Germany’s largest bookstore chain Thalia is facing the same challenges as major booksellers in English-speaking countries, with parent company Dougles reducing their forecast EBITDA for the current fiscal year by a range of 15 to 30 percent, driving shares down sharply. The company warned that they will incur unspecified “expenditures for restructuring at Thalia” and blamed “the structural challenges in the entire books sector” for the earnings reduction. One German analyst told Bloomberg the company needs to make clear the restructuring costs and “and in general has to provide solutions and measures to get rid of the structural problems at […]
International News
Random House Canada Becomes Sole Owner of McClelland & Stewart
Random House Canada has acquired the University of Toronto’s 75 percent share in McClelland & Stewart, making RHC the sole owner of the storied Canadian house. Apparently the University has handed over their interest, telling us in a statement that “the University is not receiving any financial compensation.” They write that “publishing is not a core business of the University of Toronto,” and that “the Canadian government has authorized the sale of McClelland & Stewart to Random House. As a result, UofT is able to divest itself of its shares in the company. The University has used its ownership position […]
Corporate News: Scholastic Buys Learners Publishing; Bertelsmann Sells 50 Percent Stake in Pubbles to Weltbild
Scholastic announced Monday that its Singapore subsidiary acquired Learners Publishing, a Singapore-based publisher of supplemental English-language learning materials which has published more than 400 titles since its founding in 2000. “Through this acquisition, Scholastic’s offering of products in the English Language Learning segment is significantly enhanced,” Scholastic International president, growth markets Shane Armstrong said in the release. “Learners’ talented team and its list of outstanding titles will assist Scholastic in accelerating educational publishing growth in International markets.” Regulators approved Bertelsmann’s deal to sell half of its stake in German e-reading store/platform Pubbles to Weltbild for an undisclosed sum. The deal was […]
Nicholls, Oliver and Pratchett Top UK 2011 Charts
The Guardian has printed their annual look at the Nielsen UK sales charts, this time with more depth and transparency than ever. The presentation includes downloadable files of the top 5,000 or so selling books and data about the leading genres across the market. We’ve simplified some of the highlights below, but you can get the full data here. As in the US, Nielsen only tracks print book sales in the UK and does not currently capture ebook data (though ebooks comprise somewhere between 8 to 10 percent of the UK market right now). Nielsen UK does capture nearly all […]
Nook Headed to UK
Barnes & Noble executive Theresa Horner told the UK Publishers Association’s International Conference today “I imagine that in the not too distant future you’ll be able to find one of these devices here” in the UK. It remains unclear whether BN will be working with Waterstone’s or pursuing another path into the UK market. Horner commented: “I think B&N would say that having a chain of book stores is a great asset for selling book products, and if you think creatively about selling content, there is an endless well of possibilities for doing that.” In early November BN ceo William […]
Luxembourg Decides for Europe, Dropping eBook VAT to 3%
The European debate over whether to grant ebooks the same low VAT rate as print books may have just gotten a lot simpler. Luxembourg, the grand duchy of online tax evaders, has ruled that the “super-reduced 3% VAT” that has applied to print books will prevail for ebooks as well, beginning January 1, 2012. Luxembourg currently levies 15% VAT on most goods, including ebooks. The change will significantly advantage Amazon and Apple against other ebooksellers, since both companies have their European headquarters and tax domiciles in Luxembourg, from which they technically sell digital goods across Europe. (VAT is applied according […]