At Tor/Forge, Alexis Nixon has been promoted to publicist and Leah Withers moves up to associate publicist. In addition, Cassie Ammerman, most recently publicist, has been named digital marketing manager for the imprint. At Kids Can Press, Yvette Ghione has been promoted to editorial director and Karen Li moves up to senior editor. In addition, Allison MacLachlan has been named assistant, brands & new business. Barnes & Noble romance buyer Jules Herbert will contribute monthly recommendations and point to store promotions and other offers on Random House’s romance website Romance@Random, the site spearheaded by former Borders romance buyer Sue Grimshaw. […]
Finance
Dimension Fund Advisors Bets on Bookstores, Discloses 5 Percent Stakes in BN and BAMM
Wall Street analysts may hold a dim view of the prospects for bookstores, but that hasn’t stopped Dimension Fund Advisors, an Austin, TX-based hedge fund that manages more than $213 billion in investments, from making a bet on the big chains. On Tuesday DFA disclosed a 5.45 percent stake, or about 3.2 million shares, in Barnes & Noble, as of December 31, 2011, as well as a 5.76 percent stake, or about 911,000 shares, in Books-A-Million. (Barnes & Noble traded higher in late 2011 than it does now; Books-a-Million is up slightly since then.) Bear in mind that these represent […]
UK Conglomerate Acquires Aptara for $150 Million, and More Corporate News
Washington, DC-area-based Aptara has been acquired for an enterprise value of approximately $150 million by iEnergizer Limited, a public conglomerate listed on the London Stock Exchange, with “wide-ranging investments in business process outsourcing, oil and gas, and real estate.” ($5 million of the purchase price will be held in escrow for 12 months.) iEnergizer is funding the acquision primarily through a new $114 million short-term loan facility. As of a year ago (the end of 2010), Aptara had revenues of $66 million and operating profit of $10.1 million. iEnergizer board chair Sara Latham says in the announcement, “As the only […]
Harper’s Nelson Purchase Still Awaits Government Review
Just to update your acquisition closing calendars, we note that the finalization of HarperCollins’ agreement to purchase Thomas Nelson is taking longer than originally projected. When the deal was announced at the end of the October, the parties indicated the deal was “expected to close by the end of the calendar year” while stipulating that it “is subject to regulatory clearances and other customary closing conditions.” All indications are that the delay is due to waiting on government signoff rather than any other deal-related issues. Harper spokesperson Erin Crum indicates, “We are still undergoing the regulatory review period, but we […]
Corporate: Book Printers Edwards Brothers & Malloy Merge; CodeMantra Buys Preparé Inc
Ann Arbor, MI-based book manufacturers Edwards Brothers and Malloy have merged to form the US’s sixth-largest book printer. The new company, now called Edwards Brothers Malloy, has combined sales of $115 million and will have three offset facilities—Edwards Brothers’ plants in Ann Arbor, MI, and Lillington, NC, and Malloy’s operation in Ann Arbor—along with 11 digital print plants in the United States, Canada, and the UK. Edwards Brothers president and ceo John Edwards will be ceo of the merged company, with Malloy president Bill Upton continuing as vp operations and Joe Upton remaining as vp sales and marketing. Edwards said […]
Amazon’s Fourth Quarter Sales Are $800 Million Below Expectations; NA Media Growth Falls to 8 Percent
In recent quarters Amazon’s sales have grown sharply while earnings have diminished as the company invested in increased capacity and growing their Kindle business. At the close of the market Tuesday, the company reported fourth quarter sales that will be viewed as a stumble by Wall Street: Their $17.43 billion in revenue is well below the $18.2 billion analysts were expecting, though in the middle of the company’s broad guidance, up 35.5 percent over a year ago. The stock headed south in after-hours trading on the sales shortfall, down almost 9 percent, and fell further in regular trading this morning, […]