Investor Ron Burkle filed papers with the SEC on Friday disclosing that his companies have purchased an 8.3 percent stake in Barnes & Noble since November 24. Purchasing over 4 million shares, he believes “such shares were undervalued by the market at the time they were acquired.” The filing declares the purchase is “for investment purposes, however, the reporting persons intend to closely monitor the company’s performance and may modify their plans in the future.” Burkle’s investment company Yucaipa says on their web site that they “work with management to strategically reposition businesses and implement operational improvements, resulting in value […]
People: Barbara to Foundry, and More
After three years as agent and contracts director of the Donald Maass Literary Agency, Stephen Barbara will join Foundry Literary + Media as a full-time agent on Monday, January 5th. Barbara represents authors for both the children’s and adult markets and is bringing his entire list to Foundry. Also in recent days, in the UK, Harper UK ceo Victoria Barnsley and editor, memoirist and novelist (and Costa award nominee) Diana Athill were both awarded OBE’s on the Queen’s annual honors list, as Terry Pratchett was “flabbergasted” to receive a knighthood. On December 31, prolific mystery writer Donald Westlake, 75, died […]
UK Sales Finish 2008 Down Slightly
According to Nielsen Bookscan, unit book sales in the UK for 2008 were down by just 0.4 percent, while revenue declined 1.6 percent to 1.773 billion pounds. Revenue was up 3.7 percent for the first half of the year, but declined 5 percent during the second half.
Some Big Titles on the Way
The WSJ highlights a few big releases, including the announced 2.8 million-copy first printing for John Grisham’s The Associate, publishing January 27. Others mentioned include Jodi Picoult’s Handle with Care, James Patterson’s nonfiction book The Murder of King Tut, Jonathan Littell’s The Kindly Ones, Sara Gruen’s Ape House, and Emmanuel Jal’s War Child: A Child Soldier’s Story.WSJ
Holiday Layoffs at Baker & Taylor
The wholesaler, which had credit insurance cover pulled by Euler Hermes earlier this month, has laid off “just under” 60 people, or 2 percent of overall staff. Included in the cuts are two executives for entertainment and music purchasing, LJ reports. CEO Thomas Morgan says “We have taken a fresh look at our organizational structure and made some adjustments…. We are continuing to pursue retail business that meets our financial objectives and are moving forward with a number of new retail accounts.” He notes, “During challenging economic times, it is our desire to cut all non-employee expenses first, but we […]
What Oprah Will Promote In January
Starting Monday January 5 Oprah Winfrey will “get back on the wagon” with a variety of her lifestyle experts. Lunch already reported the featured Suze Orman appearance and free ebook giveaway; an Amazon page now highlights the author books and authors. They include Bob Greene’s Bob Greene’s The Best Life Diet Cookbook; Michael Roizen and Mehmet Oz’s You: Being Beautiful; Michael Bernard Beckwith’s Spiritual Liberation; Elizabeth Lesser’s Broken Open: How Difficult Times Can Help Us Grow; and and Laura Berman’s Real Sex For Real Women. The week of new broadcasts will be followed by a week of related webcasts.