Building on a business partnership to develop children’s apps initiated last September, Random House has acquired Seattle-based digital media agency Smashing Ideas in a deal that closed May 2. Terms were not disclosed. The company says it “signals the intention of Random House and its parent company to be leaders in digital content creation, and demonstrates their commitment to expanding revenues from mobile and interactive online products and services.” Smashing Ideas will “continue to operate independently” from Seattle and another office in the UK, “primarily focusing on its current and future client businesses.” With respect to Random House, the unit […]
Borders CEO Tries Newspaper Interview to Elicit Publisher Support
Borders ceo Mike Edwards provides a “rare interview” to the Ann Arbor News, trying to obtain through the press the financing from publishers that he isn’t getting through direct negotiations. Big publishers remain unconvinced that there is a sound business reason for them to carry all the risk and finance Borders’ attempt to re-emerge from bankruptcy (so that Edwards and his team can collect bonuses). Edwards pedals it as a “shared risk scenario” but it’s not clear who else besides the creditors would be taking any risk. (The implication is that he’s still using the prospect of Borders liquidating as […]
Barnes & Noble Stock Pops As Company Signals New eReader
Barnes & Noble’s shares rose $1.50 in Wednesday trading, gaining over 14 percent. In an SEC filing, the company said “it expects to make an announcement on May 24 regarding the launch of a new eReader device.” The company reportedly shared the same news during the day in a meeting with analysts, which is likely to have driven the stock’s gains. BN’s choice of date is no accident: the 24th is also BEA’s opening floor day, which means BN clearly intends its e-reader announcement to be the news of the fair.
Amazon Launches Romance Imprint, with More Genre Lines to Come
Amazon is launching another imprint, Montlake Romance (named for a Seattle neighborhood), which will publish “a broad range of frontlist titles in popular romance sub-genres, including romantic suspense and contemporary and historic romance novels, as well as fantasy and paranormal.” The first announced author is two-time RITA winner Connie Brockway, whose THE OTHER GUY’S BRIDE will be published this fall. They say it will “be available to North American readers in Kindle, print and audio formats at www.amazon.com, as well as at national and independent booksellers,” and Amazon tells us her print edition will be published as a trade paperback, […]
Harper US eBook Sales Reach 19 Percent for the Quarter
News Corp. issued third quarter earnings and as has become the new standard, the words “book” and “HarperCollins” do not merit an appearance anywhere in the 13-page statement. The company’s publishing division overall was a mess–operating income fell $82 million thanks to The Daily and advertising declines in the UK and Australian newspapers, and a marketing services litigation settlement cost another $125 million. By their own reckoning, HarperCollins says they “had a solid quarter. In the US, eBooks comprised 19 percent of sales in the US, and 11 percent of worldwide revenues. The company says “we expect to see those […]
People: Macdonald to Stay As Zondervan CEO, and More
Zondervan’s interim president Scott Macdonald remain in the position formally as president and CEO. Macdonald joined Zondervan’s business unit The City in December 2010 as acting general manager. HarperCollins ceo Brian Murray says in the announcement, “Scott brings more than 30 years of experience and business leadership to this role. His extensive experience in the Christian retail market as well as sales, operations and management, coupled with his steady demeanor and his strong faith make him the ideal leader for Zondervan.” Elsewhere, Lauren Flower joins HarperCollins Children’s Books this week as director of integrated marketing. Previously she spent eight years at […]