Ben Fountain (Devil Makes Three, Billy Lynn's Long Halftime Walk) was awarded the Joyce Carol Oates prize for a mid-career author of fiction.
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Bertelsmann Touts Organic Growth As Overall Sales Fall
Bertelsmann made a brief announcement of financial results for the first quarter, reporting overall sales of €4.3 billion ($4.67 billion), down 9 percent due to the company’s sale of their stake in Majorel. Organic growth was 3.6 percent. “Bertelsmann has gotten off to a good start in fiscal 2024, and is once again experiencing stronger growth from within,” chair and CEO Thomas Rabe said in a release. “We confirm our forecast for the current year.” At Penguin Random House—which was not among the businesses listed as the largest contributors in the quarter—top titles included Ashley Elston’s FIRST LIE WINS, which […]
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Storytel Grows Earnings In Q1
Swedish audiobook company Storytel released results for the first quarter 2024, with sales up 12 percent to SEK891.9 million ($85.8 million). Operating loss improved to SEK24 million, compared to SEK48 million the previous year. EBITDA grew 50 percent to SEK50.9 million, which the company attributed to “strong streaming growth and a reduction of costs as a result of cost efficiency measures” (they reduced the workforce by 13 percent in the quarter). “The first quarter marked another step up in our financial performance as Storytel delivered a strong result with improved profitability and operational cash flow,” CEO Johannes Larcher said in […]
HBG and HBG UK Announce Promotions and Restructuring
HBG announced a number of executive appointments in the US and UK. In the US, Ben Sevier becomes president and publisher, Grand Central Publishing Group. In addition to his current role overseeing Grand Central, Sevier will also now oversee all of Hachette Nashville as well as Hachette Books and Hachette Go. Hachette UK will now be structured into three “core areas of publishing”: adult trade, children’s trade, and education. Katie Espiner will serve as ceo for adult trade; Seshni Jacobs becomes ceo for education, which comprises Hodder Education; and Hilary Murray Hill will continue to lead children’s as ceo. All […]