Austin, Texas based Literati has been acquired by Trustbridge Partners, and plans to use the new support to “increase its reach into schools and to provide a wealth of quality reading material combined with new fundraising solutions.” Founded in 2016 to provide monthly subscription services for children’s books, Literati expanded in 2022 when they acquired Follett School Solutions’ struggling school book fair business. In the announcement, Literati says their book fairs have “nearly $40 million in revenue” and reach 2.5 million students. Terms of the sale were not disclosed, but Literati is reported to have raised at least $52 million […]
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Scholastic Sales Slip in the Third Quarter; Announces Big Share Repurchase and Dutch Auction
Scholastic reported results from its third quarter, ended February 28, with sales down 2 percent to $329 million. Operating loss increased 13 percent to $(26.9) million and operating loss before one-time items was down 16 percent to $(24.3) million. Adjusted EBITDA fell to $0 from $6 million, attributed to the sale-leaseback transactions on their properties. At the same time, the company announced a $200 million “modified Dutch auction tender offer,” buying back shares at a price range of between $36 to $40 per share. That auction is part of a new $300 million repurchase plan, with “the remaining portion of […]
Al Zuckerman Dies at 94
Founder of Writers House and chairman emeritus Albert Zuckerman, 94, has died, of natural causes. The agency writes: “A true legend of the industry, Al was the agent for some of the most important and best-read writers of our time, helping to bring era-defining books to tens of millions of readers around the world, including Ken Follett’s The Pillars of the Earth, Michael Lewis’s Moneyball and Professor Stephen Hawking’s A Brief History of Time.” “At the beginning of his storied career, Al was a one-man shop, taking business meetings in a bank lobby; Al retired in 2020 after nearly 50 years, having overseen the […]
Authors and Editors Conversation #2 from Our Buzz Books Spring Summer 2026 Fiction Panel: LJ Ross’s IMPOSTOR
Today we bring you the second Authors and Editors conversation from our recent fiction panel with the brilliant LJ Ross and her Sourcebooks Poisoned Pen editor Anna Michels for IMPOSTOR, which published yesterday. Enjoy!
Erin Somers and The Ten Year Affair Live Today at Noon
Join us today at noon for the very first Substack Live episode of the Buzz Books Official Monday Interview, as we interview Publishers Marketplace’s own Erin Somers on the eve of the publication of her brilliant The Ten Year Affair.
WH Smith Stock Plunges Following Disclosure of Accounting Error
Shares in travel retailer WH Smith plunged over 42 percent in Thursday trading after the company disclosed an accounting error found while preparing results for their fiscal year ending August 31. They said there was “an overstatement of around £30 million” of expected profit from their North American division, “largely due to the accelerated recognition of supplier income.” Company full-year pre-tax profit is now expected to be “in the region of £110 million” as a result. The North American division was previously expected to have profit of £55 million on its own, now likely to be £25 million instead. They […]