Hi Everyone,
The big news this week is that across the globe, the percentage of people purchasing books online is climbing. The not-so-good news for Americans is that the biggest growth happened overseas while the market universe in the U.S. lagged behind. The growth in foreign markets is probably why Penguin has decided to publish its line of classics in Korea. Interestingly, Penguin Canada is restructuring its editorial department and is about to launch a "custom publishing" unit, details for which are still not available.
Another key announcement this week was the surprise departure of the CEO of Borders UK. Read full details at the link below.
By the way, be sure to catch the audio interview February 1, 2008 for Beautiful Children, Charles Bock's debut novel from Random House.
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LATEST NEWS
SEATTLE/1/31/2008--Amazon announced today that it will acquire Audible, Inc., largest provider of digital audio downloads in the U.S. Amazon is expected to close the estimated $300 million deal in the second quarter.
Yesterday, Amazon announced financial results for the fourth quarter and year ended December 31, 2007. Operating cash flow was $1.41 billion in 2007, compared with $0.70 billion in 2006. Free cash flow increased 143% to $1.18 billion in 2007, compared with $0.49 billion in 2006.
Net income increased 112% to $207 million in the fourth quarter, or $0.48 per diluted share, compared with net income of $98 million, or $0.23 per diluted share, in fourth quarter 2006.
"This quarter showed accelerated sales growth and record operating profits," said Jeff Bezos, founder and CEO of Amazon.com. "In our view, these unusual financial results are driven by one thing: continuously improving the customer experience."
Authorlink News Updated Every Thursday
Last Update:
January 31, 2008
- NY Times Bestselling Authors Featured on New Authorlink CelebWire and Global Reader™
- Nielsen Report Shows Book Buying Tops All Internet Transactions
- G.P. Putnam and Web Animators Team Up For Live Web Series
- Penguin to Publish Famous Classics In South Korea
- Penguin Canada Refocuses Fiction Unit, Enters Custom Publishing
- RH Adult Trade Unit Realigns Sales Force
- News Corp, Judith Regan Settle Law Suit
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UK REPORT
in alliance with PUBLISHING NEWS
Updated January 31, 2008
- Borders UK Chief Quits Post In Surprise Departure
- Random House Argues for 15% On eBook Sales
- Woolsworths Manager to Head Book Distribution Arm
- New Film Spurs Penguin Push On Bond Books
Book Sense BestsellersUpdated Weekly
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