Random House’s US division announced its “intention to make an additional 6,000-plus of its backlist titles available as e-books in the coming months,” adding to the current list of 8,200 electronic titles. They are also further embracing the epub standard, “for the first time…offering its entire current electronic catalogue, as well as future titles” in that format. CEO Markus Dohle says “more people everyday are enjoying reading in the electronic format and Random House wants to extend our reach to them with more of our books.” Random House tells the AP their tiny e-book sales have tripled this year.
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Books-a-Million chief financial officer Douglas Markham, who is a Commander with the United States Navy Reserve, has been recalled to active duty. Controller Brian White will serve as interim cfo during the seven months that Markham is on active duty. In the UK, John Parker is leaving MBA Literary Agents after 30 years to form his own agency along with John Berlyne. Langenscheidt has named Nel Yomtov as executive editor of Hammond, overseing editorial direction of the line, and reporting to Langenscheidt’s chief sales and marketing officer Michele Martin. He will also lead the product and concept development of new […]
Random Freezes Pensions
We were just forwarded an internal announcement that Random House is freezing all pensions at their current levels and will not give pensions to new employees hired as of January 1, and now the news is the subject of an AP story as well. The article notes that “the company will continue to offer matching funds, up to 6 percent, for 401k plans.”AP In another Random House bulletin, their Canadian division has declined to exhibit at the next Book Expo Canada. President and CEO Brad Martin said in an e-mail they “feel the show is no longer effective in helping […]
Lannan Honorees; New Grand Masters
The Lannan Foundation announced its 2008 literary awards and fellowships: Literary AwardAugust Kleinzahler, Poetry Two-Year Literary FellowshipsCharles D’Ambrosio, FictionKatie Ford, PoetryIlya Kaminsky, PoetryGlenn Patterson, Fiction Notable Book AwardsBlack Mass, by John GrayLiving with Darwin, by Philip KitcherDemocracy Incorporated, by Sheldon S. Wolin Site Separately, James Lee Burke and Sue Grafton were both named Grand Masters of the genre by the Mystery Writers of America.
Imprint News
Candlewick Press will launch their first separate imprint, Templar Books, in spring 2009, in partnership with UK-based Templar Publishing. They’ll issue eight books in the spring and “nearly a dozen” in the fall. (Templar produces the bestselling ‘Ology series that Candlewick already publishes in the US.)
BN: Even Worse Than Expected
Barnes & Noble reported sales of $1.1 billion for their third quarter, and a net loss of $18.4 million. Same-store BN store sales of $971 million were down a big 7.4 percent (and fell 4.4 percent overall), while sales at the online unit rose 2 percent, to $109 million. The loss includes a special after-tax impairment charge of $7 million “to reduce the asset carrying value of certain store locations.” The results are below the company’s previous guidance and analysts’ diminished expectations–the operating loss of .21 a share compares to analysts’ prediction of .16 share. BN reduced their fourth quarter […]