CBS reported fourth quarter and full-year earnings on Thursday afternoon, with Simon & Schuster registering strong sales of $235 million in the final quarter, up $26 million from a year ago (helped in part by the addition of Adams Media, acquired in November 2016). Operating income was $44 million, up from $36 million at the end of 2016. For the full year, sales of $830 million were $63 million higher than a year ago, and operating income hit a new record of $132 million, up $13 million from a year ago. S&S had paid approximately $42 million to purchase Adams Media, […]
Archives for February 2018
Correction: Abrams Exited Barnes & Noble By Last Fall
Thursday morning’s report on investor David Abrams at Abrams Capital’s sale of his remaining shares in Barnes & Noble was incorrect. While the 13D filing did confirm his investment companies no longer hold BKS shares and was filed on February 14, those shares were actually sold some time prior to September 30, 2017. A separate SEC form 13F filing from November 2017 disclosed by omission that some time between the second quarter and third quarter of 2017, Abrams sold all of his shares in Barnes & Noble.
Abrams Exits Barnes & Noble, Former Employees Lament Layoffs Online
Barnes & Noble received another vote of no confidence from long-term investors David Abrams at Abrams Capital. After holding approximately 5.9 million shares of the bookseller’s stock, the investor revealed in an SEC filing that as of February 14, that entire stake has been sold. As we have noted, Barnes & Noble’s stock has declined significantly since the poor holiday sales report in January, down over 31 percent so far in 2018 and trading near all-time lows. The last time Abrams sold BN stock in April 2017, he sold 4.5 million shares at $8.575 a share. Now the stock is […]
Asher Admits Sex, Denies Harassment
Author Jay Asher responded further to remarks from SCBWI executive director Lin Oliver on Wednesday through a statement provided by Tammy Taylor at Sitrick and Company, a strategic communications firm whose specialties include reputation and crisis management. In the statement, Asher admits to having had relationships with “many” women connected in some way to the SCBWI, noting “Asher was married at the time of these relationships, as were many of the women.” Taylor says that seven anonymous women had sent a letter to SCBWI in April 2017 about Asher. “He is deeply sorry for the pain these consensual decisions caused his […]
People, Etc.
The University of New Mexico Press will become a part of the College of University Libraries and Learning Sciences starting March 1, as part of a university reorganization. The $7 million debt owed by UNM Press to the university will be disposed of, though the university has not yet determined how. Interim provost and executive vice president for academic affairs, Richard Wood said, “UNM Press was at risk of closure,” adding of the debt, “we’ll have to absorb it into the budget somehow.” The press doesn’t plan any editorial changes, but distribution will be outsourced to a third party and the south campus […]
People, Etc.
At Scholastic Trade, Julia Romero has been promoted to director of sales for Klutz and Courtney DeVerges has been promoted to sales representative for Klutz. Erika Turner has joined Houghton Mifflin Harcourt’s new children’s imprint Versify as editorial project manager. Previously she was managing editor of the Vera Institute of Justice. Emily Bamford has been promoted to publicist at Random House Children’s.