Following mediation by the Southern District’s US Bankruptcy Court, bankrupt Cengage says they have “reached an agreement with the company’s major financial stakeholders and creditors” to emerge from Chapter 11 once approved by the Court. As planned all along, more than $4 billion of their big debt load of $5.8 billion will go away (which still leaves them carrying substantial ongoing debt), and the company has lined up exit financing of between $1.5 billion and $1.75 billion, plus a new revolving credit line of about $250 million. The company hopes to have their plan confirmed by the court in March. […]
Archives for February 2014
People, Etc.
After more than 20 years at ICM, agent Heather Schroder left the firm recently to start her own agency, Compass Talent. Her first deal under the new banner, with Flatiron Books, is posted today in our deal reports. Kelley Allen has joined Humble Bundle as director of ebooks. Previously she was a senior vendor manager at Kobo and before that, director of ebookstore and publishing relations at Diesel. At Houghton Mifflin Harcourt, Jen Reynolds has been promoted to director of field sales. At Vintage/Anchor, Claudia Martinez has been promoted to design director. Manager of production and digital distribution at Random […]
Corporate: Little Brown UK Buys Constable & Robinson; Simon & Schuster Launches Business Book Site
Little Brown UK has purchased Constable & Robinson, which will continue to operate as its own entity under managing director Pete Duncan, who will report to David Shelley. Nova Jayne Robinson indicates to the Bookseller that the conversations began some time last year, before the death of previous chairman Nick Robinson in September. “Nick and I shared the view that we could not imagine a better home.” C&R had been a member of the UK’s Independent Alliance, and they have been the UK distributor for Skyhorse as well as New Harbinger and New Holland. Simon & Schuster has launched 250 Words, […]
Amazon’s Best of February; BN Discover Great New Writers Award Finalists
Amazon announced their February books of the month, with Lisa Moore’s Caught as their “spotlight pick” and Joshua Max Feldman’s The Book of Jonah as the “featured debut.” The other picks are: An Officer and a Spy, Robert Harris The Race Underground, Doug Most Annihilation, Jeff VanderMeer Young Money, Kevin Roose The Wives of Los Alamos, TaraShea Nesbit This Dark Road to Mercy, Wiley Cash Red Rising, Pierce Brown Chance, Kem Nunn All Joy and No Fun, Jennifer Senior Separately, Barnes & Noble announced the finalists for its Discover Great New Writers Award, with winners in fiction and nonfiction to be named on […]