In what parent company Bertelsmann cited as a “difficult economic environment,” Random House reported 2009 fiscal year sales of â¬1.723 billion, up a mere 2 million euros from last year, with flat EBIT of â¬137 million. The company made up ground in the second half of the year to stay even, helped by sales of 8 million copies of Dan Brown’s The Lost Symbol in the US and the UK and 7 million copies of Stieg Larsson’s Millennium trilogy in the US and Germany. The company says that digital is their fastest-growing segment, with e-book sales tripling during the year, […]
Perseus and Workman Strike iPad Deals
Yesterday the NYT reported that both Perseus and Workman had signed on with Apple to make ebooks available for the iPad, meaning, from what’s been previously reported about Apple’s contract, that they have agreed to the company’s agency model and its most favored nations requirement. Both moves were confirmed first by Apple’s side, and while Workman hasn’t issued anything on the record yet, Perseus CEO David Steinberger said in a statement that the company was “working with Apple to make books from the Perseus Books Group and the independent publishers we represent available on the iBookstore starting on April 3. […]
Quarto's "Demanding Year" Produces Decent Results
Full-year sales at The Quarto Group fell 5 percent to £106.6 million. Adjusted operating profit dropped 10 percent to £10.2m, though reported pretax profit doubled from last year to £3.6m. The book publishing division had sales for the year of £70.1m, more or less flat compared to last year, and operating profit ahead by 7% at £6.7m. Their co-edition division took a bigger hit, as revenues fell 15% to £36.5m, and operating profit dropped 22% to £5m, with “much of the deterioration” blamed on Quarto’s publishing services unit in Hong Kong. Chairman Laurence Orbach, citing “decent results” borne out of […]
Both BN CEO Lynch and Retail CEO Klipper Get Same Compensation Package: 900K Base Salary, 500K Shares
Two filings with the SEC offer a look both at what CEO William Lynch will earn as Barnes & Noble’s new CEO and how Mitchell Klipper’s promotion gives him a much greater role in the company. Lynch’s three-year-deal with B&N will bring in an annual base pay of $900,000 (with eligibility for bonuses with a target of “not less than” 150% of base pay.) Lynch will also receive 500,000 shares of B&N stock and have options to buy another 500,000 shares. Klipper, however, will get virtually the same compensation package, underscoring that B&N views his new position as CEO of […]
WaPo, PublicAffairs Team Up For Book on Health Care Reform
The Washington Post announced this morning that its guide to new health care reform legislation passed by the House on Sunday night will be published by PublicAffairs in April, first as an e-book and shortly thereafter in paperback format. According to the release, LANDMARK: The Inside Story of America’s New Health Care Law and What It Means for Us All “will provide a comprehensive look at the provisions of the bill as it emerges from the Senate” and “feature exclusive interviews with senior White House officials, lawmakers, lobbyists and industry leaders.”
People and Announcements
The Random House Publishing Group has announced a number of promotions: Barbara Fillon has been named Deputy Director, Publicity for Little Random, Spiegel & Grau, and The Dial Press, reporting to Sally Marvin. London King and Jynne Martin have been promoted to Associate Director, while Ashley Gratz-Collier has been named Associate Publicist. Susan Corcoran has been named Deputy Director, Publicity for Ballantine Bantam Dell, reporting to Theresa Zoro. April Flores, Diana Franco, Alison Masciovecchio and Joe Scalora have all been promoted to Publicist. John Brodie has joined Grand Central’s Business Plus imprint as Executive Editor, effective April 5, reporting to […]