In their annual 10-K filing, Barnes & Noble Education announced the names of the two new independent directors of the board who will serve as the majority on a new committee dedicated to “effect[ing] a ‘Specified Liquidity Transaction.’” Steven Panagos and Raphael Wallander both bring “extensive corporate transformation experience” to the board. Emily Chiu and Dan DeMatteo have left the board. Panagos was the managing director and vice chair of the recapitalization & restructuring group at investment bank Moelis & Company, and led restructuring efforts at a variety of companies. Previously he was the national practice leader at Kroll Zolfo […]
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Bread Loaf Writers Conference Continues Despite Covid Outbreak
Bread Loaf Writers Conference at Middlebury College in Vermont continues to operate, amid a Covid-19 outbreak that has resulted in 26 cases so far (over 10 percent of its 220 participants). Participants with Covid have been sent home. The organizers wrote in an email to attendees, shared online by a participant that contracted Covid, that the number of cases “seems to be leveling off.” The conference spans ten days. Organizers also explain a lack of daily communication about the number of cases, writing, “In our conversations with Middlebury’s trusted medical advisors, we were strongly urged to turn the emphasis away […]
Xoxopublishing Shuts Down for the “Indefinite Future”
Publishing gossip Instagram account xoxopublishing, that began by posting memes but evolved into an anonymous industry tip-line about layoffs, labor issues and more, writes today that it will “be going on a hiatus with stories” for the “indefinite future.” The account used the stories function to post tips and internal memos from management with names redacted. The person who runs the account works at a major New York publishing house. The account writes on Instagram, “In the meantime, we hope you’ll keep building community with each other, online but especially irl. We need unions and gossip networks and spaces for […]
Partnerships: AWA and ILP
Artists, Writers & Artisans (AWA) announced a strategic partnership with International Literary Properties (ILP) to collaborate on projects based on ILP’s roster of literary rights. “Projects may include graphic fiction re-imaginings of classic works” controlled by ILP, as well as film and TV projects through AWA Studios. Matthew Anderson, AWA co-chair & president says in the release, “ILP is a preeminent owner of literary rights with an incredible roster of authors and iconic works spanning a wide variety of genres. We saw a tremendous reaction to our latest reimagining of a classic tale, GATSBY, and see a big opportunity to […]
McGraw Hill Stops Business Book Acquisitions
According to an email to affected authors, McGraw Hill Professional “has made the strategic decision to cease frontlist acquisitions in the business category.” Upcoming titles have been canceled, though authors can keep their first advance. As a result, the business editorial team is being laid off. The company did not cite a total number of eliminated positions, though associate editor Jonathan Sperling is among them. A spokesperson told PL, “As part of a realignment within McGraw Hill’s Global Professional group, we will be ramping down frontlist acquisition and publication of new business titles. However, to be clear, McGraw Hill Global […]
IPG Trims Staff on Publishing and Distribution Sides
Independent Publisher Group (IPG) announced internally “a difficult decision…to significantly reduce staff, specially in the Chicago Review Press publishing program.” Following a “challenging” year in 2022, they “started the year by reducing title count by roughly half, and are now making proportionate staff reductions to the size of the list.” Seven jobs were eliminated on the publishing side, and another two positions were cut from distribution staff, where “the distribution side of our business is also struggling to reach sales and revenue targets this year, as we are experiencing poor sell-through and higher than normal returns.” CEO Joe Matthews noted […]