LA-based private-equity firm Gores Group “is in discussions to purchase” over 200 of Borders’ 405 operating stores, the WSJ reports, citing “people familiar with the matter, in a deal that would keep the bookstore chain operating as a going concern.” Those people also insist other unidentified parties are also in purchase discussions with Borders. And they say the stores and related assets could sell for approximately $200 million. (Though not stated in the article, it implies that the other 200 or so stores would be severed from Borders, perhaps without a buyer or the infrastructure and assets to continue operating.) […]
GBS Hearing Pushed Back to July 19 As Parties Seek More Time To Draft New Settlement
In a status conference Wednesday afternoon that lasted all of five minutes, no decisions were made with respect to the Google Book Settlement, as all parties wanted more time to reach some sort of agreement. Bruce Keller, representing the Authors Guild and the AAP and speaking on behalf of “all parties,” told the court that “the parties are still considering options. They have not made any decisions. Everything being discussed between them is on the table.” Judge Chin set a new hearing date of July 19 at 10:00 AM in response to Keller’s assertion that parties would need an additional […]
eNews: 3M Invests in txtr; Diesel Allies with E-Reads; More From Eisler
Further underscoring 3M’s commitment to the epublishing space, following of our pre-BEA report of their ambitious new library ebook initiative, the company formally announced an investment in Germany’s txtr. The ereading software company’s ceo Christophe Maire calls it a “considerable investment” and says it “demonstrates that 3M has recognized the growing importance of the eReading market.” He notes that txtr is already a vendor for 3m: “we provide a white label solution to 3M, which will allow them to open up new vertical markets.” Like many others in the space, txtr at one time planned their own reading device, which […]
Glenn Beck and S&S Expand Partnership and Add Imprint
Glenn Beck may be leaving the Fox News Network later this year but his longstanding relationship with Simon & Schuster will continue and expand thanks to a new co-publishing venture with his production company Mercury Radio Arts. Mercury Ink will launch this August as an imprint that aims “to discover, publish and promote books and authors that [Beck] is passionate about across a variety of genres,” co-publishing with Simon & Schuster. Beck says in the announcement, “While I have a million book ideas of my own, there are still countless subjects that I know my audience would love to read […]
Earnings: Pan Macmillan Q1 Digital Sales at 8 Percent; Digital Spending Causes Q4 Earnings Drop for Indigo
Pan Macmillan said digital sales for the first quarter of 2011 made up 8 percent of total revenue, and they expect that number to rise to about 10 percent for the full fiscal year. (That puts them at the high end of UK publishers disclosing ebook sales so far.) Over the same period, the publisher’s sales of print books have also shown “double-digit sales growth.” The Bookseller In contrast, in a statement timed with their annual meeting, Quarto said US ebook sales of their illustrated books are heading towards a projected 2 percent of sales. They add, “there is talk […]
People: Dolan Gets New Imprint at HMH, and More
In what has to be considered a case of turnabout being fair play, Eamon Dolan will leave Penguin Press for Houghton Mifflin Harcourt to become VP and Editorial Director of his own imprint, Eamon Dolan Books, starting on June 13. Before he’d moved to Penguin Press as editor-in-chief in 2007 – a title removed with Scott Moyers’ return earlier this month as publisher, with Ann Godoff taking on editor-in-chief duties – Dolan held the same title at what was then Houghton Mifflin, editing books by Eric Schlosser, Buzz Bissinger, Jerome Groopman and David Sheff. The new imprint will concentrate on […]