RR Donnelley Press Exploring Sale

first_imgThe memo refutes some of the framing of that article however, claiming that it was Press+ who initiated discussions around a sale several months ago. Founders Steven Brill and Gordon Crovitz would not comment directly, but their memo says they’re looking for international opportunities and new markets that RR Donnelley doesn’t offer at the moment.”Press+ might be better able to take advantage of the opportunities offered for international expansion and—with our new video meter—expansion into new content markets by having a home with a different kind of partner,” they say.Brill and Crovitz also hint at possible expansion under new ownership.The group, previously known as Journalism Online, has grown rapidly in the two-and-a-half years since it was purchased by RR Donnelley for a reported $35 million. With less than 30 clients at that time, Press+ now says it has about 450 with more on the way. A London-based business development director was hired in June with the intent of expanding the company’s presence internationally.The move would ultimately be a minor one for RR Donnelley which generated $2.6 billion in net sales for the third quarter and acquired Consolidated Graphics for $620 million last month.The Press+ platform, launched in 2009, is based on a freemium content model. Visitors get a set number of stories (usually around 10) for free and are asked to pay for access to more.The memo from Brill and Crovitz:You may have seen, or will see, a report from Ken Doctor [of Nieman Journalism Lab] that RR Donnelley is “shopping” Press+. Although “shopping” is not accurate, what is going on is that a few months ago we began discussing with RRD the possibility that now that we have grown so fast, Press+ might be better able to take advantage of the opportunities offered for international expansion and – with our new video meter – expansion into new content markets by having a home with a different kind of partner. At the same time, RRD could be rewarded for its early investment. (Remember: when they bought us, we had just a dozen or two launched Affiliates.) Put simply, they’v been an ideal partner, and this is a possibility we are exploring together.Nothing is certain. We are under no pressure to do anything; we are simply considering various possibilities. And if we do change or add partners, the two of us aren’t going anywhere (and, if anything, in this scenario the staff would probably be expanding more quickly).We will keep you posted, but don’t expect any big announcements soon. And please keep this confidential. Steve and Gordon *Editor’s note: Folio: is a Press+ client.RR Donnelley’s digital paywall platform, Press+, is on the market, according to an internal memo obtained by Folio:.Nieman Journalism Lab broke the news that the company was being “shopped” on Wednesday.last_img read more

Maharshis second song introduces Rishi

first_imgTelugu’s Super Star Mahesh Babu’s upcoming movie ‘Maharshi’ is one of the most awaited movies of the season. With Pooja Hegde as the female lead opposite Mahesh Babu, actor ‘Allari’ Naresh is to be seen in an important role in Maharshi.After the first song from Maharshi movie grabbed the attention of all the second number is out now. The first song with the lyrics “Choti Choti Batein” became quite famous with peppy music composed by Devi Sri Prasad. While the first song established the friendship between Mahesh Babu, Allari Naresh, and Pooja Hegde, the second song seems quite different.The second number with the lyrics “Nuvve Samastham” is out now. The makers had released the song and Mahesh Babu shared the lyrical video quoting, “Up, close & personal with Rishi through #NuvveSamastham #TheAuraofRishi #Maharshi”.The song Nuvve Samastham is sung by Yazin Nizar and the lyrics are penned by Shree Mani. The song looks much like an introductory song for Mahesh Babu in the movie. The lyrics are catchy and the music composed by Devi Shri Prasad is fresh.Mahesh Babu will be seen as Rishi in this movie. Directed by Vamshi Paidipally, the movie is set for a release on May 9.last_img read more

Flipkart stops selling ebooks due to poor response

first_imgIndia’s largest online retailer Flipkart has stopped selling electronic books from 11 December 2015, as it saw the Indian users not yet ready to adopt the ebook format.Flipkart portal is showing the message “Sorry! Page not found.” for a search conducted to shop ebooks.However, the service will be continued by Canada’s eBook and eReader provider Rakuten Kobo for those who already purchased books on Flipkart.”The Indian book market is overwhelmingly dominated by physical books, and this is a market that is growing at a fast clip. Flipkart will continue to be a leading player in the overall books market in India,” the company said in a statement.”In its overall strategy for books, Flipkart does not see the ebooks service as a strategic fit and hence the decision of transitioning the ebooks service to Kobo,” it said.The online retailer had started selling e-books on its platform from November 2012 and in the following year it launched an e-book app for mobile users.Speculations over Flipkart quitting its ebook business started in September after it ended an agreement with Smashwords, a distributor of ebooks. Flipkart had partnered with Smashwords in August 2013.While Flipkart’s ebook business did not show any pick up, its rival Amazon India scored well on the front and analysts estimate the company is the largest seller of ebooks.So far, Flipkart has exited business in three categories, with the latest being ebook, even though it continues to expand its services to new categories and sell more merchandise than Seattle-based Amazon, Livemint reported.Last year, Flipkart had closed its payment gateway Payzippy, launched in July 2013, after the service failed to meet its expectations.Similarly, it shut down music streaming business Flyte in May 2013, citing risks of music piracy and lack of proper infrastructure.last_img read more