Borders Files, with Added Info on Cash Shortage London happenings notwithstanding, the top story on our running radar has been the perilous position of Borders. Yesterday the company lifted the veil slightly on their finances in filing their delayed 10-k, the long version of a company’s annual statistics filed with the SEC. The short take is that Wall Street has knocked the stock down about another 6 percent in today’s trading, though markets are still open. The filing is long roster of financial fine print, but in broad strokes it paints a fuller picture of a company that’s steadily running […]

Macmillan Drops Andrew Morton’s Tom Cruise in UK In the UK Macmillan will not publish Andrew Morton’s biography of Tom Cruise. A spokesperson tells the Telegraph, “Cruise had so many complaints that by the time our lawyers had been through it, there was nothing left but red ink. We have explored every possible option, but have concluded that once the potentially defamatory sections are taken out, there is not enough left to make a good read. Understandably, Andrew is very upset, but apparently he thinks that he may have more luck with another publisher. Good luck to him.” Telegraph Also […]

Penguin’s Knack with Breakout Paperbacks The AP celebrates “those paperback sensations” that come every year from the likes of Sue Monk Kidd, Khaled Hosseini, Kim Edwards, Elizabeth Gilbert, and now Greg Mortenson and David Oliver Relin. (Their five books in paperback have sold a total of 13 million copies tracked by Bookscan alone.) “They don’t appear to have a lot in common except that none has won major awards or sold brilliantly in hardcover or was written by anyone famous. It could be explained as coincidence but for one important connection—the publisher: Penguin Group.” The article says: “Relying on luck, […]

Janson-Smith “Tempted” Back to Publishing After a short walk on the agenting side, Patrick Janson-Smith is joining Harper UK to launch a new commercial imprint, Blue Door, “focusing primarily on fiction.” Part of Press Books, he will report to managing director John Bond. Janson-Smith remarks, “Being given one’s own imprint is not only a great honor, it’s also a challenge; one to which I have every intention of rising.” He was publisher of the UK’s Transworld from 1981 to 2005, when he left to join the Christopher Little Agency — which he departed last year November, initially to form his […]

Another Boss Quits Pan Macmillan managing director David North is leaving at the end of this week after eight years with the company. He remarks: “I leave the company in great strength coming off the back of a record sales year and a strong first quarter performance. Pan Macmillan is set for an exciting future and I wish them every success.” The company quickly named former Penguin UK executive Anthony Forbes Watson as interim managing director, starting May 1. Macmillan ceo Annette Thomas he “will create a stable and smooth transition period until a permanent appointment is made.” More Personnel […]