Amazon.com held up well enough in their fiscal third quarter, which ended September 30, recording another healthy increase in sales of 31 percent to $4.26 billion (with an $80 million boost due to favorable currency exchange). Operating income rose 26 percent to $154 million. The sales number was in line with analysts’ expectations but the income figure fell well short. Of greater concern to markets is Amazon’s reduced guidance for the fourth quarter. Sales are projected to fall between $6 billion and $7 billion (an increase of between 6 percent and 23 percent), and operating income is projected to range […]
Let's Play the Amazon Guessing Game
How can we get a handle on what Amazon’s mysterious Kindle statistic–a unit-based percentage of a percentage of titles, where books comprise an unspecified percentage of overall media sales–actually looks like? Given all the variables it’s very hard, but below is one potential formula, and you can adjust the assumptions as you wish. As reported above, North American sales for all media for the quarter were $1.245 billion. At the closest roughly comparable businesses, Barnes & Noble and Borders, book sales tend to comprise 70 to 60 percent of total sales. Let’s be conservative and start with 70 percent, which […]
Redstone Sale? "Not a Chance"
The scrappy billionaire tells the WSJ there’s “not a chance” he would sell CBS or Viacom to alleviate his debt issues as he struggles to restructure $1.6 billion in loans. “Redstone ruled out selling any shares in either of the two companies he controls, even if negotiations with lenders about a debt restructuring turn sour. Mr. Redstone acknowledged there is ‘no guarantee’ those negotiations will result in a deal, but he described them as ‘extremely constructive.'” He adds: “I will not sell Viacom and I will not sell CBS. They’re two great companies.” Plus: “We have no intention to sell […]
How Badly Does Reed Need RBI Sale?
The longer the auction for the Reed Business Information goes on, the more the reported price drops, as the economy continues to slide. The latest rumor in the British media has the offering prices heading below 1 billion pounds, against an initial valuation of at least 1.25 billion pounds. The three bidders left are Bain Capital, TPG and Strauss Zelnick. One person involved in the deal tells the FT, “Reed Elsevier won’t sell at any price but buyers can’t ignore what they are hearing and seeing in the marketplace.” Plus, “Just how much below £1bn remains to be seen.” But […]
German Publisher Will Issue Complete Works of Pope
Germany’s Herder will publish The Complete Works of Joseph Ratzinger in a 16-book series, according to Bishop Gerhard Muller of Regensburg. The Catholic News Service says “Bishop Muller said the pope wants to make it clear that the works, almost all of which were completed before his election in 2005, reflect his personal theological thought and not the magisterial teaching of the church.” Director of the Vatican Publishing House Father Giuseppe Costa “said discussions already are under way with the U.S.-based Ignatius Press to publish English translations of the volumes.” CNS
People and More
Laetitia Rutherford is leaing Tody Eady Associates after five years to joing Mulcahy Conway Associates as an agent, starting November 1. I gave the wrong link for the promotional letter at Amazon UK from Harper UK ceo Victoria Barnsley: it’s been featured on the books home page, not the general home page, at www.amazon.co.uk/books History and military publisher and distributor Casemate will distribute recent start-up history publisher Amberley Publishing as November 1 in the UK and the US. “With a team already numbering 16 and shortly increasing to 30, Amberley will provide a fresh approach to local and specialist history […]