Facing a fine of just $6,750 and free legal defense, why wouldn’t they? Michigan’s RDR Books filed a notice of appeal last week against Judge Robert Patterson’s September ruling in favor of Warner Bros., blocking publication of RDR’s HARRY POTTER LEXICON.Grand Rapids Press
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Reed Acknowledges RBI May Not Sell
In a brief trading update, Reed Elsevier management had this to say about the sale of their b-t-b inesmagaz: “The process of divestment of Reed Business Information is at an advanced stage although in the present economic and credit environment a satisfactory outcome cannot be certain. As part of the process, a consortium of financing banks are in discussions with a small number of prospective buyers to provide financing. Reed Elsevier has indicated a willingness to provide financing support for any successful bid.” They also noted: “The performance of the magazine and information business has held up well during the […]
Ackman Believes in Bankruptcy
Hedge fund investor Charles Ackman of Pershing Square Capital Management, whose fund is Borders’ largest shareholder, was the first guest on the Charlie Rose Show last night. Pershing Square has lost many millions to date on their Borders investment, with company’s market cap down to under $170 million. But on the show, Ackman repeatedly endorsed the nation’s “reorganization” procedures, favoring bankruptcy over bailouts for GM and other large institutions. The video won’t be posted online until later today or tomorrow but it’s worth watching. Ackman calmly explains how bankruptcy procedures are designed to heal companies with unhealthy balance sheets and […]
The Internet vs. Books
That’s the theme of an essay by Beau Friedlander in the LA Times, in which he concludes, “the instant knowledge provided by the Web is invaluable, as is the deeper communion provided by books.” In part: Books require a different sort of communion with one’s subject than the Internet. They foster a different sort of memory — more tactile, more participatory. I know more or less where, folio-wise, Eliot gets nasty about the Jews in his infamous 1933 lecture series After Strange Gods, but I always have to read around a bit to find the exact quote, and the time […]
Seven Candles
We’re always a little bit surprised this time of year when the anniversary of the creation of PublishersMarketplace.com comes around again, as we now celebrate seven years of service. As you know, most of the time we’re entirely focused on what we’re going to do next rather than what we’ve already accomplished. Since we spend so much time reporting on other company’s quarterly and annual results, this year we thought we would offer you an “annual report” on the activity in our world: FeaturesSeven years ago we naively pledged to take our site’s modest beginnings and continue to add to […]
Crichton's Last Book?
Prior to his death yesterday, Michael Crichton was working hard on completing what would be his final manuscript. Originally the book was scheduled for publication this December. “He didn’t deliver the manuscript as expected,” ceo Brian Murray told us during an earnings telephone interview, and “we postponed it.” Harper publisher Jonathan Burnham indicates that they do not know the exact status of the manuscript right now. Crichton had been working on the manuscript for some time and hoped to complete the book before the end of the year. Though his illness was known, his final deterioration was apparently both quick […]