USAir Captain Chesley Sullenberger will appear at BEA on Saturday afternoon, speaking from one of the convention’s new floor-based Author Stages and then signing a promotional piece for his forthcoming book from William Morrow. Globe Pequot group publisher Gary Krebs is leaving the company, and will join McGraw-Hill Professional as a group publisher next month. Author of THE MEANING OF NIGHT and THE GLASS OF TIME Michael Cox, 60, died Tuesday morning after a long battle with cancer.
Announcements
Granta continues to revamp their web site, now featuring articles and interviews that will not appear in the print magazine. They have finally added RSS feeds as well. Helen Chase, wife of William Chase and a former editor of Chase’s Calendar of Events died after a battle with Parkinson’s Disease. She co-managed Chase’s Calendar from its inception in 1957 until McGraw-Hill acquired it in 1989, and remained involved in the publishing process “right up until the last day of her life.” On April 6 John Mackey will join Oxford University Press as the Barnes & Noble national accounts manager. He […]
Borders' Sales and Margins Continue to Fall, But At Least their Debt Is Smaller
Fourth quarter sales at Borders were $1.1 billion overall, down 12.9 percent from a year ago. The superstores comprised $816.1 million, down 15.3 percent on a same-store sales basis (and book comps were down 11.7 percent), and 14.8 percent overall. Waldenbooks accounted for $195.6 million in sales, down a more modest 4.7 percent on a same-store basis, and down 14.3 percent overall. International sales added $43.2 million, and Borders.com did $26.4 million in business. The company had net writedowns totaling $34.9 million in the quarter. Goodwill impairment was the largest charge, followed by store closures and severance costs. Adjusted income […]
Pershing Square Gives Borders Another Year
The biggest worry of the year for book publishers has been answered, as Borders appears to have been granted another 12 months to sort itself. Leading shareholder and lender of last resort Pershing Square has extended their $42.5 million term loan to Borders until April 1, 2010. But Pershing has once again won big concessions for that extension: The “put” option to buy the Paperchase chain (which Pershing never wanted to own in the first place) will expire, and the big grants of 14.7 million warrants will be reset from the previous price to $7 a share down to today’s […]
"Final" Robert Jordan Book to be Published in Thirds
Tor announced today that Brandon Sanderson’s much-anticipated completion of the late Robert Jordan’s unfinished final installment of the Wheel of Time series has expanded so much that it will be published in three (sizable) volumes. Having promised fans a book this year, the first part, comprising a manuscript of about 300,000 words, will be published as THE GATHERING STORM on November 3. (The next two volumes are tentatively titled SHIFTING WINDS and TARMON’GAIDON, though Sanderson notes on his blog the title of the first one changed rather quickly. Together the three installments comprise A MEMORY OF LIGHT.) Editor (and Jordan’s […]
Bloomsbury Says It Had A "Strong Performance"
Overall results were down sharply for fiscal 2008 at Bloomsbury due to comparisons to the launch of Harry Potter and the Deathly Hallows, with sales falling by more than a third to 99.95 million pounds, with pre-tax profits of 11.63 million pounds. But the company offers itself long and hearty congratulations as “it re-balances its business in the wake of the Harry Potter phenomenon and of the demands of a global recession.” Units in both the US and Germany improved during the year, with US sales up 29.4 percent to 17.32 million (essentially all due to the decline of the […]