The Internet Archive has filed a brief in their appeal of the US District Court’s ruling in favor of publishers, which found clear, unequivocal and overwhelming finding that the IA’s “controlled digital lending” amounted to “wholesale copying and unauthorized lending.” The basis of their argument to overturn Judge John Koeltl’s ruling is nothing more than that he misunderstood and was entirely wrong on his fair use analysis, which was was deeply rooted in Second Circuit precedent, including multiple cases already adjudicated by the Second Circuit of Appeals. They also maintain that CDL does not harm publishers. As always, the IA’s […]
Archives for December 2023
Buchreport For Sale As Publisher Files for Bankruptcy
Harenberg, the publisher of German trade magazine Buchreport, has filed for bankruptcy and is putting the magazine up for sale. On Tuesday, the Buchreport itself reported that the publisher has already been in talks with potential buyers, and that “business operations will continue until further notice.” Harenberg also compiles the bestseller list that appears in Germany’s premier news magazine Der Spiegel. Buchreport notes that Harenberg is “directly and indirectly affected by the imbalance of the entire Busch Glatz Group,” the media company that owns Harenberg and is run by Timo Busch. Many of the organization’s other brands are also filing […]
Scholastic Adjusts Outlook After Lower Sales in Q2
Scholastic released its second quarter earnings report for the period ended November 30, with results lower than expected for a historically strong quarter at the beginning of the school year. Sales were down 4 percent to $562.6 million, due to “reduced, more targeted promotional spending and the elimination of unprofitable orders in Book Clubs, as the channel is repositioned to a smaller, more profitable core.” Adjusted EBITDA was $124 million, up from $122.3 million, again due to lower promotional spending, as well as better supply chain costs. Operating income was just about flat at $101.3 million. Trade book sales were […]
People 12/14
Malaviya Acknowledges “Changes” in Year-End Letter
In a year-end letter to staff, Penguin Random House CEO Nihar Malaviya notes the challenges and successes the company had in 2023. “We have made significant changes, all to better position ourselves for the future,” he writes. “Many of these were exciting, but I also want to acknowledge that several others have been very difficult and challenging.” Though the memo is light on details, he notes the blockbuster publication of SPARE and expanding the company’s audio list as highlights. He continues, “We have sold more books this year than last year, our overall revenues are higher, and we have gained […]