In one of those UK “trading updates” that doesn’t disclose actual data, Pearson tells investors the company is “trading ahead of expectations” so far this fiscal year and raised its earnings guidance a few pence, to “at or above 60 pence a share” for the full year. Primarily, the pound has stayed weak enough against the dollar and the company has “outperformed the US schools market.” At Penguin, currency neutral sales are down 4 percent, but with the weak pound actual sales are up 12 percent “as the expected tough retail market conditions were largely offset by a good publishing […]
Cash-Starved Weinsteins Switch Book Operation to Perseus Joint Venture
Weinstein Books, which has published a modest output since its founding in 2007 while the larger would-be Weinstein empire has run through its cash, is switching from an independent imprint to a joint venture with Perseus Books as of December 1. The model follows the deal recently struck between Perseus and the Weinstein’s erstwhile partner Tina Brown, now at The Beast. The two companies will “jointly develop new book ideas and Perseus will be responsible for all JV staff and for executing all core-publishing activities.” Perseus will also take over distribution of the Weinstein Books backlist. Weinstein Books publisher Judy […]
Bookselling: Elliott Bay Book Co. Faces Financial Trouble, May Relocate
The stories began online, with unconfirmed reports that Seattle’s Elliott Bay Book Co. was considering a move to a more upscale part of the city. It took a darker turn when the Seattle Times confirmed the possibility in an interview with owner Peter Aaron, who says his credit line–due for renewal in January, at the same time his lease expires–is maxed out and notes that “finding a lender to keep us liquid is an ongoing battle.” Aaron said “I must refinance, or the loan gets called” and added “until the bank piece is in place, nothing will happen.” The paper […]
Another Week of eNouncements
As Kindle International starts shipping, Plastic Logic issue a vapor release telling the world that they will finally announce pricing and confirm productions details on their new e-reader January 7 at the Consumer Electronics Show. In the meantime, they have given It a name: “Que” (full name: Que proReader.) AT&T is their wireless service provider. iRex announced that they are working with NewspaperDirect and LibreDigital to make a wealth of newspapers and magazines available–both as single copies as well as by subscription–on their about-to-release unit. North American ceo Kevin Hamilton tells PaidContent about a third strategy they are working on, […]
Lunch Weekly for Monday, October 19
Deal Reports Just e-mail to deals@PublishersMarketplace if you aren’t using the online form linked below. Report a deal using the online form The Key As usual, the handy key to our Lunch deal categories. While all reports are always welcome, those that include a category will generally receive a higher listing when it comes time to put them all together. “nice deal” $1 – $49,000 “very nice deal” $50,000 – $99,000 “good deal” $100,000 – $250,000 “significant deal” $251,000 – $499,000 “major deal” $500,000 and up FICTION Debut O. Henry Prize winner and 2009 Atlantic Fiction Issue contributor, Alexi […]
People and More
At Penguin Canada, editor Nicole Winstanley will take over as publisher as president David Davidar takes on additional responsibilities as ceo of Penguin International. The unit will also launch an Allen Lane Canada imprint in 2010, with Diane Turbide running the new nonfiction program as publishing director. Managing director Andrea Magyar will give up most of her editorial responsibilities to become vp of business development. Focusing on custom publishing opportunities, she’ll report directly to Davidar. Speaking of imprints, at last week’s Bouchercon Little, Brown publisher Michael Pietsch mentioned briefly that the house is working on a new crime fiction imprint. […]