Borders has filed proposed plans for multiple auctions of their intellectual property assets and leases, and an omnibus hearing before Judge Martin Glenn has been scheduled for August 10 to rule on those motions and other objections. They want to auction their IP assets on September 14, with bids due September 8, and can sell the assets to one or more buyers. Borders proposes to sell their unexpired leases in two rounds, based on the deadlines for when those leases must be rejected or assumed. The auction for the the first round would be August 31 and the auction for […]
Penguin Profits Rise As Pearson Gains On All Fronts
Pearson released results for the first half of their year on Friday, reporting sales for Penguin that are both up and down. On the pure numbers, sales of £457 million were down £36 million, or 7 percent (and down less on a constant-exchange basis), and operating profit of £42 million fell £2 million. But an organizational change at Pearson late last year realigned the units that are reported as part of Penguin, and when the “underlying” results are adjusted to compare the ongoing pieces of Penguin, sales were flat and profits actually rose 13 percent. Penguin ceo John Makinson says […]
Results Fall At Harlequin As Print Declines Exceed Digital Gains
Harlequin’s parent company Torstar also reported second quarter results today. The book publishing unit had sales of $110.3 million (CA), down by $7.3 million, or 6 percent. EBITDA was down $4.7 million in the quarter, or 21.5 percent, at $17.2 million. In a familiar refrain for many, “declines in print retail revenues more than offset digital revenue growth.” Digital sales were up $7.3 million the quarter, but retail print sales were down $10.8 million. Overall, digital comprised 15 percent of revenue for the quarter–more than double the 7 percent it comprised in the second quarter a year ago, at roughly […]
Vague Rumor of Interest in Barnes & Noble from Apple Stirs Market, Briefly
It was a funny (as in odd) day in publishing-related market rumors Thursday. Boy Genius Report “received a tip from an unproven source claiming to have knowledge of discussions within Apple to possibly purchase Barnes & Noble…. It also almost makes too much sense for Apple to do this, said another source of ours, mentioning that Apple doesn’t make moves that appear logical to most outside observers at the time.” Barnes & Noble’s stock jumped 3 percent immediately and then settled back during the day. Funnier (as in ha ha) was the sharp as a truck analyst Brian Marshall at […]
UK’s World Book Night Comes to US Under Carl Lennertz
A US division of the UK’s World Book Night program is being formed under the direction of HarperCollins vp, retail marketing Carl Lennertz, who starts there September 1. The second annual World Book Night will take place April 23 in the US and the UK. Twenty-five titles for the UK will be announced at the Frankfurt Book Fair on October 12, chosen by an editorial selection committee chaired by author Tracy Chevalier. In the US, a “cross-industry steering committee” is in formation. Lennertz says in the announcement, “I have loved everything about my time at Harper. The books, the people, […]
McDermid Agency Launches Separate Digital Publishing Consulting Service
Anne McDermid and Associates is launching dropCapLiterary, which will consult with authors to provide “advice and instruction on marketing, promoting and selling their work in the new digital age.” Run by technology host, journalist, and strategist Amber Mac and McDermid agent Chris Bucci, dropCapLiterary will operate independently of the literary agency, open to all authors, “regardless of representation,” charging fees for negotiated services. That menu of optional services includes: “building and enhancing an author’s online platform; developing an online marketing strategy tailored for each book; managing available ebook and enhanced ebook rights; determining marketing strategies for ebooks; and collaborating with […]