Todd Noden has been promoted to president at Books-a-Million. He was chief operating officer and chief financial officer, and now he adds leadership of the company’s store operations group to his other responsibilities. James Meader left his position as vp, associate publisher at Picador last week and will join Vintage Anchor on December 16 as executive director of publicity and social media, reporting to Suzanne Herz. Register of Copyrights Karyn Temple will leave her position on January 3 to join the Motion Picture Association of America as global general counsel. At Scholastic Trade, Zachary Clark becomes senior editor. Rachel Matson […]
M&A
Yet Again, Springer Nature Said to Hope for An IPO
The various private equity companies that have traded educational publisher Springer for more than a decade now have hoped for an offering of shares to the public since at least 2012 if not earlier, both to help pay down a persistent debt load and to provide a pathway to an exit. The current incarnation of the company, the Springer Nature joint venture, came close to pulling it off in 2018 — but the offering on the Frankfurt Stock Exchange fell apart at the last minute. At first they reduced the share price and had 53-percent partner Holtzbrinck step in to […]
Not a Good Quarter for Cengage
Educational publisher Cengage — hoping to merge soon with McGraw-Hill if the DOJ approves the plan — continues to struggle while waiting, with revenue falling $63.9 million, down to $410.4 million, in the fiscal second quarter, ending September 30. Net income was $11.5 million, down from $34.4 million. After adjusting for currency exchange, income was even lower, down to $6.5 million from $32.7 million. The company started yet another restructuring during the quarter, “in its Learning segment to streamline operations,” which it says will allow it to make good on its full-year profit forecast. This follows an earlier, now “fully […]
Penguin Children’s Acquires Eric Carle’s Rights
Penguin Children’s announced on Tuesday that as of January 1, 2020 it will acquire Eric Carle LLC, which owns the intellectual property rights to the author and illustrator’s over 70 children’s books, as well as his licensing business. Carle, 90, has sold over 145 million copies of his books worldwide by their report (including more than 50 million copies of The Very Hungry Caterpillar alone). The acquisition was made by Penguin Random House US ceo Madeline McIntosh and Penguin Children’s president Jen Loja, and starting in January business operations for what has previously been the Eric Carle Studio will be […]
Corporate: Pearson Buys EdTech Company, Sourcebooks Brings Back Holiday Shipping
Pearson announced the acquisition of edtech company Lumerit Education, which focuses on college degree completion and affordability, valuing the company at $29 million. Lumerit’s 70 employees will become part of Pearson’s Online Learning Services business. Separately, Sourcebooks will resume their holiday rapid replenishment program again for independent bookstores. The program starts November 4 and continues through December 19.
People, Etc.
Sean deLone has been promoted to assistant editor at Atria. At Abrams, Trish McNamara O’Neill has been promoted to senior manager, digital & social media marketing, children’s books. Claire McLaughlin has joined Flatiron Books as publicist. She was previously an associate publicist at Little Bird Publicity. Jordan Hanley has moved over to Nightfire as marketing manager. She was at St. Martin’s. Forthcoming Former Acting Solicitor General Neal Katyal (with Sam Koppelman)’s IMPEACH: The Case Against Donald Trump will be published by Houghton Mifflin Harcourt in trade paperback on November 26. “If we don’t impeach President Trump, then we will live […]