Similar to the recent move by Atlas & Co., Canada’s Thomas Allen Publishers is “postponing” most of their planned spring 2009 releases until the fall. The company “generally releases only 10 to 12 books per year,” the National Post notes. President Jim Allen says, “We are postponing a few of our spring titles due to the fact that we’re not ready to publish them. This happens from time to time in book publishing for a variety or reasons, and given the literary nature of our list and the economic climate we’re in, we have to be absolutely certain that we […]
International News
There is Good News–In Canada, and Currency Markets
BookNet Canada, which tracks point-of-sale data covering approximately 75 percent of the market, says that for the four weeks ending November 23, dollar sales rose 2 percent and unit sales rose 4.9 percent, concluding that “Canada might be the only English book market still in positive territory.” Unfortunately, that could be due in part to the relative cheapness of books in Canada compared to the US, with the Canadian dollar still trading at a very low .80 against the US dollar.Release In general, the dollar has retained its recent strength, which for the time being helps lift the performance of […]
Canada's Globe and Mail Changes Book Coverage
This has to be the most artful press release I’ve ever seen about a newspaper eliminating their stand-alone book section. Toronto’s Globe and Mail says at the very end of this exuberant announcement that “the Books section will physically join The Globe’s award-winning Focus section on Saturdays, starting January 10.” Editor-in-chief Ed Greenspon gushes, “The Focus section is one of the most high-profile, best-read sections of the paper so the Books content should reach even more readers.” The main focus of the news in on a Books web site the paper is establishing. Former deputy features editor Peter Scowen, is […]
UK Prize for The Rest Is Noise
A prize a day keeps the blues away. This time last year Alex Ross’s THE REST IS NOISE was making multiple Top 10 lists in the US and now it is the “the clear and undisputed winner” of the Guardian First Book Prize in the UK. Guardian literary editor Claire Armitstead, said: “In some quarters this book has been seen as not having a popular appeal. Our prize – which, uniquely, relies on readers’ groups in the early stages of judging – proves that, on the contrary, there is a huge appetite among readers for clear, serious but accessible books.”Guardian
Today's Woolworths/Bertram's/EUK Update
As usual, the British press is all over the map with their reports. The Times warns that “the entire Woolworths empire, including its stake in 2Entertain, the BBC joint venture, is likely to be in administration by the end of the week.” They add that “the BBC is trying to cut its initial 100 million pound offer to take full control of 2Entertain.” But the Guardian fires back with a spokeswoman for the BBC calling the threat of administration for 2Entertain “categorically untrue.” She adds, “Our view is it is not going to go into administration, you can’t put a […]
Today's Debt Report: Redstone, Bertram's, and EUK
The WSJ continues to stay on top of Sumner Redstone’s efforts to restructure his debt and suggests that there may not be a clear answer (or end to speculation over CBS stock) this year: “Negotiations to restructure its debt are moving slowly and a deal looks increasingly unlikely this year, say people familiar with the situation.” Redstone is said to now have “a trove of cash and near-term liquid assets of around $500 million.” Along with the massive tax benefits that will come from his bargain sale of Midway Games, the hope is that provides National Amusements “with a cushion […]