With sales still below pre-pandemic levels, Powell’s Books secured a $4.5 million loan from Pacific West Bank, the Portland Business Journal reports. The loan is backed by the store’s warehouse, which held a sale last week that drew thousands of shoppers, and the borrowers are listed as Powell Family Real Estate Co. LLC and Powell’s Books Inc. “The loan was secured to infuse cash into the business,” store owner Emily Powell said. “It’s a reflection of our commitment to the business and our dedication to our customers.” The store is revamping its website and e-commerce platform, slated to go live […]
Archives for June 2024
Imprints: JVL to Collaborate with Amistad
Start-up JVL Media, founded by Viola Davis, Julius Tennon and Lavaille Lavette, will “join forces” with the Harper One Group to publish in association with the Amistad imprint. They anticipate publishing their first releases together in 2025. Harper One president and publisher Judith Curr says in the announcement, “Together, we aim to amplify authentic voices and untold stories that will resonate deeply with readers.” Tennon notes, “JVL Media transcends traditional publishing. We’re nurturing a literary culture that echoes the soul of our society and propels us into the future with stories that matter.”
Academic Publishers Sue Google Over Advertising of Pirated Textbooks
Cengage, Macmillan Learning, McGraw Hill, and Elsevier filed a lawsuit against Google on Wednesday in the US District Court for the Southern District of New York, alleging that the search engine prioritizes pirated textbooks through “systemic and pervasive advertising” instead of legitimate e-versions. The lawsuit states that the companies have been filing copyright infringement notices with Google since 2021, but that their efforts have been ignored. They allege that the search engine is profiting off the ads for the pirated books, while rejecting ebook ads for “legitimate sellers.” “Google has continued to advertise infringing works while simultaneously restricting ads for authentic educational works—supporting […]
Forthcoming: New Hunger Games Novel
Scholastic announced that they will publish SUNRISE ON THE REAPING, a new Hunger Games novel by Suzanne Collins, on March 18, 2025. The fifth book in the series, it is set 24 years before the events of The Hunger Games. The book will be published simultaneously by Scholastic in the US, Canada, the UK and Ireland, Australia, and New Zealand. Rosemary Stimola of the Stimola Literary Studio represented Collins, selling to David Levithan, vp, publisher and editorial director at Scholastic.
Little, Brown Lays Off Staff
Little, Brown’s new president and publisher Sally Kim laid off seven employees in a restructuring on Wednesday. Departures from editorial include executive editors Tracy Sherrod and Ben George, plus senior editors Jean Garnett and Pronoy Sarkar, and the cuts also included vp, deputy publisher Craig Young and another longtime executive. Young will depart on Friday, June 14. A spokesperson confirmed the layoffs and indicated that the restructure is about serving readers better rather than cutting costs, noting that the imprint plans to hire new roles. Kim took over as head of Little, Brown in March, replacing Bruce Nichols. Editor-in-chief Judy Clain had […]
Costco to Stop Carrying Books Year Round
Costco recently informed publishers that it will stop carrying books on a year-round basis in its stores. This comes after they stopped carrying books in Hawaii and Alaska as of late 2022, and after their renowned book buyer Pennie Clark Ianniciello left company in 2021. The NYT reports based on conversations with publishers, “Beginning in January 2025, the company will stop stocking books regularly, and will instead sell them only during the holiday shopping period, from September through December. During the rest of the year, some books may be sold at Costco stores from time to time, but not in […]