At the American Booksellers Association, Gen de Botton has joined the organization in the new position of program and development coordinator, supporting all publisher-related programs and initiatives. She worked at Borders and then the children’s bookstore Little Joe’s in Katonah, NY. Additionally, Teresa Pereira Neufeld has joined ABA as a part-time graphic designer. Emi Battaglia has launched Emi Battaglia Public Relations, “a full service publicity, marketing and literary consultation firm.” Most recently she was recently director of marketing and publicity at Regan Arts. Scholastic Education announced “three key appointments to leadership” as they expand to serve Learning Supports and Family and Community Engagement (FACE) programs nationwide. Joining the company are […]
Finance
Books-A-Million Proxy Shows Andersons Rejected A Higher Outside Bid
Books-a-Million has filed a preliminary proxy statement with the SEC in advance of a special shareholders’ meeting to vote on the Anderson family’s offer to buy out the stock they do not own for $3.25 a share (valuing the entire company at $50 million). A date for the meeting has not been set yet. The filing provides the first comprehensive and honest look at a company that has been in play at least since 2011 and also explains why there have been just a few potential buyers over the years. (Something like 40 percent of the company’s value is attributed to […]
People, Etc.
At the Andrea Brown Literary Agency, Jennifer Rofe has been promoted to senior agent. Marissa Litak has joined Sourcebooks as an assistant publicist. Previously, she was editorial assistant at Rhetoric Society Quarterly. The new issue of Poets & Writers magazine has Michael Szczerban interviewing at length 37 Ink founder Dawn Davis: “The truth is, we spend so much of our time advocating internally for our books, making sure we have the right cover, the right subtitle, filling out forms and so forth, that we often don’t have time to be entrepreneurial. But when a moment of clarity comes, it’s fun to pursue […]
“Core” Harper Ends Fourth Quarter and Fiscal Year Down Slightly, News Corp. Takes Big Charge on Amplify
News Corp. reported results for their fourth quarter and full fiscal year, ending June 30, on Wednesday after the close of the market. HarperCollins had sales of $390 million, up 8 percent from $361 million a year ago and EBITDA of $33 million in the fourth quarter, flat compared to the same period last year. But in “adjusted” sales, leaving aside Harlequin’s results, Harper sales fell 9 percent in the final quarter, down $33 million to $328 million, and EBITDA fell 18 percent, down $6 million, to $27 million. Harlequin added $73 million in sales for the quarter, and foreign exchange provided […]
Briefs: Pearson Sells The Economist, Too; GIRL ON THE TRAIN US Sales Reach 3 Million; and More
Following the recent sale of the Financial Times to Nikkei, Pearson has now sold its 50 percent stake in The Economist Group as well, for £469 million (or $731 million). Three-fifths of their stake (or a 30 percent share in the Economist) goes to Exor, the holding company for minority shareholder Agnelli, while the remaining portion (a 20 percent share) has been bought back by the Economist Group itself, funded by the sale of their headquarters, the Economist Complex, which has been the editorial team’s home for more than five decades. Pearson noted the “proposed changes will be put to a shareholder vote next month […]
Family Christian Bankruptcy Reorganization Is Approved
As expected, the revised, final and only viable reorganization plan for the bankrupt and ever-diminishing Family Christian Stores was approved by Bankruptcy Court Judge John Gregg. Per the proposal that was sent to creditors for their approval a month ago, FCS Acquisition is paying between $52.4 million and $55.7 million to acquire the chain, backed by Atlanta businessman Richard Jackson. CEO Chuck Bengochea says he expects they will close a modest 12 to 14 stores from across the 266-store chain. Bengochea credits divine intervention — “We have a sovereign God who has a plan for Family Christian” — rather than the good […]