After widespread backlash from authors' organizations, Harlequin has changed the name of its new self-publishing imprint from Harlequin Horizons to DellArte Press, and does not mention the imprint on its website.
Harlequin publisher and CEO Donna Hayes said last week that the company would immediately rename Horizons in the wake of objections from Romance Writers of America and other writing organizations.
See more about the issue on this blog or on Authorlink.
Wednesday, November 25, 2009
Monday, November 23, 2009
Harlequin Self-Publishing Imprint Sparks Controversy
TORONTO (AUTHORLINK NEWS, November 23, 2009)--Harlequin, the world’s leading publisher of romance novels, has raised a firestorm over the launch of its new self-publishing imprint, Harlequin Horizons, in conjunction with Author Solutions, Inc. (ASI), the world’s leading self-publisher. Aspiring authors can now pay $599 to have their work published under the imprint.
In its announcement, Harlequin touted the self-publishing venture as “an accessible opportunity for emerging authors to bring themselves to the attention of the reading public.” But the move has caused outrage in the writing community.
The Romance Writers of America said it will bar Harlequin from favored-publisher privileges at next year's national convention, and the Science Fiction Writers of America issued a statement saying that no titles from any Harlequin imprint would qualify for membership in SFWA. " Mystery Writers of America also indicated it might take similar action, but will give Harlequin a month to answer questions, according to a statement on the SFWA site.
Donna Hayes, Publisher and CEO of Harlequin Enterprises, issued a statement today expressing disappointment that Romance Writers of America first approached is members over the issue rather than "allowing Harlequin to respond or engage in a discussion about it with the RWA board."
In response to the controversy, Ms. Hayes announced that "we are changing the name of the self-publishing company from Harlequin Horizons to a designation that will not refer to Harlequin in any way. We will initiate this process immediately."
Ms. Hayes said that “It is disappointing that the RWA has not recognized that publishing models have and will continue to change. As a leading publisher of women's fiction in a rapidly changing environment, Harlequin's intention is to provide authors access to all publishing opportunities, traditional or otherwise.”
(Editor's note: We welcome blog reader comments on this issue. See this and other news stories updated each Thursday on Authorlink.
In its announcement, Harlequin touted the self-publishing venture as “an accessible opportunity for emerging authors to bring themselves to the attention of the reading public.” But the move has caused outrage in the writing community.
The Romance Writers of America said it will bar Harlequin from favored-publisher privileges at next year's national convention, and the Science Fiction Writers of America issued a statement saying that no titles from any Harlequin imprint would qualify for membership in SFWA. " Mystery Writers of America also indicated it might take similar action, but will give Harlequin a month to answer questions, according to a statement on the SFWA site.
Donna Hayes, Publisher and CEO of Harlequin Enterprises, issued a statement today expressing disappointment that Romance Writers of America first approached is members over the issue rather than "allowing Harlequin to respond or engage in a discussion about it with the RWA board."
In response to the controversy, Ms. Hayes announced that "we are changing the name of the self-publishing company from Harlequin Horizons to a designation that will not refer to Harlequin in any way. We will initiate this process immediately."
Ms. Hayes said that “It is disappointing that the RWA has not recognized that publishing models have and will continue to change. As a leading publisher of women's fiction in a rapidly changing environment, Harlequin's intention is to provide authors access to all publishing opportunities, traditional or otherwise.”
(Editor's note: We welcome blog reader comments on this issue. See this and other news stories updated each Thursday on Authorlink.
Tuesday, November 17, 2009
Barnes and Noble Heads Off a Stock Takeover?
ADVANCE NEWS BREAK
New York, NY (Authorlink News, November 18, 2009)--Barnes & Noble’s board of directors yesterday approved the adoption of a Stockholder Rights Plan (the "Rights Plan") under which stockholders will receive rights to purchase shares of a new series of preferred stock in certain circumstances.
The new plan comes in the same week that Goldman Sachs reiterated its “Sell” rating on shares of Barnes & Noble stocks when American business billionaire Ron Burkle doubled his stake in the company from 8% to 17%. (See Goldman Sachs Leary of Barnes & Noble Stock)
The Board said in a press release that it adopted the Rights Plan “in response to the recent rapid accumulation of a significant portion of Barnes & Noble's outstanding common stock. The Rights Plan is intended to protect the Company and its stockholders from efforts to obtain control of the Company that are inconsistent with the best interests of the Company and its stockholders.”
Consistent with Barnes & Noble's commitment to good corporate governance, the rights will expire in three years and the Company intends to submit the Rights Plan for stockholder ratification within 12 months.
Under the terms of the Rights Plan, the rights will expire on November 17, 2012. The rights will be exercisable if a person or group, without Board approval, acquires 20% or more of Barnes & Noble's common stock or announces a tender offer which results in the ownership of 20% or more of Barnes & Noble's common stock. The rights also will be exercisable if a person or group that already owns 20% or more of Barnes & Noble common stock, without Board approval, acquires any additional shares (other than pursuant to Barnes & Noble's compensation or benefit plans). If the rights become exercisable, all rights holders (other than the person triggering the rights) will be entitled to acquire Barnes & Noble's common stock at a 50% discount.
The rights will trade with Barnes & Noble's common stock, unless and until they are separated upon the occurrence of certain future events. Barnes & Noble's Board may terminate the Rights Plan or redeem the rights prior to the time the rights are triggered. Further details of the Rights Plan will be contained in a Form 8-K to be filed with the Securities and Exchange Commission.
Barnes & Noble, Inc. (NYSE: BKS), the world's largest bookseller and a Fortune 500 company, operates 774 bookstores in 50 states.
New York, NY (Authorlink News, November 18, 2009)--Barnes & Noble’s board of directors yesterday approved the adoption of a Stockholder Rights Plan (the "Rights Plan") under which stockholders will receive rights to purchase shares of a new series of preferred stock in certain circumstances.
The new plan comes in the same week that Goldman Sachs reiterated its “Sell” rating on shares of Barnes & Noble stocks when American business billionaire Ron Burkle doubled his stake in the company from 8% to 17%. (See Goldman Sachs Leary of Barnes & Noble Stock)
The Board said in a press release that it adopted the Rights Plan “in response to the recent rapid accumulation of a significant portion of Barnes & Noble's outstanding common stock. The Rights Plan is intended to protect the Company and its stockholders from efforts to obtain control of the Company that are inconsistent with the best interests of the Company and its stockholders.”
Consistent with Barnes & Noble's commitment to good corporate governance, the rights will expire in three years and the Company intends to submit the Rights Plan for stockholder ratification within 12 months.
Under the terms of the Rights Plan, the rights will expire on November 17, 2012. The rights will be exercisable if a person or group, without Board approval, acquires 20% or more of Barnes & Noble's common stock or announces a tender offer which results in the ownership of 20% or more of Barnes & Noble's common stock. The rights also will be exercisable if a person or group that already owns 20% or more of Barnes & Noble common stock, without Board approval, acquires any additional shares (other than pursuant to Barnes & Noble's compensation or benefit plans). If the rights become exercisable, all rights holders (other than the person triggering the rights) will be entitled to acquire Barnes & Noble's common stock at a 50% discount.
The rights will trade with Barnes & Noble's common stock, unless and until they are separated upon the occurrence of certain future events. Barnes & Noble's Board may terminate the Rights Plan or redeem the rights prior to the time the rights are triggered. Further details of the Rights Plan will be contained in a Form 8-K to be filed with the Securities and Exchange Commission.
Barnes & Noble, Inc. (NYSE: BKS), the world's largest bookseller and a Fortune 500 company, operates 774 bookstores in 50 states.
Monday, November 16, 2009
Justice Department Continues to Probe Google Settlement
The revised Google settlement submitted to Court this past Friday is not likely to end the fight over the case, according to The Wall Street Journal (November 16, 2009, p.B1).
The most recent revisions would allow Google to distribute millions of digital books online, but would cut the number of works covered by the settlement by at least half by removing millions of foreign titles.
At issue, however, is whether it is fair to let Google distribute books whose legal rights owners haven’t been identified—called orphan works.
The Justice Department had asked U.S. District Court Judge Denny Chin to delay a hearing until lawyers for Google, Inc., the Association of American Publishers and Authors Guild, who designed the settlement, addressed its concerns. According to The Journal, the Justice Department remains concerned over the fact that the settlement gives Google immunity from lawsuits related to orphan works, a practice that may be anticompetitive. The department is expected to file its reaction to the modified agreement by early next year.
The Justice Department told The Journal that the department is reviewing the revisions and that its investigation into the settlement is “on-going.”
The new settlement keeps the same structure, but makes a number of changes, including adding more pricing options to address concerns about potential price fixing, and clarifying what sort of services Google can offer related to digital books.
Judge Chin is expected this week to set a timetable for objections to the settlement’s modifications.
The most recent revisions would allow Google to distribute millions of digital books online, but would cut the number of works covered by the settlement by at least half by removing millions of foreign titles.
At issue, however, is whether it is fair to let Google distribute books whose legal rights owners haven’t been identified—called orphan works.
The Justice Department had asked U.S. District Court Judge Denny Chin to delay a hearing until lawyers for Google, Inc., the Association of American Publishers and Authors Guild, who designed the settlement, addressed its concerns. According to The Journal, the Justice Department remains concerned over the fact that the settlement gives Google immunity from lawsuits related to orphan works, a practice that may be anticompetitive. The department is expected to file its reaction to the modified agreement by early next year.
The Justice Department told The Journal that the department is reviewing the revisions and that its investigation into the settlement is “on-going.”
The new settlement keeps the same structure, but makes a number of changes, including adding more pricing options to address concerns about potential price fixing, and clarifying what sort of services Google can offer related to digital books.
Judge Chin is expected this week to set a timetable for objections to the settlement’s modifications.
Thursday, November 05, 2009
Waldenbooks to Downsize in 2010
ANN ARBOR, Mich. (Authorlink News, Nov. 5, 2009)—As part of Borders Group’s ongoing strategy to right-size its Waldenbooks Specialty Retail segment and emerge with a smaller, more profitable mall chain in fiscal 2010, the retailer will close approximately 200 mall stores in January, leaving approximately 130 mall-based locations open. A list of mall stores expected to close is included in this news release and has been posted at www.borders.com/waldenstorelist. The list is not final and is subject to change pending finalization of agreements over the coming weeks. Importantly, today’s announcement regarding the mall business does not include Borders superstores or the company’s seasonal mall kiosk business, which includes over 500 Day by Day Calendar Co. units, among other mall-based retail concepts.
“America has a number of malls that continue to do well and draw customer traffic even in the current economy,” said Borders Group Chief Executive Officer Ron Marshall. “We believe there remains an opportunity to profitably operate a much smaller Waldenbooks segment that complements our core Borders superstore business and continues to serve readers in their communities. Through this right-sizing, we will reduce the number of stores with operating losses, reduce our overall rent expense and lease-adjusted leverage and generate cash flow through sales and working capital reductions.”
As long as the stores remain open, all will honor previously purchased gift cards, and gift cards can continue to be used in any Borders or Waldenbooks location or online at Borders.com. There will be no change in member status for customers who joined the Borders Rewards customer loyalty program at locations slated to close.
Stores that remain open will be integrated into the Borders superstore computer system, an investment Borders Group is making to merge all stores to a single platform. This is expected to produce operating efficiencies as well as benefits for mall shoppers, including enhanced store staff capabilities to search for and fulfill customer requests.
With the store closings in January, approximately 1,500 positions—the majority of which are part-time jobs—will be eliminated. Employees have been informed of the right-sizing plan and efforts will be made to place qualified individuals in other positions within Borders Group. Displaced employees will receive severance.
The mall-based right-sizing initiative has been ongoing at Borders Group for a number of years as the retailer has closed underperforming Waldenbooks Specialty Retail stores annually as part of its overall turnaround strategy. The company shuttered 112 stores in the segment in fiscal 2008 and from fiscal 2001 through 2007, closed an average of 66 stores per year within the Waldenbooks Specialty Retail segment.
About Borders Group, Inc.
Headquartered in Ann Arbor, Mich., Borders Group, Inc. (NYSE: BGP) is a leading specialty retailer of books as well as other educational and entertainment items. The company employs approximately 25,000 throughout the U.S., primarily in its Borders® and Waldenbooks® stores.
“America has a number of malls that continue to do well and draw customer traffic even in the current economy,” said Borders Group Chief Executive Officer Ron Marshall. “We believe there remains an opportunity to profitably operate a much smaller Waldenbooks segment that complements our core Borders superstore business and continues to serve readers in their communities. Through this right-sizing, we will reduce the number of stores with operating losses, reduce our overall rent expense and lease-adjusted leverage and generate cash flow through sales and working capital reductions.”
As long as the stores remain open, all will honor previously purchased gift cards, and gift cards can continue to be used in any Borders or Waldenbooks location or online at Borders.com. There will be no change in member status for customers who joined the Borders Rewards customer loyalty program at locations slated to close.
Stores that remain open will be integrated into the Borders superstore computer system, an investment Borders Group is making to merge all stores to a single platform. This is expected to produce operating efficiencies as well as benefits for mall shoppers, including enhanced store staff capabilities to search for and fulfill customer requests.
With the store closings in January, approximately 1,500 positions—the majority of which are part-time jobs—will be eliminated. Employees have been informed of the right-sizing plan and efforts will be made to place qualified individuals in other positions within Borders Group. Displaced employees will receive severance.
The mall-based right-sizing initiative has been ongoing at Borders Group for a number of years as the retailer has closed underperforming Waldenbooks Specialty Retail stores annually as part of its overall turnaround strategy. The company shuttered 112 stores in the segment in fiscal 2008 and from fiscal 2001 through 2007, closed an average of 66 stores per year within the Waldenbooks Specialty Retail segment.
About Borders Group, Inc.
Headquartered in Ann Arbor, Mich., Borders Group, Inc. (NYSE: BGP) is a leading specialty retailer of books as well as other educational and entertainment items. The company employs approximately 25,000 throughout the U.S., primarily in its Borders® and Waldenbooks® stores.
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