HMV, the UK retailer that oversaw the near-death of Waterstones before selling the book chain in 2011 — and then went through two bankruptcy reorganizations — is now reported by the Sun to be “in discussions” about purchasing WH Smith’s high street stores. HMV is now owned by Doug Putman, a Canadian entrepreneur. Restructuring firms Hilco and Alteri and PE firm Modella Capital are also considered as likely bidders. The paper says, “The retail group has been in negotiations with several prospective buyers of the high street division for several weeks.” The Telegraph notes that “analysts have suggested the business, […]
Hachette Book Group Slashes Union Square Staff
Just two months after acquiring Union Square and Co. from Barnes & Noble, Hachette Book Group has notified the unit’s staff that it will eliminate a substantial number of positions. HBG employees report and believe the layoffs to affect approximately 60 jobs, or roughly half of the Union Square personnel. The company tells PL, “We do not disclose personnel information; however, it is inaccurate and false that 60 employees are being let go. Additionally, some of the impacted employees have been offered other roles within the company and are working with human resources to remain at Hachette Book Group.” When the acquisition […]
Dark Horse Becomes the First Publisher to Drop Neil Gaiman
Dark Horse announced on social media on Friday that it “takes seriously the allegations against Neil Gaiman and we are no longer publishing his works.” They are the first of Gaiman’s publishers to publicly acknowledge those allegations and cancel or remove work under contract as a result. The publisher said it was, “Confirming that the Anansi Boys comic series and collected volume have been cancelled.” They had published seven of a planned eight installments in the comic book series. The writer of the series Marc Bernardin said on Instagram recently, “Last Wednesday, issue 7 of Anansi Boys hit the stands. […]
Under the New Administration, DOE Says There Are No Book Bans In Schools
The Department of Education’s Office for Civil Rights has quickly dropped 11 complaints “related to so-called ‘book bans'” and “rescinded all department guidance issued under the theory that a school district’s removal of age-inappropriate books from its libraries may violate civil rights laws.” Additionally, the OCR “will no longer employ a ‘book ban coordinator’ to investigate local school districts and parents working to protect students from obscene content.” The release claims it is overturning a “book ban hoax.” Acting Assistant Secretary for Civil Rights Craig Trainor says in the announcement that “the department is beginning the process of restoring the […]
Bertelsmann Employees Will Use ChatGPT Enterprise, Help AI Company In “Distributing” Content
Bertelsmann announced a “strategic collaboration” with OpenAI, a major feature of which seems to a corporate-wide license of ChatGPT Enterprise for its employees, who will use the product “to increase the efficiency of existing processes in the daily workflow.” Additionally, “experts and creatives from the group’s content businesses will work with OpenAI to develop new ways of creating and distributing video, audio, and text content.” Among the sample projects cited in the release, “In marketing, AI will facilitate processes, e.g. with personalized book recommendations on social media at Penguin Random House,” and “at RTL Deutschland, journalists will be supported by […]
2024 Print Sales, For the Record
Circana Bookscan issued a brief statement on 2024 print sales, with total units growing a rounded 1 percent in 2024, to 783 million units overall (up 5 million units from 2023). Note that for much financial reporting 2024 is a 53 week year — but for sales comparison purposes, Bookscan has adjusted to count only 52 sales weeks from 2024. (When publishers issue public reports, they will show 53-week years, with appropriate sales bumps for the extra week.) Adult fiction led the market, growing 9.5 million units to 201 million books, while adult nonfiction fell by 1.1 million units to […]