NEW YORK, NY (Authorlink News, April 22, 2009)—Mark Gompertz, publishers of the Touchstone/Fireside imprint at Simon & Schuster, has been named to the newly created position of Executive Vice President, Digital Publishing. The announcement was made by Carolyn K. Reidy, president and CEO of Simon & Schuster.
“Simon & Schuster has always been a leader in digital publishing. But to become a truly 21st century publishing company, we must incorporate a digital sensibility into our daily and long-range thought processes, and throughout our entire organization, “ said Reidy. “Our digital efforts cannot be viewed as taking place separately from the rest of our business. As a step toward accomplishing this, I have recently charged each of our publishing units with creating non-traditional projects on a regular basis, and our supply chain team with integrating digital book production into our production and distribution workflow.”
In his new job, Mark will lead and facilitate S&S’s digital publishing efforts, bringing an editorial perspective to work with the company’s imprints, authors, agents, sales and marketing as it develops new business models and new forms in which its content, both original and previously existing, can be exploited digitally.
“As we explore these new digital formats, complications will inevitably ensue, and Mark will help all of us at Simon & Schuster, as well as our authors and our accounts, to find solutions to these complex issues,” added Reidy. “His job will also entail originating and acquiring digital content, developing policies, working out processes, and educating and informing us so we can all learn as we seek new revenue streams. “
Mark brings to the position a lifetime’s worth of editorial and publishing experience. He has since 1993 been the publisher of Touchstone Fireside, and last year added responsibility for Howard Books to his purview. Under Mark, Touchstone Fireside more than doubled in size before it was reconfigured and expanded into hardcover publishing. It has impressively taken Philippa Gregory from book club favorite in paperback original to the status of major hardcover bestselling author. And it has achieved success with titles ranging from the acclaimed works of Ursula Hegi to recent New York Times
bestselling pop culture titles such as THE BRO CODE and NATURALLY THIN by Bethenny Frankel.
As well, Mark is a classic early adapter. Whether it is a DVR, a PDA, or the most recent cell phone or iPod, you can count on Mark to be the first person you know to have the latest in personal technology. I’m sure that this eagerness to embrace the new will serve Mark and Simon & Schuster well in this new position.
Mark will work side by side with Ellie Hirschhorn and the Simon & Schuster Digital staff, whom we rely on for business development; to identify and develop new digital products; to keep us abreast of the latest in cutting-edge technology and online behavior and trends; to build the distribution infrastructure and new SimonandSchuster.com that has made us leaders in the field; to create the overarching digital marketing and syndication programs with external partners that bring our content to the widest possible universe of digital platforms; and to help us to navigate the complex issues raised by new and unfamiliar technologies. They will also work with Mark to flesh out and execute our digital publishing plans. Ellie’s team does a superb job leading our efforts in this arena, and they will continue to use their expertise in the fast-changing digital world, beyond the borders of the publishing industry, to make possible the innovation that will keep us in the forefront of today’s publishing.
Mark’s replacement at Touchstone Fireside will be announced shortly. Please join me in congratulating Mark on his new position.
Wednesday, April 22, 2009
Monday, April 20, 2009
Pulitzer Announces '09 Prize Winners
NEW YORK, NY (Authorlink News, April 20, 2009)--The Pulitzer Prize Board today announced its 2009 winners in Letters at Columbia University. Authors from Random House, Inc. won three of the five Pulitzer categories:
Fiction: OLIVE KITTERIDGE by Elizabeth Strout (Random House)
Biography: AMERICAN LION: Andrew Jackson in the White House by Jon Meacham (Random House)
General Nonfiction: SLAVERY BY ANOTHER NAME: The Re-Enslavement of Black Americans from the Civil War to World War II by Douglas A. Blackmon (Doubleday)
Other winners in the Letters category were:
Drama - Ruined by Lynn Nottage
History - The Hemingses of Monticello: An American Family by Annette Gordon-Reed (W.W. Norton & Company)
Poetry - The Shadow of Sirius by W.S. Merwin (Copper Canyon Press)
In the eleven years since Random House, Inc. came together as a merged company eighteen of our books have won Pulitzers--a feat unmatched by another trade-book publishing company.
Fiction: OLIVE KITTERIDGE by Elizabeth Strout (Random House)
Biography: AMERICAN LION: Andrew Jackson in the White House by Jon Meacham (Random House)
General Nonfiction: SLAVERY BY ANOTHER NAME: The Re-Enslavement of Black Americans from the Civil War to World War II by Douglas A. Blackmon (Doubleday)
Other winners in the Letters category were:
Drama - Ruined by Lynn Nottage
History - The Hemingses of Monticello: An American Family by Annette Gordon-Reed (W.W. Norton & Company)
Poetry - The Shadow of Sirius by W.S. Merwin (Copper Canyon Press)
In the eleven years since Random House, Inc. came together as a merged company eighteen of our books have won Pulitzers--a feat unmatched by another trade-book publishing company.
Thursday, April 09, 2009
Group Protests Google to Justice Depatment
Hi Everyone,
In the news this week, a watchdog group has filed a protest with the Justice Department over the Google settlement with the Authors Guild and the Association of American Publishers. Read this and other news in the headlines this week at www.authorlink.com.
# Group Files Google Settlement Protest With Justice Department
# O'Callaghan Replaces HMH Chief Tony Lucki
# Big Three Bookstore Chains Report Steep Declines
# B&N Gets Creative With Blogs and Video-Audio Channel
# Book Groups Launch New Effort to Amend Patriot Act
In the news this week, a watchdog group has filed a protest with the Justice Department over the Google settlement with the Authors Guild and the Association of American Publishers. Read this and other news in the headlines this week at www.authorlink.com.
# Group Files Google Settlement Protest With Justice Department
# O'Callaghan Replaces HMH Chief Tony Lucki
# Big Three Bookstore Chains Report Steep Declines
# B&N Gets Creative With Blogs and Video-Audio Channel
# Book Groups Launch New Effort to Amend Patriot Act
Wednesday, April 01, 2009
Google Settlement Probed by Columbia Law Center
For more details see www.authorlink.com
Google, authors and publishers recently entered into a settlement agreement in The Authors Guild et al. v. Google Inc., a class action lawsuit brought against Google in connection with its use of copyrighted books in its Book Search feature, and in The McGraw-Hill Companies et al. v. Google Inc., a separate lawsuit by publishers. The settlement, if approved by the court, purportedly will provide new opportunities for authors and publishers to market their works. It will also enhance the public’s ability to search for books and to get partial text displays (and, in the case of many older works, full text displays) at home, at school, and in libraries. At the same time, the settlement may have significant implications for copyright law, competition, research and scholarship.
The settlement creates a complicated and comprehensive plan for:
* copying copyrighted books in the collections of participating libraries, including them in Google’s database, and displaying all or part of them under certain circumstances
* deriving revenues from certain uses of the database and from sales of books
* paying authors and publishers
* creating a Book Rights Registry to facilitate the distribution of revenues to right holders
* opt out by right holders, as well as a mechanism by which participating right holders can limit use of their books
* free public access to Google’s “digital library” from public libraries and universities
The settlement embraces copyrighted works in U.S. libraries, regardless of whether the rightholders are U.S. or foreign nationals, unless the right holders opt out, which they must do by May 5, 2009.
The Kernochan Center for Law, Media and the Arts presented a full-day conference on these topics. The potential long-term implications of the Google settlement for the parties, for other stakeholders whose works are not included in the settlement (e.g., photographers and illustrators), and for the public interest were examined.
Video Recording:
Part 1:
Introduction: June M. Besek, Executive Director, Kernochan Center, Columbia Law School
Legislating Through Settlement: Marybeth Peters, U.S. Register of Copyrights
Competition Issues: Prof. Randal C. Picker, University of Chicago Law School
http://media.law.columbia.edu/kernochan/kernochangoogle090313tape1t.html
Part 2:
Panel: The Future of "Books"
http://media.law.columbia.edu/kernochan/kernochangoogle090313tape2t.html
Moderator: June M. Besek, Executive Director, Kernochan Center, Columbia Law School
Panelists:
Allan R. Adler, Vice President - Legal and Governmental Affairs, Association of American Publishers (AAP)
Niko Pfund, Vice President and Publisher, Trade and Academic Books, Oxford University Press, New York
Richard Sarnoff, Co-Chairman, Bertelsmann, Inc. and President, Bertelsmann Digital Media Investments
Jule Sigall, Senior Policy Counsel/Copyright and Trademark, Microsoft Corp.
Herman Spruijt, President, International Publishers Association
Lois F. Wasoff, Legal Consultant, former Vice President and Corporate Counsel, Houghton Mifflin Company
Part 3:
Panel: Authors and Incentives
http://media.law.columbia.edu/kernochan/kernochangoogle090313tape3t.html
Moderator: Prof. Jane C. Ginsburg, Columbia Law School
Panelists:
Tracey Armstrong, President and CEO, Copyright Clearance Center
Michael J. Boni, partner, Boni & Zack LLC, lead counsel for the Authors Guild and the Author Sub-Class in the Google Settlement
Jan Constantine, General Counsel & Assistant Director of the Authors Guild
Arthur Klebanoff, President of both Scott Meredith Literary Agency and RosettaBooks, an e-book publisher.
Eugene Linden, Author, Winds of Change, The Future and Plain Sight and other books.
Victor S. Perlman, General Counsel and Managing Director, American Society of Media Photographers, Inc. (ASMP)
Part 4:
Panel: The Public Interest
http://media.law.columbia.edu/kernochan/kernochangoogle090313tape4t.html
Moderator: Mary Rasenberger, Counsel, Skadden, Arps, Slate, Meagher & Flom LLP
Panelists:
Jeffrey Cunard, Managing Partner, Washington, D.C. office, Debevoise & Plimpton LLP
Robert Darnton, Carl H. Pforzheimer University Professor and Director of the Harvard University Library
James Grimmelmann, Professor, New York Law School
Alexander Macgillivray, Associate General Counsel for Products and Intellectual Property, Google Inc.
Carol A. Mandel, Dean, Division of Libraries, New York University
Google, authors and publishers recently entered into a settlement agreement in The Authors Guild et al. v. Google Inc., a class action lawsuit brought against Google in connection with its use of copyrighted books in its Book Search feature, and in The McGraw-Hill Companies et al. v. Google Inc., a separate lawsuit by publishers. The settlement, if approved by the court, purportedly will provide new opportunities for authors and publishers to market their works. It will also enhance the public’s ability to search for books and to get partial text displays (and, in the case of many older works, full text displays) at home, at school, and in libraries. At the same time, the settlement may have significant implications for copyright law, competition, research and scholarship.
The settlement creates a complicated and comprehensive plan for:
* copying copyrighted books in the collections of participating libraries, including them in Google’s database, and displaying all or part of them under certain circumstances
* deriving revenues from certain uses of the database and from sales of books
* paying authors and publishers
* creating a Book Rights Registry to facilitate the distribution of revenues to right holders
* opt out by right holders, as well as a mechanism by which participating right holders can limit use of their books
* free public access to Google’s “digital library” from public libraries and universities
The settlement embraces copyrighted works in U.S. libraries, regardless of whether the rightholders are U.S. or foreign nationals, unless the right holders opt out, which they must do by May 5, 2009.
The Kernochan Center for Law, Media and the Arts presented a full-day conference on these topics. The potential long-term implications of the Google settlement for the parties, for other stakeholders whose works are not included in the settlement (e.g., photographers and illustrators), and for the public interest were examined.
Video Recording:
Part 1:
Introduction: June M. Besek, Executive Director, Kernochan Center, Columbia Law School
Legislating Through Settlement: Marybeth Peters, U.S. Register of Copyrights
Competition Issues: Prof. Randal C. Picker, University of Chicago Law School
http://media.law.columbia.edu/kernochan/kernochangoogle090313tape1t.html
Part 2:
Panel: The Future of "Books"
http://media.law.columbia.edu/kernochan/kernochangoogle090313tape2t.html
Moderator: June M. Besek, Executive Director, Kernochan Center, Columbia Law School
Panelists:
Allan R. Adler, Vice President - Legal and Governmental Affairs, Association of American Publishers (AAP)
Niko Pfund, Vice President and Publisher, Trade and Academic Books, Oxford University Press, New York
Richard Sarnoff, Co-Chairman, Bertelsmann, Inc. and President, Bertelsmann Digital Media Investments
Jule Sigall, Senior Policy Counsel/Copyright and Trademark, Microsoft Corp.
Herman Spruijt, President, International Publishers Association
Lois F. Wasoff, Legal Consultant, former Vice President and Corporate Counsel, Houghton Mifflin Company
Part 3:
Panel: Authors and Incentives
http://media.law.columbia.edu/kernochan/kernochangoogle090313tape3t.html
Moderator: Prof. Jane C. Ginsburg, Columbia Law School
Panelists:
Tracey Armstrong, President and CEO, Copyright Clearance Center
Michael J. Boni, partner, Boni & Zack LLC, lead counsel for the Authors Guild and the Author Sub-Class in the Google Settlement
Jan Constantine, General Counsel & Assistant Director of the Authors Guild
Arthur Klebanoff, President of both Scott Meredith Literary Agency and RosettaBooks, an e-book publisher.
Eugene Linden, Author, Winds of Change, The Future and Plain Sight and other books.
Victor S. Perlman, General Counsel and Managing Director, American Society of Media Photographers, Inc. (ASMP)
Part 4:
Panel: The Public Interest
http://media.law.columbia.edu/kernochan/kernochangoogle090313tape4t.html
Moderator: Mary Rasenberger, Counsel, Skadden, Arps, Slate, Meagher & Flom LLP
Panelists:
Jeffrey Cunard, Managing Partner, Washington, D.C. office, Debevoise & Plimpton LLP
Robert Darnton, Carl H. Pforzheimer University Professor and Director of the Harvard University Library
James Grimmelmann, Professor, New York Law School
Alexander Macgillivray, Associate General Counsel for Products and Intellectual Property, Google Inc.
Carol A. Mandel, Dean, Division of Libraries, New York University
Borders Reports Continued
Decline in Book Sales
ANN ARBOR, Mich., March 31, 2009—Borders Group, Inc. reported an 8.8% drop in fiscal 2008 annual sales to $3.2 billion over the previous year, and a 12.9% decline to $1.1 billion for the fiscal fourth quarter ended January 31, 2009. The company managed to reduce year-end debut by $217.8 million or 39.3% over last year.
Comparable store sales for the fourth quarter at Borders superstores declined by 15.3% and fell by 4.7% at Waldenbooks Special Retail stores. For the full year, same-store sales declined by 10.8% at Borders and declined by 5.1% at Waldenbooks.
On a full-year basis, cash flow from operations improved by $128.6 million at year-end as SG&A expenses were reduced by $96.5 million and inventory was reduced by $326.8 million. On an operating basis, the company generated fourth-quarter income from continuing operations of $63.8 million or $1.05 per share compared to income of $74.3.
“Our top priority is getting our financial house in order by continuing to reduce expenses, pay down debt and improve cash flow,” said Borders Group Chief Executive Officer Ron Marshall. “We are working with vendors and others to enhance cooperation and are pleased to have the continued support of our largest shareholder with the recently announced extension of our financing agreement with Pershing Square. At the same time, we are focused on driving sales through improved execution and by re-engaging with our customers. Borders is a strong brand with millions of loyal customers. I am confident that by shoring up our financial foundation and reclaiming our position as the bookseller for serious readers, we will ultimately secure a viable future.”
Consolidated Report
Looking at consolidated performance, total sales at Borders superstores in the fourth quarter were $816.1 million, down 14.8% from a year ago. For the full year, total sales were $2.6 billion, down 9.4% from 2007. In the fourth quarter, comparable store sales decreased by 15.3% at Borders superstores with books generating same-store sales of -11.7% and non-book categories generating same-store sales of -21.1% for the period. For the full year, comparable store sales at Borders stores decreased by 10.8% with books generating same-store sales of -8.2% and non-book categories generating same store sales of -16.1%. Borders.com sales were $26.4 million in the fourth quarter and $45.7 million for 2008, which included eight months of operation.
Operating income on an operating basis in the fourth quarter was $86.5 million compared to $102.1 million for the same period a year ago. On a GAAP basis, operating income in the fourth quarter was $17.1 million compared to $87.4 million the prior year. For the full year, operating income on an operating basis was $17.7 million compared to $56.9 million in 2007. On a GAAP basis, there was an operating loss of $100.9 million compared to income of $30.6 million in 2007.
The company opened one new Borders superstore in the U.S. during the fourth quarter and closed five, ending fiscal 2008 with a total of 515 superstore locations.
Total sales in the fourth quarter at Waldenbooks Specialty Retail stores were $195.6 million, a 14.3% decline compared to the same period in 2007. For the full-year, total segment sales were $480 million, a decline of 14.7% from the prior year. Comparable store sales in the fourth quarter decreased by 4.7% and decreased by 5.1% for the full year.
In the fourth quarter, on an operating basis, operating income was $16.0 million compared to operating income of $26.5 million for the same period in 2007. On a GAAP basis, operating income was $11.5 million compared to $25.5 million for the same period in 2007. For the full year, on an operating basis, the operating loss was $16.7 million compared to an operating loss of $17.3 million for the same period in 2007. On a GAAP basis, the full year operating loss was $27.5 million compared to an operating loss of $21.4 million for the same period in 2007.
The company closed 84 Waldenbooks Specialty Retail locations in the fourth quarter, bringing the fiscal 2008 closure total to 112. Borders Group ended fiscal 2008 with a total of 386 locations in this segment.
International
Total sales within the International segment (which consists primarily of Paperchase) totaled $43.2 million in the fourth quarter, which is down by 21.7% compared to a year ago. Excluding the impact of foreign currency translation, segment sales would have increased by 0.2% for the period. For the full-year, International sales were $136.7 million, down by 5.8% compared to 2007. Excluding the impact of foreign currency translation, sales would have increased by 4.7% for the year.
Outlook
“In this economy, we expect sales trends to continue to be negative throughout 2009 and will manage the business accordingly,” said Marshall. “We have planned only minimal capital expenditures and will continue to hold the line on our deeply reduced cost structure while remaining engaged with our vendors and others as we work to get the company on more firm financial footing. In addition, our efforts to drive the top line and improve margins will continue to intensify as we move forward.”
Borders Group plans to issue fiscal first quarter 2009 results May 26 after market close with a conference call for investors the following day, May 27, at 8 a.m. Eastern.
Headquartered in Ann Arbor, Mich., Borders Group, Inc. (NYSE: BGP) is a leading retailer of books, music and movies with more than 25,000 employees. Through its subsidiaries, the company operates approximately 1,000 stores worldwide primarily under the Borders® and Waldenbooks® brand names. For online shopping, visit Borders.com. For more information about the company, visit www.borders.com/media.
Comparable store sales for the fourth quarter at Borders superstores declined by 15.3% and fell by 4.7% at Waldenbooks Special Retail stores. For the full year, same-store sales declined by 10.8% at Borders and declined by 5.1% at Waldenbooks.
On a full-year basis, cash flow from operations improved by $128.6 million at year-end as SG&A expenses were reduced by $96.5 million and inventory was reduced by $326.8 million. On an operating basis, the company generated fourth-quarter income from continuing operations of $63.8 million or $1.05 per share compared to income of $74.3.
“Our top priority is getting our financial house in order by continuing to reduce expenses, pay down debt and improve cash flow,” said Borders Group Chief Executive Officer Ron Marshall. “We are working with vendors and others to enhance cooperation and are pleased to have the continued support of our largest shareholder with the recently announced extension of our financing agreement with Pershing Square. At the same time, we are focused on driving sales through improved execution and by re-engaging with our customers. Borders is a strong brand with millions of loyal customers. I am confident that by shoring up our financial foundation and reclaiming our position as the bookseller for serious readers, we will ultimately secure a viable future.”
Consolidated Report
Looking at consolidated performance, total sales at Borders superstores in the fourth quarter were $816.1 million, down 14.8% from a year ago. For the full year, total sales were $2.6 billion, down 9.4% from 2007. In the fourth quarter, comparable store sales decreased by 15.3% at Borders superstores with books generating same-store sales of -11.7% and non-book categories generating same-store sales of -21.1% for the period. For the full year, comparable store sales at Borders stores decreased by 10.8% with books generating same-store sales of -8.2% and non-book categories generating same store sales of -16.1%. Borders.com sales were $26.4 million in the fourth quarter and $45.7 million for 2008, which included eight months of operation.
Operating income on an operating basis in the fourth quarter was $86.5 million compared to $102.1 million for the same period a year ago. On a GAAP basis, operating income in the fourth quarter was $17.1 million compared to $87.4 million the prior year. For the full year, operating income on an operating basis was $17.7 million compared to $56.9 million in 2007. On a GAAP basis, there was an operating loss of $100.9 million compared to income of $30.6 million in 2007.
The company opened one new Borders superstore in the U.S. during the fourth quarter and closed five, ending fiscal 2008 with a total of 515 superstore locations.
Total sales in the fourth quarter at Waldenbooks Specialty Retail stores were $195.6 million, a 14.3% decline compared to the same period in 2007. For the full-year, total segment sales were $480 million, a decline of 14.7% from the prior year. Comparable store sales in the fourth quarter decreased by 4.7% and decreased by 5.1% for the full year.
In the fourth quarter, on an operating basis, operating income was $16.0 million compared to operating income of $26.5 million for the same period in 2007. On a GAAP basis, operating income was $11.5 million compared to $25.5 million for the same period in 2007. For the full year, on an operating basis, the operating loss was $16.7 million compared to an operating loss of $17.3 million for the same period in 2007. On a GAAP basis, the full year operating loss was $27.5 million compared to an operating loss of $21.4 million for the same period in 2007.
The company closed 84 Waldenbooks Specialty Retail locations in the fourth quarter, bringing the fiscal 2008 closure total to 112. Borders Group ended fiscal 2008 with a total of 386 locations in this segment.
International
Total sales within the International segment (which consists primarily of Paperchase) totaled $43.2 million in the fourth quarter, which is down by 21.7% compared to a year ago. Excluding the impact of foreign currency translation, segment sales would have increased by 0.2% for the period. For the full-year, International sales were $136.7 million, down by 5.8% compared to 2007. Excluding the impact of foreign currency translation, sales would have increased by 4.7% for the year.
Outlook
“In this economy, we expect sales trends to continue to be negative throughout 2009 and will manage the business accordingly,” said Marshall. “We have planned only minimal capital expenditures and will continue to hold the line on our deeply reduced cost structure while remaining engaged with our vendors and others as we work to get the company on more firm financial footing. In addition, our efforts to drive the top line and improve margins will continue to intensify as we move forward.”
Borders Group plans to issue fiscal first quarter 2009 results May 26 after market close with a conference call for investors the following day, May 27, at 8 a.m. Eastern.
Headquartered in Ann Arbor, Mich., Borders Group, Inc. (NYSE: BGP) is a leading retailer of books, music and movies with more than 25,000 employees. Through its subsidiaries, the company operates approximately 1,000 stores worldwide primarily under the Borders® and Waldenbooks® brand names. For online shopping, visit Borders.com. For more information about the company, visit www.borders.com/media.
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