As expected, Houghton Mifflin Harcourt Books & Media will be acquired by News Corp for $349 million in cash and operated as part of HarperCollins. The deal is expected to close in the second quarter, “subject to customary closing conditions, including regulatory approvals.” The announcement indicates that HarperCollins “expects to realize immediate cost savings, accumulating to more than $20 million annually within two years, including manufacturing, distribution and other cost efficiencies. HarperCollins also anticipates revenue synergies by leveraging its global scale and further expanding licensing opportunities.” HMH Books & Media had sales of $192 million in 2020, with net income of […]
Archives for March 2021
People, Etc.
Christine Palomino has been promoted to director, specialty retail field & category sales, Penguin Random House. At St. Martin’s Publishing Group: Danielle Fiorella has been promoted to art director; Young Lim to senior associate art director; and Jonathan Bush to senior associate art director. A memorial service for literary agent Frances Goldin will be held on Saturday, May 15, 2:00 PM at St. Mark’s Church in New York City (131 E 10th St.) with indoor and outdoor seating planned. The event will also be livestreamed. Anyone wishing to share a testimonial for Frances can submit a video of under two […]
National Book Critics Circle Award Winners: O’Farrell, Leilani, Hong and More
The National Book Critics Circle Awards announced winners on Thursday evening: Fiction: Hamnet, by Maggie O’Farrell (Knopf) Nonfiction: Island on Fire, by Tom Zoellner (Harvard Univ. Press) First Book: Luster, by Raven Leilani (Farrar, Straus and Giroux) Biography: Stranger in the Shogun’s City, by Amy Stanley (Scribner) Autobiography: Minor Feelings, by Cathy Park Hong (One World) Poetry: Here Is the Sweet Hand, by francine j. harris (Farrar, Straus and Giroux) Criticism: Marking Time, by Nicole R. Fleetwood (Harvard Univ. Press) Previously announced were Jo Livingstone, winner the 2020 Nona Balakian Citation for Excellence in Reviewing, and The Feminist Press at the […]
Poets & Writers Gala: Stacey Abrams, Oprah, and More
At the Poets & Writers gala on Thursday evening, author and political organizer Stacey Abrams hosted, highlighting the importance of writing and storytelling “in a time of isolation and disruption.” Of her dual careers in writing and politics, she said “The principles that undergird these facets of my life are identical,” and include “creating space for those who often don’t see themselves reflected in our narrative.” The centerpiece of the evening was an appearance by Oprah Winfrey, who was honored with the 2020 Leadership Award for “an individual who has transformed and enlivened the field.” (Last year’s event, at which […]
Class-Action Law Firm Tries Suing Amazon and Publishers Over the Site’s Dominance In Online Bookselling
Hagens Berman (joined by another firm, Sperling & Slater) filed a second lawsuit in the Southern District of New York against Amazon and the five largest trade publishers, this time seeking class-action status on behalf of booksellers, alleging that Amazon has monopolized the online book market and that somehow the big publishers colluded to ensure that Amazon beats them up on terms, all for the sake of controlling their wholesale prices (which they are allowed to do). In January, Hagens Berman had sued Amazon — and then the five largest trade publishers — over Amazon’s monopoly control of the ebook […]
New Editor PSA: Israel on Instagram Live
Recently-hired Simon & Schuster senior editor Yahdon Israel addressed prospective authors directly on Instagram Live Wednesday afternoon (recorded here), “Letting you know who I am and what I really do.” As he noted, his first wave of submissions “operated in a framework of how publishing has existed. In other words, you are pitching me imagining me to be someone that represents the establishment in a way that doesn’t align with who I really am.” Broadly, Israel advised, “I want to work with the writers who understand the communities that are going to be impacted because your work is in the […]