Harlequin’s parent company Torstar reported first quarter sales, with the book publishing unit appearing to show mixed results. For some reason the company did not break out the quarter’s book publishing sales but they indicate revenues rose $3.9 million (CA)–which, based on last year’s results, would put them at $116.9 million, still well below first quarter 2009, when sales were $124.5 million. They did break break out EBITDA, which declined $1.2 million to $22 million for the quarter. As usual, currency effects and hedges figure prominently in the group’s results, particularly with the Canadian dollar rising again. Management assures investors […]
Briefs: Borders HQ Asking Price Slashed; ‘Mirkwood’ Lawsuit Settled; Publisher Acquisitions; And More
Agree Realty, hit particularly hard by Borders’ bankruptcy as a result of owning 14 properties where the retailer held long-term listings, has slashed the asking price for the company’s Ann Arbor headquarters from $18.349 million to $10 million. Earlier this year Borders indicated it was seeking cheaper and smaller space in the suburban Detroit area, as the 330,000 square-foot headquarters used to house as many as 1800 employees, but that number is down to 500 or less. AnnArbor.com The Tolkien Estate settled its lawsuit against author Stephen Hilliard, whose novel Mirkwood features JRR Tolkien as a character. The estate argued […]
Sales Up For Simon & Schuster in First Quarter
Sales at Simon & Schuster rose 2 percent in their fiscal first quarter, up $3 million to $155 million. Adjusted OIBDA improved as well, more than doubling from $3 million last year to $7 million this time, and adjusted operating income rose similarly from $2 million to $5 million, helped by “lower shipping, production and returns costs from the significant increase in digital sales.” eBooks comprised 17 percent of revenues worldwide (and thus were likely a higher percentage for the US alone) or more than $26 million, up from 7 percent a year ago. While Hachette Book Group said in the […]
People, Etc.
At Random House, Jeff Weber has been promoted to director, online digital sales and Candace Chaplin moves up to VP and director of sales and marketing, nonfiction brands, a newly created position. Deb Shapiro has launched Deb Shapiro & Company, a PR/marketing company for authors and books. For the past seven years, she was director of publicity and online marketing at Bloomsbury Publishing. The late Kim Ricketts’ daughter Whitney confirms that Lara Hamilton will take over running Kim RIcketts Book Events, as the family remains “closely connected to the business.” “Lara shares my mom’s passion for good books, cooking, and […]
Lagardere Sales Slide As US eBooks Hit 22%, Plus UK Digital Stats and Asian Device Updates
Today’s stories offer digital statistics and hints from all over. Lagardere issued a brief first quarter trading update. Publishing revenues were 390 million euros, down 9.8 percent on an absolute basis, and down 10.4 percent from a year ago on a like-for-like basis. Once again, they attribute the drop to Stephenie Meyer’s declining sales. (The same period a year ago “notably” included Meyer rights sales as well.) eBooks comprised approximately 22 percent of sales in the US in the quarter through the end of March, and grew to 5 percent of sales in the UK. For the full year, they […]
Publishers Line Up Instant eBooks on Bin Laden Death
President Obama’s announcement of Osama Bin Laden’s death Sunday was followed quickly by book publishers planning what they could issue digitally as quickly as possible. The WSJ reports that Random House executive editor Jon Meacham will oversee and write the introduction for “Beyond Bin Laden: America and the Future of Terror,” an essay collection featuring a half-dozen other contributors that the publisher hopes to release as an ebook next week. (One essay that seems certain to be included is Salman Rushdie’s op-ed published by The Daily Beast yesterday.) In addition, Free Press is “eager” for a digital book on the […]