About Michael Cader

Michael Cader is the creator of Publishers Lunch and PublishersMarketplace.com
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International: Quarto Sells Hong Kong Services, Storytel Expands

Following the sale of their ANZ Books & Gifts Direct business earlier this year, Quarto is continuing to slim the non-publishing part of their portfolio. They will sell their 75 percent stake in Hong Kong-based Regent Printing Services to 1010 Printing Group for $7 million (which includes $2.5 million for Quarto's share…

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Trade Sales Fall In Down Quarter for Scholastic

Scholastic reported lower sales and a higher seasonal loss for their fiscal third quarter, ending February 28, but the company said it "controlled costs effectively, protecting profits despite reduced sales in clubs." Sales of $336 million were down by 8.2 percent ($30 million), on "lower revenues in book clubs and trade,"…

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Adult Hardcover Shipments Fell In October Ahead of the Election

After rebounding to nearly flat at the end of the third quarter, trade sales as measured by the reporting AAP publishers fell $67.5 million in October, a decline of a 8.8 percent, at $701 million. The primary difference was significantly lower adult hardcover shipments -- reflecting a new release schedule…

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Briefs: Talking Leaves to Close One Store, Norton Expands, and More

Bookselling Buffalo's Talking Leaves Bookstore is closing their Main Street store after 42 years in the University Heights neighborhood and will consolidate inventory in their Elmwood location over the next three months. "Significant changes in book buying habits and in the University of Buffalo neighborhood are major factors in this…

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BN Board Authorizes New Stock Repurchase to Boost Share Price

The Barnes & Noble board has authorized spending up to $50 million to repurchase the retailer's inexpensive shares. While that seems like a modest initiative by most corporate standards, BN stock has been trading near its low point and as of Wednesday, that new authority would have covered roughly 8…

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As Feared, Trump Budget Proposes Eliminating NEA, NEH and More

As feared by many, President Donald Trump's first federal budget plan for fiscal 2018 proposes eliminating at least 19 agencies, including the National Endowment for the Arts, the National Endowment for the Humanities, the Corporation for Public Broadcasting, and even the Institute of Museum and Library Services (which spreads grants to every…

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International: Obamas' French Publisher, New Harlequin Line, and Awards

Hachette Livre's Fayard became the first publisher outside of the Penguin Random House family to announce that it has licensed rights, in France, to the forthcoming books by former president Barack Obama and former first lady Michelle Obama. They also publish Hillary Clinton in French. Harlequin announced the launch of Harlequin…

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Major Fiction Deals Rebound In Otherwise Modest Pre-Fair Activity

In line with our early assessment of dealmaking heading into this year's London Book Fair, now officially underway, even with a busy few days of final reports this year's activity stands at moderate. The biggest (or "major") deals came in just ahead of last year and still well below the…

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California Consumer Sues Audible Over Subscription Terms

A California consumer filed suit in the state's Central District Federal Court against Audible and Amazon, seeking class action status, on behalf of "consumers who find themselves trapped in a shell game." The suit objects to differences between how Audible allegedly advertises its membership program, and how the program works in fact.…

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London Announcements from Storytel, Faber, and More

Sweden's acquisitive Storytel purchased People's Press in Denmark, which publishes about 100 titles a year, as of March 1. They paid approximately $10.7 million. People's Press had 2016 sales of about $14.5 million, and has a backlist of approximately 1,200 titles. Storytel acquired audiobook publisher Kontentan earlier this year, following last year's…

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