Per our previous reports, the stalking horse bid from liquidators Hilco and Gordon Brothers has prevailed, and it appears that no other offers were made at Wednesday’s scheduled auction. While the plan requires final acceptance by the Bankruptcy Court on Friday, complete documents for a “notice of successful bidder and agency agreement” were filed last night. Once approved, the liquidation sale will begin immediately, and continue through October 31 at the latest, with all Hastings stores to be closed. (Locations can be closed earlier than that on a store-by-store basis, with seven days notice to the employees.) As we indicated […]
Archives for July 2016
People
President of Brazil’s Grupo Editorial Record Sérgio Machado, 68, died on Wednesday of complications from surgery last November, Publish news reports. He ran the publisher since 1991, following the death of his father, Alfredo Machado. His sister and partner Sonia Machado Jardim takes over as president of the company. Two of his daughters work at the publisher: Roberta Machado and Rafaella Machado. Quarto announced recent leadership changes: Ken Fund has been promoted to chief operating officer of the Quarto Group, moving up from president and ceo of Quarto USA. David Breuer moves up to chief creative officer; and David Inman, currently managing director of the UK […]
Stephenie Meyer Thriller Announced for November; Candlewick Adds Rowling Film Tie-Ins
Little, Brown announced the world English publication on November 15, 2016 of Stephenie Meyer’s THE CHEMIST. Meyer writes in the release: “THE CHEMIST is the love child created from the union of my romantic sensibilities and my obsession with Jason Bourne/Aaron Cross. I very much enjoyed spending time with a different kind of action hero, one whose primary weapon isn’t a gun or a knife or bulging muscles, but rather her brain.” It’s her second book for adults, after the 2008 release, The Host. Candlewick Press has sublicensed rights to publish “a significant program of interactive children’s tie-in books” to the […]
People, Etc.
At Franklin & Siegal Associates, Danny Yanez has been promoted to director of adult scouting. In addition, both Nicole Sohl and Joshua LaMorey have joined as literary scouts. Sohl was most recently associate editor at Thomas Dunne Books and Macmillan Entertainment, while LaMorey was previously a literary scout at Barbara Tolley & Associates. Zaneta Jung has joined Chronicle Books as assistant editor. Previously she was an assistant editor, children’s books at Sterling. Politics & Prose has promoted Liz Hottel to director of events, succeeding Susan Coll, who is taking a leave of absence to focus on other projects. In addition, […]
Liquidators Approved As Hastings Stalking Horse Bidder
At a hearing on Monday afternoon, a Delaware Bankruptcy Court judge approved the stalking horse bid for the inventory of Hastings Entertainment from liquidators Gordon Brothers and Hilco that we reported on last Friday. Per that earlier report, the bid “provides for a guaranteed payment of 75 percent of the cost of the debtors’ inventory which is based on in excess of $110 million of inventory and should provide more than $82 million in proceeds.” The bidders were granted the bid protections that they sought from the court, including fees and expenses if their offer does not prevail, along with a requirement that any […]
Random House Studio Taken Over By Bertelsmann’s FremantleMedia
Random House Studio, the eleven-year-old film and television group operated by Penguin Random House, has been “acquired by” and transferred over to FremantleMedia North America, part of PRH parent company Bertelsmann’s RTL division. In turn, FMNA has entered into a partnership with Meridian Entertainment, a China-based global content developer that will “work with FMNA and Random House Studio to finance and produce theatrical film projects.” FNMA adds that Meridian “will operate and grow the studio’s theatrical slate.” Meridian chairman Jennifer Dong adds in an announcement, “Meridian has the determination, strength and ability to make full use of the rich and varied […]