With Barnes & Noble all but private, the nation’s second largest bookselling chain Books-A-Million may go completely private, as the controlling stakeholders at the Anderson family have offered to acquire all outstanding shares. It is a modest offer–at $3.05 per share in cash, it values the entire company at $48.8 million, and is a 20 percent […]
Archives for April 2012
Corporate: Scholastic Expect More Earnings Thanks to Hunger Games Sales; Secound Round Bids for Flammarion
Scholastic significantly increased its earnings guidance for fiscal 2012, which ends on May 31, to exceed $3.40 a share, “based on stronger than anticipated sales of The Hunger Games trilogy following the March 23 movie release.” Previously, the company projected annual earnings of between $2.60 to $2.90 per diluted share, while the company’s prior guidance […]
People, Etc.
Amber Guetebier has been promoted to editor at Red Wheel Weiser Books and Conari Press. She was formerly assistant editor. Chad Harbach won the Book-of-the-Month Club’s First Fiction Award for The Art of Fielding; Tea Obreht won the Quality Paperback Club’s New Voices Award for her debut novel The Tiger’s Wife, and Conor Grennan received the QBPC’s nonfiction New […]
BN Puts Nook and College Business Into New Subsidiary, With Microsoft Investing $300 Million
The future of both Barnes & Noble and the digital reading business took new shape Monday morning as the bookseller announced the creation of a new subsidiary, into which they have transferred all of the Nook and BN College units (comprising “their digital device, digital content and college bookstore businesses.”) Microsoft is investing $300 million in that […]
First Quarter Sales Rise Modestly at Penguin; Promises “Robust Defense” Against DOJ
Pearson issued a brief first quarter trading update, in advance of their annual meeting. Sales rose 3 percent overall in the period, at £1.16 billion, up 11 percent on a constant-exchange-rate basis. The company expects profits in the first half of this fiscal year to be lower than a year, with income “heavily weighted to […]
People, Awards, Etc.
Sourcebooks has promoted Barbara Briel to svp, chief operating officer, “responsible for oversight of Sourcebooks’ daily operations, including driving performance measures and strategic planning activities throughout the company.” She joined the company in 2004 as accounting manager, and in 2007 was named vp, director of administration and finance. Additionally, Nick Martinelli has been promoted to web […]