters Kluwer NV said it agreed to acquire scientific and medical publisher Thomson Science from Thomson Corp. of Canada. Wolters Kluwer didn't provide financial details of the planned transaction. However, the company said it expects the deal to be completed around the end of the year. Wolters said a significant number of Thomson Science's medical publications fit well with those of Wolters' U.S. medical publisher Lippincott-Raven, while its general scientific publications complement those of Wolters Kluwer Academic Publishing. Wolters said the acquisition won't include the German medical and scientific publications of Thomson Science. Wolters Kluwer's core activities include the legal, medical, educational, and other scientific and professional fields. Its principal operations are in the U.S. and eight European countries including Spain, Italy, Germany and France. Copyright (c) 1997 Dow Jones and Company, Inc.

Penguin Putnam Inc. Announces Publishing Partnership With DreamWorks SKG
NEW YORK, Dec. 9 Penguin Putnam Inc. has signed a multi- year strategic license agreement with DreamWorks Consumer Products, it was announced today by Douglas Whiteman, Executive Vice President of Penguin Putnam. The deal grants Penguin Putnam publishing rights for at least the first five animated feature films for DreamWorks Pictures, as well as the option to propose publishing programs for other DreamWorks properties, including live action motion pictures, animated and live action TV programs and direct-to-video films. Penguin Putnam's rights encompass most book formats with a suggested retail price of $4.00 and above. Penguin Putnam is currently working on more than two dozen titles in support of the 1997-1998 motion pictures set for release from DreamWorks Pictures. The first four books shipped in early November and are based on the film Amistad, directed by Steven Spielberg. Penguin Putnam is also developing a range of titles and formats for Small Soldiers (Summer 1998). Directed by Joe Dante (Gremlins, Innerspace) and with special effects from Stan Winston Studio and Industrial Light & Magic (The Lost World: Jurassic Park), the film tells the story of a small town that is overtaken by artificially intelligent toys. Grosset & Dunlap plans six titles, including a movie storybook and a top secret dossier, all capturing the innovative look of the film. In support of DreamWorks' first animated film The Prince of Egypt (Holiday 1998), Penguin Putnam is developing titles in at least a dozen formats, with age-appropriate content for both adults and children, and honoring the ground-breaking animation style of the film. SOURCE Penguin Putnam Inc via Businesswire

Thomson Financial Publishing to Expand Electronic Commerce Initiatives
Thomson Financial Services announced today the acquisition of The EDI Group, Ltd. by its Thomson Financial Publishing unit. Terms of the agreement were not disclosed. The EDI Group is a professional services organization specializing in providing the highest quality research, publication and education services to companies participating in the EDI and Electronic Commerce marketplace. The EDI Group also offers public and private courses in EDI, EC and financial EDI/EFT. In addition, The EDI Group publishes quarterly a professional journal; EDI FORUM: The Journal of Electronic Commerce. Source Businesswire

Harcourt General Announces Results For Fourth Quarter And Full Year
Harcourt General, Inc. (NYSE:H) today reported that its Harcourt Brace publishing businesses achieved strong year-over-year gains in the fourth quarter of fiscal 1997, resulting in a record full-year performance by the Company before non-recurring charges and amortization associated with the acquisition of National Education Corporation (NEC). For the full year, Harcourt General reported that revenues rose 12.2 percent to $3.69 billion from $3.29 billion in 1996. Before NEC-related amortization of goodwill and acquired intangibles and non-recurring charges, operating earnings for the year were $375.7 million, a 9.0 percent increase from $344.7 million in 1996. After $104.1 million in NEC-related amortization of goodwill and acquired intangible assets and $277.2 million in non-recurring charges, the Company had an operating loss in 1997 of $5.7 million. The Company reported a net loss of $115.1 million, or $1.64 per share, for the full year, compared to net income of $190.9 million, or $2.62 per share in 1996. Revenues in the Harcourt Brace publishing operations increased 12.8 percent in the fourth quarter to $398.0 million, while operating earnings were up 22.3 percent to $97.0 million. For the full year, Harcourt Brace publishing revenues increased 14.5 percent to $1.25 billion, with operating earnings before non-recurring charges rising 13.3 percent to $223.1 million.

Reed Elsevier: Update on Trading and on Progress on Proposed Merger with Wolters Kluwer: Reed Elsevier today issues a brief status report on the progress of the proposed merger of Reed Elsevier with Wolters Kluwer and, in line with the practice introduced last year, an update on recent trading and some other material issues. Proposed Merger with Wolters Kluwer: "On 13 October 1997, the Boards of Reed International P.L.C., Elsevier NV and Wolters Kluwer NV announced that they had agreed in principle to propose to their respective shareholders a merger of their businesses. Progress continues to be made in developing the detailed merger proposals. The major steps implemented so far have included relevant employee consultation processes in the Netherlands, as well as the filing of necessary information with the competition authorities in various jurisdictions. "It is expected that, subject to receiving certain regulatory clearances, a circular to the shareholders of Reed, Elsevier and Wolters Kluwer, setting out details of the proposed merger will be issued on 27 March 1998 together with the respective 1997 annual reports. IPC Magazines: "On 27 October 1997, Reed Elsevier announced the possible divestment of IPC Magazines, its UK consumer magazines business. Review of the available options is continuing and if it is decided to pursue such a divestment, it is intended that any transaction would be concluded early in 1998. Update on Reed Elsevier’s Trading: "In September we completed the $447 million acquisition of the Chilton Business Group, a major US business to business publisher. Also, in October, we agreed a merger between Utell, our hotel reservation and representation business, and the US company, Anasazi Inc., which is the leading supplier of technology solutions to the hotel and hospitality market. "Reed Elsevier’s 1997 preliminary results will contain a number of exceptional items, the most significant of which will be substantial provisions in respect of the Reed Travel Group. Since the announcement, on 26 September 1997, of irregularities in circulation claims made by the Reed Travel Group, considerable progress has been made in determining the extent of the misstatements and in developing recompense plans for advertisers in the affected publications. Revised sales and marketing practices have already been introduced and circulation claims are now being rigorously controlled. "It is not possible at this stage in the process to quantify either the full financial effect of the recompense plans or the impact on the future profitability of the Reed Travel Group and the related value of its intangible assets. The exceptional charges will be in relation to the recompense plans, together with a non-cash write-down of intangible asset values. Source: Reed Elsevier

National Geographic Chief Quits: John Fahey Moves Up in Society as Reg Murphy Suddenly Moves Out
The National Geographic Society's chief executive resigned yesterday, only 18 months after taking the top job at the venerable Washington educational and publishing organization. Reg Murphy said he had been planning the move all along and dismissed any suggestions of dissension in his departure. He had been the society's No. 2 executive since 1993. During his tenure, Murphy, 63, a former newspaper publisher, aggressively cut costs and steered the nonprofit society toward profit-making ventures, such as producing dramatic TV movies and starting a chain of National Geographic stores. He also launched new foreign-language editions of the society's famed yellow-bordered magazine in one of the biggest expansion pushes in the publication's 109-year history. The strategic changes made Murphy a controversial figure within the society, a genteel, tradition-bound outfit that has long projected a semi-academic air. Murphy's successor, appointed by the society's board yesterday, is John Fahey, who joined National Geographic just 20 months ago from Time-Life, the direct-marketing arm of Time Warner . Fahey, 45, was recruited by Murphy from Time-Life in Alexandria to run National Geographic Ventures, the for-profit subsidiary Murphy started in 1995. The management changes represent a swift transition at an institution not known for moving quickly. They underscore the ascendancy of executives who've come from outside the organization and have a keener eye on the bottom line. Fahey takes over at a time when the society is in relatively strong shape. Circulation of its flagship magazine, which lost readers throughout much of the 1980s, has stabilized at about 9 million subscribers, who receive the magazine by becoming dues-paying "members" of the society. Its major growth area is its television operations. National Geographic Television produces documentaries and nature programs appearing on NBC and the TBS and Disney Channel cable networks. It has also moved into making dramatic movies for theatrical and broadcast distribution. Its first dramatic offering, "Forbidden Territory: Stanley's Search for Livingstone," was broadcast on ABC Sunday. Copyright (c) 1997 The Washington Post Received via NewsEDGE

Wolters Kluwer Reed Elsevier
The European Union Commission Friday opened a detailed four-month inquiry into the planned merger of Anglo-Dutch publisher Reed Elsevier (N.ELS, U.REE) and Dutch publisher Wolters Kluwer NV (N.WOK), an E.U. source said. Via Newsedge

New York Times Says It Plans Acquisition In 1999
The New York Times Co. said Thursday that it was ``counting on an acquisition to provide considerable future growth'' sometime in 1999. The company also predicted increases in revenues and operating profits, and its stock rose to a 52-week high. ``The next step in our external development plan is to bring an investment banker on board'' to examine potential properties, the company's president and chief executive, Russell T. Lewis, said at a New York conference of investors, sponsored by Paine Webber. But Lewis added that he did not ``anticipate any significant developments in this area until 1999.'' The Times also disclosed that it planned a new section of technology news called Circuits in February and that it would publish seven to nine special one-time sections in 1998. In addition, the company made its earnings predictions, reporting that operating profit for the newspaper group, its largest division, was expected to rise 35 percent from last year to between $430 million and $440 million. The Times also said that earnings before interest, taxes, depreciation and amortization were expected to rise 30 percent, to between $590 million and $600 million. The Times Co., which had revenues of $2.6 billion in 1996, publishes The Boston Globe and 21 regional newspapers in addition to The New York Times, as well as three magazines. The company also operates television and radio stations
Copyright (c) 1997 The New York Times Co. Received via NewsEDGE from Desktop Data, Inc.

Friday, December 05, 1997

12/5/97: Dialog, Tribune, Thomson, Reuters, Reed Elsevier

Summary:
Dialog To Offer Free Services To Investors
Tribune-Review Publishing Company Acquires North Hills News Record And Valley News Dispatch
Advance Publications Inc Newspaper Purchase
United News Considers Selling Regional Papers
Thomson Financial Services' Asian Publishing Business Acquires Philip Jay Publishing
Newspapers Expecting 'Strongest Year In A Decade'
L.A. Daily News Goes To Denver Post
Reuters Reorg Big Payday For Shareholders
Simon & Schuster To Feature New Authors On Authorlink.Com
Ziff-Davis
Reed Elsevier

RECENT NEWS:

DIALOG TO OFFER FREE SERVICES TO INVESTORS
DIALOG CORPORATION, the online information company, is to offer some of its services free to armchair investors through a deal with Institutional Investor International (III), the Website operator. The venture, which was planned before MAID and Knight-Ridder Information merged to become Dialog, will give III's 100,000 Internet users free access to headlines and summaries from 4,000 news sources. The limited service, which will include share prices, will be freely available through III's Internet site, http://www.iii.co.uk. Full articles will be available for a £1 charge, with the proceeds split between the two companies. From February, the Website will offer real-time prices from London, New York and Nasdaq, fuelling a free sector which analysts say could challenge the lower end of the market held by the likes of Bloomberg and Reuters. The enlarged Website should be complete within two weeks, when it will become the first service in the world to combine information about pensions, life insurance and stock market prices. Dialog, which draws its customers almost exclusively from large institutions, hopes the move will give it access to small-time investors who may not be willing to pay the basic £6,000 annual subscription for its full service. MAID's new subscriptions tailed off while it was discussing the merger, leading to a third-quarter pre-tax loss of £592,000 (£2.42 million loss), it said yesterday. Sales were £7.37 million (£5.18 million). The loss for the quarter was 0.33p (2.62p loss) per share. NEW YORK, Dec. 1 /PRNewswire/ -- BY SUSAN EMMETT AND FRASER NELSON

TRIBUNE-REVIEW PUBLISHING COMPANY ACQUIRES NORTH HILLS NEWS RECORD AND VALLEY NEWS DISPATCH
PITTSBURGH, Dec. 1 /PRNewswire/ -- On the heels of the opening of its $43 million NewsWorks production center in Marshall Township last month, the Tribune-Review Publishing Company has announced an agreement to acquire two newspaper properties from Gannett Publishing Co., Inc. The North Hills News Record and the Valley News Dispatch, both of which publish evening and Sunday newspapers, join the growing list of newspapers owned by the Tribune-Review Publishing Company. (Three former Thomson newspapers joined the Company in May of this year.) Effective immediately, the newspapers will become subsidiaries of the Company, and Larry Jock, formerly publisher of the Valley News Dispatch, will serve as general manager of both publications. The purchase includes a long-term agreement under which the regional editions of USA Today and Baseball Weekly will be printed at the Company's NewsWorks production center. The Tribune-Review Publishing Company publishes the Tribune-Review, Pittsburgh Tribune-Review, Standard Observer, The Daily Courier., The Valley Independent, Leader Times, and The Dispatch (Blairsville). Source: Tribune-Review Publishing Company

ADVANCE PUBLICATIONS INC NEWSPAPER PURCHASE.
Advance Publications Inc. plans to acquire 23 weekly Ohio newspapers from Sun Newspapers for an undisclosed amount, reported the Associated Press. The deal is to close in January. Advance's newspapers include the Star-Ledger in Newark, NJ. The company also publishes consumer magazines including the New Yorker and Vogue, 36 weekly business journals and owns book publisher Random House.

UNITED NEWS CONSIDERS SELLING REGIONAL PAPERS ----
LONDON -- United News & Media PLC may sell its U.K. regional newspapers, fetching an estimated (STG)400 million ($674 million) or more. United News confirmed that prospective buyers have approached it, but said it may also retain the newspapers, which include the Yorkshire Post. "The board confirms that it has received a number of approaches from third parties indicating their interests in acquiring these businesses," United News said. "The board is considering a range of alternatives, including the further development of its regional newspaper businesses." WJEviaNewsEDGE Copyright (c) 1997 Dow Jones and Company, Inc.

THOMSON FINANCIAL SERVICES' ASIAN PUBLISHING BUSINESS ACQUIRES PHILIP JAY PUBLISHING BUSINESS
(BUSINESS WIRE)--Dec. 3, 1997-- Thomson Financial Services today announced the acquisition of Philip Jay Publishing, which will be folded into its Asian Publishing business. Terms of the agreement were not disclosed. "The acquisition of Philip Jay Publishing is part of our strategy to become Asia's leading financial publisher," said Adam Bryan. "Philip's titles can capitalize on the marketing opportunities presented by our regional and international titles. It also provides us with expertise to create a new range of print-based products to serve our growing customer base in Asia's financial sector. Philip has been very successful in developing a strong client list among the local finance houses, thus providing a good complement to our current customer base in the international financial sector." Reporting into Adam Bryan, newly appointed managing director of Thomson's Asian Publishing business based in Hong Kong, the Philip Jay acquisition provides strong growth opportunities and expanded market reach for the Asian publishing group. Run by local Hong Kong entrepreneur, Philip Jay, the company has been successfully publishing directories on the Asian financial sector for more than seven years. Its core products include The Asia Pacific Securities Handbook, The Greater China Banking Directory, The China Securities Handbook and The Asia Pacific Fixed Income and Debt Securities Directory. Thomson's Asian Publishing operations include such prestigious titles as IFR and IFR Asia, Finance Asia and Thomson Bankwatch. Its offices are located in Tokyo, Hong Kong, Singapore and Malaysia.

NEWSPAPERS EXPECTING 'STRONGEST YEAR IN A DECADE'
Total newspaper ad revenues rose 8.9%, to $29.31 billion, for the first three quarters of 1997 compared to the same period last year, according to an announcement made Tuesday by the Newspaper Association of America. By sector, national ad spending was said to be up for the nine months by 13.48%, to $3.956 billion; retail was up 6.25%, to $13.673 billion; while classified was up 10.72%, to $11.681 billion. "Third quarter growth (7.84%) was slower, as expected, due to the stronger growth in the second half of last year," acknowledged Miles Grove, the NAA's chief economist. "However, when coupled with a longer Christmas season for '97 we can expect the strongest year in a decade," he added. Last year 21.88% of all advertising dollars were spent on newspapers, compared to television's 20.7% share of the market. Mediacentral – Cowles Business Media

L.A. DAILY NEWS GOES TO DENVER POST
The Los Angeles Daily News has been acquired by MediaNews Group, the parent company of the Denver Post. The purchase price was not disclosed. The newspaper had been put up for sale in October by the family of its former owner, the late Jack Kent Cooke, who died in April. The acquisition makes MediaNews the eighth-largest newspaper publisher with 35 dailies and 106 nondailies. The Daily News, which has a circulation of 203,000 weekdays and 218,000 on Sundays, is MediaNews' 12th Californian daily. Observers expected the sale to fetch as much as $200 million to $250 million. At the time the prospective sale was announced, potential buyers were thought to be MediaNews, Rupert Murdoch's News Corp., Orange County Register-parent Freedom Communications and Toronto-based publisher Thomson Corp.

REUTERS REORG BIG PAYDAY FOR SHAREHOLDERS
Reuters announced on Thursday its plans to reorganize the company and return US$2.52 billion in surplus capital to shareholders. In addition the company said it would return up to another $336.2 million in an ongoing stock buyback plan through 1998. The reorg will result in the creation of a new holding company, Reuters Group PLC, which will acquire the existing Reuters Holdings PLC. Separately, in an interview with a Reuters reporter, company CEO Peter Job dismissed industry speculation that he might make an offer for the ailing Dow Jones Markets information services group. "First of all, there is probably a considerable anti-trust problem that would arise ... Secondly ... there is a great overlap in the two businesses," he reportedly said. The shareholder windfall was said to reflect the company's continued success.

ONLINE PUBLISHING NEWS:

FOR ALL YOU BUDDING AUTHORS…..SIMON & SCHUSTER TO FEATURE NEW AUTHORS ON AUTHORLINK.COM
NEW YORK, Dec. 2 /PRNewswire/ -- Simon & Schuster Online has become a key sponsor of Authorlink! (http://www.authorlink.com), the online information service for writers, editors and literary agents. One of the first major book publishers to partner with an online writers' service, Simon & Schuster will create a special section on the Authorlink's site to showcase new book releases, especially those by first-time authors. Authorlink! kicked off the program's first phase in November, with a live link to Simon & Schuster's Consumer Publishing website (http://www.SimonSays.com). Authorlink! is also featuring the newly released, revised edition of JOY OF COOKING through the holidays, to be followed by the special new author section. The 18-month-old Authorlink! has a loyal annual readership of more than 60,000 writers, editors and agents. In addition to featuring major publishing industry news, the site showcases and markets ready-to-publish manuscripts to the publishing industry. The service is currently sponsoring its first International New Author Awards Competition, in which nine New York editors and agents are finalist judges. Simon & Schuster Online, was formed in January 1996, to create a strategy for Simon & Schuster's consumer books and authors on the web. Simon & Schuster Online launched SimonSays.com, (http://www.SimonSays.com), in June 1996. The site, which provides an unparalleled level of reader interaction, is home to Simon & Schuster's Consumer 11,000+ titles and has successfully launched fan areas for many authors and brands including Star Trek Books, Mary Higgins Clark, Clive Cussler, Frank McCourt and most recently Joy of Cooking. SOURCE Simon & Schuster

PEOPLE IN THE NEWS:

Ziff-Davis today announced the promotion of Michael J. Miller to Executive Vice President and Editorial Director of ZD Publishing. Miller, who has been named one of the top computer journalists by Marketing Computers for three years in a row, will also retain his position as the Editor-in-Chief of PC Magazine. At the same time, Ziff-Davis announced the promotion of Kathleen Goodwin to Vice President of Marketing for ZD Publishing, and the expansion of the responsibilities of Tom McGrade, Executive Vice President, Business Operations, to include ZD Publishing's circulation and production departments. Michael Miller Claude Sheer, the President of ZD Publishing, said, "Michael is not only a leader among his peers within Ziff-Davis, he is also a well-respected journalist and industry advocate. PC Magazine has grown to a paid circulation of more than 1,175,000, more than any other computer publication or business magazine. SOURCE Ziff Davis

REED ELSEVIER
Reed Elsevier Inc. named Hans Gieskes president and chief executive of Lexis-Nexis. Reed Elsevier is jointly-owned by Reed International PLC (RUK) and Elsevier NV (ENL). In a press release Monday, Reed said Gieskes has been with the parent company for 19 years, most recently serving as vice chairman of the legal division. Gieskes will continues to lead Lexis Nexis' operations in Europe. DOW JONES NEWS

Friday, November 28, 1997

11/28/97: Thomson, Barns&Noble

Summary:
Thomson Purchases Idd Print Publishing Assets
Comments From Online Bookselling Forum
Matthew Benber Is For Sale
Harold Evans Will Join Mort Zuckerman At Daily News
Barnes And Noble & Amazon.Com

RECENT NEWS:

THOMSON PURCHASES IDD PRINT PUBLISHING ASSETS:
NEW YORK--(BUSINESS WIRE)--Nov. 19, 1997 Thomson Financial Services announced today that it has acquired the print publishing assets of IDD Enterprises, L.P. (IDD), which will be folded into its Securities Data Publishing (SDP) unit. Terms of the agreement were not disclosed. The purchase includes the flagship publication Investment Dealers' Digest, the premier magazine which has covered Wall Street, financial techniques, and organizational strategies for professional financiers for more than 60 years; Mergers & Acquisitions Journal; nine newsletters: Private Equity Week; Private Placement Letter; Mergers & Acquisitions Report; Bank Loan Report; Going Public: The IPO Reporter; Eliot Sharp's Financing News; Web Finance; Asset-Backed Securities Week; and Mortgage-Backed Securities Letter; and two directories: Mutual Fund Directory and Corporate Syndicate Personnel. "The acquisition of this venerable product family complements our existing publishing portfolio and fills out our coverage of the capital markets. This acquisition also provides SDP with significant leverage for expansion in the institutional asset management and equity and debt underwriting markets," stated SDP President and CEO, Bruce Morris.

Part of The Thomson Corporation (TTC), a $7.7-billion company based in Toronto, Thomson Financial Services employs more than 5,500 people in nearly 40 offices around the world. The principal activity of TTC is specialized information and publishing worldwide. In addition, TTC has important interests in newspaper publishing in North America and in leisure travel in the United Kingdom. The Corporation had sales of US$7.7 billion in 1996 and has some 50,000 staff members.

COMMENTS FROM ONLINE BOOKSELLING FORUM (Mediacentral-Cowles Business Media)
Internet bookstores are helping to deliver purchase information to the marketplace, and could soon be wreaking havoc on the concept of foreign rights. But whether they are expanding the customer base for books or simply stealing sales away from other channels is still up in the air, according to panelists at a public forum held last week in New York. Random House president Phil Pfeffer said he sees the emergence of Internet bookselling as "expanding opportunities, not cannibalizing opportunities." Mary Engstrom, VP of publishers affairs for Amazon.com, argued that the Internet is expanding the U.S. book market by providing access to three attractive audiences: customers outside the U.S., consumers living in remote areas of the country where there is no local bookstore, and the new generation of computer-literate and book-shy adults.

Pfeffer said Internet bookstores, as well as the sites operated by publishers themselves, "have a significant influence" on book sales by providing information consumers need to make purchase decisions. At this early point, those sales "more often than not" are still being realized at traditional bricks and mortar bookstores, he said. Engstrom said; at the end of 1996, overseas sales made up 33% of total sales. Online selling and its need for speedy delivery has also expedited the migration toward drop-shipping, a concept that many bookstore owners had heretofore been disinclined to adopt (preferring instead to bring their customers back to the store to pick up orders). Panelists also agreed that Internet bookselling will cause a "major upheaval" in the rights market. "What we have come to know is going to change significantly," Pfeffer said.

The problem has already arisen in the U.K., where "U.S. books are now available next to the U.K. versions, and at lower prices," Freeman noted. And U.K. publishers who "paid a certain fee thinking they own that market" have every reason to be disturbed by the prospect, Freeman said. According to Engstrom, Amazon.com sold at least one copy of more than 80% of all in-print lists at several major publishing houses in the third quarter of 1997. One audience member called the figure "astounding." Amazon.com's commission-based "Associates Program" has 15,000 members that include a variety of small publishers but is comprised mostly of companies outside the book industry, she said.
(Mediacentral-Cowles Business Media)

MATTHEW BENBER IS FOR SALE:
Times Mirror is evaluating business options for legal publisher Matthew Bender & Co and the medical professional publisher, Mosby Inc. Alternatives under consideration include a sale, a spinoff to shareholders and/or swaps for other strategic assets.

ON THE MOVE

HAROLD EVANS WILL JOIN MORT ZUCKERMAN AT DAILY NEWS (Mediacentral – Cowles Business Media)
Harold Evans, the colorful president and publisher of Random House's trade group, will leave the publishing house to head up Mortimer Zuckerman's publications, which include The Daily News of New York, U.S. News & World Report and The Atlantic Monthly. Zuckerman, in naming Evans editorial director and vice chairman on Tuesday, said that Evans would essentially take over a large portion of his duties at the various publications. Evans will have a say in everything from hiring to story ideas to design at the magazines and at The Daily News. The appointment of Evans, a 69-year-old London native, signals that Zuckerman is stepping up efforts to take on The News's tabloid rival, The New York Post, particularly after recent declines in the circulation of The News' thick Sunday paper.

The arrival of Evans into the battle between the papers has the added intrigue of putting him head to head with an old enemy, Rupert Murdoch, who owns The Post. Evans resigned as editor of The Times of London in 1982 after resisting efforts by Murdoch, the newspaper's owner, to force his removal. "I think it tells you that Mort wants an impact player," said Mitchell Moss, the director of the New York University Urban Research Center. "He wants to put The News on the map." Evans leaves Random House, where he ran some of the publisher's most prestigious imprints, with a somewhat uneven seven-year record. While credited with significantly raising the profile of the publishing house, some publishing executives say he lacked the management and business skills required to run an imprint. Several executives said Evans lacked an increasingly essential understanding of the bottom line. Worrying about the business side, industry insiders say, simply was not Evan's strength, though he brought a passion and glamour to the position, enhanced in part by his wife, Tina Brown, the editor in chief of The New Yorker.

"It was not fully understanding the chemistry of the business, rather than not caring," said another executive who also spoke on condition of anonymity. At Random House, Evans was replaced by Ann Godoff, editor in chief of Random House Adult Trade Books and executive vice president of the Random House Trade Publishing Group which includes Random House Adult Trade Books, Villard Books and the Modern Library. Ms. Godoff, who was promoted last summer from editorial director to editor in chief -- a position Evans had previously held -- will carry out Evan's same responsibilities under a different title, president and editor in chief. Net traffic for small bookstores

AND DID YOU KNOW:

Barnes and Noble reported that purchases from the top 10 US publishers had declined to 46 percent from 74 percent three years ago. This represents a significant shift to independents, small publishers and university presses and is reflective of a broadening of consumer interest to what used to be 'fringe' subjects.

Amazon.com and BarnesandNoble.com are competing for an estimated $156MM in on line booksales for the fourth quarter.

Friday, November 21, 1997

11/21/97: Primedia, McClatchy, John Wiley, Dow Jones

Summary:
Mcclatchy Purchases Cowles Media Company
Primedia (Kiii) Acquires Publisher
Wiley And Dow Jones Form Publishing Alliance
Dow Jones To Ax 400 Workers
Don’t You Wish Your Last Name Were Murdoch?
Macromedia Purchases New Jersey Newspapers
Dow Jones Board Votes To Sell Markets Unit
Springer Chairman Plans To Step Down
Dow Jones To Acquire Rest Of IDD Enterprises L.P

NOT SO RECENT NEWS

MCCLATCHY PURCHASES COWLES MEDIA COMPANY (Inadvertently left out last week)

McClatchy Newspapers, Inc. (NYSE: MNI) and Cowles Media Company (CMC), announced today an agreement for McClatchy to acquire Cowles, publisher of the Star Tribune in the Twin Cities of Minneapolis/St. Paul, in a transaction valued at $1.4 billion, including the assumption of approximately $90 million in existing Cowles debt. The merger creates the eighth-largest newspaper company in the nation based on daily and Sunday circulation.

The Star Tribune is the leading newspaper in Minnesota with circulation of 387,000 daily and 673,000 on Sunday. It ranks as the 16th largest daily and the 12th largest Sunday newspaper in the country. The Star Tribune's daily circulation is nearly twice that of its primary competitor in the Twin Cities market, the 15th largest in the country. On Sunday, its circulation is two and one half times larger than its competitor and its penetration is the highest among two-paper markets in the United States.

In addition to the Star Tribune, Cowles operates three other business units which McClatchy expects to sell as soon as possible, using the proceeds to reduce debt. The other business units are: Cowles Business Media, Inc., a publisher of specialized business magazines and information services; Cowles Enthusiast Media, Inc., a publisher of 27 special-interest consumer magazines and related books and products; and Cowles Creative Publishing, Inc., a specialty publisher, distributor and direct marketer of books, videos and interactive media for the home arts, home improvement and outdoor markets.

McClatchy Newspapers, Inc., headquartered in Sacramento, California, currently publishes 10 daily and 13 non-daily newspapers located in western coastal states and North and South Carolina. The company reported 1996 revenues of $624 million and had daily circulation of 972,600 and Sunday circulation of 1,175,100. McClatchy's newspapers include, among others, The Sacramento Bee, The News and Observer (Raleigh, NC), The Fresno (CA) Bee, The News Tribune (Tacoma, WA) and the Anchorage Daily News. McClatchy also owns and operates other media-related businesses, including Nando.net, a national online publishing operation and The Newspaper Network, a national newspaper marketing company.
PRNewswire

RECENT NEWS

PRIMEDIA (KIII) ACQUIRES PUBLISHER
Primedia Inc., formerly K-III Communications said that its technical and trade division, Interec Publishing, has acquired Cardinal Business Media, whose magazines include Mix, which covers the professional recording industry; Electronic Musician, which covers computer-generated music production; and Recording Industry Sourcebook, a music industry directory. Also included in the deal are Cardinal's Club Industry News and its related trade shows for owners and operators of commercial health and fitness facilities. Excluding the latest acquisitions, Overland Park, KS-based Interec publishes 17 entertainment and business communications titles including Pool and Spa News, Broadcast Engineering, Millimeter, Video Systems and Telephony. Interec also puts on trade shows. In total, Interec, one of the largest trade publishers in the U.S., publishes 72 magazines, supplements, newsletters and show dailies throughout the world.
PRNewswire

WILEY AND DOW JONES FORM PUBLISHING ALLIANCE
Bonnie Lieberman, Senior Vice President and General Manager of the College Division of John Wiley & Sons, Inc. today announced an agreement with Dow Jones Interactive Publishing, a division of Dow Jones & Company, to develop the Wiley Business Extra program, featuring content from Dow Jones and The Wall Street Journal Interactive Edition, as part of Wiley's print and online college-level business textbook offerings. The Wiley Business Extra program is being created to enhance the student learning experience and offer professors a new level of support resources to strengthen the business curriculum. "We're very excited to be working with Dow Jones to further our long-standing strategic objective to help students to learn and teachers to teach. The Wiley Business Extra program does this by offering students greater insight into their studies through access to Dow Jones publications and articles, including The Wall Street Journal Interactive Edition, and by providing pedagogical tools to help them understand how to use this wealth of information," said Ms. Lieberman.

Wiley Business Extra will deliver the full-text of a selected number of Dow Jones stories, focusing on the topic, industry, or special area of interest relevant to the Wiley textbooks. Dow Jones will scan The Wall Street Journal Interactive Edition and other Dow Jones newswires for stories that match a profile established for the Wiley texts. Stories matching the profile will then be posted on the Business Extra electronic news folder hosted at Wiley's Web site, http://www.wiley.com, along with discussion questions for classroom assignments. Divided into sub-sections, the folder will contain a separate area for each text associated with the program. Wiley will publish a paperback book called The On-Line Business Survival Guide that shows students how to use The Wall Street Journal Interactive Edition, research business problems on the Web, and use the news folder. The customized guide will be available for purchase as a stand-alone or as a supplement to nine Wiley finance accounting, management, and information management textbooks.
(John Wiley)

DOW JONES TO AX 400 WORKERS
Serious Losses at Financial Info Unit As many as 400 workers will be cut from the 4,000-strong staff of Dow Jones Markets, the financial information division of Dow Jones & Co., previously known as Telerate. Reports issued today indicated that Dow Jones & Co., publisher of the Wall Street Journal, would also be announcing its first annual loss since it went public in 1963. That loss is predicted to be as high as $600 million. Dow Jones Market delivers breaking business news and financial information to investors and financial analysts through a proprietary desk terminal network. Reuters and Bloomberg provide competing services. Wall Street analysts had previously speculated that Dow Jones would sell the troubled financial information unit. Today the publishing company said it was reviewing the struggling unit's operations and studying alternative strategies. (See Below)
WSJ

DON’T YOU WISH YOUR LAST NAME WERE MURDOCH?
News America Publishing Group has announced the formation of News America Digital Publishing. The new division will consolidate the Group’s electronic publishing operations, including the TV Guide Entertainment Network (TVGEN); Fox News On-line; Fox Sports On-line; News Internet Services, an internet solutions provider; Kesmai, a multi-player games company; and the Advanced Media Group which focuses on business development and strategic planning. The announcement was made today by Anthea Disney, Chairman and Chief Executive Officer of News America Publishing Group, a division of News Corporation. James Murdoch, formerly News Corporation Vice-President for New Media, has been named President of News America Digital Publishing, reporting to Disney.
(News Corp)

MACROMEDIA PURCHASES NEW JERSEY NEWSPAPERS
Macromedia Inc., parent company of The Record, is purchasing the daily North Jersey Herald & News and 11 weekly newspapers that serve parts of five New Jersey counties. Jonathan Markey, president of the Hackensack-based Record, said Thursday that the Herald & News and the group of weeklies would continue to operate independently, although some administrative functions of the two daily papers may be combined in the future. "We plan to continue to operate the newspaper as the Herald & News, hopefully forever and certainly for as long as it works as expected and continues to provide value," Markey said.

In August, the media giant Gannett Co. announced that it would purchase the Asbury Park Press and the Home News & Tribune. All the papers being purchased by Macromedia are part of North Jersey Newspapers Co., a subsidiary of William Dean Singleton's Denver-based Media News Group. Ten other weeklies operated by North Jersey Newspapers Co. in Union and Warren counties will be kept by Media News. Markey would not disclose the price of the purchase. A newspaper industry analyst, however, estimated the price at $40 million to $50 million, although the total may be lower because the deal does not include real estate or the Herald & News' out-of-date presses.

John Morton, president of a Maryland consulting firm that analyzes media companies, said it is no surprise that Singleton was willing to part with the Herald & News. Singleton's sale of North Jersey Newspapers comes just weeks after Garden State Newspapers, another of his companies, announced that it would purchase the Press-Telegram of Long Beach, Calif., from Knight-Ridder Inc. "He's trying to `cluster' his papers, and if this is the last one in northern New Jersey, I suspect it's something he was planning to sell for some time," Morton said. Morton said that if the Herald & News were the only paper in its market, it might fetch as much as $1,400 per reader, or roughly $75 million. Because the North Jersey market is a competitive one, however, the purchase price most likely is considerably smaller.
Received via NewsEDGE from Desktop Data, Inc.: 11/21/97 03:37:2

DOW JONES BOARD VOTES TO SELL MARKETS UNIT
Dow Jones & Co.'s (DJ) board voted Thursday to put its Dow Jones Markets unit up for sale, The New York Times reported Friday, citing a person close to Dow Jones. On Wednesday, the company said Dow Jones Markets will focus on competitive strengths in content and its workstation product line, while continuing to examine all alternatives. The company also said it will cut the unit's staff by 200 to 300 by early 1998, while scaling back the investment program for Dow Jones Markets. Dow Jones added that it plans a "sizable" fourth-quarter charge, reflecting a write-down of goodwill, severance and other costs. According to the Times, the person close to Dow Jones said an analysis of Dow Jones Markets is expected to be prepared and completed in about three weeks and will then be available to prospective buyers. The Times said possible buyers include Bloomberg LP (X.BBG); Reuters Holdings PLC (RTRSY); Thomson Corp. (T.TOC); and Welsh, Carson, Anderson & Stowe, the investment company that owns Bridge News.
Received via NewsEDGE from Desktop Data, Inc.: 11/21/97 02:28:35

SPRINGER CHAIRMAN PLANS TO STEP DOWN
Axel Springer Verlag AG Chairman Juergen Richter will step down from his position at the end of the year, the company said. The German media group said that "after events of the last few weeks and publicized disparagements against (Richter), continuation of his contract cannot occur." Mr. Richter will continue performing all functions of chairman until Dec. 31, Springer said. In recent weeks, various German newspapers have speculated that Mr. Richter would be asked to step down, due to disagreements over his management style. Springer didn't say who would replace Mr. Richter, and company officials weren't immediately available to comment.

Axel Springer Verlag AG is a major German publishing and broadcasting group. Its principal operations are in newspapers, including the country's top-circulation tabloid "Bild" and daily newspaper "Die Welt." Springer also has magazine and television operations.
Copyright (c) 1997 Dow Jones and Company, Inc.

DOW JONES TO ACQUIRE REST OF IDD ENTERPRISES L.P.
Dow Jones & Co. said it plans to acquire the roughly 30% it doesn't already own of IDD Enterprises L.P. and sell parts of the financial-publishing, software and on-line services concern. Terms weren't disclosed. Dow Jones said it also plans to restructure IDD as part of a continuing program to shed noncore businesses. Under the restructuring plan, Dow Jones said it sold IDD's publishing operations, including magazines Investment Dealer's Digest and Mergers & Acquisitions Journal, to Securities Data Publishing, a unit of Thomson Corp. Dow Jones said it agreed to sell IDD's retail investment-services operations to a management group led by Leonard W. Hirschfeld, currently senior vice president with IDD. Mr. Hirschfeld will leave IDD to head the new business. The major remaining IDD asset to be kept by Dow Jones is Tradeline, a market information database used by investment banks and financial-services and information companies. In addition to IDD, Dow Jones publishes The Wall Street Journal, The Wall Street Journal Interactive Edition, Barron's magazine, electronic business information services including Dow Jones Markets and the Dow Jones Newswires, and the Ottaway group of community newspapers. Dow Jones also produces business television programming.
Copyright (c) 1997 Dow Jones and Company, Inc.

Saturday, November 15, 1997

11/15/97: Thomson, Simon&Schuster, KnightRidder, Amazon.com,

Summary:
Thomson Corp.: Publishing, Travel Units Help Boost Earnings 14%
Stephen King And Simon & Schuster In Book Deal
Knight-Ridder Sells Newspaper
Ziff-Davis And Warner Publisher Services Announce Revolutionary Magazine Distribution Agreement
Golden Books Family Entertainment
Avon Products, Inc. And Hachette Filipacchi
Idg Books Worldwide To Buy Mis: And M&T Computer Presses From Henry Holt
Oracle 8 Selected As Database To Fuel The Unisys Hermes Publishing System
Amazon.Com And @Home Network Sign Multi-Year Agreement To Sell Books Over The @Home Service
Oxford University Press And Imark Announce Electronic Publishing Agreement
CMP Media Expands Internet Management Team With The Addition Of Two New Positions
Princeton Media Group Inc. Announces New Chief Financial Officer

RECENT NEWS:

THOMSON CORP.: PUBLISHING, TRAVEL UNITS HELP BOOST EARNINGS 14%
Thomson Corp., buoyed by higher earnings from its publishing and travel operations, reported a 14% increase in third-quarter earnings and boosted its quarterly dividend by 6.9%. Thomson, Toronto, reported third-quarter earnings of US$342 million, or 56 cents a share, compared with $301 million, or 50 cents a share, a year earlier. Revenue was $2.74 billion, up 10% from $2.49 billion a year earlier. Thomson, which has interests in newspapers, publishing, databases and travel services, increased its quarterly dividend to 15.5 U.S. cents a share from 14.5 cents a share. Thomson rose 1.50 Canadian dollars (US$1.07) to C$35.50 in Toronto Stock Exchange trading.

WSJviaNewsEDGE Copyright (c) 1997 Dow Jones and Company, Inc. Received via NewsEDGE from Desktop Data, Inc.: 11/07/97 02:15:18

STEPHEN KING AND SIMON & SCHUSTER IN BOOK DEAL
Best-selling author Stephen King and Simon & Schuster struck a tentative deal Thursday to publish his novel ``Bag of Bones'' in an unconventional arrangement that will give the horror writer a share of nearly 50 percent of the profits. The negotiations came after King's highly unusual public search for a new company to replace Viking, his longtime publisher. His original $17 million asking price prompted much complaining in the publishing industry that such a conventional deal was a money-losing proposition. But Thursday, Simon & Schuster, a unit of Viacom Inc., announced a three-book ``co-publishing venture'' with King that will give him a share of the profits and of the risks and responsibilities for pricing, marketing and packaging his books. King, who was traveling to New York for a meeting with Simon & Schuster on the agreement, could not be reached for comment. According to a person close to the negotiations, King will share in almost 50 percent of the profits and will receive an advance that is small by his standards - almost $2 million a book. He will not receive bonuses or royalties. The three books are ``Bag of Bones,'' a collection of short stories and a work on the craft of writing.

NYTviaNewsEDGE Copyright (c) 1997 The New York Times Co.

KNIGHT-RIDDER SELLS NEWSPAPER
MIAMI – Knight-Ridder Inc. said it sold the Long Beach Press-Telegram to Garden State Newspapers Inc. for an undisclosed price. The sale completes Knight-Ridder's previously announced plan to sell five newspapers. Garden State Newspapers is a unit of Affiliated Newspapers Inc., Denver.

WSJviaNewsEDGE Copyright (c) 1997 Dow Jones and Company, Inc. Received via NewsEDGE from Desktop Data, Inc.: 11/10/97 02:08:13

ZIFF-DAVIS AND WARNER PUBLISHER SERVICES ANNOUNCE REVOLUTIONARY MAGAZINE DISTRIBUTION AGREEMENT
Entire Stable of Ziff-Davis Magazines to Receive Increased Distribution and Exposure at the Retail Level

NEW YORK, Nov. 11 /PRNewswire/ -- Ziff-Davis, a SOFTBANK Company, and Warner Publisher Services (WPS), a TimeWarner Company, announced today an agreement whereby the entire 13-title line of Ziff-Davis paid-circulation magazines in the U.S. will be distributed nationally by WPS. In announcing the new agreement, Claude Sheer, President, ZD Publishing, and Dan Rubin, President of WPS, emphasized the unique benefits of this new publishing partnership. Rubin said, "We're combining the strengths of three unique industry leaders: Ziff-Davis, the world's leading publisher of computer and video game magazines; the vast distribution capabilities of WPS; plus retail-level merchandising and marketing support from Time Distribution Services. We believe it's a fortuitous combination of resources that will help raise Ziff- Davis' already strong, newsstand sales to new heights." In discussing the agreement, James Gerth, ZD Single Copy Sales and Marketing Director, explained: "This new arrangement will allow us to more efficiently serve both the wholesaler and retailer communities. Given the big changes we've seen recently in the newsstand environment, we're especially pleased, and optimistic, now that this unique agreement is in place." Sheer added, "While Ziff-Davis has seen tremendous growth in its Internet business, growth for all ZD print products remains strong, including those for our flagship, PC Magazine, as well as for Computer Shopper, PC Computing, and Electronic Gaming Monthly." Sheer continued, "Magazines are a vital part of our business, and newsstand sales are integral to our publishing plans. We believe this new agreement will carry us to even greater growth in this important area. That's good news for us, and also for our readers, advertisers, and the wholesalers and retailers who handle our publications."

SOURCE Ziff Davis

Business Brief -- GOLDEN BOOKS FAMILY ENTERTAINMENT: Loss Narrows Amid Decline In Costs From Restructuring

Golden Books Family Entertainment Inc. reported that its third-quarter net loss narrowed, in part because of a decrease in costs related to a continuing restructuring program. The New York company posted a net loss of $17.9 million, or 76 cents a share, compared with a loss of $96.8 million, or $4.29 a share, a year earlier. Results for the latest quarter include a restructuring charge of $3.3 million, or 12 cents a share. Results for the year-earlier period include charges of $80.1 million, or $3.01 a share, largely for restructuring. Revenue decreased 21% to $53.3 million from $67.5 million. The company's main operations include children's publishing and entertainment products for children and families.

WSJviaNewsEDGE Copyright (c) 1997 Dow Jones and Company, Inc. Received via NewsEDGE from Desktop Data, Inc.: 11/12/97 02:15:53

AVON PRODUCTS, INC. AND HACHETTE FILIPACCHI JOIN TO LAUNCH NEW MAGAZINE DISTRIBUTION THROUGH AVON REPRESENTATIVES AND NEWSSTAND

NEW YORK, Nov. 14 /PRNewswire/ -- Avon Products, Inc. (NYSE: AVP) and Hachette Filipacchi Magazines today announced that they will launch a new magazine for women. The two companies -- global leaders in their respective fields -- will together publish Athena: Common Sense, Uncommon Style, designed to provide insightful information about beauty, well-being, and lifestyle for women. "Athena represents a new dimension in publishing," explains David Pecker, President and Chief Executive Officer, Hachette Filipacchi Magazines. "The magazine will deliver the spirit of beauty and high fashion along with accessible information and service. We are thrilled to be in this unique joint publishing venture with Avon."
Debuting in the U.S. with the May/June launch issue in April 1998, Athena is set for a bimonthly schedule. The publication will be initially distributed through the 440,000 U.S. Avon Sales Representatives, as well as newsstands. Cover price will be $3.50, with special pricing for Avon Representatives and their customers. Future global opportunities will be explored to bring Athena to other markets around the world, tapping the powerful distribution network of more than 2 million Avon Sales Representatives worldwide. In both domestic and global markets, Avon's key objective for Athena is to strengthen the company's image and role as a beauty authority. Avon will be the exclusive beauty advertiser in Athena, but the publication will be open to all advertisers in non-competitive categories, such as consumer packaged goods, travel, and automotive, who wish to reach the Athena reader.
Hachette Filipacchi Magazines currently publishes 29 consumer titles reaching over 47 million readers, including American Photo, Audio, Best Selling Home Plans, Boating, Car and Driver, Car Stereo Review, Cycle World, ELLE, ELLE Decor, Family Life, Flying, George, HOME, Metropolitan Home, Popular Photography, Premiers, Road & Track, Showboats International, Stereo review, TopModel, Travel Holiday, Video, Woman's Day, and Eating Well, as well as a number of quarterlies and special publications. HFM is a wholly-owned subsidiary of Hachette Filipacchi Medias, the world's largest magazine publisher, with diverse holdings in printing, newspaper, film production, and outdoor advertising.

IDG BOOKS WORLDWIDE TO BUY MIS: AND M&T COMPUTER PRESSES FROM HENRY HOLT

FOSTER CITY, Calif., Nov. 12 /PRNewswire/ -- IDG Books Worldwide, Inc. has signed a letter of intent to purchase MIS: Press and M&T Books from Henry Holt Publishers in New York for an undisclosed sum. The deal takes Holt out of trade computer book publishing and reinforces IDG Books Worldwide's leadership in technology publishing. IDG Books Worldwide, Inc., founded in 1990, is the number two computer book publisher with total FY1997 gross revenues in excess of $150 million. Final terms of the agreement are expected by the end of this month.
IDG Books Worldwide President and Publisher Steven Berkowitz characterized the acquisition as a strategic move in an industry that is seeing more consolidation. "MIS: Press and M&T Books produce well-written books and series that are in keeping with our commitment to publishing high quality editorial content. Our strengths in building and marketing brands will help us to expand our market share in the tightening book publishing arena."
IDG Books Worldwide, best known for its 40 million selling ... For Dummies(R) series, has made branding a phenomenon in book publishing. The company has created highly identifiable, successful brands for users ranging from beginners using the ...Simplified (R) 4-color illustrated books to high- end professionals using the certification series for Novell and Microsoft engineers and system administrators. IDG Books Worldwide, Inc. is a subsidiary of IDG, the world's leading IT media, research and exposition company. IDG publishes more than 285 computer magazines and newspapers and 500 book titles and offers the largest network of technology specific sites around the world, located at http://www.idg.net, which comprises more than 170 targeted Web sites in 45 countries. IDG is also a leading producer of 110 computer-related expositions worldwide, and provides IT market analysis through 49 offices in 41 countries worldwide. Company information is available at http://www.idg.com. Information about IDG Books is available at http://www.idgbooks.com. SOURCE IDG Books Worldwide, Inc.

ORACLE 8 SELECTED AS DATABASE TO FUEL THE UNISYS HERMES PUBLISHING SYSTEM

REDWOOD SHORES, Calif., Nov. 12 /PRNewswire/ -- Oracle Corp. (Nasdaq: ORCL) and Unisys (NYSE: UIS), a leading newspaper-system supplier, today announced they will deliver an integrated system, based on Sun Microsystem's Solaris platform, that answers the increasingly complex information technology needs of the publishing industry. Unisys has chosen Oracle8(TM) to power the Unix-Based version of Hermes, its global, integrated publishing system. Hermes will meet user requirements for scalability, reliability and tight-system integration in order to redefine workflow, reduce costs and help in the migration to electronic publishing. This combination will enable publishers to streamline their business from editorial, production and archiving processes to management of all news information electronically to support for hundreds of concurrent users.
"The core competencies of Oracle8 -- the ability to handle more data, support more users, deliver results faster and at a lower price - directly address the needs being expressed in the publishing industry today," said Polly Sumner, senior vice president of Communications Industry, Oracle Corp. "Unisys' Hermes system with Oracle8 as the database backbone provides publishers with the ability to globally manage and deliver information for both traditional and electronic publishing mediums."
"For publishing groups that are looking to reengineer their publishing systems and to reengineer their productions processes, the Unisys Publishing Solutions offer global, scaleable, integrated applications," said Franco Giglio, director of Publishing Center of Excellence Systems, Unisys. "Oracle8 provides the database engine needed to support the scalability and reliability requirements of our customers." The Hermes publishing system, a major component of the Unisys Publishing Solutions, has been expressly designed for metropolitan newspapers which face large organizational issues and complex production processes in highly mission-critical environments. Hermes is applicable for both text-driven and layout-driven publications, as it can support several editorial organizations' needs for design layout, text and headline editing, image processing, ad display creation, page planning, production tracking and full-page output.

ONLINE/INTERNET NEWS:

AMAZON.COM AND @HOME NETWORK SIGN MULTI-YEAR AGREEMENT TO SELL BOOKS OVER THE @HOME SERVICE

SEATTLE, and REDWOOD CITY, Calif., Nov. 10 /PRNewswire/ -- Amazon.com, Inc. (Nasdaq: AMZN), the leading online book retailer, and @Home Network (Nasdaq: ATHM), the leader in high-speed Internet services via the cable infrastructure, today announced a multi-year agreement whereby Amazon.com (www.amazon.com) will be the premier bookseller throughout the @Home service. @Home users will have high-speed, direct access to browse and purchase books from Amazon.com's catalog of more than 2.5 million books. These services are expected to be integrated into @Home's service by the end of the year. This agreement marks the first time Amazon.com has formed a strategic alliance with a cable Internet service provider.
Based in Redwood City, California, @Home Network (http://www.home.net) distributes high-speed interactive services to residences and businesses using its own network architecture and a variety of transport options including the cable industry's hybrid-fiber coaxial infrastructure. The cable connection provides users significant increases in speed over conventional Internet services. Leveraging the "always on" attributes of cable, @Home allows for unique multimedia applications that go beyond current Web experiences. Since its founding in May 1995, @Home Network has reached affiliate agreements with eight leading cable companies in North America, including Tele-Communications Inc., Cablevision Systems Corp., Comcast Corporation , Cox Communications, InterMedia Partners, Marcus Cable, Rogers Cablesystems Limited, and Shaw Communications

OXFORD UNIVERSITY PRESS AND IMARK ANNOUNCE ELECTRONIC PUBLISHING AGREEMENT

RESTON, Va.--(BUSINESS WIRE)--Nov. 6, 1997--Imark Technologies Inc. (NASDAQ: MAXX) a leading provider of electronic commerce solutions to the information industry, announces an agreement with Oxford University Press USA (OUP) to develop an e-commerce version of "The Computational Intelligence Library" to be available commercially in 1998. Through this collaboration, OUP will employ Imark's award winning NET-MAX(TM) Internet billing system, which enables information providers to outsource the complete development and maintenance of all electronic commerce functions. Imark's NET-MAX metering and billing system is the winner of the 1997 Information Industry Association Award for the Best Enabling Technology of the Year.
The Computational Intelligence Library, a joint publication of OUP and the Institute of Physics Publishing, is a comprehensive reference tool for computer scientists, engineers, psychologists, mathematicians, and physicists, providing a continuously updated overview of the dynamic field of Computational Intelligence. The Computational Library is positioned as an all-encompassing reference that collates research findings from various sources into one authoritative work. Imark will assist OUP in optimizing the online version of the library, designing an online customer registration system with tracking and reporting of customer usage, and advising on possible future enhancements to the pricing model. "We are very pleased to enter into this exciting new relationship with Imark Technologies. What Imark offers Oxford University Press is the ability to bring a niche product to market quickly and cost-effectively with an award winning e-commerce system to back it up" said Royalynn O'Connor, Online product director at Oxford University Press-USA.

PEOPLE ON THE MOVE:

CMP MEDIA EXPANDS INTERNET MANAGEMENT TEAM WITH THE ADDITION OF TWO NEW POSITIONS

MANHASSET, N.Y.--(BUSINESS WIRE)--Nov. 11, 1997-- CMP Media's (Nasdaq: CMPX) rapidly-growing CMPnet, the technology network at http://www.CMPnet.com, has created two new management positions and concurrently named a new Associate Publisher for sales and a new Director of Marketing. Chris Tice, most recently CMPnet's Associate Publisher, Sales and Marketing, has assumed the new position of Associate Publisher, Business Development and will retain responsibility for marketing and research. Meryl Otis, previously Associate Publisher for NetGuide Magazine, has been named Associate Publisher, Sales for CMPnet. Aimee Levine joins CMPnet from Time Warner as Director of Marketing. Helen Flaum, formerly a Director of Information Technology in CMP's corporate IT department, has moved over to the Internet Media Group as Director of Operations for the group, which produces CMPnet. In announcing the staffing changes, Rebecca S. Barna, Vice President/Group Publisher of the Internet Media Group, said: "These management moves reflect our commitment to bring users the best information and advertisers the most targeted and cost-effective buy in technology online."

PRINCETON MEDIA GROUP INC. ANNOUNCES NEW CHIEF FINANCIAL OFFICER

PALM BEACH, Fla.--(BUSINESS WIRE)--Nov. 10, 1997--Princeton Media Group Inc. (Nasdaq:PMGIF) announced Monday that Hugo Barreca has been named the new chief financial officer for the company. Robert F. Kendall, formerly CFO, has become senior vice president of Finance. Barreca, who joined the company in September 1997, brings over 20 years of experience in the publishing industry, including senior positions with Time Inc., The New York Times Magazine Group and Gruner+Jahr USA Publishing. His responsibilities have included strategic business planning, financial planning and management, contract negotiations and purchasing, and computer systems development, including inventory database systems, financial management systems, logistic models and telecommunications systems. Barreca received an M.B.A. from New York University and a J.D. from Fordham School of Law, as well as other academic degrees and professional honors. Barreca will be responsible for the company's overall financial planning and management. He will also direct the company-wide consolidation of current operations and implement the company's expansion program through continued acquisitions of related business operations in publishing, advertising, websites and other related media.