McGraw-Hill is splitting their financial services segment into two distinct businesses. As part of related changes announced today, current CFO Bob Bahash will take over as president of McGraw-Hill Education, replacing Peter Davis who has “left the corporation to pursue other career opportunities.” CEO Harold McGraw III says, “I want to thank Pete Davis for his many contributions to The McGraw-Hill Companies. He has been a valued colleague and leader and we all wish him well in his future career.” Bahash has been cfo since 1988, though he served in the education division earlier. He will be replaced by Jack […]
More Info from Dorchester’s New CEO
Following our reports, Dorchester has issued a formal press release regarding the appointment of Robert Anthony as their new ceo. He says in the statement “my first goal with Dorchester is to reorganize and improve the accounting and internal financial reporting structure. This will include a complete review of the royalty system and other vitally important internal procedures, all of which are intended to focus on shoring up revenue sources and paying off creditors. We will create an atmosphere of transparency and efficiency that was heretofore lacking.” Trained as a CPA, Anthony has been cfo and coo of Backe Digital […]
People, Etc.
Just to confirm ourselves, we received additional confirmation from a current employee of Dorchester of our story that ceo John Prebich has left the company. Bob Anthony is now said to be in charge (and Prebich’s former extension now has a voice mail recording from Anthony). The company is said to be preparing a press release, so that’s all the detail we have for now. Bestselling author and television personality Chelsea Handler has reportedly signed a new three-book deal, again with Grand Central, that creates for her a small imprint: Borderline Amazing/A Chelsea Handler Book. The deal seems to cover […]
Publishing Flat At Courier As They Take Another Writedown on Creative Homeowner Line; Hastings Keeps Selling Fewer New Books
Courier reported that both fourth quarter and full-year sales rose 3 percent, at $68.4 million and $257.1 million respectively, but weakness in the home improvement market led to yet another writedown at their Creative Homeowner publishing unit. They took a $4.7 million non-cash impairment charge due to “the systemic problems it currently faces in the home improvement market,” bringing fourth quarter net income down to $1.1 million. The publishing division had sales of $11.9 million in the fourth quarter, even with a year ago, as a 6 percent increase at Dover was negated by a 23 percent decline at Creative […]
Barnes & Noble Ships Nook Color A Little Early, to Generally Good Reviews
Barnes & Noble has started fulfilling preorders for the new Nook Color a few days ahead of schedule with units starting to arrive today. Demonstration devices and “very limited quantities of devices available for purchase” will start showing up in Barnes & Noble, Best Buy, Walmart and Books-A-Million stores “beginning this week.” At least a few review units have been distributed, with tech sites posting their appraisals this morning. So far the write-ups are generally quite positive. Engadget calls it “definitely a major step forward,” saying “the Nook Color is an elegantly, thoughtfully designed piece of technology.” On the basics […]
Prebich Reported Out At Ailing Dorchester, and More People News, Etc.
Former employees of Dorchester report that ceo John Prebich (who also ran the company’s magazine division, Dorchester Media) left the company on Friday. Queries to Prebich and other remaining employees were not answered. Rob Crawford will join The Overlook Press as editor on November 29. He has been an assistant editor at Harper. Nicholas Brealey Publishing has hired Hillary Park as publicist. She has formerly worked as associate publicist at Putnam and Riverhead and event marketing manager for Borders. The company has also partnered with Shelton Interactive to develop a new social media platform and website, and is working with […]