Members of the Scholastic Union, which is represented by the NewsGuild of New York, participated in a one-day work stoppage on Wednesday. According to a press release, they are protesting “the company’s refusal to pay its workers fair wages, specifically its rejection of the Scholastic Union’s proposal for annual raises.” The union’s contract expired in May 2022, and the NewsGuild reports that employees have been bargaining since last October. The union, which represents 82 employees, held an afternoon rally outside of the company’s New York City headquarters.
Vivendi’s Sale of Editis Approved
The European Commission has approved Vivendi’s sale of French-language book publisher Editis to Czech Media Invest (CMI), owned by Czech billionaire Daniel Kretinsky. Through equity firm Vesa, Kretinsky also owns a 25.03 percent portion of French book retailer Fnac Darty. The Commission decided that, since Kretinsky’s minority stake does not allow him to control Fnac Darty, the purchase of Editis would not lead to any competition issues between the retailer and Editis. Now that Editis is spun off, the EU will likely approve Vivendi’s purchase of Lagardere.
New Books Publishing October 31
Janet Evanovich and Alice McDermott publish new novels this week, while nonfiction includes work by Henry Winkler and Willie Nelson. Also out this week is BLOOD SISTERS by Vanessa Lillie, excerpted in our Buzz Books 2023: Fall/Winter anthology. 9 works of fiction https://bookshop.org/lists/new-fiction-publishing-october-31 9 works of nonfiction https://bookshop.org/lists/new-nonfiction-publishing-october-31 From Buzz Books https://buzz.publishersmarketplace.com/ We consult a number of sources in compiling our weekly lists and PM members can see our lists for the coming months on Bookshop. Check out November’s 70 fiction releases; 54 works of nonfiction; and 29 notable children’s titles, plus December’s […]
Storytel Makes An Operating Profit
Swedish audiobook distributor Storytel released results for the third quarter ended September 30, with sales of SEK 842.4 million ($77.9 million), up 13 percent over last year. For the first time since 2016, the company made an operating profit—of SEK 15 million—driven largely by growth in the Nordic streaming business. EBITDA was up 55 percent to SEK 92 million, which the company attributes to “cost efficiency measures.” In Nordic countries, streaming sales were SEK 571.6 million, up from SEK 492.8 million last year. In non-Nordic territories, sales were SEK 270.8 million, up from SEK 249.7 million. Print publishing sales were […]
Pearson Higher Ed Sales Fall, As Expected
Pearson announced a brief trading update for the third quarter, with overall sales up 2 percent (3 percent excluding OPM and businesses under strategic review). The Higher Education division, however, fell 8 percent, “driven by pricing mix impact” and the “deferral of revenue into Q4 this year” as the company’s digital platforms and Pearson+ continue to grow. Elsewhere in the company, Assessment & Qualification sales grew 11 percent, English Language Learning grew 21 percent, and Workforce Skills was up 3 percent. Virtual Learning sales were down 29 percent in the quarter. “This third quarter performance illustrates the continuing momentum across […]