After renewed controversy around prosector-turned-mystery novelist Linda Fairstein following the release of a Netflix series about the Central Park Five, When They See Us, her longtime publisher Dutton said Friday the two parties “decided to terminate their relationship.” A “person with knowledge of the situation” tells the NYT that Dutton is buying out her contract. It’s unclear what, if anything, is happening with Fairstein’s 14-title backlist at Dutton, and the publisher declines to explain what their brief statement actually mens. Her first five books were published by Scribner. Former ceo of Hachette UK Tim Hely Hutchinson was awarded a CBE […]
Archives for June 2019
Penguin Random House Buys Again, Acquiring F+W Books
Penguin Random House has been selected as the winning bidder in the bankruptcy sale of the book publishing assets of F+W Books. The bid is expected to receive approval from the bankruptcy court on June 10, in which case the sale should close before the end of June. The books division had sales of approximately $22 million in 2018 (80 percent in the US, and 20 percent in the UK). The F+W backlist comprises over 2,000 titles, across imprints including Family Tree, IMPACT, Interweave, Krause Publications, North Light Books, Popular Woodworking, The Quilting Company, and Writer’s Digest. PRH says the […]
Industry Considers POD as Offset Capacity Shrinks
The Book Industry Study Group held a two-hour panel June 6 on “The Potential for On-Demand Printing,” moderated by Ken Fultz, recently retired from his role as general manager at Ohio-based Bookmasters. Contributing were Andrea Fleck-Nisbet (Ingram Content Group), Dane Neller (On Demand Books), Michelle Weir (Hewlett Packard), and Rich Dzurus (Canon). Approximately 30 printing, publishing, and paper professionals were in the audience. The panel was an enthusiastic sales pitch for POD, but one worth listening to. As one might expect, much of the conversation turned on the shortage in offset printing capacity that has been felt across the industry, […]
Briefs
Boston Globe books editor Paul Makishima has left the newspaper. Barack Obama and Michelle Obama have another production deal; under this one, their production company Higher Ground will “develop and produce podcasts” exclusive to Spotify. The Obamas “are expected to participate in at least some of the podcasts, which “could potentially mean hosting, narrating or interview roles.” Entertainment Weekly, which has continued to provide substantive coverage of books and authors, will become a monthly publication as of August. New editor-in-chief JD Heyman insists in the press release, despite all reason, that “With the transition to a new monthly frequency, readers […]
Now Official: Elliott Advisors to Buy Barnes & Noble, Daunt to Become CEO
Following quickly on a WSJ advance report Thursday that was slightly off, “funds advised by” Elliott Advisors in the UK have an agreement to buy Barnes & Noble for a modest $6.50 a share. That’s about $476 million to purchase the shares outstanding, plus the assumption of long-term debt makes the cash purchase “valued at” approximately $683 million. Barnes & Noble shares are trading at about $6.60 in the first hour — perhaps accounting for the quarterly 15 cent dividend they still get to pay out before the deal closes, though also possibly indicating an expectation from some investors for […]
Elliott Management Called “Lead Bidder” In Coming Barnes & Noble Sale
The industry was been waiting eagerly and nervously for the conclusion of Barnes & Noble’s long-running exploration of a sale of the company. On Thursday the WSJ reported that hedge fund Elliott Management is the “lead bidder in an auction that could come to a head soon.” Or not. “The talks could still fall apart and a deal—with Elliott or any of the other bidders that have been circling the company—isn’t guaranteed.” Note that Barnes & Noble is due to report fiscal fourth quarter and full year earnings around June 20, so the expectation has been that the company would […]