As expected, Books-A-Million shareholders approved the Anderson family’s plan to take the company private in a deal worth $3.25 a share. The transaction is set to close on Thursday, December 10, and, according to BAMM’s announcement, the merger agreement was adopted by the stockholders representing approximately 88.3 percent of the aggregate voting power of outstanding common stock, as well as by 66.3 percent of shareholders not affiliated with the Anderson family, “thus satisfying the ‘majority of the minority’ stockholder approval condition in the merger agreement.” In their most recent quarterly filing, posted last month, Books-A-Million reported third quarter sales of […]
Archives for December 2015
Launch Kids, Masterclasses, and More Added for Digital Book World
We’re starting to add more details on the full programming line-up for the next big Digital Book World, running March 7 – 9. For the first day, before the main DBW conference begins, Launch Kids — the country’s biggest event for children’s publishing — returns. Covering both the consumer and education markets, Launch Kids looks at the latest generation of ideas and content, from the best strategies in book marketing to what’s happening in the physical — and digital — library market, to the trends driving editorial decisions. The program is still in formation, but as usual includes everything from original data on children […]
Wiley Revenue Decline Continues in Q2
Wiley reported second quarter sales for the period ending October 31, with sales falling 5 percent to $433 million (down $44 million) on currency exchange. Adjusted operating income of $64 million was down 13 percent for the quarter, and net income was down $8 million (or 11 percent) to $45.9 million. In the professional development division, which includes their remaining trade books, revenue dropped 3 percent overall to $99.2 million. Book sales were down 6 percent, however, with print book sales of $49.2 million declining 4 percent, and digital book sales of $11.9 million were down 14 percent. For the rest of fiscal […]
Barnes & Noble Education Falters During Key Back-to-School Quarter
Barnes & Noble Education followed in the footsteps of their former parent company with a disappointing second quarter sales report — only it matters more to BNED, since this was supposed to be their big “fall rush” season. Sales of $755.9 million were up $4.2 million, but net income fell by $3.6 million to $33.4. (They opened 7 new stores in the quarter, which added $6.6 million in sales.) EBITDA fell as well, at $72.7 million, down $5.2 million. Same-store sales dropped 3 percent in the quarter. CEO Max Roberts said in the release, “This fall rush period was negatively […]
People
Founder and ceo of Chicago Review Press Curt Matthews announced he will retire from day-to-day management of the company, which is the parent company of Chicago Review Press Books, Triumph Books, and Independent Publishers Group, at the end of the year. Joe Matthews, currently coo of IPG, will take over as ceo in January, while Matthews will remain as board chairman and keep an office at company headquarters to insure a smooth management transition. Matthews, who founded CRP Inc. in 1973, said in the announcement: “It has been a wild ride. The publication of one book turned into a company that […]
People
Former editor and literary agent Tim Seldes, 88, died at home in Washington, DC on Saturday. Seldes bought the agency Russell & Volkening agency in 1972, and retired after selling the agency to Lippincott Massie McQuilkin in 2012. Stacia Decker will join Dunow, Carlson and Lerner on January 2. She has been with the Donald Maass Agency since 2009. Michael Jon Jensen has joined Westchester Publishing Services, a composition and editorial services company, as director of technology. He was part of the startup group at Project MUSE, and for many years was director of publishing technologies for the National Academies Press. Lauren Kretzschmar has been promoted to publicist […]