Sarah Bowlin is leaving her position as senior editor at Henry Holt on August 25 to move to Los Angeles. She can be reached for freelance work and other inquiries at svbowlin@gmail.com. Melissa Zar has joined Macmillan Children’s as marketing manager. Previously she was a marketing manager at Random House Children’s. Katy Lynch has been promoted to publicist for Sourcebooks Jabberwocky and Fire. Acquisitions Software provider Ingenta has acquired 5 fifteen Ltd, a software supplier to the magazine and newspaper industry. They say it “will allow Ingenta to strengthen its product portfolio and strategically build on its existing plans to diversify its […]
Archives for July 2016
As Expected, Pearson Falls
Joining the big wave of earnings reports was Pearson on Friday, with results for the first half of the year. Sales fell £131 million to £1.866 billion, down 7 percent overall (and down 11 percent on a currency neutral basis) — “primarily due to the expected declines in assessment revenues in the US and UK” — and income fell away, with operating profit from continuing operations of £15 million and a loss 1.3 pence per share. The latest of their continuing restructuring initiatives, given the innocuous-sound name of “simplification and change programs,” is said to be on pace, and they […]
Simon & Schuster Sustains Profit Growth, On Lower Sales
Simon & Schuster’s parent company CBS reported second quarter sales after the close of the market on Thursday, with publishing revenues falling 6 percent to $187 million (down from $199 million a year ago). But operating income grew by $1 million, up to $26 million, “as the revenue decline was more than offset by lower production, selling, and inventory costs.” CEO Carolyn Reidy said the sales decline was “purely title related” in terms of the release schedule compared to a year ago. “We’ve got massive stuff coming” later this year, including anticipated books by Amy Schumer and Bruce Springsteen, Reidy […]
A Good Quarter for Amazon, With Media Sales Growing
Amazon reported second quarter results, with North American media sales of $2.928 billion up 12 percent (from $2.62 billion a year ago), as international media sales rose 9 percent $2.283 billion (from $2.094 billion a year ago). That’s a total of $765 million lower than competitor Apple’s just reported second-quarter media and related “services” sales, now trailing Apple by more than $1 billion for the first half of the year in these comparable segments. Overall Amazon had a strong quarter, with sales of $30.4 billion, up $23.2 billion a year ago, and much stronger net income of $857 million (on $1.285 billion […]
Lagardere Publishing Is Just Above Flat, Even with Perseus Sales
Lagardere reported results for the first half of the year on Thursday afternoon, with the book publishing group just above flat, recording sales of €970 million (up €2 million) and flat EBIT at a relatively low €36 million for the period, even with the addition of the Perseus imprints. Acquired on April 1, those lines added sales of €22 million — but negative foreign exchange cost €18 million, primarily due to the decline in the British pound. Earnings for this period were €50 million euros in 2014, and €71 million euros in 2013. It appears that Lagardere Publishing paid a total of €89 million for Perseus, recorded […]
Briefs: Emeritus Pope Benedict’s ‘Last Testament’; Rakuten Takes Minority Stake in getAbstract; and More
Forthcoming Bloomsbury will publish Emeritus Pope Benedict‘s Last Testament worldwide in November, in which the retired pope will formally break his silence after being the first Pope to resign from his position in 750 years. Bloomsbury says Pope Benedict will address “controversies and reveals how at his late age, governing and reforming the Papacy and particularly the Vatican, was beyond him” and “admit that he entirely lacked Pope Francis’s common touch with people.” The book is co-written with Peter Seewald and translated by Jacob Phillips. Investments Rakuten announced it has agreed to acquire a “substantial minority stake” in getAbstract, which […]