Judge John G. Koetl convened a pre-trial conference in the high-profile Parneros v. Barnes & Noble case Tuesday afternoon, which he kicked off by asking counsel to describe the case. Parneros’ attorney Anne Clark of Vladeck, Raskin & Clark rehashed the details of the original complaint before raising the possibility of a motion to dismiss…
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Simon & Schuster Sales and Profits Gain on FEAR and More
Bob Woodward’s FEAR helped lift Simon & Schuster’s sales in the third quarter to $240 million, up $12 million from a year ago, following two flat quarters. Operating income continued its steady rise, at $51 million for the quarter, $3 million higher than a year ago. In what ceo Carolyn Reidy called, “A great quarter,”…
Shareholders Step In with $13 million to Secure Quarto’s Credit Extension
The Quarto Group announced that it has successfully extended its current banking facility, originally set to expire in April 2019, for one additional year. In September, the company said it was close to concluding negotiations on their $80 million syndicated facility, noting that “the key terms, which include a debt reduction program, have been agreed…
Barnes & Noble Says Parneros “Made Shocking and Derogatory Comments” That Wrecked Company Sale
Barnes & Noble filed its response to former ceo Demos Parneros’s suit alleging breach of contract and defamation on Tuesday, denying Parneros’s allegations and countersuing “to recover…the substantial damages flowing from Parneros’s breach of his fiduciary duties,” claiming that he intentionally “sabotage[d]” a deal to sell the company. In the filing B&N admits there was…
Canongate Has Loss Following Acquisition and Advance Writedown
Edinburgh’s Canongate filed its earnings statement for the year ended December 2017, on the usual delayed UK timetable. While overall sales increased, to £9.59 million from £8.54 million in 2016, the company had an unprofitable year, logging a pre-tax loss of £440,000. The publisher had slim profits in 2016 (£128,000) and 2015 (£119,000) after a…
EU Parliament Vote Moves Controversial Copyright Law Forward
The EU Parliament passed the Copyright Directive, containing two controversial provisions intended to ensure publishers and content creators get paid when their content is shared on internet platforms such as Facebook, Google, and YouTube. While the vote is significant, particularly considering that Parliament rejected a different version in July — it’s far from final. As…