Kathy Belden has been promoted to editorial director at Scribner, announced by editor-in-chief Colin Harrison and publisher Nan Graham: “Kathy’s books and authors have transformed the Scribner list…. This is a reflection of Kathy’s exceptional contributions to the imprint — her advocacy for the books edited by her colleagues; her mentorship of younger staff and counsel to older; her work to make systems better serve our staff and authors; her commitment and leadership in all matters DEI; her nourishing of the community — even and especially now that we are physically apart; her wisdom and grace, generosity and humor.” Rebecca […]
Archives for October 2020
Parneros and Barnes & Noble Settle, Ending Two Years of Litigation
Barnes & Noble and its former CEO Demos Parneros have finally agreed to settle Parneros’ breach of contract lawsuit, filed over two years ago, shortly after he was fired. The move comes just days before the scheduled pre-trial conference. An October 23 letter to the court from BN counsel Jay Cohen was filed October 26, asking the judge to dismiss all remaining claims and counterclaims with prejudice. Each party will bear its own costs and fees, but any other settlement terms — in particular, how much Parneros might be paid from his original claim for severance due of $4 million […]
Booktopia Sets IPO for December 3
The Australian online bookseller Booktopia announced terms for a planned December 3 listing on the ASX exchange, with an aim to raise $25 million in proceeds from new shares. Existing investors plan a selldown of shares that would make another $18 million of stock available. At the current projected price, the company would have a market capitalization of $315 million. (Previously reported fiscal 2020 sales were $165 million, with EBITDA of $6 million. At publication, PL had not seen the official term sheet.) The company intends to use the cash to expand their distribution center and repay debt, as well […]
Instead of Book Club Pick, Oprah Chooses Seven Favorite “Books That Help Me Through”
Oprah’s Book Club announced that its next pick is not a single title, but rather a collection of “seven meaningful books that explore timely topics and help readers navigate challenging times.” The seven titles are: The Power of Now, by Eckhart Tolle The Soul of America, by Jon Meacham Devotions, by Mary Oliver The Fire Next Time, by James Baldwin Between the World and Me, by Ta-Nehisi Coates Song of Solomon, by Toni Morrison When the Light of the World Was Subdued, Our Songs Came Through, edited by Joy Harjo Winfrey said, “Instead of announcing one new Oprah’s Book Club selection this month, I’ll be spotlighting […]
Briefs
Excerpted Former president Barack Obama’s forthcoming book is excerpted in The New Yorker. David Remnick writes that “the second volume will come when it comes.” People At Open Road, Mary McAveney adds chief revenue officer to her chief marketing officer role, and Daniel Shemesh adds chief operating officer his role of chief financial officer. Initiatives The National Book Critics Circle‘s board voted to create and share a Criticism Equity Pledge, in addition to its anti-racism pledge, which was released on June 11 and causes a controversy resulting in mass board resignations. They wrote on Twitter, “A majority of the board’s […]
The Strand’s Revenues Are Down “Nearly 70 Percent”
Owner of the the Strand Book Store Nancy Bass wrote to customers asking for support to sustain and save the business: “The Strand’s revenue has dropped nearly 70 percent compared to last year…. Because of the impact of Covid-19, we cannot survive the huge decline in foot traffic, a near-complete loss of tourism, and zero in-store events.” Bass says, “The next few months will determine the future of The Strand.” The store did receive a PPP loan, reported by their union to be over $1 million. Bass says that loan and their cash reserves “allowed us to weather the past […]