The Frankfurt Book Fair, which employees a robust staff year-round, announced “a restructuring program for its operating company” that will include both layoffs and organizational changes. “It is already clear that the existing structures are to be streamlined, for example by merging departments. This will also involve job cuts,” they said in a statement. The changes follow the cancellation of this year’s live fair, and continuing uncertainty over the effect of the pandemic on future events: “As a result of the COVID-19-related loss of income this year and the uncertain planning perspective, the available restructuring options are currently being examined. […]
Deed Shows Sale Price for Quad’s West Virginia Plant
When Quad sold their two remaining book printing plants to Bertelsmann’s Berryville Graphics on October 31, the details of the sale were not provided. Now the Herald-Mail reports that a deed recording the sale, filed with the County Clerk’s office on Tuesday, indicates that Berryville paid $11.3 million for the facility in Martinsburg, West Virginia. (They also purchased a plant of similar size in Fairfield, PA.) Bertelsmann Printing Group vp John Twomey, indicated that the Martinsburg plant has about 200 employees, as does the facility in Pennsylvania, with employment “down about one-third from pre-COVID-19 levels.” They add, “The major change […]
New Books Publishing This Week
A day late, here is our weekly list with a robust batch of some notable new titles just coming to market: 21 new works of fiction https://bookshop.org/lists/new-fiction-publishing-november-10 18 new nonfiction titles https://bookshop.org/lists/new-nonfiction-publishing-november-10 More new children’s and YA titles (High-profile releases include books by JK Rowling, Joanna Gaines and Ruby Bridges) https://bookshop.org/lists/new-children-s-titles-publishing-in-november We consult a number of sources in compiling our weekly lists and PM members can see our lists for the coming three months through this reference page. But if you want to make sure your key titles are on our radar, now you can use this form to submit brief […]
Macmillan Postpones Office Reopening Until July
Macmillan Publishers said it will not officially reopen their New York City trade publishing offices before July 6, 2021. (Previously, the date was January 11). In the meantime, the company has expanded a voluntary program that allows employees limited access to their work space. They underscore that the program “follows requirements from the CDC and New York City requiring employees to social distance, wear masks, and fill out a health screening form before arriving onsite.” Macmillan Global COO Andrew Weber said, “This is just an example of the many resources that we have created or adapted to better accommodate the […]
European Commission Accuses Amazon of Breaching EU Antitrust Rules
Though months later than expected, the European Commission taken another step forward in their antitrust investigations of Amazon, expressing a “preliminary view that it has breached EU antitrust rules,” set out in a statement of objections. At the same time, the EC opened a second antitrust investigation against the etailer. Building on preliminary fact-finding from over a year ago, the EC charges “the abuse of a dominant market position.” They found that Amazon uses “very large quantities” of proprietary data about Marketplace sellers who use their platform in order to compete with them directly. Which is therefore not competition at all, […]
Houghton Mifflin Harcourt’s Biggest Investor Wants Out
In stark contrast to the company’s official happy talk about selling off their heritage by disposing of the trade division and positioning a struggling textbook publisher as a “pure-play learning technology company,” Houghton Mifflin Harcourt’s biggest investor indicated that they have had enough. Anchore Advisors, the largest shareholder with just under 16 percent of shares, filed a form with the SEC indicating that they want to sell. The investment firm — whose senior portfolio manager Daniel Allen sits on the HMH board — and HMH have terminated an investor rights agreement that dates back to 2012 and “Anchorage has requested […]