Less than a week after reports emerged that former Navy SEAL and author of NO EASY DAY (and the forthcoming NO HERO) Matt Bissonnette was under criminal investigation by the federal government, he has taken steps against his former attorneys, filing a lawsuit for malpractice in a Manhattan federal court on Wednesday. According to the AP (the full complaint is not yet available online), filing suit under his pseudonym Mark Owen, Bissonnette alleges that Kevin Podlaski at Carson Boxberger in Fort Wayne, Indiana, “gave him bad advice that tarnished his reputation, cost him his security clearance and caused him to surrender much […]
Archives for November 2014
Houghton Reduces Sales Forecast, But Cites Strong Future Billings and Digital Adoption
Houghton Mifflin Harcourt reported third quarter earnings on Thursday morning, with sales just above flat at $551 million, and net income also just above flat at $107 million. In trade, sales of just above $46 million “increased slightly” compared to a year ago, “reflecting strong tie-in book sales following the release of The Giver by Lois Lowry” as a movie (and inclusion in Kindle Unlimited). “Strong frontlist” sales that also included Randall Munroe’s What If? “were partially offset by a higher reserve for returns.” But adjusted trade EBITDA declined 16% or $1.4 million, to $7.2 million for the period. (HMH […]
Harper’s Sales Rebound and Profits Increase Further
HarperCollins reported sales for their fiscal first quarter, ending September 30, with two months worth of Harlequin incorporated — lifting revenues for the period to $406 million (compared to a low $328 million a year ago) and boosting EBITDA to $55 million (compared to $43 million a year ago). On an adjusted basis, leaving aside Harlequin and $5 million of currency fluctuations, Harper’s sales were $343 million (up 6 percent, after weak sales this time a year ago) and EBITDA was $53 million, up 23 percent. Parent company News Corp. credited the increased earnings to “higher revenues coupled with ongoing […]
Simon & Schuster Maintains Strong Profits, Even On Weak Third Quarter Sales
Sales at Simon & Schuster fell noticeably in the third quarter (ending September 30), down $25 million to $199 million. Profits remained strong, however, equal to the record earnings this time a year ago, with OIBDA of $43 million, “as lower inventory and selling costs offset the revenue decline.” (Sales were lower for this quarter than they have been at any point over the past 7 years; the next lowest mark was recorded in 2012, when third quarter sales were $210 million.) CEO Carolyn Reidy attributed the sales shortfall to the timing of their big releases, with Stephen King’s new novel releasing in […]
People: Bykofsky Associates Takes Over DSM Agency List
Sheree Bykofsky Associates has taken over the list of DSM Agency, as Doris Michaels “decided to make a transition in her life, which meant finding a new home for her clients.” Colleagues for a long time, they report: “Sheree and Doris realized that they ran their agencies in much the same way and Doris decided to look no further in her search for the perfect home for her list. It has been an extremely smooth transition, and they both feel like this was meant to be.” Sara Weiss has been promoted to editor for both the Grand Central Life & Style and Grand […]
Two Top Simon & Schuster Canada Executives to be Replaced
Right on the heels of HarperCollins’ announcement that they are eliminating the position of ceo at HarperCanada, exiting the distribution business in that country and transferring Canadian fulfillment to a Donnelley facility in Indiana came news of two high-level departures from Simon & Schuster Canada. Martha Sharpe, hired as editorial director a year ago, and 16-year veteran, associate publisher Alison Clarke, have both left the company, first reported by the Globe and Mail. Samantha Haywood at Transatlantic Agency told the paper, “It’s a kick in the gut.” The company confirmed the departures, and president of S&S Canada Kevin Hanson said […]