Gannett Sells ‘The Farmington Daily Times’ To Ballantine (mediapost.com)

Two authors from Penguin Random House, Jayne Anne Phillips and Cristina Rivera Garza, were awarded a Pulitzer Prize this year. They won in the “Fiction” and “Memoir or Autobiography” categories. Since the Pulitzer Prize was introduced in 1917, a total of 137 Penguin Random House authors have received the famous award. It is the continuation of a fine tradition that goes back more than 100 years. When this year’s Pulitzer Prize winners were announced at Columbia University in New York on Monday, Penguin Random House authors were once again among the honorees: Jayne Anne Phillips and Cristina Rivera Garza were honored in the “Fiction” and “Memoir or Autobiography” categories. The Pulitzer Prize is one of the most prestigious literary prizes in the United States, and is given in the categories of “Fiction,” “History,” “Biography,” “Memoir or Autobiography,” “Poetry,” and “General Nonfiction.”

FedEx Corp. announced that, effective June 1, 2022, Frederick W. Smith, Chairman and Chief Executive Officer, will become Executive Chairman, and Raj Subramaniam, President and Chief Operating Officer, will be promoted to President and CEO. In addition, R. Brad Martin, Chair of the Board’s Audit Committee, is now non-executive Vice Chairman of the Board. As Vice Chairman of the Board, Martin is the Board’s designated successor to serve as Chairman of the Board. David P. Steiner, Chair of the Board’s Governance, Safety, and Public Policy Committee, will continue to serve as Lead Independent Director. Smith and Subramaniam will both report directly to the Board, and the Chief Operating Officer position will not be backfilled. As part of the transition, Subramaniam has been named President and CEO-elect of FedEx Corp. effective immediately.

The U.S. Postal Service announced its financial results for the first quarter of its fiscal year 2022 (Oct. 1, 2021 - Dec. 31, 2021), reporting an adjusted loss of approximately $1.3 billion for the quarter, compared to an adjusted loss of $288 million for the same quarter last year. Adjusted loss excludes non-cash workers' compensation adjustments for the impacts of actuarial revaluation and discount rate changes, which are outside of management's control. On a U.S. generally accepted accounting principles basis, the Postal Service had a net loss of approximately $1.5 billion for the quarter, compared to net income of $318 million for the same quarter last year. The increases in both net loss and adjusted loss were partially driven by inflationary impacts to operating expenses, including rising prices associated with energy and fuel expenses.