Grand Central will fold its Springboard Press and Wellness Central lines into a newly-christened Grand Central Life & Style imprint, starting in fall 2010. They will publish eight to 12 titles a year across categories including style (beauty and fashion), food (cooking), body & mind (diet, fitness, self-help, and inspiration), home (organization, design, and green living) and connections (relationships, parenting and pets). Karen Murgolo continues to oversee this publishing, as editorial director of the new line. In the UK, Pan Macmillan publishing director Maria Rejt will run her own imprint, Mantle, which launches in May with Scott Turow’s new book. […]
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Today all from the UK: At Harper UK, publishing director Lynne Drew has been promoted to publisher, fiction and will now oversee the company’s entire adult fiction program. Publishing director Julia Wisdom moves up to publisher, crime and thrillers, and deputy publishing director Sarah Ritherdon is in charge of commercial women’s fiction, with both reporting to Drew. Senior commissioning editor Emma Coode has been promoted to editorial director of science fiction imprint Voyager, reporting to publishing director Jane Johnson. Former Harper UK Children’s publishing director Gillie Russell will join Aitken Alexander as an agent, focusing on YA and children’s books. […]
Publishers Donate to Haiti
On Friday Random House, Inc. announced a $100,000 corporate contribution to be shared by the American Red Cross Haiti Relief Fund and Haitian health-care provider Partners in Health (led by Paul Farmer, the subject of Tracy Kidder’s MOUNTAINS BEYOND MOUNTAINS). The publisher told employees they will match their donations, dollar for dollar up to $1,000, to any tax-qualifying Haitian earthquake relief organization until June 1. Parnet company Bertelsmann has also announced a 100,000-euro donation to children’s relief organization Plan International. In a different type of relief effort, Simon & Schuster’s Pimsleur division is providing free downloads of their Haitian Creole […]
Pearson Raises Earnings Guidance for the Year
In a trading advisory ahead of their annual earnings report on March 1, Pearson told investors that they expect to show earnings per share growth of “around 10%, ahead of our previous guidance and the current consensus of market expectations (approximately 61 pence per share.) The company says, “Throughout the year, we have benefited from strong growth in US higher education; good profit improvement in US school testing and international education; and the resilience of professional testing and our subscription-based businesses in the FT Group…. In addition, in the fourth quarter we began to see the first signs of trading […]
Waterstone's Holiday Comps Down 9%; MD Johnson Is Replaced
Waterstone’s parent company HMV issued a brief trading update, reporting that in the ten-week holiday sales period ending January 2, same-store sales at the bookstore chain declined 8.9 percent. Managing director Gerry Johnson has been dismissed, and HMV group development director Dominic Myers has taken over management of Waterstone’s “with immediate effect.” (BTW, total e-book downloads for the period were 80,000 units.) HMV head Simon Fox says, “Whilst the recent performance of Waterstone’s has been unsatisfactory, it remains an excellent business and brand, with a great opportunity as the only remaining specialist bookseller on the High Street.” Fox indicates to […]
Houghton Mifflin Harcourt Financial House of Cards Reported Ready to Fall
Two debt restructurings last year still left Houghton Mifflin Harcourt parent company Education and Media Publishing Group (EMPG) straining to sustain their debt obligations and covenants, and reports from Ireland indicate yet another restructuring is in the works that would wipe out equity-holders entirely and turn the company over to its secured lenders. Investors losing out would include the financial genius behind the $9 billion worth of acquisitions, Barry O’Callaghan, whose interest was reduced to about 20 percent of the company last August. (He also made himself ceo of HMH last year when Tony Lucki wisely retired.) But it also […]