Finance

Macmillan Acquires Cookstr
January 7, 2014

Macmillan has acquired cookbook and recipe Web site Cookstr. Founded in 2008 by Katie Workman and Will Schwalbe, Cookstr has reached as many as eight million unique visitors a month via its own consumer-facing recipe web site, as well as powering recipe searches in partnership with other organizations. Terms of the deal were not disclosed. Schwalbe, formerly senior v-p and editor-in-chief of Hyperion Books, and at William Morrow and Company, will stay on to lead Cookstr, as well as assuming the additional role of v-p of editorial development and content innovation for Macmillan.

Press Release: Scholastic Reports Fiscal 2014 Second Quarter Results
December 19, 2013

New York December 19, 2013 - Scholastic Corporation (NASDAQ: SCHL), the global children's publishing, education and media company, today reported results for the fiscal 2014 second quarter ended November 30, 2013. Revenue in the second quarter was $623.2 million, compared to $613.5 million a year ago.  The Company reported second quarter earnings per diluted share from continuing operations of $1.80, versus $1.91 in the prior year period. 

Lagardere Announces Third Quarter Results
November 12, 2013

Lagardère released its 2013 third quarter results today. Highlights of the company's performance are as follows: At Hachette Book Group:  US sales were up 11% in "a particularly dynamic" third quarter, notes Lagardère's press release.  HBG had 191 print and 73 ebooks on the New York Times bestseller list thus far in 2013, with 45 #1 bestsellers to date, a 45% increase over the same period last year. 

HMH Sets Terms for $274 Million IPO
November 1, 2013

Houghton Mifflin Harcourt, which is a leading global publisher of educational content, primarily K-12, announced terms for its IPO on Friday. The Boston, MA-based company plans to raise $274 million by offering 18.3 million shares (100% insider) at a price range of $14 to $16. At the midpoint of the proposed range, Houghton Mifflin Harcourt would command a fully diluted market value of $2.1 billion.

Bloomsbury Results Show Ebook Contribution Growing
October 28, 2013

Strong financial performance at the UK's Bloomsbury Publishing shows both the contribution of ebooks to overall profits and sales at one typical modern publishing house, and the way in which the industry as a whole has evolved and adjusted over the past five years. Tipped by the UK's Daily Telegraph to rise in value due to its strong stock levels and 33 percent profit rise just announced in half-year results, as well as a "77 percent increase in Adult division adjusted operating profit"

Torstar Profit Plunges 44 Percent
August 5, 2013

Declining print revenue at its newspapers and fewer readers for its Harlequin novels pushed profit at Torstar Corp. 44 per cent lower in its last quarter. "It was a difficult quarter as decline in results were experienced in both the book publishing and media divisions," chief executive officer David Holland said in a statement. "Management of costs remains a priority and helped to mitigate the impact of the revenue decline experienced in the quarter."

Will Barnes and Noble Be Around In Five Years?
July 2, 2013

Is there a future for a Nook-nicked Barnes & Noble? The retailer’s plan to stop making its Nook color tablets revived questions about the long-term viability of the last remaining national bookseller that’s been feverishly trying to reinvent itself amid game changing Amazon.com AMZN +0.35%.


Yes, the news that Barnes & Noble will turn over the production of its color — versus its black-and-white — Nook to a yet-to-be-named third party player signals that the chain has lost the tablet wars to Amazon’s Kindle and the Apple AAPL +1.39% iPad.

Sound Off: Is the sky really falling on NOOK?
June 26, 2013

Admittedly, yesterday's news could have been much better. In some alternate reality, William Lynch could have gotten on that earnings call and announced that things were so smashingly good for the NOOK tablet business that Barnes & Noble was stepping up production and launching bigger (NOOK HD+ LANDSCAPE)  and smaller (THE POCKET NOOK!) versions.

But in this reality, Lynch announced that competing with the likes of Amazon and Apple in the tabletsphere was not working for the retailer, and that while it would continue to manufacture its popular NOOK eInk e-readers (Simple Touch & w/GlowLight) and develop NOOK apps for other devices, B&N would cease manufacturing NOOK tablets and look for a third-party partner to license and manufacture co-branded NOOK tablets.

The Apple e-book antitrust case: The final four days
June 17, 2013

Eddy Cue, the alleged "ringmaster" of a conspiracy to raise e-book prices in 2010, returns to a Manhattan federal court Monday in the final four days of the Department of Justice's antitrust case against Apple (AAPL).

Having sailed through a grilling Thursday by the government's lawyer, the star witness of U.S.A. v. Apple will complete the friendly questioning that Apple's chief counsel began Thursday afternoon.

Among the topics they are expected to cover Monday are a dinner with Macmillan's CEO that the government finds suspicious and a "smoking gun" e-mail from Steve Jobs