The AP reports a variety of grim measures of decline in the audiobook market. The 14 publishers who report audio sales to the AAP cite a 47 percent drop in revenue so far in 2009, while those physical audiobook sales tracked via Nielsen BookScan (which does not include any downloadable audio) have declined 20 percent in units for the year to date.AP As for individuals, writer-filmmaker John Sayles’ sweeping new 1,000-page novel SOME TIME IN THE SUN has failed to find a publisher since first going on submission last fall. Agent Anothny Arnove tells the LAT, “When I went out […]
Archives for May 2009
Things On the Market or Recently Sold
Over the weekend the NYT reported on former Vice President Dick Cheney’s campaign for a book deal, represented by Bob Barnett. “A person familiar with discussions Mr. Cheney has had with publishers said he was seeking more than $2 million for his advance.” But “Cheney’s friends say he does not need the money and has made clear in his talks that he is eager to give a full accounting of his life in politics that will debunk his many critics. According to a person familiar with a meeting that Mr. Cheney had with a publisher, the former vice president is […]
Lunch Weekly for Monday, May 25
Deal Reports Just e-mail to deals@PublishersMarketplace if you aren’t using the online form linked below. Report a deal using the online form The Key As usual, the handy key to our Lunch deal categories. While all reports are always welcome, those that include a category will generally receive a higher listing when it comes time to put them all together. “nice deal” $1 – $49,000 “very nice deal” $50,000 – $99,000 “good deal” $100,000 – $250,000 “significant deal” $251,000 – $499,000 “major deal” $500,000 and up FICTION Debut Iowa MFA and University of Wisconsin Fiction Fellow Susanna Daniel’s STILTSVILLE, […]
People and Announcements
Doubleday executive editor Gerry Howard has been named the winner of the Mercantile Library Center for Fiction’s Maxwell E. Perkins Award for Distinguished Achievement in the Field of Fiction. Chairman Peter Ginna said, “Over the course of many years Gerald Howard has introduced and championed the work of a host of writers who have helped to push the boundaries of contemporary fiction.” Random House UK launched their social networking site for book clubs, ReadersPlace, a follow-on to last year’s AuthorsPlace site, which lets the publisher’s authors set up, personalize and update their own web pages and manage their own online […]
HMH Parent Aims to Swap Equity for Debt
The Irish Independent cite says Houghton Mifflin Harcourt parent company Education Media & Publishing Group, just like the ailing auto giants, is “on the cusp of finalizing a massive restructuring of its balance sheet, which will see holders of a chunk of its $7 billion debt turn their exposure into equity.” Citing “market sources,” they say that as a result, financial whiz and current ceo Barry O’Callaghan would have his 38 percent stake significantly diluted. Reed Elsevier would also see the 11.8 percent stake they took as part of the sale of Harcourt diluted in such a deal. While “it […]
Books-A-Million Grows Sales, As Does Indigo
Overall sales actually rose at Books-a-Million in the first quarter, up $2.3 million to $118.2 million, while same-store sales slid 1.1 percent. Net income rose to $2.1 million, though much of the gain came from savings on stocks grants and compensation forfeited when ceo Sandra Cochran left the company. CEO Clyde Anderson says in the release, “Given the difficult economic environment, we’re pleased with our results for the quarter. While comparable sales numbers were down slightly, they represented an improvement over recent quarters, and our continued focus on cost control, gross margin and inventory management delivered improved earnings.” Release At […]