Defendant publishers and booksellers in the antitrust lawsuit brought by a group of independent college bookstores filed a motion on April 24 to dismiss all claims. McGraw-Hill, Cengage, and Pearson, along with Barnes & Noble Education and Follett, argue that selling digital Inclusive Access courseware solely through BN Ed and Follett stores isn’t anti-competitive or a “long-running conspiracy,” as the plaintiffs had alleged in their complaint, filed in January. The reality, the publishers maintain, is that they have legitimately increased competition through their digital offerings, and indie bookstores have failed to keep up. Inclusive Access, they say, is “both procompetitive […]
Archives for April 2020
People, Etc.
Mirabelle Korn has been promoted to editor at Chronicle Books. Claire Fallon has been promoted to publicity and operations associate at Coffee House Press, and Enrique Olivarez has joined the company as development director. Bookselling Bay Books in Coronado, CA has reopened in their new space, after the original location nearby was closed at the end of 2019. For now, the store accepts pickup orders from 10 AM to 2 PM and is providing free delivery within Coronado. Relief Stephen King and John Grisham will hold a free online conversation discussing their new books on Wednesday, April 29 at 7:00 […]
Pearson North American Courseware Sales Decline 10 Percent In First Quarter
Pearson gave a first quarter trading update April 24, ahead of its virtual annual meeting today. Sales in the company’s North American courseware and International businesses declined 10 percent, while the assessment business was down 3 percent. Partially offsetting these losses, the Global Online Learning business gained 6 percent in sales due to expanded enrollment and new school openings. Per their earlier warning in March, overall first quarter sales fell by 5 percent, “in line with revised expectations.” Importantly, “We have chosen not to furlough staff and are instead re-deploying people as much as we possibly can around the business […]
Quarto Warns On Pandemic Impact, As Hudson Reports on Sales Declines
Quarto released full results for the year ended December 31, 2019, having already provided preliminary results in late March that showed a very modest profit amidst a steep sales decline in its second half. Adjusted operating profit remained flat, at $10 million. The new report is most notable for the company’s current “downside scenario analysis” trying to estimate “the impact of the Covid-19 outbreak on the Group’s trading and cash flow forecasts,” expecting “a material reduction in the group’s revenues and results for 2020.” So far, “the lockdown measures imposed across the globe have led to falling orders and revenues, […]
Briefs: Vigliano Buys Back Agency, Sales News, Relief Efforts and More
David Vigliano has reacquired the publishing assets from Ron Burkle’s Y Entertainment Group, after selling them his literary agency in 2014. Having operated as AGI Vigliano since then, the agency returns to its original name of Vigliano Associates. Vigliano said in the announcement, “I’m excited to take what I’ve learned and put it to use as I return to operating independently.” Former chairman of Walt Disney International Andy Bird will join Pearson’s board as an independent non-executive director on May 1. Picks Goop recently launched a book club, picking C Pam Zhang‘s HOW MUCH OF THESE HILLS IS GOLD. Sales […]
Vivendi Buys Stake In Lagardere, As Leaders Push Back On Amber Capital Proposal
Vivendi, which owns France’s second largest publisher Editis, has acquired 10.6 percent of Lagardere’s stock. The company says in their release, “This acquisition is a long-term financial investment reflecting Vivendi’s confidence in the future prospects of the French group which enjoys international leadership positions in its businesses and which, like many others, is experiencing difficult times at the moment.” The investment follows a report last week that billionaire Vincent Bollore, Vivendi’s chairman and leading shareholder, was among those buying stakes in Lagardere and planning to support management in their battle with activist hedge fund Amber Capital. Amber has nominated their […]