On Monday, Penguin Random House US managers executed selected layoffs in publishing groups and functions across the company. The company declined to provide any specifics about the number of people affected, though the layoffs are thought to number about 60 according to multiple people. Interim ceo Nihar Malaviya wrote to staff about the changes on Tuesday morning: “We are halfway through 2023, and while the book market has grown, particularly over recent years, we have also faced significantly increased costs in all areas across the board, and we expect these increases, as well as inflation, to continue. “We have been […]
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Simon & Schuster and Likewise Expand Partnership
Simon & Schuster has expanded its partnership with entertainment platform Likewise to bring book recommendations to readers. The agreement builds on a previous partnership which created a Likewise/S&S community. They write in a release, “This expanded relationship will promote Simon & Schuster authors and books across the company’s platform of free products including the Likewise mobile app, Likewise.com, its social media channels, and its suite of entertainment and media newsletters, the largest in the industry.” They continue, “Through two exclusive in-app Communities—Book Club Favorites and Stephen King Fans—Simon & Schuster will host immersive discussions about forthcoming releases, preview snippets from […]
USA Today Bestseller List Returns
After editorial layoffs forced USA Today’s Best-selling Booklist to go on hiatus in December 2022, the list relaunched today. Like the old list, the new list will consist of 150 titles in all genres, including self-published books, and combine print and digital sales numbers. Previously, compiling the list was a manual process, but now is automated. A release explains that the list is “based exclusively on sales analysis from U.S. booksellers including bookstore chains, independent bookstores, mass merchandisers and online retailers.” “The relaunch is an automated effort that still uses the same algorithm we already had in place but now […]
Enduring Ventures Plans to Acquire Scribe’s Assets
A small investment company, Enduring Ventures, says it signed a letter of intent to acquire the assets of Scribe Media, pending financing (“we still need approval from the SBA/Bank and support from authors and shareholders for this to work”) and other diligence. Enduring Ventures co-founder Sieva Kozinsky wrote in a lengthy LinkedIn post that he will become interim CEO of the newly created business, which is designed to “continue serving Scribe’s existing customers.” In the same post, created in the Scribe Media account, he notes that the company laid off 10 more people from the skeleton staff (87 people were […]
‘The Nation’ Will Relaunch ‘Bookforum’
Bookforum, the quarterly publication of book reviews that shut down last December, will relaunch in August under the umbrella of The Nation magazine. The Nation acquired its archives and intellectual property in June and plans to revive it, with editorial operations remaining separate, and the editorial staff that was in place at the time of closure, led by editor in chief Michael Miller. Miller tells the New York Times, “They know how to run magazines.” Bookforum was shuttered when PMC Media acquired the magazine’s parent, Artforum International Magazine. Bhaskar Sunkara, president of The Nation, says in a release, “Bookforum has […]
Scribe’s Chief Experience Officer Meghan McCracken Resigns
Scribe Media’s chief experience officer Meghan McCracken has resigned, writing in a LinkedIn post, “My work there is done.” The company officially ceased operations in May, due to an Article 9 sale, but planned to continue until its assets were transferred to new ownership. The 87 laid off employees received no severance and some freelancers remain unpaid. McCracken writes, “Feeling a lot right now, but mostly feeling so much for our authors, freelancers, and all our current and laid off Crew. My sole driving motivation these past three weeks was taking care of all of them. I had a lot […]