The mystery of BookLamp’s disappearance online has been solved: The company was purchased by Apple. The price was not disclosed, but a source tells Tech Crunch — which reported the news on a tip and then obtained confirmation from Apple — that the price was “higher than $10 million and lower than $15 million.” Apple’s only official comment, was: “Apple buys smaller technology companies from time to time, and we generally do not discuss our purpose or plans.” In April BookLamp’s web site displayed a “thank you for your support” message that only indicated their beta book recommendation engine (the […]
Archives for July 2014
Legato to Be Merged Into PGW as Suchomel Exits
Ingram’s acquisition of Perseus’s distribution companies will close on July 31 as previously expected, and the first major change will see Legato Publishers Group formally merged into PGW, with founder Mark Suchomel leaving on August 1. The former president of IPG, Suchomel founded Legato in May 2013 and it operated as an “affiliated” of PGW. In a statement Ingram Publisher Services general manager Mark Ouimet said: “As part of the acquisition of the Perseus distribution business and its transition to Ingram, Mark Suchomel will not be continuing on in his role as President of Legato Publishers Group as of August 1, 2014. […]
People, Etc.
Houghton Mifflin Harcourt has hired Bridgett Paradise as svp of human resources and chief people officer, reporting directly to CEO Linda Zecher. Her role “will encompass human resources strategy and policy, including talent management and acquisition, organizational design and employee benefits. Paradise has been at Microsoft, most recently in the position of general manager, human resources for the worldwide services division. Abigail Naqvi has joined Bloomsbury as the new head of academic marketing for the Americas. Previously she was marketing manager at Palgrave Macmillan. At HarperCollins, Susan Yeager has been promoted to director of sales, mass merch. At Knopf Children’s, Allison Wortche has been promoted to […]
Judge Cote Unconvinced By Aspects of Apple Settlement Proposal
In a teleconference call with lawyers for Apple, the plaintiff states, and the consumer class, Judge Denise Cote “expressed concern” with the proposed settlement before her that would see Apple pay anywhere from nothing (if they win their appeal of Cote’s July 2013 ruling in favor of the Department of Justice) to $450 million (if Apple loses.) Reuters reports Judge Cote found the middle scenario, which would have Apple pay $70 million should the appeals court reverse her finding in part and send it back for further proceedings, “most troubling” and thought it “might be unfair to consumers by undervaluing their claims.” […]
Pearson Steady During Restructuring; PRH “Performed Well”
Pearson reported sales for the first half of the year of £2.047, down 7 percent (but up 2 percent on currency neutral basis). Adjusted operating profit was 75 million pounds, compared to 137 million pounds a year ago, reflecting bigger charges on their continuing restructuring charges (£43 million so far this year), foreign exchange, and “the impact on margins of the phasing of revenues into the second half of 2014.” Those charges were apportioned as: School, £22 million; Higher Education, £10 million; Professional, £4 million, and PRH £7 million. All of Pearson’s sales decline and then some came from the […]
Amazon Loses More Money Than Expected; Stock Suffers
Amazon’s stock is down over 10 percent in early Friday trading (a decline of almost $40 a share) after reporting a larger than expected loss for their second quarter — and forecasting bigger losses for the next quarter. Second quarter sales grew 23 percent to $19.34 billion, with an operating loss of $15 million, and a net loss of $126 million, or 27 cents a share. Sales were right on target with analysts’ estimates, but the loss was bigger than the consensus guess of 15 cents a share. That earnings miss plus third quarter guidance of a big operating loss of anywhere between […]