L Brands Reports Record Third Quarter 2020 Results

Hachette Book Group has acquired most of the assets of Meadowbrook Press, which is based in the Minneapolis suburb of Minnetonka. Approximately 25 of Meadowbrook’s pregnancy, childcare, and parenting backlist titles will be updated and reissued under the Da Capo Lifeline Books imprint. Another 25 of Meadowbrook’s children’s and gift/humor backlist titles will be reissued by HBG's Running Press unit. Meadowbrook Press was founded in 1975 by Bruce Lansky and his then-wife, Vicki, to publish her first book, Feed Me I’m Yours, a cookbook for parents of young children; it has sold to date more than three million copies. The company is also the publisher of several bestselling titles for parents and expectant parents, such as The Simple Guide to Having a Baby, which has sold 1.5 million copies, Pregnancy, Childbirth and the Newborn, which has sold almost 1.4 million copies, as well as six baby-naming books, including 100,000+ Baby Names. The baby-naming books, which were authored by Lansky, have sold a total of more than 11.5 million copies. Click Read More below for additional information.

Postmaster General Louis DeJoy issued the following statement on July 27, 2020: “The Postal Service is in a financially unsustainable position, stemming from substantial declines in mail volume, and a broken business model. We are currently unable to balance our costs with available funding sources to fulfill both our universal service mission and other legal obligations. Because of this, the Postal Service has experienced over a decade of financial losses, with no end in sight, and we face an impending liquidity crisis. Congress and the Postal Regulatory Commission must enact legislative and regulatory reforms to help address the situation. At the same time, it is imperative for the Postal Service to operate efficiently and effectively. Indeed, there are alternatives to every product that we offer, and the only way that the Postal Service can continue to provide prompt, reliable, and affordable universal postal services for all Americans over the long-term is by vigorously focusing on the efficiency of our operations." click read more below for additional comments

InnerWorkings, Inc. and HH Global Group Limited announced that they have signed a definitive agreement to combine operations. Under the terms of the agreement, HH Global will acquire InnerWorkings for $3.00 per share in an all-cash transaction representing approximately $177 million in equity value. This represents a premium of 127% to the closing price, and a premium of 104% to the 90-day volume weighted average price as of July 15, 2020. The transaction has been unanimously approved by the Boards of Directors of both companies. “Over the past several months, we’ve been taking actions to put InnerWorkings in the best position to weather the challenging environment in which we’re operating,” said Rich Stoddart, Chief Executive Officer of InnerWorkings. “In these times of significant economic uncertainty, the Board of Directors and management determined to undertake a comprehensive process to preserve and enhance value for shareholders. After exploring a range of financing and strategic alternatives, and implementing meaningful cost saving measures in response to the COVID-19 pandemic, we’re confident this combination represents the best path forward for our shareholders and InnerWorkings. In addition to delivering an immediate cash premium to our shareholders, the combination will create a company with a stronger balance sheet and will enhance our ability to accelerate our transformation and serve our client base.”