Archives for November 2022
Harper Union Moves Strike Date; Management Comments
The Harper Collins Union announced that, if it cannot reach an agreement on a contract with management, it would begin striking on Nov. 10 instead of Nov. 7, “because we want to make sure all our employees are able to participate fully in the crucial midterm elections on Tuesday [Nov. 8].” In a memo to staff on Friday, the company commented on the negotiations for the first time. Management says that it has agreed to a number of the union’s proposals, and hopes to reach an agreement. They noted that entry level salaries have gone up 25 percent since the last time […]
Storytel Improves EBITDA Margin, Stock Rebounds
After a brief preliminary report a month ago, Storytel released their full third quarter earnings report on Thursday. As announced in October, sales were up 27 percent to SEK742 million ($70.4 million). Newly reported today, earnings were SEK59.2 million, with “positive cash flow” and a positive EBITDA margin of 7.3 percent, “driven by the strategic shift to focus on profitable growth, the acquisition of Audiobooks.com as well as related restructuring of the organization.” CEO Johannes Larcher underscores that, “Refocusing the company on our home markets in the Nordics and a limited number of other priority markets, with a clear focus […]
The First Decision: Will Paramount Wait for An Appeal of Ruling Blocking Simon & Schuster Sale
There are a lot of thinly-formed hot takes following Judge Florence Pan’s ruling Monday blocking Penguin Random House’s planned acquisition of Simon & Schuster for $2.175 billion, but the WSJ points directly to what is likely the most important next step: Will S&S parent company Paramount Global agree to give Bertelsmann more time to await an appeal, or has the clock run out? The original purchase agreement was executed on November 24, 2020, and the common inference based on vague sources is that the contract had a two-year term. (A couple of people, including the WSJ, have mentioned November 21 […]
December Indie Next List
The ABA announced the December Indie Next List, with The Light Pirate by Lily Brooks-Dalton in the top spot.
People 11/3
Dan Reynolds, Workman svp and publisher, will retire at the end of 2022.