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 Sidura Ludwig’s HOLDING MY BREATH, a coming-of-age story about a Jewish girl […]

Oprah Picks THE MEASURE OF A MAN, by Sidney Poitier. Creditors Ask Court to Move to Liquidation; Negotiate Perseus Offer The Unsecured AMS Creditors’ Committee has filed a motion asking the court not to approve the company’s debtor-in-possession financing, which they say is unnecessary, and to move instead towards liquidation of the company. “Debtor AMS is hemorrhaging. AMS is unable to buy inventory because publishers will not sell to it. AMS is unable to fill many orders for its customers (the club stores) and many of AMS’s customers have already switched to new distributors to insure a steady supply of […]

Borders Awards; BN’s Next Recommendation Borders announced their Original Voices Award winners: Fiction Kevin Brockmeier’s THE BRIEF HISTORY OF THE DEAD Nonfiction Timothy Egan’s THE WORST HARD TIME: The Untold Story of Those Who Survived the Great American Dust Bowl Picture Book Jane O’Connor and illustrator Robin Preiss Glasser’s FANCY NANCY YA Catherine Murdock’s DAIRY QUEEN Release Meanwhile, BN has made the second selection in their Barnes & Noble Recommends program: Chris Bohjalian’s THE DOUBLE BIND, set for publication on February 13. Their first promotion, for Diane Setterfield’s THE THIRTEENTH TALE, “broke the company’s sales record for a debut novel […]

When Perseus Went to Court A court filing seeking approval for Perseus’s offer with respect to PGW clients  notes that AMS has accounts receivable of $147.5 million — and $72.5 million in inventory that they are now considering an asset. They also cite “valuable collateral including AMS’s interest in foreign subsidiaries, fixed assets and intellectual property.” Some quick math will tell you they own a lot less than they owe, particularly once the fire sale starts. Wells Fargo, for their part, collected $3.9 million in additional “forbearance fees” just for extending their credit line last summer and fall. The filing […]

AMS Updates The bankruptcy court rejected Simon & Schuster’s efforts to reclaim inventory shipped to AMS over the 45-day period prior to their bankruptcy filing. The judge reinforced that the secured creditors — e.g. the banks — have first claim on the inventory, the SD Union Tribune reports. There is a hearing set for January 31 on “Advanced Marketing’s proposal to establish procedures to sell all or part of the company or to find an investor willing to put up new capital or refinance its debt.” Separately, in reporting results for the quarter, Meredith takes a $3 million pre-tax charge […]

PGW Offer Formalized The deal we originally reported on January 12 for Perseus to take over the contracts of most PGW clients has now been formalized, pretty much following the terms we outlined at the time (including the lengthy transition period). Announced/confirmed today, the parties indicate: “The agreement will substantially reduce the claims against the PGW chapter 11 estate while providing the opportunity for PGW clients to continue to receive distribution services and payments they need to continue operating. AMS will file a motion with the bankruptcy court early this week outlining the proposed deal in more detail and seeking […]