The controversy over alleged misrepresentations in Greg Mortenson’s books is back in the news for a number of reasons. Sunday night 60 Minutes rebroadcast the April episode that first presented the case against Mortenson (and launched Jon Krakauer’s ebook on the topic, THREE CUPS OF DECEIT, without acknowledging that Krakauer’s research and manuscript were driving the investigation). The charity Mortenson founded, the Central Asia Institute, finally made it clear that its legal advice rather than medical counsel which is keeping Mortenson from responding: “Greg Mortenson is recovering from his open-heart surgery and making good progress with cardiac rehabilitation. On advice […]
Legal
Saatchi UK Suit Aims At Non-Compete Clauses
Charles Saatchi has brought a lawsuit in London against Phaidon Press, which published his 2009 book My Name is Charles Saatchi and I Am An Artoholic and contracted that year for two additional books. He appears to aim at what many would recognize as standard non-compete language. According to the Telegraph, the suit cites “a section of the agreement [that] prevents him from preparing, editing or licensing any work which forms part of the two books, or which might compete with the titles, for the life of the agreement. A judge is due to decide whether this amounts to an […]
Chorion Reportedly Close to Bankruptcy After Two Key Executives Resign
Literary brand management company Chorion, which controls the rights to the estates of Agatha Christie, Raymond Chandler and other notable crime writers, along with UK children’s properties like Noddy and Mr. Men, may be forced into administration by its lenders after failing to raise funds, according to a report in the Sunday Times. Though the paper indicated that Deloitte has been retained to oversee a potential bankruptcy “as soon as this week,” the Telegraph quotes a “source close to one of the banks” as indicating that several options were being considered. “Administration is not something we are about to push the […]
Google Settles with La Martiniere; Will Launch Google eBooks In France
Google has settled its differences with another French publisher, La Martiniere. Perhaps more importantly, they acknowledge that Google eBooks is coming to France. (Now we just need to know when.) The companies will work together to put the publisher’s out-of-print, in-copyright books online, which “effectively ends the legal dispute” between the two. In 2009 a French court ordered Google to pay La Martiniere a small fine for scanning their books without permission. (They sought 15 million euros in damages, and were awarded 300,000 euros.) AFP says Google has now withdrawn their legal appeal–but indicates the company has not settled yet […]
Bookselling: Nebraska Book Company Gets Bankruptcy Plan OK; Easons Plans Layoffs and Store Closings; and More
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 […]
BAMM Now Set to Buy 14 Borders Store Leases
Books-A-Million’s original plans to buy as many as 35 stores from Borders fell through in July, but now the two retailers are trying again – albeit for a smaller number of stores this time. Documents filed in federal bankruptcy court late Wednesday indicate that BAMM has reached a deal for $934,209 to buy 14 superstores and small format stores from Borders, as well as assume responsibility for the leases. That amount comprises $184,209 to pay for cure costs to the landlords (which BAMM would pay upon the deal closing) and $750,000 for the stores and lease agreements themselves. The deal […]