At Gotham/Avery, Lindsay Gordon has been promoted to associate director of publicity. Beth Ineson has been appointed to the new role of executive director, book marketing, sales, and operations at Boston Common Press, starting March 3. Most recently she was head of field sales at Houghton Mifflin Harcourt. Ineson will oversee expansion of the marketing and distribution of efforts of the Cook’s Illustrated, America’s Test Kitchen, and Cook’s Country lines of cookbooks. Annie Kelley has returned to Schwartz & Wade Books as senior editor. Previously she was youth editor at Booklist. Simon & Schuster UK will combine its adult and […]
Education
Cengage Announces Plan to Come Out of Bankruptcy
Following mediation by the Southern District’s US Bankruptcy Court, bankrupt Cengage says they have “reached an agreement with the company’s major financial stakeholders and creditors” to emerge from Chapter 11 once approved by the Court. As planned all along, more than $4 billion of their big debt load of $5.8 billion will go away (which still leaves them carrying substantial ongoing debt), and the company has lined up exit financing of between $1.5 billion and $1.75 billion, plus a new revolving credit line of about $250 million. The company hopes to have their plan confirmed by the court in March. […]
Flat World Raises Another $9.5 Million; Blackboard to Sell Textbooks
Over a year ago open source textbook start-up Flat World gave up their free online textbooks — and the company relocated to Washington, DC and went through a quiet period (the company “newsroom” last posted in December 2012 when they hired Christopher Etesse as ceo, taking over from founder Jeff Shelstad). The company recently closed another funding round, receiving an additional $9.5 million from previous backers (led by Bessemer Venture Partners and once again including BDMI and Penguin Random House). Founded in 2007, the company has raised close to $36 million so far. Part of the funding — and their […]