A Delaware bankruptcy court granted approval to the Nebraska Book Company to seek votes from creditors on its reorganization plan, which would give control of the company to holders of more than 95 percent of its 8.625 percent senior subordinated notes and more than 75 percent of its 11 percent discount notes, the Lincoln Journal-Star reports. Secured lenders and noteholders would be paid in full with cash, and so long as equity holders don’t object to the plan, “they would get warrants to purchase 3 percent of the reorganized company’s equity at an enterprise value of $500 million, and 5 […]
International News
Bookselling: Half Price Hires Borders’ Staff; NAIBA Writes to Save Reps;WH Smith Investors Look for Split
A Dallas/Ft. Worth web site notes that locally-based (and expanding) Half Price Books posted on the Help Ex-Borders Employees site looking to hire–and has already filled at least a few jobs in Texas as a result. Half Price vp of training Steve Leach says, “The thing to remember about Borders is that they trained an army [of] damned good booksellers. Say what you will about their corporate decisions, but at the ground level, these are some of the best and brightest that the book industry has to offer. It would be a shame to lose so much book industry knowledge […]
International: Israeli Government Investigates Book Chain Steimatzky
Following a price battle with bookselling competitor Tzomet Sfarim, Israel’s Steimatzky Ltd. is said to be under investigation by the Antitrust Authority for possible violation of promises made when they merged with the Sifri bookstores. Israel’s Globes writes that “questioning under caution indicates that the Antitrust Authority believes that it has grounds for an indictment.” They report that “Steimatzky allegedly demanded exclusivity from publishers on books sold in sales campaigns, which would result in Steimatzky’s competitors being forced to sell the books at full price. An industry source said the case involves hundreds of titles.” Tzomet said it wouldn’t carry […]
McDermid Agency Launches Separate Digital Publishing Consulting Service
Anne McDermid and Associates is launching dropCapLiterary, which will consult with authors to provide “advice and instruction on marketing, promoting and selling their work in the new digital age.” Run by technology host, journalist, and strategist Amber Mac and McDermid agent Chris Bucci, dropCapLiterary will operate independently of the literary agency, open to all authors, “regardless of representation,” charging fees for negotiated services. That menu of optional services includes: “building and enhancing an author’s online platform; developing an online marketing strategy tailored for each book; managing available ebook and enhanced ebook rights; determining marketing strategies for ebooks; and collaborating with […]
Mondadori to Put Thousands of eBooks on Kindle
Italy’s Mondadori will make “more than 2,000 ebooks” available via Kindle stores in the UK, Germany and the US. They expect to add another 1,000 titles before the end of the year, and hope to have 80 percent of their 10,000-title list as ebooks “by 2012.” Remarks from deputy chairman and chief executive Maurizio Costa at least imply that an Italian Kindle store might not be far off, following Amazon’s recent launch of an Italian web site. Italy is on Kobo’s list of local ebookstores planned for the coming months as well, though today’s release only mentions Amazon. Barnes & […]
Briefs: University of California Shutters Poetry Program; OFT Signs Off on Bertrams/Dawson Merger; and More
The University of California Press has decided to suspend the publication of its poetry book series New California Poetry after it publishes 3 titles in 2012. Director Alison Mudditt told the LA Times that the decision came about because of budget cuts – it expects to see 10 percent in funding reductions from the university – as well as the “shifting marketplace” for books and publishing. LAT The Office of Fair Trading has been in the headlines of late because of mounting opposition to Amazon’s acquisition of The Book Depository (so much so that UK trade organizations are taking the […]