Des Higgins, who has been head of Bonnier Publishing since 2005, will leave for “a fresh challenge.” Chief finance officer Richard Johnson will serve as interim CEO. He says, “Bonnier has been been on a considerable growth path in English speaking markets – the brief is just to continue with that growth strategy.”Bookseller
Lunch Weekly for Monday, March 30
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 Kelly O’Connor McNees’s THE LOST SUMMER OF LOUISA MAY ALCOTT, imagining […]
Children's Booksellers Organization Considers Relationship with ABA
The Association of Booksellers for Children told members via e-mail that at a recent planning retreat the board decided to take “proactive” steps to ensure the organization’s long-term survival that may include “pool[ing] our resources with our sister association, the American Booksellers Association.” The options “include becoming a division of ABA, a department of ABA, or another configuration that we haven’t determined yet. This would have the advantage of giving ABC the resources of a larger organization while expanding the programming available to all ABA members.” ABA board president Gayle Shanks writes that “the ABA Board is excited about exploring […]
Heim to Leave Nelson
EVP and chief publishing officer Tami Heim is leaving Thomas Nelson after four years, as part of an executive organization. Designed to “more tightly align sales, marketing, and publishing, while placing product development directly under [the] oversight” of ceo Michael Hyatt, chief sales officer Mark Schoenwald moves up to president a chief operating officer. Schoenwald’s focus on day-to-day operations will allow Hyatt “to concentrate on the publishing products” and “be more intimately involved with author acquisitions, author relations, and product development.” Hyatt explains further on his blog. Separately, Boston Globe books reporter Dave Mehegan discussed with The Phoenix his decision […]
Albom Nonfiction Set for September
Mitch Albom has delivered the manuscript for HAVE A LITTLE FAITH: A True Story of a Last Request, for publication this September. “It all started with the question: How does a nonreligious person like me do a eulogy?” It is his first work of nonfiction since the 1997 bestseller TUESDAYS WITH MORRIE. The Detroit Free Press reports, “Albom explains there are three central characters: One is an inner-city pastor who was a criminal in Detroit before turning his life around and taking over a church that helps homeless people. The second character is a 90-year-old rabbi from the suburbs of […]
Ratings Cuts for Bertelsmann and Scholastic
Moody’s Investors Service lowered its ratings outlook on Bertelsmann, citing the advertising-market slump, waning consumer spending, weakening sales in the company’s book-publishing and magazine segments and the expectation of “further declines” this year. The ratings service expressed worries about the company’s ability to control debt that could “well come under additional pressure in 2009 given the difficult operating environment,” Nonetheless, Moody’s said Bertelsmann has “adequate” liquidity to meet its near-term needs.WSJ Separately, Standard & Poor’s reduced their rating on Scholastic to “BB-” last week, a day after Moody’s also downgraded the publisher’s debt. S&P credit analyst Tulip Lim said the […]