Publisher and founder of The Monacelli Press Gianfranco Monacelli has led a buyback of the publisher of visual arts, design, and architecture books from Random House, which purchased the unit in early 2008. Terms were not disclosed, but Monacelli will become a sales and distribution client of Random House Publisher Services. Monacelli says in the release that his line’s sales “more than doubled” in the three years it was part of Random House. “As an independent company once again, we look forward to continuing to expand our distinctive and individualized publishing program.” The press’s staff will continue to use the […]
Finance
August 10 Hearing Set for Approval of Auctions for Borders’ Intellectual Property and Leases
Borders has filed proposed plans for multiple auctions of their intellectual property assets and leases, and an omnibus hearing before Judge Martin Glenn has been scheduled for August 10 to rule on those motions and other objections. They want to auction their IP assets on September 14, with bids due September 8, and can sell the assets to one or more buyers. Borders proposes to sell their unexpired leases in two rounds, based on the deadlines for when those leases must be rejected or assumed. The auction for the the first round would be August 31 and the auction for […]
Vague Rumor of Interest in Barnes & Noble from Apple Stirs Market, Briefly
It was a funny (as in odd) day in publishing-related market rumors Thursday. Boy Genius Report “received a tip from an unproven source claiming to have knowledge of discussions within Apple to possibly purchase Barnes & Noble…. It also almost makes too much sense for Apple to do this, said another source of ours, mentioning that Apple doesn’t make moves that appear logical to most outside observers at the time.” Barnes & Noble’s stock jumped 3 percent immediately and then settled back during the day. Funnier (as in ha ha) was the sharp as a truck analyst Brian Marshall at […]
BAMM Picks Up Two More Waldenbooks Outlets
Books-a-Million has agreements with The Cafaro Company–whom we mentioned yesterday–to take over at least two more Waldenbooks locations that are being liquidated. One is in Monroe, MI and one is in St. Clairsville, OH. Both were on that “option” list of additional stores Books-a-Million was looking at when they initially bid for 30 Borders Group locations. So BAMM is now filling all five of the “option” stores, along with two other superstores, all managed by Cafaro. Cafaro spokesperson Joe Bell said the company has eight locations currently occupied by Borders Group and “of these, he said, most will become Books-A-Million […]
Books-A-Million’s Borders Bid Fails, But It Will Still Occupy A Few Spaces
Books-A-Million announced late Monday that their effort to acquire 30 Borders stores “has ended unsuccessfully because the parties could not agree on terms and the going out of business sales at these locations commenced.” CEO Clyde Anderson said in the announcement “we worked exhaustively in an effort to acquire these stores and reach agreements with all of the parties whose consent was necessary. Unfortunately, we were unsuccessful.” BAMM will still take over at least a few vacating Borders locations, apparently through direct negotiations with the landlords. So far, the bookseller has had success with mall owners The Cafaro Company in […]
Corporate News: Macmillan Fined on Africa Contracts Fraud; Nebraska Book Company Bankruptcy Approved
The UK’s Serious Fraud Office fined Macmillan $18.3 million over illegal payments made by its education division to secure contracts in East and West Africa between 2002 and 2009. Macmillan said a report had identified “concerns over receipts from certain contracts” by its Education unit in Rwanda, Uganda and Zambia. The company settled with the World Bank last year over a similar situation in Southern Sudan. “We will not tolerate any form of potentially unlawful behavior,” Macmillan ceo Annette Thomas said in a statement. “Fortunately, it has been established that these issues were confined to a limited part of our […]