AUTHORLINK NEWS/VIA MARKETNEWSVIDEO.COM/Friday, December 31--Borders Group (NYSE:BGP) has decided to delay payments to some publishers as it continues refinancing talks.
The company announced a wider third-quarter loss and a drop in sales this month. Just days before the announcement, William Ackman offered to finance a Borders bid for Barnes & Noble (NYSE:BKS).
While Borders has been reporting losses for years, results have been getting worse as competition intensifies with Barnes & Noble (NYSE:BKS), Amazon.com (NASDAQ:AMZN), Wal-Mart Stores (NYSE:WMT), and Target (NYSE:TGT).
The company has launched an e-book initiative as it attempts to catch up with the competition. It remains to be seen if publishers will continue to ship inventory while payments are suspended.
Shares are down by nearly 13.8 percent.
Friday, December 31, 2010
Thursday, December 09, 2010
Borders Sales Decline Amid Merger Speculation
ANN ARBOR, Mich/ AUTHORLINK NEWS/December 9, 2010— Borders Group, Inc. (NYSE: BGP) today reported third quarter 2010 sales of $470.9 million, a dramatic decrease of 17.6% from the third period ending in October a year ago. Comparable store sales declined by 12.6%. Borders.com sales decreased 8.6% over the prior year to $12.5 million; however, fiscal year-to-date through the end of the third quarter, Borders.com sales increased 24.0% over the prior year, to $43.3 million
Earlier this week the investment firm, Pershing Square Capital Management, L.P., which owns about 42% of Borders together with Pershing’s Bill Ackman, said it is willing to finance a merger with Barnes & Noble. In August, Barnes & Noble board of directors announced they are considering selling the company. A proposal by Bill Ackman surfaced in a regulatory filing with the Securities and Exchange Commission. However, industry analysts say a deal is unlikely, if only because Barnes & Noble is financially healthier.
Barnes & Noble has not made any public statements about its interest in a deal, but some investors seemed open to the concept. The two competitors are struggling to compete in a pricing war with Walmart Target and Amazon.com.
It's unclear how a merger between Borders and Barnes & Noble would play out. Cuts to personnel and stores would be likely on both sides. Borders employs about 600 people at its Ann Arbor headquarters and more than 19,000 worldwide.
Meanwhile, Borders weak performance may not help fuel a marriage between the two giants.
The company incurred a loss from continuing operations in the third quarter of $74.4 million or $1.03 per share. For the same period a year ago, the company had a loss of $37.7 million or $0.63 per share. The company’s third quarter loss from continuing operations was caused primarily by decreased gross margin.
“Our third quarter results reflect the business challenges facing Borders and the industry at large,” said Mike Edwards, CEO, Borders, Inc. “While we are disappointed with third quarter results, my management team and I continue to vigorously address these challenges and our commitment to winning at retail is stronger than ever.
“We’re pleased that our publishers and strategic partners have continued to support our business and brand initiatives. We have a comprehensive, executable plan in place that supports our goal of transforming the iconic Borders brand into a profitable economic model over time. I am happy to say that the elements of the plan we’ve executed thus far have been successful. Our Borders Rewards Plus program has generated more than $11 million in membership revenue since launching just one hundred days ago. Notably, Borders Rewards Plus members shop more frequently and have a higher than average ticket driven by significantly higher units per transaction.
“In terms of other successes, we’ve also made substantial improvements to our stores, expanding the Kids section in 51 locations to drive further sales increases in our Kids Toys and Games category, which is outpacing most other areas of the business. We recently completed the addition of Area-e digital shops to stores to position Borders as a destination for all things eReading, with a goal to grow our digital and eBook market share. I want to point out that these enhancements required some reconfiguring of store space, creating a disruption which adversely impacted sales for the quarter. We also invested strategically in our Borders.com business, redesigning the site and adding a number of services, which we are confident will greatly enhance the customer experience. We see Borders.com as an extension of our bricks and mortar business, and we’ll continue to make prudent investments in the site, not to displace our stores, but rather to support and enhance the in-store experience.
“We have a talented and experienced management team executing a strong brand transformation plan, grounded in the extensive consumer research we have conducted with the Boston Consulting Group. During Q4 and throughout 2011, we will continue to work with strategic partners to provide a compelling combination of book and non book product and service offerings to position Borders as the most relevant bookstore in the marketplace,” concluded Edwards.
Borders has significantly strengthened its executive management team over the last two quarters with two key appointments. Scott Henry joined the company in October as Executive Vice President and Chief Financial Officer. A seasoned executive who brings more than 20 years of financial management experience to Borders, Henry has expertise in all aspects of internal and external corporate and operational financial management and business development. In addition, the company welcomed Michele Cloutier as Executive Vice President and Chief Merchandising Officer in August. Cloutier has over 22 years of merchandising experience with a heavy focus on female lifestyle brand building, including repositioning and redefining the business of multi-billion-dollar specialty retail organizations.
Earlier this week the investment firm, Pershing Square Capital Management, L.P., which owns about 42% of Borders together with Pershing’s Bill Ackman, said it is willing to finance a merger with Barnes & Noble. In August, Barnes & Noble board of directors announced they are considering selling the company. A proposal by Bill Ackman surfaced in a regulatory filing with the Securities and Exchange Commission. However, industry analysts say a deal is unlikely, if only because Barnes & Noble is financially healthier.
Barnes & Noble has not made any public statements about its interest in a deal, but some investors seemed open to the concept. The two competitors are struggling to compete in a pricing war with Walmart Target and Amazon.com.
It's unclear how a merger between Borders and Barnes & Noble would play out. Cuts to personnel and stores would be likely on both sides. Borders employs about 600 people at its Ann Arbor headquarters and more than 19,000 worldwide.
Meanwhile, Borders weak performance may not help fuel a marriage between the two giants.
The company incurred a loss from continuing operations in the third quarter of $74.4 million or $1.03 per share. For the same period a year ago, the company had a loss of $37.7 million or $0.63 per share. The company’s third quarter loss from continuing operations was caused primarily by decreased gross margin.
“Our third quarter results reflect the business challenges facing Borders and the industry at large,” said Mike Edwards, CEO, Borders, Inc. “While we are disappointed with third quarter results, my management team and I continue to vigorously address these challenges and our commitment to winning at retail is stronger than ever.
“We’re pleased that our publishers and strategic partners have continued to support our business and brand initiatives. We have a comprehensive, executable plan in place that supports our goal of transforming the iconic Borders brand into a profitable economic model over time. I am happy to say that the elements of the plan we’ve executed thus far have been successful. Our Borders Rewards Plus program has generated more than $11 million in membership revenue since launching just one hundred days ago. Notably, Borders Rewards Plus members shop more frequently and have a higher than average ticket driven by significantly higher units per transaction.
“In terms of other successes, we’ve also made substantial improvements to our stores, expanding the Kids section in 51 locations to drive further sales increases in our Kids Toys and Games category, which is outpacing most other areas of the business. We recently completed the addition of Area-e digital shops to stores to position Borders as a destination for all things eReading, with a goal to grow our digital and eBook market share. I want to point out that these enhancements required some reconfiguring of store space, creating a disruption which adversely impacted sales for the quarter. We also invested strategically in our Borders.com business, redesigning the site and adding a number of services, which we are confident will greatly enhance the customer experience. We see Borders.com as an extension of our bricks and mortar business, and we’ll continue to make prudent investments in the site, not to displace our stores, but rather to support and enhance the in-store experience.
“We have a talented and experienced management team executing a strong brand transformation plan, grounded in the extensive consumer research we have conducted with the Boston Consulting Group. During Q4 and throughout 2011, we will continue to work with strategic partners to provide a compelling combination of book and non book product and service offerings to position Borders as the most relevant bookstore in the marketplace,” concluded Edwards.
Borders has significantly strengthened its executive management team over the last two quarters with two key appointments. Scott Henry joined the company in October as Executive Vice President and Chief Financial Officer. A seasoned executive who brings more than 20 years of financial management experience to Borders, Henry has expertise in all aspects of internal and external corporate and operational financial management and business development. In addition, the company welcomed Michele Cloutier as Executive Vice President and Chief Merchandising Officer in August. Cloutier has over 22 years of merchandising experience with a heavy focus on female lifestyle brand building, including repositioning and redefining the business of multi-billion-dollar specialty retail organizations.
Tuesday, December 07, 2010
Wonders of Life Book Worth Reading
Hi All,
Every once in a while we run across a book that we just must read and recommend. LIFE; WONDERS OF LIFE, THE AMAZING WORLD OF NATURE is such a book, especially during the Christmas giving season.
For decades, LIFE magazine captured the hearts of Americans with their stunning photographs depicting every aspect of our lives. In their latest book, the third in The Classic Collection, LIFE takes the goal one step further, gathering together 100 color photographs of the most interesting plants and animals across the globe. It is a visually stunning book of extremes.
The publisher is Time Home Entertainment, Inc. We're sure it's available in most major bookstores.
Every once in a while we run across a book that we just must read and recommend. LIFE; WONDERS OF LIFE, THE AMAZING WORLD OF NATURE is such a book, especially during the Christmas giving season.
For decades, LIFE magazine captured the hearts of Americans with their stunning photographs depicting every aspect of our lives. In their latest book, the third in The Classic Collection, LIFE takes the goal one step further, gathering together 100 color photographs of the most interesting plants and animals across the globe. It is a visually stunning book of extremes.
The publisher is Time Home Entertainment, Inc. We're sure it's available in most major bookstores.
Tuesday, November 16, 2010
AAP, Bowker to Host Series on Smart Use of Consumer Information
New York, NY/AUTHORLINK NEWS/November 16, 2010—Bowker’s PubTrack and the Association of American Publishers (AAP) will co-host two upcoming educational events aimed at helping publishing professionals make the most of consumer information. Each event will provide an overview on the use of consumer data by publishing companies as a business tool, followed by a focused presentation on how editorial, marketing and sales professionals can use consumer data to acquire, market and sell their titles more effectively. Both events will take place live at the AAP New York office, 71 Fifth Avenue, New York City.
The first event, New Ways for Editors & Marketers to Understand The Changing Book Consumer will take place on Thursday, December 16, 2010 from 9:30AM – 12:00PM. This session is specifically designed for editorial and marketing professionals who want to gain a better understanding of the individuals who buy and read their books and the factors driving purchase selection. Registrants will learn why they should use essential demographic facts to better understand generational shifts in reading and buying habits, identify trends in book consumer behavior, and perform custom analysis of consumer data during the acquisition and editorial process. The presentation will discuss why some publishers are using consumer data to decide when to push for a bid or pre-empt, evaluate proposals for acquisition, make decisions about key franchises, and more deeply understand point of sale data.
The second event, New Ways for Marketing & Sales Professionals to Understand Shifting Book Sales Channels will take place on Thursday, February 3, 2011 from 9:30AM – 12:00PM. This session is designed for marketing and sales professionals who want to gain a better understanding of how to reach book consumers. Registrants will learn why they should use consumer data to more effectively allocate marketing resources and build more productive relationships with their retail accounts. The presentation will cover why some publishers are using consumer data to look at where consumers buy, the types of books they buy in specified retail channels, seasonal trends and frequency of shopping and spending, how consumers learn about new titles, and market penetration for particular titles.
The conference series is based on the recent white paper Bowker’s PubTrack ™ Consumer: Emerging Best Practices for Book Publishers which addresses the value of consumer data as a new business tool for publishers. Registration is $49 per event, and event seating is limited. To register, go to http://bookconsumers.eventbrite.com/. For more information, go to http://www.bookconsumer.com/.
For more information, contact Tina Jordan at (212) 255-0200 ext. 263 or tjordan@publishers.org.
About AAP
The Association of American Publishers is the national trade association of the U.S. book publishing industry. AAP’s members include most of the major commercial publishers in the United States, as well as smaller and non-profit publishers, university presses and scholarly societies.
About Bowker
Bowker is the world's leading provider of bibliographic information management solutions designed to help publishers, booksellers, and libraries better serve their customers.
The first event, New Ways for Editors & Marketers to Understand The Changing Book Consumer will take place on Thursday, December 16, 2010 from 9:30AM – 12:00PM. This session is specifically designed for editorial and marketing professionals who want to gain a better understanding of the individuals who buy and read their books and the factors driving purchase selection. Registrants will learn why they should use essential demographic facts to better understand generational shifts in reading and buying habits, identify trends in book consumer behavior, and perform custom analysis of consumer data during the acquisition and editorial process. The presentation will discuss why some publishers are using consumer data to decide when to push for a bid or pre-empt, evaluate proposals for acquisition, make decisions about key franchises, and more deeply understand point of sale data.
The second event, New Ways for Marketing & Sales Professionals to Understand Shifting Book Sales Channels will take place on Thursday, February 3, 2011 from 9:30AM – 12:00PM. This session is designed for marketing and sales professionals who want to gain a better understanding of how to reach book consumers. Registrants will learn why they should use consumer data to more effectively allocate marketing resources and build more productive relationships with their retail accounts. The presentation will cover why some publishers are using consumer data to look at where consumers buy, the types of books they buy in specified retail channels, seasonal trends and frequency of shopping and spending, how consumers learn about new titles, and market penetration for particular titles.
The conference series is based on the recent white paper Bowker’s PubTrack ™ Consumer: Emerging Best Practices for Book Publishers which addresses the value of consumer data as a new business tool for publishers. Registration is $49 per event, and event seating is limited. To register, go to http://bookconsumers.eventbrite.com/. For more information, go to http://www.bookconsumer.com/.
For more information, contact Tina Jordan at (212) 255-0200 ext. 263 or tjordan@publishers.org.
About AAP
The Association of American Publishers is the national trade association of the U.S. book publishing industry. AAP’s members include most of the major commercial publishers in the United States, as well as smaller and non-profit publishers, university presses and scholarly societies.
About Bowker
Bowker is the world's leading provider of bibliographic information management solutions designed to help publishers, booksellers, and libraries better serve their customers.
Monday, November 15, 2010
Bookstore Sales Decline in September
Authorlink News/November 15, 2010--Bookstore salles declined 7.7% to $1.51 billion, the worst month so far this year, according to the U.S. Census Bureau.
In August, sales fell 6.5%, resulting in a 2.6% decline to $12.31 billion for the first nine months of the year.
The bookstore drop is in stark contast to general retail sales, whcih were up 7.6% in September and 6.3% for the first nine months of 2010.
Authorlink Columnist Stamos Places in Top Ten Stage Play Competition
Authorlink News/November 15, 2010--Dale Griffiths Stamos, one of Authorlink's own popular columnists, has placed among the top ten winners of the 79th Annual Writers Digest Competition-Stage Play Division.
Stamos's full-length plays, One White Crow and Dialectics of the Heart, ranked 10th in the winner's list, among thousands of entries and hundreds of finalists for each category.
Congrats to Dale!
Writers Diest announced the following winners on October 29, 2010:
Stage Play Script Winners
Winner:
Joanne de Simone
Bay Shore NY
2. Ron Radice
Andover MA
3. Sharilynn La May
Summerfield FL
4. Lynne Kaufman
San Francisco CA
5. Felix Racelis
Los Angeles CA
6. Dale Griffiths Stamos
Venice CA
7. Everett Newton
Dallas TX
8. Morris L. Jones
Norfolk VA
9. Ken Levens
Redding CA
10. Dale Griffiths Stamos
Venice CA
Read Dale Stamos's columns every month on Authorlink.com
Stamos's full-length plays, One White Crow and Dialectics of the Heart, ranked 10th in the winner's list, among thousands of entries and hundreds of finalists for each category.
Congrats to Dale!
Writers Diest announced the following winners on October 29, 2010:
Stage Play Script Winners
Winner:
Joanne de Simone
Bay Shore NY
2. Ron Radice
Andover MA
3. Sharilynn La May
Summerfield FL
4. Lynne Kaufman
San Francisco CA
5. Felix Racelis
Los Angeles CA
6. Dale Griffiths Stamos
Venice CA
7. Everett Newton
Dallas TX
8. Morris L. Jones
Norfolk VA
9. Ken Levens
Redding CA
10. Dale Griffiths Stamos
Venice CA
Read Dale Stamos's columns every month on Authorlink.com
Monday, November 01, 2010
Authorlink Contributors Score Big in Publising World
Congratuations to our own BONIE HEARN HILL, who periodically contributes educational lectures to Authorlink. She has three new books out this year.
Gemini Night, the third in Bonnie Hearn Hill's Star Crossed young adult series, has just been published by Running Press/Perseus Books (October 2010). Logan, the protagonist, wants to be the teen astrologer at CRUSH magazine where she interns. In order to do so, she has to figure out the astrology chart of a celebrity guest at the magazine's Halloween launch party. The mystery Gemini, she discovers, could be in big-time danger the night of the costume party. And so, Logan realizes, could she.
Monday, October 25, 2010
Travel Classics West Writers Conference Set
Royal Palms Resort and Spa will play host to the 7th Annual Travel Classics West Writers Conference, Oct 28-31, in Scottsdale, Arizona. 39 award-winning writers and 18 major American magazine editors will arrive from both coasts for four days of networking and talks. John Lehrer, Editor-in-Chief of Westways, is keynoter.
Writers include the 2009 SATW Best Writers of the Year, Joe Ray, David Houser, and Robert Earle Howells. Michael Shapiro, this year's Travel Classics Winner, will attend. Scottsdale CVB is Grand Sponsor, along with a number of classy Arizona resorts and attractions. Out-of-state sponsors include tourism reps from Las Vegas, Wales, Quebec, Ireland, British Columbia, Vancouver, and Canada. Visit http://www.travelclassics.com/conferences to learn more about Travel Classics Writers Conferences.
Writers include the 2009 SATW Best Writers of the Year, Joe Ray, David Houser, and Robert Earle Howells. Michael Shapiro, this year's Travel Classics Winner, will attend. Scottsdale CVB is Grand Sponsor, along with a number of classy Arizona resorts and attractions. Out-of-state sponsors include tourism reps from Las Vegas, Wales, Quebec, Ireland, British Columbia, Vancouver, and Canada. Visit http://www.travelclassics.com/conferences to learn more about Travel Classics Writers Conferences.
Attention Writers-Amazon Launches Kindle Singles
SEATTLE/AUTHORLINK NEWS/October 25, 2010--Amazon announced last week that it will launch "Kindle Singles"--compelling ideas expressed at their natural length. Kindle Singles, which can be twice the length of a New Yorker feature or as much as a few chapters of a typical book might be the perfect, natural length to lay out a single killer idea, well researched, well argued and well illustrated--whether it's a business lesson, a political point of view, a scientific argument, or a beautifully crafted essay on a current event. Kindle Singles will have their own section in the Kindle Store and be priced much lower than a typical book. Interested authors and publishers should go to digital-publications@amazon.com and contact them for further instructions.
Monday, October 18, 2010
2010 LONDON BOOK FESTIVAL SETS DATE
LONDON/ AUTHORLINK NEWS/October 18, 2010--The 2010 London Book Festival regular registration deadline arrives in one month for iits annual awards honoring the best of international publishing. Entries must be received by November 25, 2010.
The 2010 London Book Festival will consider books in English, Spanish, French, German, Portuguese and Italian in the competition. The works may be published, self-published or independent publisher non-fiction, fiction, children's books, poetry, art/photgraphy, teenage, how-to, audio/spoken word, comics/graphic novels, e-books, wild card (anything goes!), science fiction, romance and biography/autobiographical works.
A panel of judges will determine the winners based on the following criteria:
1) The story-telling ability of the author;
2) The potential of the work to win wider recognition from the international publishing community.
Our grand prize for the 2010 London Book Festival Author of the Year is $1500 in U.S. funds and a flight from your city of entry to London OR Los Angeles - your choice!
ENTRIES: Please classify your book and enter it in the following categories. Multiple entries must be accompanied by a separate fee for each book.
1) General Non-fiction
2) General Fiction
3) Children's books
4) E-books
5) Comics/graphic novels
6) Wild Card
7) Teenage
8) Science fiction
9) Romance
10) Biography/Autobiography
11) Audio/spoken word
12) How-To
13) Poetry
14) Art/Photography
FESTIVAL RULES: London Book Festival submissions cannot be returned. Each entry must contain a print-out of the official entry form, including your e-mail address and contact telephone number. All shipping and handling costs must be borne by entrants.
NOTIFICATION AND DEADLINES: We will notify each entry of the receipt of their package via e-mail and will announce the winning entries at the LondonBookFestival.com web site.
Deadline submissions in each category must be postmarked by the close of business on November 25, 2010. Winners in each category will be notified by e-mail and the results posted on the site. Please note that judges read and consider submissions on an ongoing basis, comparing early entries with later submissions.
TO ENTER: Entry forms are available online at http://www.londonbookfestival.com or may be faxed/e-mailed to you by calling our office at 323-665-8080. Applications must be accompanied by a non-refundable entry fee via check, money order, credit card payment or PayPal online payment of $50 in U.S. dollars for each submission. Multiple submissions are permitted but each entry must be accompanied by a separate form and entry fee. Entry fee checks should be made payable to JM Northern Media LLC.
Entry packages should include one copy of the book; a copy of your official entry form; the entry fee or receipt from online payment; and any relevant marketing materials, i.e., press kits or other material that illuminates the background of your book. Entries should be mailed to:
JM Northern Media LLC
The London Book Festival
7095 Hollywood Blvd. Suite 864
Hollywood, CA 90028, USA
AWARDS: The London Book Festival selection committee reserves the right to determine the eligibility of any project.
The London Book Festival is produced by JM Northern Media LLC, producers of the Hollywood Book Festival, New York Book Festival and DIY Book Festival. We are sponsored by the Larimar St. Croix Writers Colony, eDivvy, Westside Websites and Shopanista.
The 2010 London Book Festival will consider books in English, Spanish, French, German, Portuguese and Italian in the competition. The works may be published, self-published or independent publisher non-fiction, fiction, children's books, poetry, art/photgraphy, teenage, how-to, audio/spoken word, comics/graphic novels, e-books, wild card (anything goes!), science fiction, romance and biography/autobiographical works.
A panel of judges will determine the winners based on the following criteria:
1) The story-telling ability of the author;
2) The potential of the work to win wider recognition from the international publishing community.
Our grand prize for the 2010 London Book Festival Author of the Year is $1500 in U.S. funds and a flight from your city of entry to London OR Los Angeles - your choice!
ENTRIES: Please classify your book and enter it in the following categories. Multiple entries must be accompanied by a separate fee for each book.
1) General Non-fiction
2) General Fiction
3) Children's books
4) E-books
5) Comics/graphic novels
6) Wild Card
7) Teenage
8) Science fiction
9) Romance
10) Biography/Autobiography
11) Audio/spoken word
12) How-To
13) Poetry
14) Art/Photography
FESTIVAL RULES: London Book Festival submissions cannot be returned. Each entry must contain a print-out of the official entry form, including your e-mail address and contact telephone number. All shipping and handling costs must be borne by entrants.
NOTIFICATION AND DEADLINES: We will notify each entry of the receipt of their package via e-mail and will announce the winning entries at the LondonBookFestival.com web site.
Deadline submissions in each category must be postmarked by the close of business on November 25, 2010. Winners in each category will be notified by e-mail and the results posted on the site. Please note that judges read and consider submissions on an ongoing basis, comparing early entries with later submissions.
TO ENTER: Entry forms are available online at http://www.londonbookfestival.com or may be faxed/e-mailed to you by calling our office at 323-665-8080. Applications must be accompanied by a non-refundable entry fee via check, money order, credit card payment or PayPal online payment of $50 in U.S. dollars for each submission. Multiple submissions are permitted but each entry must be accompanied by a separate form and entry fee. Entry fee checks should be made payable to JM Northern Media LLC.
Entry packages should include one copy of the book; a copy of your official entry form; the entry fee or receipt from online payment; and any relevant marketing materials, i.e., press kits or other material that illuminates the background of your book. Entries should be mailed to:
JM Northern Media LLC
The London Book Festival
7095 Hollywood Blvd. Suite 864
Hollywood, CA 90028, USA
AWARDS: The London Book Festival selection committee reserves the right to determine the eligibility of any project.
The London Book Festival is produced by JM Northern Media LLC, producers of the Hollywood Book Festival, New York Book Festival and DIY Book Festival. We are sponsored by the Larimar St. Croix Writers Colony, eDivvy, Westside Websites and Shopanista.
Thursday, September 30, 2010
Author Ruth Reichl Joins Random House as Editor-at-Large
NEW YORK, NY/AUTHORLINK NEWS/9/30/2010--Ruth Reichl, James Beard Award-winning, New York Times bestselling author, and former Editor-in-Chief of Gourmet magazine, is joining the Random House imprint of the Random House Publishing Group as both author and in the newly created position of Editor-at- Large, it was announced today by Random House Publisher and Editor-in-Chief, Susan Kamil.
The books she will author, which will be edited by Ms. Kamil, are two new works of nonfiction: a cookbook whose title, The Tao of Ruth, was inspired by Anthony Bourdain, and a memoir of her years at Condé Nast, the publisher of Gourmet, as well as her debut novel, DELICIOUS!
In her ten years at Gourmet, Reichl published a wide variety of writers who explored every aspect of food, from recipes to politics to culture. In her Random House capacity as Editor-at-Large, Reichl will continue to work with established and debuting authors who are expanding our food horizons. She will acquire, edit, and advise on the marketing of her list of books, with broad potential in a variety of print and digital-publishing formats. As Editor-at-Large, she reports to Susan Kamil.
Ruth Reichl began her career as the restaurant critic and food editor of San Francisco’s New West magazine. She went on to be the restaurant critic and food editor of the Los Angeles Times, and restaurant critic for The New York Times. She is the recipient of six James Beard awards. Reichl’s previous books include: Tender at the Bone, Comfort Me with Apples, Garlic and Sapphires, For You Mom, Finally, all New York Times bestsellers.
Ms. Kamil said, “I’m ecstatic to have Ruth as an author and a publishing colleague. In this one person there is a remarkable convergence of talent: Ruth is a brilliant storyteller and narrative writer, as well as an editor with the passion, knowledge, and intuitive understanding of what food lovers want to know. She will be an outstanding addition to Random House's publishing program.”
Commenting on her new position and her return to Random House, where her first books were published, Ms Reichl stated, “I’m especially excited to have the opportunity to participate in the future of food writing as both an author and a book editor. At Random House I'll have the opportunity to connect to food-lovers in print, and to participate in the ever-expanding digital world.”
Random House Publishing Group President and Publisher Gina Centrello said, “Ruth Reichl is one of today’s most beloved culinary writers. She has a sharp editorial eye for identifying talent and anticipating what is coming next. We are also very excited by the prospect of developing together book projects with digital components. I am thrilled to have her with us.”
The Random House Publishing Group is a division of Random House, Inc., whose parent company is Bertelsmann AG.
The books she will author, which will be edited by Ms. Kamil, are two new works of nonfiction: a cookbook whose title, The Tao of Ruth, was inspired by Anthony Bourdain, and a memoir of her years at Condé Nast, the publisher of Gourmet, as well as her debut novel, DELICIOUS!
In her ten years at Gourmet, Reichl published a wide variety of writers who explored every aspect of food, from recipes to politics to culture. In her Random House capacity as Editor-at-Large, Reichl will continue to work with established and debuting authors who are expanding our food horizons. She will acquire, edit, and advise on the marketing of her list of books, with broad potential in a variety of print and digital-publishing formats. As Editor-at-Large, she reports to Susan Kamil.
Ruth Reichl began her career as the restaurant critic and food editor of San Francisco’s New West magazine. She went on to be the restaurant critic and food editor of the Los Angeles Times, and restaurant critic for The New York Times. She is the recipient of six James Beard awards. Reichl’s previous books include: Tender at the Bone, Comfort Me with Apples, Garlic and Sapphires, For You Mom, Finally, all New York Times bestsellers.
Ms. Kamil said, “I’m ecstatic to have Ruth as an author and a publishing colleague. In this one person there is a remarkable convergence of talent: Ruth is a brilliant storyteller and narrative writer, as well as an editor with the passion, knowledge, and intuitive understanding of what food lovers want to know. She will be an outstanding addition to Random House's publishing program.”
Commenting on her new position and her return to Random House, where her first books were published, Ms Reichl stated, “I’m especially excited to have the opportunity to participate in the future of food writing as both an author and a book editor. At Random House I'll have the opportunity to connect to food-lovers in print, and to participate in the ever-expanding digital world.”
Random House Publishing Group President and Publisher Gina Centrello said, “Ruth Reichl is one of today’s most beloved culinary writers. She has a sharp editorial eye for identifying talent and anticipating what is coming next. We are also very excited by the prospect of developing together book projects with digital components. I am thrilled to have her with us.”
The Random House Publishing Group is a division of Random House, Inc., whose parent company is Bertelsmann AG.
Friday, September 24, 2010
Barnes & Noble Calls Yucaipa's Press Release Misleading
New York, NY/AUTHORLINK NEWS/September 24, 2010--Barnes & Noble, Inc. has responded to a press release issued earlier today by The Yucaipa Companies:
"Barnes & Noble has distributed materials from Yucaipa to its employees in full compliance with all regulatory requirements. Voting instructions supplied by both sides were distributed to employees by the Company. We have no intention of sending Burkle's insulting and misleading letter to our people. As for the letter itself, Burkle's shameless attempts to reinvent himself are contradicted by his long public record of shareholder abuse and vindictive litigation even against his own family. His latest smear proves only that he will stop at nothing in his continuing efforts to distract people from what we believe is his real agenda - gaining control of Barnes & Noble without paying a premium to other shareholders.
The Barnes & Noble Board of Directors urges that shareholders vote the WHITE proxy card FOR Barnes & Noble's three highly qualified nominees and AGAINST a shareholder proposal submitted by The Yucaipa Companies, to amend the Company's Shareholder Rights Plan. Barnes & Noble strongly urges shareholders to discard any gold proxy card sent by Mr. Burkle or Yucaipa."
Background:
On August 25, 2010, Barnes & Noble, Inc. ("Barnes & Noble") filed with the Securities and Exchange Commission (the "SEC") a definitive proxy statement in connection with its 2010 Annual Meeting and has mailed the definitive proxy statement to its stockholders. The definitive proxy statement contains information regarding the names, affiliations and interests of Barnes & Noble's directors, its director nominees and certain of its officers that may be deemed, along with Barnes & Noble, to be participants in the solicitation of Barnes & Noble's stockholders in connection with its 2010 Annual Meeting. Security holders are urged to read the definitive proxy statement and any other relevant documents filed with the SEC when they become available, because they contain (or will contain) important information. Security holders may obtain a free copy of the definitive proxy statement and other documents (when available) that Barnes & Noble files with the SEC at the SEC's website at www.sec.gov, at Barnes & Noble's website at www.barnesandnobleinc.com and from Barnes & Noble by directing a request to Barnes & Noble, Inc., Attention: Investor Relations, 122 Fifth Avenue, New York, New York 10011.
"Barnes & Noble has distributed materials from Yucaipa to its employees in full compliance with all regulatory requirements. Voting instructions supplied by both sides were distributed to employees by the Company. We have no intention of sending Burkle's insulting and misleading letter to our people. As for the letter itself, Burkle's shameless attempts to reinvent himself are contradicted by his long public record of shareholder abuse and vindictive litigation even against his own family. His latest smear proves only that he will stop at nothing in his continuing efforts to distract people from what we believe is his real agenda - gaining control of Barnes & Noble without paying a premium to other shareholders.
The Barnes & Noble Board of Directors urges that shareholders vote the WHITE proxy card FOR Barnes & Noble's three highly qualified nominees and AGAINST a shareholder proposal submitted by The Yucaipa Companies, to amend the Company's Shareholder Rights Plan. Barnes & Noble strongly urges shareholders to discard any gold proxy card sent by Mr. Burkle or Yucaipa."
Background:
On August 25, 2010, Barnes & Noble, Inc. ("Barnes & Noble") filed with the Securities and Exchange Commission (the "SEC") a definitive proxy statement in connection with its 2010 Annual Meeting and has mailed the definitive proxy statement to its stockholders. The definitive proxy statement contains information regarding the names, affiliations and interests of Barnes & Noble's directors, its director nominees and certain of its officers that may be deemed, along with Barnes & Noble, to be participants in the solicitation of Barnes & Noble's stockholders in connection with its 2010 Annual Meeting. Security holders are urged to read the definitive proxy statement and any other relevant documents filed with the SEC when they become available, because they contain (or will contain) important information. Security holders may obtain a free copy of the definitive proxy statement and other documents (when available) that Barnes & Noble files with the SEC at the SEC's website at www.sec.gov, at Barnes & Noble's website at www.barnesandnobleinc.com and from Barnes & Noble by directing a request to Barnes & Noble, Inc., Attention: Investor Relations, 122 Fifth Avenue, New York, New York 10011.
Thursday, September 23, 2010
Banned Books Week 2010 Kicks Off on September 25
Washington, DC/AUTHORLINK NEWS/September 23, 2010—Members of the Association of American Publishers (AAP) are gearing up for the celebration of Banned Books Week, which will be observed this year from September 25 through October 2. A time to stop and appreciate our right as Americans to read and to think freely, this annual celebration was created in 1982 by the American Library Association, along with the American Booksellers Association and AAP, in response to the growing number of attempts to remove or restrict access to books in public and school libraries, classrooms and bookstores.
Among the activities planned by publishers to mark this year’s celebration:
Simon & Schuster is re-issuing a poster featuring a powerful “Manifesto” on censorship by author Ellen Hopkins. Hopkins is the popular Young Adult author whose invitation to speak at a teen literary festival in Texas was withdrawn after some members of the community voiced objections to the subject matter of her books. Her “dis-invitation” prompted other authors to withdraw and the event was subsequently cancelled. The poster can be found and downloaded at http://www.simonandschuster.com/admin_assets/3289_Banned_Broadside.pdf and will be made available in Chicago on September 25 at the ALA “Banned Books Readout.”
HarperCollins Children’s Books will commemorate Banned Books Week on their numerous social networks by implementing a social media outreach campaign targeting teens, teachers, librarians, bloggers and general media outlets. The Pageturn, their School & Library blog, will discuss Harper’s most frequently banned books and will also include links to discussion guides (where available) to provide tools for teachers and librarians who want to discuss banned books further with children and teens. HarperCollins Children’s will leverage their social networks on Twitter and Facebook to join in the Banned Books conversation. The Greenwillow Books blog, Under the Greenwillow, will also talk about censorship in featuring one of the most frequently challenged authors in America, Chris Crutcher, who will take part in the ALA Banned Books Read-Out in Chicago on September 25 and in a Banned Books event at the Chicago Public Library on September 27. Harper will also promote Crutcher’s appearances in Chicago and his Banned Books guide across their social networks.
Random House Children’s Books will mark Banned Books Week with a variety of events at their New York offices September 27-October 1. A dynamic toolbox site http://www.randomhouse.com/banned has been created to raise awareness of past and current banned and challenged books and to provide resources and strategies to support those who are fighting book challenges in their own communities. The site also features thoughts on censorship from Random House authors. For as long as supplies last, a free book that has been banned or challenged will be sent out during the week to anyone who posts the Random House Banned Books Awareness graphic, blogs, or tweets about Banned Books Week. They can be reached at firstamendment@randomhouse.com.
To engage educators across the country in a conversation about book banning, each school day during Banned Books Week the Random House Academic Marketing department will share notes from authors and organizations about challenges and triumphs in fighting censorship. The messages are being rolled out via Facebook (http://www.facebook.com/randomhousehighschool) Twitter (http://twitter.com/RHhighschool) and their blog (http://rhimagazine.com/)
Book challenges occur in all parts of our country and come from the entire spectrum of political and religious viewpoints. An updated map showing incidents and challenges in 2007-2010 illustrates just how pervasive book censorship is. The map was drawn from cases documented by the American Library Association and the Kids Right to Read Project, and can be found at:
http://bannedbooksweek.org/Mapofbookcensorship.html
For additional information, visit the Banned Books Week web site at: http://www.bannedbooksweek.orgthe/ Association of American Publishers is the national trade association of the U.S. book publishing industry. AAP’s more than 300 members include most of the major commercial publishers in the United States, as well as smaller and non-profit publishers, university presses and scholarly societies. The protection of intellectual property rights in all media, the defense of the freedom to read and the freedom to publish at home and abroad, and the promotion of reading and literacy are among the Association’s highest priorities.
Among the activities planned by publishers to mark this year’s celebration:
Simon & Schuster is re-issuing a poster featuring a powerful “Manifesto” on censorship by author Ellen Hopkins. Hopkins is the popular Young Adult author whose invitation to speak at a teen literary festival in Texas was withdrawn after some members of the community voiced objections to the subject matter of her books. Her “dis-invitation” prompted other authors to withdraw and the event was subsequently cancelled. The poster can be found and downloaded at http://www.simonandschuster.com/admin_assets/3289_Banned_Broadside.pdf and will be made available in Chicago on September 25 at the ALA “Banned Books Readout.”
HarperCollins Children’s Books will commemorate Banned Books Week on their numerous social networks by implementing a social media outreach campaign targeting teens, teachers, librarians, bloggers and general media outlets. The Pageturn, their School & Library blog, will discuss Harper’s most frequently banned books and will also include links to discussion guides (where available) to provide tools for teachers and librarians who want to discuss banned books further with children and teens. HarperCollins Children’s will leverage their social networks on Twitter and Facebook to join in the Banned Books conversation. The Greenwillow Books blog, Under the Greenwillow, will also talk about censorship in featuring one of the most frequently challenged authors in America, Chris Crutcher, who will take part in the ALA Banned Books Read-Out in Chicago on September 25 and in a Banned Books event at the Chicago Public Library on September 27. Harper will also promote Crutcher’s appearances in Chicago and his Banned Books guide across their social networks.
Random House Children’s Books will mark Banned Books Week with a variety of events at their New York offices September 27-October 1. A dynamic toolbox site http://www.randomhouse.com/banned has been created to raise awareness of past and current banned and challenged books and to provide resources and strategies to support those who are fighting book challenges in their own communities. The site also features thoughts on censorship from Random House authors. For as long as supplies last, a free book that has been banned or challenged will be sent out during the week to anyone who posts the Random House Banned Books Awareness graphic, blogs, or tweets about Banned Books Week. They can be reached at firstamendment@randomhouse.com.
To engage educators across the country in a conversation about book banning, each school day during Banned Books Week the Random House Academic Marketing department will share notes from authors and organizations about challenges and triumphs in fighting censorship. The messages are being rolled out via Facebook (http://www.facebook.com/randomhousehighschool) Twitter (http://twitter.com/RHhighschool) and their blog (http://rhimagazine.com/)
Book challenges occur in all parts of our country and come from the entire spectrum of political and religious viewpoints. An updated map showing incidents and challenges in 2007-2010 illustrates just how pervasive book censorship is. The map was drawn from cases documented by the American Library Association and the Kids Right to Read Project, and can be found at:
http://bannedbooksweek.org/Mapofbookcensorship.html
For additional information, visit the Banned Books Week web site at: http://www.bannedbooksweek.orgthe/ Association of American Publishers is the national trade association of the U.S. book publishing industry. AAP’s more than 300 members include most of the major commercial publishers in the United States, as well as smaller and non-profit publishers, university presses and scholarly societies. The protection of intellectual property rights in all media, the defense of the freedom to read and the freedom to publish at home and abroad, and the promotion of reading and literacy are among the Association’s highest priorities.
Tuesday, September 21, 2010
New England Book Festival Entries Due in November
BOSTON, MASS/AUTHORLINK NEWS/September 21, 2010--The 2010 New England Book Festival will hold its annual awards ceremony on January 15, 2011 at the Omni Parker House Hotel in Boston for its annual competition honoring the best books of the holiday season.
One of the grand literary hotels of New England, the Omni is the former home of the famed "Saturday Club," where Emerson, Thoreau, Hawthorne and Longfellow met to discuss the literary achievements of the day.
The competition will accept entries in the following categories: non-fiction, fiction, biography/autobiography, children's books, young adult, how-to, cookbooks, science fiction, photography/art, poetry, spiritual works, compilations/anthologies, gay, unpublished stories and wild card (for books that don't neatly fit elsewhere). All entries must be in English.
grand prize for the 2010 New England Book Festival winner is $1500 cash and a flight to the awards in Boston in January, 2011.
Submitted works will be judged by a panel using the following criteria:
1) General excellence and the author's passion for telling a good story.
2) The potential of the work to reach a wider audience.
FESTIVAL RULES: New England Book Festival submissions cannot be returned. Each entry must contain the official entry form, including your e-mail address and contact telephone number. All shipping and handling costs must be borne by entrants.
NOTIFICATION AND DEADLINES: We will notify each entry of the receipt of their package via e-mail and will announce the winning entries on our web site (www.newenglandbookfestival.com). Because of the anticipated high volume of entries, we can only respond to e-mail inquiries.
Deadline submissions in each category must be postmarked by midnight on November 25, 2010. Winners in each category will be notified by e-mail and on the web site. Please note that judges read and consider submissions on an ongoing basis, comparing early entries with later submissions at our meetings.
TO ENTER: Entry forms are available online at www.newenglandbookfestival.com or may be faxed/e-mailed to you. Please contact our office at 323-665-8080 for fax requests. Applications must be accompanied by a non-refundable entry fee of $50 in the form of a check, money order or PayPal online payment in U.S. dollars for each submission. Multiple submissions are permitted but each entry must be accompanied by a separate form and entry fee.
AWARDS: The New England Book Festival selection committee reserves the right to determine the eligibility of any project.
The 2010 New England Book Festival is part of the JM Northern Media family of festivals, which include the DIY Convention: Do It Yourself in Film, Music & Books, New York Book Festival and Hollywood Book Festival. The New England Book Festival is sponsored by The Larimar St. Croix Writers Colony, eDivvy, Shopanista and Westside Websites.
For more information: NewEnglandBookFest@sbcglobal.net
One of the grand literary hotels of New England, the Omni is the former home of the famed "Saturday Club," where Emerson, Thoreau, Hawthorne and Longfellow met to discuss the literary achievements of the day.
The competition will accept entries in the following categories: non-fiction, fiction, biography/autobiography, children's books, young adult, how-to, cookbooks, science fiction, photography/art, poetry, spiritual works, compilations/anthologies, gay, unpublished stories and wild card (for books that don't neatly fit elsewhere). All entries must be in English.
grand prize for the 2010 New England Book Festival winner is $1500 cash and a flight to the awards in Boston in January, 2011.
Submitted works will be judged by a panel using the following criteria:
1) General excellence and the author's passion for telling a good story.
2) The potential of the work to reach a wider audience.
FESTIVAL RULES: New England Book Festival submissions cannot be returned. Each entry must contain the official entry form, including your e-mail address and contact telephone number. All shipping and handling costs must be borne by entrants.
NOTIFICATION AND DEADLINES: We will notify each entry of the receipt of their package via e-mail and will announce the winning entries on our web site (www.newenglandbookfestival.com). Because of the anticipated high volume of entries, we can only respond to e-mail inquiries.
Deadline submissions in each category must be postmarked by midnight on November 25, 2010. Winners in each category will be notified by e-mail and on the web site. Please note that judges read and consider submissions on an ongoing basis, comparing early entries with later submissions at our meetings.
TO ENTER: Entry forms are available online at www.newenglandbookfestival.com or may be faxed/e-mailed to you. Please contact our office at 323-665-8080 for fax requests. Applications must be accompanied by a non-refundable entry fee of $50 in the form of a check, money order or PayPal online payment in U.S. dollars for each submission. Multiple submissions are permitted but each entry must be accompanied by a separate form and entry fee.
AWARDS: The New England Book Festival selection committee reserves the right to determine the eligibility of any project.
The 2010 New England Book Festival is part of the JM Northern Media family of festivals, which include the DIY Convention: Do It Yourself in Film, Music & Books, New York Book Festival and Hollywood Book Festival. The New England Book Festival is sponsored by The Larimar St. Croix Writers Colony, eDivvy, Shopanista and Westside Websites.
For more information: NewEnglandBookFest@sbcglobal.net
Monday, September 20, 2010
Whidbey Island Writers Association Calls for Contest Entries
The Whidbey Island Writers Association, a program of the Northwest Institute of Literary Arts, is calling for entries to its 2010 SPIRIT OF WRITING CONTEST. Deadline for entries is October 16 2010.
All Whidby Island Writers Association members, regardless of residence, are eligible.
Contest rules and entry forms are available at www.writeonwhidbey.com or in any Whidbey Island Sno-Isle branch library at Whidbey Island, Washington.
Categories are:
•FICTION (up to 2,500 words)
•POETRY (up to 32 lines)
•NONFICTION ESSAY (up to 1,200 words)
•MEMOIR (up to 1,200 words)
•CHILDREN'S LITERATURE (may be prose up to 2,500 words, poetry up to 32 lines, or picture book up to 32 pages.)
• All manuscripts are returned with judges’ comments.
Winners are announced in local media and posted in Sno-Isle libraries, and their work will appear in a soft-cover booklet, In the Spirit of Writing 2010.
Winners are invited to the 2011 Whidbey Island Writers Conference Authors’
The Grand Prize Winner will receive a full scholarship to the 2011 Whidbey Island Writers Conference, and the winning manuscript will appear in the nationally circulated literary magazine of the Northwest Institute of Literary Arts, Soundings Review.
All Whidby Island Writers Association members, regardless of residence, are eligible.
Contest rules and entry forms are available at www.writeonwhidbey.com or in any Whidbey Island Sno-Isle branch library at Whidbey Island, Washington.
Categories are:
•FICTION (up to 2,500 words)
•POETRY (up to 32 lines)
•NONFICTION ESSAY (up to 1,200 words)
•MEMOIR (up to 1,200 words)
•CHILDREN'S LITERATURE (may be prose up to 2,500 words, poetry up to 32 lines, or picture book up to 32 pages.)
• All manuscripts are returned with judges’ comments.
Winners are announced in local media and posted in Sno-Isle libraries, and their work will appear in a soft-cover booklet, In the Spirit of Writing 2010.
Winners are invited to the 2011 Whidbey Island Writers Conference Authors’
The Grand Prize Winner will receive a full scholarship to the 2011 Whidbey Island Writers Conference, and the winning manuscript will appear in the nationally circulated literary magazine of the Northwest Institute of Literary Arts, Soundings Review.
Friday, September 17, 2010
Indy Publishers Call for Ben Franklin Award Nominations
The Independent Book Publishers Association (IBPA) announces that entries are now open for the 23rd annual Benjamin Franklin Awards™. Publishers of books copyrighted in 2010 may enter the competition, which includes fifty-six categories recognizing excellence in both editorial and design, and is regarded as one of the highest national honors in small and independent publishing.
Administered by IBPA with the help of more than 160 judges coming from the library, bookstore, reviewer, designer, publicity and editorial industry segments, the IBPA Benjamin Franklin Awards™ program is unique in that every entrant receives direct feedback in writing from the judges.
“Winning that award, and having my husband and kids there with me, is one of the most special moments of my life. I will never forget it…” – Janis Gioia, Butterfly Sky Press, Benjamin Franklin Award™ winner, Education/Teaching/Academic category for The Wolf Pack Classroom Management Plan.
Former IBPA Benjamin Franklin Award™ winners include publishers as large as Sourcebooks, John Wiley & Sons, Inc., BBC Audiobooks America and Interweave Press, and as small as Quiet Light Publishing, Celtic Sunrise and Sea Turtle Publishing. Winners will be announced at a gala event celebrating all of the recipients at the 2011 IBPA Publishing University, just prior to BookExpo America.
Founded in 1983, the Independent Book Publishers Association http://www.ibpa-online.org is the largest not-for-profit trade organization for publishers in the United States, serving more than 3000 book publishers of all sizes. IBPA's mission is to help independent publishers market their titles, to provide education on all aspects of publishing, and to act as an advocate for publishers' rights.
Administered by IBPA with the help of more than 160 judges coming from the library, bookstore, reviewer, designer, publicity and editorial industry segments, the IBPA Benjamin Franklin Awards™ program is unique in that every entrant receives direct feedback in writing from the judges.
“Winning that award, and having my husband and kids there with me, is one of the most special moments of my life. I will never forget it…” – Janis Gioia, Butterfly Sky Press, Benjamin Franklin Award™ winner, Education/Teaching/Academic category for The Wolf Pack Classroom Management Plan.
Former IBPA Benjamin Franklin Award™ winners include publishers as large as Sourcebooks, John Wiley & Sons, Inc., BBC Audiobooks America and Interweave Press, and as small as Quiet Light Publishing, Celtic Sunrise and Sea Turtle Publishing. Winners will be announced at a gala event celebrating all of the recipients at the 2011 IBPA Publishing University, just prior to BookExpo America.
Founded in 1983, the Independent Book Publishers Association http://www.ibpa-online.org is the largest not-for-profit trade organization for publishers in the United States, serving more than 3000 book publishers of all sizes. IBPA's mission is to help independent publishers market their titles, to provide education on all aspects of publishing, and to act as an advocate for publishers' rights.
Thursday, September 16, 2010
Barnes & Noble CEO Urges Shareholders to Vote Against Burkle Plan
NEW YORK, NY/AUTHORLINK NEWS/September 16, 2010--Barnes & Noble, Inc. today announced that its Chief Executive Officer, William J. Lynch, Jr., has sent a letter to all Barnes & Noble shareholders in connection with the Company's Annual Meeting on September 28, 2010. The letter details the Company's strategy to grow its business and to create shareholder value.
The Barnes & Noble Board of Directors recommends that shareholders vote the WHITE proxy card FOR Barnes & Noble's three highly qualified nominees and AGAINST a precatory shareholder proposal submitted by Ronald Burkle's investment vehicle, The Yucaipa Companies, to amend the Company's Shareholder Rights Plan. Barnes & Noble strongly urges shareholders to discard any gold proxy card sent by Burkle or Yucaipa.
The text of the letter follows:
September 16, 2010
Dear Fellow Shareholder:
As you may know, I joined Barnes & Noble in 2009 and was named Chief Executive Officer of your company in March of this year. I am enthusiastic about the opportunities that lie ahead for Barnes & Noble and its shareholders, and confident that you have a superior management team and Board of Directors working on your behalf.
While it's still early in the execution of our strategic plan, we feel confident (based on the initial positive results) that it's the right path to maximize shareholder value for you. The Company's strategic plan is based on the following objectives:
1.) Gain Share In Our Physical Retail Bookstore Business - The book industry and, in particular, the retail bookstore model, has been under significant pressure recently, both from macro-economic factors affecting all retail and also disruptive emerging technologies in digital reading. During this difficult and dynamic period for the industry, Barnes & Noble is focusing on continuing to deliver the best retail bookstore experience in the market*. Our analysis indicates an industry shake-out that will result in a consolidation of the physical book business based on the following dynamics:
a. Fewer bookstore competitors - It's clear there will be fewer bookstores in this country and as we continue to maintain the best real estate portfolio of locations and best run retail bookstore model, our stores will be the beneficiary of this consolidation. We love our bookstores and we intend to make them even better places to shop in the future.
b. Fewer stores selling books - approximately 50% of the $21 billion U.S. book business is transacted in non-book retail outlets such as mass merchants, as well as drug and mass discounters. As the physical book market contracts over the next four years, from approximately $21 billion to $19 billion**, we see many of these non-book retailers de-emphasizing the book category with greatly reduced shelf space and in some cases eliminating it all together. This will provide an opportunity for us.
Evidence of this shake-out already exists as our share gains from our largest physical bookstore competitors have accelerated in the last year. Today, the Company owns approximately 18% of the U.S book market, and we expect that figure to grow to 20-25% over the next three years.
2.) Establish B&N as a Top Retailer of Content in the Exploding Digital Market - Barnes & Noble was the first company to launch an eReading device, the "Rocketbook" in early 2000. By 2004, it became clear the Company was too early to the market. Since re-launching our eBookstore just over a year ago, every metric we track in the digital business is exceeding our expectations. In that brief 12-month period since we began selling digital content, we've gone from zero share to capturing over 20% of the digital trade book market - a higher share than the 18% we possess of the physical book market. Over the last two quarters, these eBook sales have been driving the growth of our BN.com business, generating over 50% year-over-year comparative revenue increases. Our early success in this emerging market can be primarily attributed to a few factors:
a. The competitive advantage of our stores and our 40,000 booksellers - Our stores and our booksellers have fueled the sales of NOOK devices and NOOK reading applications for PC, iPhone and other mobile devices. Having more than 700 of the best and most heavily trafficked retail locations combined with 40,000 committed and passionate booksellers, affords us the ability to hand-sell and educate millions of people interested in digital reading, in-person every day. For most customers, making sense of emerging technologies in digital media can be confusing - particularly early in the adoption curve. No one can match Barnes & Noble's high-touch consumer reach in the emerging digital reading market, and it's our best asset as we establish ourselves as a leader in this space.
b. Our Digital Catalog - At our core, we're purveyors of books, textbooks, magazines, newspapers and other forms of content, whether in physical or digital format. Our digital strategy is to deliver content in all forms, on multiple platforms, in-store, online and wirelessly to maximize the number of digital libraries powered by Barnes & Noble. For the last several years we've been investing heavily to convert books into digital format and amass our digital catalog of eBooks. We now own one of the top two saleable catalogs of digital in-copyright books in the world, and have contracts with thousands of publishers and authors to sell those works - an asset that will be an annuity for the Company far into the future. Barnes & Noble offers a selection of over one million books that can be read on NOOK digital reading software that supports over 400 mobile devices, including our own award-winning NOOK eBook Reader. Our promise to the customer is to offer the broadest selection of books in digital form and allow them to take their digital libraries with them wherever they go, on whatever device they are currently reading.
c. Our Digital Products team - Barnes & Noble has built a best-in-class management team with expertise in retail, e-commerce, technology and digital media. Over the last few years, we've added top managers and technologists from companies such as Microsoft, Palm, Adobe, Cisco, Apple, Motorola, Travelocity and Time Warner Digital in both our New York headquarters and our recently opened B&N Digital offices in Palo Alto, California. This is the most talented team I've ever worked with, and they are 100% focused on innovation in the digital reading space and driving shareholder value for you. The release of our NOOK Wi-Fi eBook Reader this year was touted as, "the best eReading product for under $149" by technology authority CNET, and you can expect more winning products from us in the near future.
While entering the digital content market has required significant investments from the Company in the form of sizable capital outlays and expenses, our early success has emboldened us. We are ahead of our plans, have quickly become the #2 retailer of digital books in the world, and have visibility to a digital business model delivering attractive profits and returns. Through our stores, booksellers, brand and publisher relationships, we combine a unique set of competitive advantages that will allow us to continue to succeed in this large emerging digital market. We expect to capture over 25% of the market for eBooks, eTextbooks and Digital Newsstand in total by 2013, projecting to over $1 billion in digital revenue for Barnes & Noble.
3.) Grow Share of the $12 Billion Textbook Market - Acquiring Barnes & Noble College Booksellers was a critical piece of our overall strategy. First, we were able to purchase the business for what we believe was a very attractive price and use its cash flows to help fund our digital investments and other operational needs. Just as important, by re-uniting the Barnes & Noble brand and owning the Barnes & Noble College assets, the Company has been able to roll out its new comprehensive offering of textbook solutions to a critical mass of students and faculty. In fact, in the most recent back-to-school season in August, Barnes & Noble is the only major retailer to offer college students textbooks in every available format - new, used, rental and digital - across both our online channels of BN.com and to more than four million students visiting our over 633 Barnes & Noble College Bookstores.
As with our consumer retail stores, the marketing reach that the physical College bookstores provide students gives us a large advantage over competitors as the market evolves. As an illustration, Barnes & Noble recently launched NOOKstudy(TM), a feature-rich digital textbook and study tool that lets college students manage all their digital content on their chosen computing devices. Launching NOOKstudy through our Barnes & Noble College channels has resulted in it being the most downloaded Digital Textbook Reader in this back-to-school rush period, three months after its launch.
Currently, we have approximately 15% of the $12 billion U.S. textbook market and we plan to grow that share. As the market fragments into these different formats of new, used, rental and digital, schools will find it increasingly difficult and costly to provide the content, logistics and technology required to service students and deliver course materials across the various formats. As a result, more and more they will outsource the management of their college bookstores. With our expertise and scale as a retail operator, combined with the sophisticated digital platforms and content catalogs we've built, we have positioned Barnes & Noble as the clear best-in-class partner for colleges and universities that want to modernize their offerings and offer students the maximum choice they will increasingly demand. And please remember that today's college students are tomorrow's big readers.
In summary, the Company competes in three very large and dynamic markets: the $23 billion consumer book market, the $12 billion textbook market and the $22 billion newsstand market. As the bookstore industry consolidates, and college bookstores increasingly outsource their operations, we see these markets becoming less fragmented and have solid plans to capture that business. In addition, we have empirical evidence that the exploding digital content market provides incremental opportunities for Barnes & Noble in all of these markets. While it's early in our implementation, our models indicate that we're on plan. I am confident, and you have over 40,000 Barnes & Noble booksellers working diligently every day to ensure, that the Company delivers for you.
In addition to asking for your support on our strategy, and of course your continued business in our stores, online at BN.com and with our NOOK digital products, I'd also respectfully ask you to support Barnes & Noble and vote the WHITE proxy card FOR your Board's highly qualified nominees and AGAINST the precatory shareholder proposal to amend the Shareholder Rights Plan. We greatly appreciate your support.
Very truly yours,
William J. Lynch, Jr.
Chief Executive Officer
The Barnes & Noble Board of Directors recommends that shareholders vote the WHITE proxy card FOR Barnes & Noble's three highly qualified nominees and AGAINST a precatory shareholder proposal submitted by Ronald Burkle's investment vehicle, The Yucaipa Companies, to amend the Company's Shareholder Rights Plan. Barnes & Noble strongly urges shareholders to discard any gold proxy card sent by Burkle or Yucaipa.
The text of the letter follows:
September 16, 2010
Dear Fellow Shareholder:
As you may know, I joined Barnes & Noble in 2009 and was named Chief Executive Officer of your company in March of this year. I am enthusiastic about the opportunities that lie ahead for Barnes & Noble and its shareholders, and confident that you have a superior management team and Board of Directors working on your behalf.
While it's still early in the execution of our strategic plan, we feel confident (based on the initial positive results) that it's the right path to maximize shareholder value for you. The Company's strategic plan is based on the following objectives:
1.) Gain Share In Our Physical Retail Bookstore Business - The book industry and, in particular, the retail bookstore model, has been under significant pressure recently, both from macro-economic factors affecting all retail and also disruptive emerging technologies in digital reading. During this difficult and dynamic period for the industry, Barnes & Noble is focusing on continuing to deliver the best retail bookstore experience in the market*. Our analysis indicates an industry shake-out that will result in a consolidation of the physical book business based on the following dynamics:
a. Fewer bookstore competitors - It's clear there will be fewer bookstores in this country and as we continue to maintain the best real estate portfolio of locations and best run retail bookstore model, our stores will be the beneficiary of this consolidation. We love our bookstores and we intend to make them even better places to shop in the future.
b. Fewer stores selling books - approximately 50% of the $21 billion U.S. book business is transacted in non-book retail outlets such as mass merchants, as well as drug and mass discounters. As the physical book market contracts over the next four years, from approximately $21 billion to $19 billion**, we see many of these non-book retailers de-emphasizing the book category with greatly reduced shelf space and in some cases eliminating it all together. This will provide an opportunity for us.
Evidence of this shake-out already exists as our share gains from our largest physical bookstore competitors have accelerated in the last year. Today, the Company owns approximately 18% of the U.S book market, and we expect that figure to grow to 20-25% over the next three years.
2.) Establish B&N as a Top Retailer of Content in the Exploding Digital Market - Barnes & Noble was the first company to launch an eReading device, the "Rocketbook" in early 2000. By 2004, it became clear the Company was too early to the market. Since re-launching our eBookstore just over a year ago, every metric we track in the digital business is exceeding our expectations. In that brief 12-month period since we began selling digital content, we've gone from zero share to capturing over 20% of the digital trade book market - a higher share than the 18% we possess of the physical book market. Over the last two quarters, these eBook sales have been driving the growth of our BN.com business, generating over 50% year-over-year comparative revenue increases. Our early success in this emerging market can be primarily attributed to a few factors:
a. The competitive advantage of our stores and our 40,000 booksellers - Our stores and our booksellers have fueled the sales of NOOK devices and NOOK reading applications for PC, iPhone and other mobile devices. Having more than 700 of the best and most heavily trafficked retail locations combined with 40,000 committed and passionate booksellers, affords us the ability to hand-sell and educate millions of people interested in digital reading, in-person every day. For most customers, making sense of emerging technologies in digital media can be confusing - particularly early in the adoption curve. No one can match Barnes & Noble's high-touch consumer reach in the emerging digital reading market, and it's our best asset as we establish ourselves as a leader in this space.
b. Our Digital Catalog - At our core, we're purveyors of books, textbooks, magazines, newspapers and other forms of content, whether in physical or digital format. Our digital strategy is to deliver content in all forms, on multiple platforms, in-store, online and wirelessly to maximize the number of digital libraries powered by Barnes & Noble. For the last several years we've been investing heavily to convert books into digital format and amass our digital catalog of eBooks. We now own one of the top two saleable catalogs of digital in-copyright books in the world, and have contracts with thousands of publishers and authors to sell those works - an asset that will be an annuity for the Company far into the future. Barnes & Noble offers a selection of over one million books that can be read on NOOK digital reading software that supports over 400 mobile devices, including our own award-winning NOOK eBook Reader. Our promise to the customer is to offer the broadest selection of books in digital form and allow them to take their digital libraries with them wherever they go, on whatever device they are currently reading.
c. Our Digital Products team - Barnes & Noble has built a best-in-class management team with expertise in retail, e-commerce, technology and digital media. Over the last few years, we've added top managers and technologists from companies such as Microsoft, Palm, Adobe, Cisco, Apple, Motorola, Travelocity and Time Warner Digital in both our New York headquarters and our recently opened B&N Digital offices in Palo Alto, California. This is the most talented team I've ever worked with, and they are 100% focused on innovation in the digital reading space and driving shareholder value for you. The release of our NOOK Wi-Fi eBook Reader this year was touted as, "the best eReading product for under $149" by technology authority CNET, and you can expect more winning products from us in the near future.
While entering the digital content market has required significant investments from the Company in the form of sizable capital outlays and expenses, our early success has emboldened us. We are ahead of our plans, have quickly become the #2 retailer of digital books in the world, and have visibility to a digital business model delivering attractive profits and returns. Through our stores, booksellers, brand and publisher relationships, we combine a unique set of competitive advantages that will allow us to continue to succeed in this large emerging digital market. We expect to capture over 25% of the market for eBooks, eTextbooks and Digital Newsstand in total by 2013, projecting to over $1 billion in digital revenue for Barnes & Noble.
3.) Grow Share of the $12 Billion Textbook Market - Acquiring Barnes & Noble College Booksellers was a critical piece of our overall strategy. First, we were able to purchase the business for what we believe was a very attractive price and use its cash flows to help fund our digital investments and other operational needs. Just as important, by re-uniting the Barnes & Noble brand and owning the Barnes & Noble College assets, the Company has been able to roll out its new comprehensive offering of textbook solutions to a critical mass of students and faculty. In fact, in the most recent back-to-school season in August, Barnes & Noble is the only major retailer to offer college students textbooks in every available format - new, used, rental and digital - across both our online channels of BN.com and to more than four million students visiting our over 633 Barnes & Noble College Bookstores.
As with our consumer retail stores, the marketing reach that the physical College bookstores provide students gives us a large advantage over competitors as the market evolves. As an illustration, Barnes & Noble recently launched NOOKstudy(TM), a feature-rich digital textbook and study tool that lets college students manage all their digital content on their chosen computing devices. Launching NOOKstudy through our Barnes & Noble College channels has resulted in it being the most downloaded Digital Textbook Reader in this back-to-school rush period, three months after its launch.
Currently, we have approximately 15% of the $12 billion U.S. textbook market and we plan to grow that share. As the market fragments into these different formats of new, used, rental and digital, schools will find it increasingly difficult and costly to provide the content, logistics and technology required to service students and deliver course materials across the various formats. As a result, more and more they will outsource the management of their college bookstores. With our expertise and scale as a retail operator, combined with the sophisticated digital platforms and content catalogs we've built, we have positioned Barnes & Noble as the clear best-in-class partner for colleges and universities that want to modernize their offerings and offer students the maximum choice they will increasingly demand. And please remember that today's college students are tomorrow's big readers.
In summary, the Company competes in three very large and dynamic markets: the $23 billion consumer book market, the $12 billion textbook market and the $22 billion newsstand market. As the bookstore industry consolidates, and college bookstores increasingly outsource their operations, we see these markets becoming less fragmented and have solid plans to capture that business. In addition, we have empirical evidence that the exploding digital content market provides incremental opportunities for Barnes & Noble in all of these markets. While it's early in our implementation, our models indicate that we're on plan. I am confident, and you have over 40,000 Barnes & Noble booksellers working diligently every day to ensure, that the Company delivers for you.
In addition to asking for your support on our strategy, and of course your continued business in our stores, online at BN.com and with our NOOK digital products, I'd also respectfully ask you to support Barnes & Noble and vote the WHITE proxy card FOR your Board's highly qualified nominees and AGAINST the precatory shareholder proposal to amend the Shareholder Rights Plan. We greatly appreciate your support.
Very truly yours,
William J. Lynch, Jr.
Chief Executive Officer
Tuesday, September 07, 2010
New England Book Festival Awards Due in January
BOSTON, MASS/AUTHORLINK NEWS/September 7, 2010--The 2010 New England Book Festival will hold its annual awards ceremony on January 15, 2011 at the Omni Parker House Hotel in Boston for its annual competition honoring the best books of the holiday season.
One of the grand literary hotels of New England, the Omni is the former home of the famed "Saturday Club," where Emerson, Thoreau, Hawthorne and Longfellow met to discuss the literary achievements of the day.
The competition will accept entries in the following categories: non-fiction, fiction, biography/autobiography, children's books, young adult, how-to, cookbooks, science fiction, photography/art, poetry, spiritual works, compilations/anthologies, gay, unpublished stories and wild card (for books that don't neatly fit elsewhere). All entries must be in English.
Our grand prize for the 2010 New England Book Festival winner is $1500 cash and a flight to the awards in Boston in January, 2011.
Submitted works will be judged by a panel using the following criteria:
1) General excellence and the author's passion for telling a good story.
2) The potential of the work to reach a wider audience.
FESTIVAL RULES: New England Book Festival submissions cannot be returned. Each entry must contain the official entry form, including your e-mail address and contact telephone number. All shipping and handling costs must be borne by entrants.
NOTIFICATION AND DEADLINES: We will notify each entry of the receipt of their package via e-mail and will announce the winning entries on our web site (www.newenglandbookfestival.com). Because of the anticipated high volume of entries, we can only respond to e-mail inquiries.
Deadline submissions in each category must be postmarked by midnight on November 25, 2010. Winners in each category will be notified by e-mail and on the web site. Please note that judges read and consider submissions on an ongoing basis, comparing early entries with later submissions at our meetings.
TO ENTER: Entry forms are available online at www.newenglandbookfestival.com or may be faxed/e-mailed to you. Please contact our office at 323-665-8080 for fax requests. Applications must be accompanied by a non-refundable entry fee of $50 in the form of a check, money order or PayPal online payment in U.S. dollars for each submission. Multiple submissions are permitted but each entry must be accompanied by a separate form and entry fee.
AWARDS: The New England Book Festival selection committee reserves the right to determine the eligibility of any project.
The 2010 New England Book Festival is part of the JM Northern Media family of festivals, which include the DIY Convention: Do It Yourself in Film, Music & Books, New York Book Festival and Hollywood Book Festival. The New England Book Festival is sponsored by The Larimar St. Croix Writers Colony, eDivvy, Shopanista and Westside Websites.
One of the grand literary hotels of New England, the Omni is the former home of the famed "Saturday Club," where Emerson, Thoreau, Hawthorne and Longfellow met to discuss the literary achievements of the day.
The competition will accept entries in the following categories: non-fiction, fiction, biography/autobiography, children's books, young adult, how-to, cookbooks, science fiction, photography/art, poetry, spiritual works, compilations/anthologies, gay, unpublished stories and wild card (for books that don't neatly fit elsewhere). All entries must be in English.
Our grand prize for the 2010 New England Book Festival winner is $1500 cash and a flight to the awards in Boston in January, 2011.
Submitted works will be judged by a panel using the following criteria:
1) General excellence and the author's passion for telling a good story.
2) The potential of the work to reach a wider audience.
FESTIVAL RULES: New England Book Festival submissions cannot be returned. Each entry must contain the official entry form, including your e-mail address and contact telephone number. All shipping and handling costs must be borne by entrants.
NOTIFICATION AND DEADLINES: We will notify each entry of the receipt of their package via e-mail and will announce the winning entries on our web site (www.newenglandbookfestival.com). Because of the anticipated high volume of entries, we can only respond to e-mail inquiries.
Deadline submissions in each category must be postmarked by midnight on November 25, 2010. Winners in each category will be notified by e-mail and on the web site. Please note that judges read and consider submissions on an ongoing basis, comparing early entries with later submissions at our meetings.
TO ENTER: Entry forms are available online at www.newenglandbookfestival.com or may be faxed/e-mailed to you. Please contact our office at 323-665-8080 for fax requests. Applications must be accompanied by a non-refundable entry fee of $50 in the form of a check, money order or PayPal online payment in U.S. dollars for each submission. Multiple submissions are permitted but each entry must be accompanied by a separate form and entry fee.
AWARDS: The New England Book Festival selection committee reserves the right to determine the eligibility of any project.
The 2010 New England Book Festival is part of the JM Northern Media family of festivals, which include the DIY Convention: Do It Yourself in Film, Music & Books, New York Book Festival and Hollywood Book Festival. The New England Book Festival is sponsored by The Larimar St. Croix Writers Colony, eDivvy, Shopanista and Westside Websites.
Sunday, September 05, 2010
Literary Revenge Lies Behind J.A. Jance's Bestselling Thrillers
Authorlink Audio Interview: J.A. Jance on Literary RevengeNew York Times bestselling author J.A. Jance, hailed as the undisputed mistress of the mystery novel, talks to Authorlink about her newest novel, Queen of the Night, a multilayered thriller set in the breathtaking Arizona desert that connects and devastates three separate families.
With more than 15 million copies of her books in print, how exactly did Jance follow her lifelong dream of becoming a novelist to become an incredible success?
When her agent couldn't sell her very first novel, what did she do? Fire the agent or fire her manuscript? Listen in.
She reveals the story behind what she calls her "literary revenge" and gives some practical advice for writers trying to break into publishing.
See the full story and interview plus many more interviews like this at http://www.authorlink.com/
Wednesday, September 01, 2010
Borders Second Quarter Slumps, Web Sales Soar
ANN Arbor, MICH/AUTHORLINK NEWS/September 1, 2010--Borders Group today reported an 11.5% decline in sales in the second quarter ending July 31, 2010, compared to a year ago. Comparable store sales declined 6.8% over the previous year, but sales on its web site, Borders.com, soared 56.2% for the period to $15.5 million.
The company generated a loss from continuing operations in the second quarter of $51.6 million for the same period a year ago.
"While we continue to succeed in strengthening our financial structure, we are highly focused on driving profitable sales and increasing market share," said Mike Edwards, CEO of Borders. "Based on extensive consumer research, we are doing a number of things to excite our customers going into the critical holiday shopping season, including launching our new Borders Rewards program, which includes the new paid Borders Rewards Plus. Recognizing that online and digital will be a significant part of our business moving forward, we are focused on increasing our share of the eBook market by growing our digital offerings to position Borders as the preferred destination for digital reading. Yet as we grow our online and digital business, we cannot underestimate the importance of our brick and mortar presence. This will be top of mind as we work on improving the in-store experience by shifting our product mix to include additional non-book products that are both compelling and relevant, and providing an escape for our customers though an inspirational in-store environment and consistent customer service."
Expanding Digital, Online and Social Media
The company is leveraging its strong brand recognition among book lovers -- particularly its millions of Rewards members -- to position Borders as the preferred destination for both digital content and devices. Borders' recently launched eBook store has been well received by customers. The company is now offering six e-reading devices including the Kobo eReader, Aluratek "Libre" eBook Reader Pro, Velocity Micro Cruz(TM) Reader and Velocity Micro Cruz(TM) Tablet as well as two Sony devices. Sales of the Kobo as well as pre-orders for the Aluratek and Velocity Micro devices have exceeded expectations. The company expects to announce additional devices in the coming weeks.
The company announced this week that it had lowered the price of the Kobo unit to $129.99 and the Libre Pro to $99.99, which will make it among the most aggressively priced devices in the industry. Borders will complete its digital initiative with the roll out of its Area-e digital shops, which will conclude in early October. The shops will provide let customers experience a variety of different eReaders, guided by knowledgeable staff, who can demonstrate the devices and answer questions.
"Borders is now an industry authority on digital content and devices," said Edwards. "We offer a large assortment of eReaders at price points that fit with most budgets and we are exploring adding new devices and brands in the fourth quarter as part of our device neutral strategy. As our newly launched eBook store and mobile apps gain traction, we believe we hold a strong growth position within a digital ecosphere that is rapidly evolving and expanding."
Tuesday, August 31, 2010
Borders Cuts Kobo, Aluratek eReaders to $129 and $99
ANN ARBOR, MICH/AUTHORLINK NEWS/August 31, 2010—Borders® today announced that its leading eReader devices, the Kobo™ eReader and Aluratek “Libre” eBook Pro, will be available beginning tomorrow, Sept. 1, at the new low price of $129.99 and $99.99, respectively. The price reduction of Borders’ best-selling eReaders further emphasizes the company’s commitment to delivering even more choice and value to customers.
The Aluratek device is available for purchase on Borders.com and will be available in Borders stores this week; the Kobo eReader is currently available both online and in-store.
“We’re committed to making it as easy as possible for all Borders customers to enjoy eReading,” said Mike Edwards, CEO of Borders. “As the demand for eReaders grows, we believe it is important to provide accessibility to a variety of devices. By reducing the price of our best-selling digital devices, we’re enabling even more Borders customers to purchase eReaders at a great value.”
Borders’ eReader devices represent key components of the company’s overall digital strategy, which includes a device agnostic philosophy and commitment to offer numerous brands of devices by the end of 2010.
“This is a significant inflection point in terms of market penetration of the Kobo and Aluratek eReaders,” Edwards continued. “We envision this price reduction, enabling the purchase of these devices as a second eReader in a household, as a more affordable option — the list goes on. We’re thrilled to bring even more value to Borders customers who are excited about great books — digital or otherwise.”
In addition, Borders announced it will carry Velocity Micro's Android-based Cruz Reader™ R101 and Cruz Tablet™ T103, which are now available for preorder on Borders.com for $199.99 and $299.99, respectively.
With 7” displays, the Cruz touch-screen devices provide an enjoyable and engaging reading experience, play video and music, and browse the Web in full color.
The purchase of the Cruz Reader includes a docking station that turns the eReader into an interactive media hub and picture frame. The docking station is optional for the Tablet. An SD memory slot allows for nearly unlimited storage and hours of entertainment. Both Cruz devices come with the Borders eBookstore reader application powered by Kobo™ and give consumers access to more than 1.5 million titles, including thousands of free titles. The devices come preloaded with 100+ books and access to the Cruz Market with downloadable apps.
This offer follows the successful launch of the Borders branded eBook store, powered by global eReading service Kobo™, as well as the release of Borders’ Blackberry® and Android™ eReading applications. Compatible devices include the iPad and iPhone, the BlackBerry® Curve™, the new BlackBerry® Tour™ 9630 and the Blackberry® Bold™, and all Android devices.
“Powered by Kobo” is an eBook partner program from Kobo, a global eBook service backed by Indigo Books & Music, Borders Group, REDgroup Retail, and Cheung Kong Holdings. The 'Powered by Kobo' program provides a flexible solution for hardware manufacturers and retailers worldwide to launch an eReader or eBook store.
Michigan-based Borders Group, Inc., through its subsidiaries, is a leading specialty retailer of books as well as other educational and entertainment items. The company employs approximately 19,500 throughout the U.S., primarily in its Borders® and Waldenbooks® stores.
Thursday, August 19, 2010
June Book Sales Crawl Up; E-Books Soar
AAP Reports 10.6% Increase in June Book Sales
E-book Sales up 204.2% for the Year to Date
New York, NY, August 19, 2010— Publishers’ book sales tracked by the Association of American Publishers (AAP) for the month of June increased by 10.6 percent on the prior year to $1.1 billion and were up by 11.4 percent for the year-to-date.
The children’s book category showed increases over June of last year, with Hardcover Children’s/YA sales up 19.6 percent for the month with sales of $60.6 million in June, although year-to-date sales are down by 16.7 percent. Children’s/YA Paperback sales increased 1.5 percent in June with sales totaling $51.5 million; sales fell 5.0 percent for the year-to-date.
The Adult Hardcover category was down 13.9 percent in June with sales of $113.8 million, although sales for the year-to-date are up by 13.1 percent. Adult Paperback sales increased 0.9 percent for the month ($133.7 million) but increased by 12.1 percent for the year so far. Adult Mass Market sales decreased 35.4 percent for June with sales totaling $60.8 million; sales were down by 14.9 percent year-to-date.
E-book sales continue to grow, with a 118.9 percent increase over June 2009 ($29.8 million); year-to-date E-book sales are up 204.2 percent. Downloaded Audio Books also saw an increase of 32.8 percent over last year, with sales of $6.0 million this June; the category was also up 34.3 percent year-to-date. Physical Audio Book sales decreased 36.9 percent in June with sales totaling $12.1 million; sales for the year-to-date are down 3.6 percent.
Religious Books were down 8.0 percent for the month with sales totaling $39.2 million, although sales were up by 1.4 percent for the year to date.
Sales of University Press Hardcover books increased 7.7 percent in June to $3.4 million; sales increased by 1.9 percent year-to-date. University Press Paperback posted a gain of 8.6 percent for the month with sales totaling $3.4 million; sales were up 1.3 percent for the year. Sales of Professional books rose 2.2 percent to $59.5 million and were up by 11.4 percent for the year to date.
Higher Education publishing sales increased 35.2 percent for the month ($514.9 million) and increased 27.4 percent for the year. Finally, the K-12 elementary/high school category posted total net sales of $766 million, up 39 percent over the prior year, and year-to-date sales of $1.5 billion, a 19.8 percent increase over 2009.
About AAP
The Association of American Publishers is the national trade association of the U.S. book publishing industry. AAP’s more than 300 members include most of the major commercial publishers in the United States, as well as smaller and non-profit publishers, university presses and scholarly societies. AAP members publish hardcover and paperback books in every field, educational materials for the elementary, secondary, postsecondary, and professional markets, scholarly journals, computer software, and electronic products and services. The protection of intellectual property rights in all media, the defense of the freedom to read and the freedom to publish at home and abroad, and the promotion of reading and literacy are among the Association’s highest priorities.
Wednesday, August 18, 2010
Los Angeles Book Festival Call for Entries
LOS ANGELES, CA/AUTHORLINK NEWS/August 18, 2010--The 2010 Los Angeles Book Festival has issued the call for entries to its annual celebration of books deserving more attention from the world publishing community.
The Los Angeles Book Festival will consider entries in general non-fiction, fiction, biography/autobiography, children’s books, cookbooks, science fiction, business, spiritual, genre-based, how-to, photography/art, spiritual, poetry, foreign language, romance and mysteries, teenage/young adult, how-to and the wild card (anything goes!) categories published on or after Jan. 1, 2007.
Entries can be in English, French, Spanish, German or Portuguese and can be from major publishers, self-published or issued by an independent publishing house.
Our grand prize for the Los Angeles Book Festival is $1500 cash and a flight to Los Angeles for our gala awards ceremony in February, 2011.
Submitted works will be judged by a panel of publishing industry experts using the following criteria:
1) General excellence and the author's passion for telling a good story.
2) The potential of the work to gain a wider audience in the worldwide market.
TO ENTER: Entry forms are available online at LosAngelesBookFestival.com or may be faxed/e-mailed to you. The Los Angeles Book Festival is part of the JM Northern Media family of festivals, which includes the DIY Convention: Do It Yourself in Film, Music & Books, the New York Book Festival and the Hollywood Book Festival. The Los Angeles Book Festival is sponsored by eDivvy, the Larimar St. Croix Writers Colony, Westside Websites and the DIY Reporter.com.
Friday, July 23, 2010
McGraw-Hill Income and Revenues Rise in Second Quarter
NEW YORK, AUTHORLINK NEWS/July 23, 2010--The McGraw-Hill Companies today reported net income for the second quarter of 2010 increased by 16.4%, or $27.0 million, to $191.1 million. Revenue in the second quarter was up 0.6% to $1.5 billion. Earnings per share rose 17.3% to $0.52 for the same period in 2009.
"Solid results in the U.S. college and university market, a strong performance by Standard & Poor's indices, and strength in the global energy information market helped offset some softening in credit market services in the second quarter," said Harold McGraw III, Chairman, President and Chief Executive Officer of The McGraw-Hill Companies. "Our operating margin improved by 340 basis points to 24.7%."
Education: Revenue for this segment increased by 1.8% to $565 million in the second quarter compared to the same period last year. The operating profit for the second quarter grew to $51.6 million compared to $21.0 million last year, which included a net pre-tax restructuring charge of $11.6 million. Foreign exchange rates increased revenue by $3.3 million and operating profit by $2.3 million.
Revenue for the McGraw-Hill School Education Group declined by 4.0%, or $13.7 million, in the second quarter to $324.9 million. The results were influenced by the timing of some Texas K-12 orders, which will be shipped during the third quarter.
Revenue for the McGraw-Hill Higher Education, Professional and International Group grew by 10.8% to $240.1 million.
A solid performance in the Texas K-12 reading and literature market, this year's biggest state new adoption opportunity at more than $400 million, was key to McGraw-Hill School Education Group's second quarter results. Texas did not adopt new materials in 2009. This year the McGraw-Hill School Education Group expects to capture about 40% of the Texas K-5 reading market and approximately 18% of the 6-12 literature market.
The McGraw-Hill School Education Group also will benefit from solid performances in K-5 reading and reading intervention in other adoption states, from a strong showing in the Florida 6-12 math market, and from excellent capture rates in non-core disciplines such as business and computer education and family and consumer sciences.
The gain in the state new adoption market was partially offset by lower sales in California, South Carolina and Indiana -- adoption states with reduced opportunities in 2010 compared to 2009. California is in the second year of its K-8 reading and literature adoption and the third year of its math adoption. But as the market leader there in reading, the McGraw-Hill School Education Group has been especially hard hit by the cut back in ordering by local school districts in response to the state's budget deficit and poor economic outlook.
In view of these recent trends, the McGraw-Hill School Education Group is trimming its estimate for the year's state new adoption market to a range of $825 million to $875 million. The previous range was $875 million to $925 million. The McGraw-Hill School Education Group still expects to capture about 30% of the state new adoption market. Growth in the state new adoption market is key to the 4% to 6% increase now forecasted this year for the total elementary-high school market. Previously, a growth rate of 6% to 7% had been forecasted.
Online homework management, assessment and tutoring products for students, including McGraw-Hill Connect, e-books and online courses all recorded double-digit revenue increases in the second quarter. The newly announced partnership with Blackboard Inc. will significantly expand student and faculty access to McGraw-Hill Connect by allowing them to use their Blackboard login for the full suite of McGraw-Hill Connect content and tools. Scores of McGraw-Hill Connect assignments, quizzes and tests will post directly to the Blackboard grade book, eliminating the need for students and instructors to manage access and updates in two separate systems.
In the U.S. college and university market in the second quarter, there also was double-digit growth in the following imprints: Science, Engineering and Math; Humanities, Social Sciences and Languages; and Business and Economics.
Without the benefit of another enrollment surge this fall, the U.S. college and university market is expected to grow 5% to 7% this year.
In professional publishing, the e-book market continued to expand and there were indications of an improving trend in traditional retail channels. As part of the digital transformation, the number of professional titles available to customers as e-books increased again in the second quarter and now stands at 5,000. The number of new iPhone applications was also increased in the second quarter. There are now more than 115 mobile apps available through various licensing partners.
Reflecting the impact of favorable foreign exchange rates, revenue increased modestly in international markets. Higher education sales in Southeast Asia, South Korea and Mexico contributed to the performance.
The Outlook: "Our previous earnings per diluted share guidance for 2010 was $2.55 to $2.65. Due to choppiness in some of our key markets, we now expect to finish the year at the low end of that range," said Mr. McGraw.
A webcast will be available live and in replay at http://investor.mcgraw-hill.com/phoenix.zhtml?c=96562&p=irol-EventDetails&EventId=3208170 after July 23.
The McGraw-Hill Companies is a global information and education company providing knowledge, insights and analysis in the financial, education and business information sectors through leading brands including Standard & Poor's, McGraw-Hill Education, Platts, and J.D. Power and Associates. The Corporation has more than 280 offices in 40 countries. Sales in 2009 were $5.95 billion. Additional information is available at http://www.mcgraw-hill.com/.
Tuesday, July 20, 2010
Borders Completes Paperchase Sale
ANN ARBOR, Mich./July 20, 2010—Borders Group, Inc. today announced it has closed on the previously announced transaction to sell Paperchase Products Limited (“Paperchase”) to Primary Capital Limited, a U.K.-based private equity firm, for approximately $31 million USD.
The agreement was described in a July 13 news release as well as a Form 8-K report recently filed by the company.
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 19,500 throughout the U.S., primarily in its Borders® and Waldenbooks® stores. Online shopping is offered through borders.com. Find author interviews and vibrant discussions of the products we and our customers are passionate about online at facebook.com/borders, twitter.com/borders and youtube.com/bordersmedia. For more information about the company, visit borders.com/media.
Friday, July 16, 2010
Borders Official Retailer for National Book Festival
ANN ARBOR, Mich./AUTHORLINK NEWS/July 15, 2010--Borders is the official book retailer for the 10th Annual National Book Festival. To celebrate, the retailer is teaming with the Library of Congress to encourage kids to design the National Book Festival's Official Bookmark -- the first ever designed by a member of the public. In addition to having his or her design displayed on the National Book Festival Official Bookmark to be distributed to tens of thousands who attend the event, the winner will receive a $500 Borders gift card and another $500 Borders gift card for their school library.
Kids have until the end of the month to submit their entries in the national "Design a Bookmark" contest. To enter, kids can download an official entry form at http://www.borders.com/online/store/MediaView_bookmarkcontest, design their bookmark image right on the page, and turn the form into their local Borders store. Two winners from each store will be awarded a $25 gift card and advance to the state competition. Then, two winning entries from each state will advance to the national competition, where one grand prize winner will be selected. In addition to a grand prize winner, there will be a second and third place winner, who will each receive two $250 gift cards and two $100 gift cards, respectively.
The 10th Annual National Book Festival, organized and sponsored by the Library of Congress, will be held Saturday, Sept. 25 on the National Mall in Washington, D.C., between 3rd and 7th Streets from 10 a.m. to 5:30 p.m. As the official book retailer for the event, Borders will have a store in the Book Sales Pavilion, so attendees can quickly and conveniently pick up their books before heading over to the Author Signing Pavilions located nearby.
The event will feature a number of authors including Suzanne Collins, Linda Sue Park, Katherine Paterson, Jane Smiley, Scott Turow and Gordon S. Wood with more to sign on in the coming weeks.
Thursday, July 08, 2010
London Book Festival Call for Entries
LONDON/AUTHORLINK NEWS/July 8, 2010--The 2010 London Book Festival has issued a call for entries to its annual competition honoring the best of international publishing and added several new categories.
The 2010 London Book Festival will consider books in English, Spanish, French, German, Portuguese and Italian in the competition. The works may be published, self-published or independent publisher non-fiction, fiction, children's books, poetry, art/photgraphy, teenage, how-to, audio/spoken word, comics/graphic novels, e-books, wild card (anything goes!), science fiction, romance and biography/autobiographical works.
A panel of judges will determine the winners based on the following criteria:
1) The story-telling ability of the author;
2) The potential of the work to win wider recognition from the international publishing community.
Grand prize for the 2010 London Book Festival Author of the Year is $1500 in U.S. funds and a flight from your city of entry to London OR Los Angeles - your choice!
ENTRIES: Please classify your book and enter it in the following categories. Multiple entries must be accompanied by a separate fee for each book.
1) General Non-fiction
2) General Fiction
3) Children's books
4) E-books
5) Comics/graphic novels
6) Wild Card
7) Teenage
8) Science fiction
9) Romance
10) Biography/Autobiography
11) Audio/spoken word
12) How-To
13) Poetry
14) Art/Photography
Deadline submissions in each category must be postmarked by the close of business on November 25, 2010. Winners in each category will be notified by e-mail and the results posted on the site. Please note that judges read and consider submissions on an ongoing basis, comparing early entries with later submissions.
Rules and entry forms are available online at http://www.londonbookfestival.com or may be faxed/e-mailed to you by calling our office at 323-665-8080.
Applications must be accompanied by a non-refundable entry fee via check, money order, credit card payment or PayPal online payment of $50 in U.S. dollars for each submission. Multiple submissions are permitted but each entry must be accompanied by a separate form and entry fee. Entry fee checks should be made payable to JM Northern Media LLC.
Entry packages should include one copy of the book; a copy of your official entry form; the entry fee or receipt from online payment; and any relevant marketing materials, i.e., press kits or other material that illuminates the background of your book.
Entries should be mailed to:
JM Northern Media LLC
The London Book Festival
7095 Hollywood Blvd. Suite 864
Hollywood, CA 90028, USA
AWARDS: The London Book Festival selection committee reserves the right to determine the eligibility of any project.
The London Book Festival is produced by JM Northern Media LLC, producers of the Hollywood Book Festival, New York Book Festival and DIY Book Festival. We are sponsored by the Larimar St. Croix Writers Colony, eDivvy, Westside Websites and Shopanista.
Thursday, July 01, 2010
S&S Canadian eBooks Now on iBookstore
S&S Canadian eBooks Now on iBookstore
TORONTO and NEW YORK/ AUTHORLINK/July 1, 2010--Simon & Schuster Canada has announced that it is making ebooks available on Apple's new iBookstore in Canada starting today. iBookstore is included in the free iBooks app for iPad, iPhone and iPod touch (www.itunes.ca/appstore).
Among the ebooks now available on iBookstore are internationally bestselling titles from Stephen King, Kathy Reichs, Jodi Picoult, Robin Sharma and Cassandra Clare.
Kevin Hanson, President of Simon & Schuster Canada commented, “We are delighted that we can now bring our books to Canadian readers who have eagerly anticipated the pleasures of reading on the iPad, iPhone or iPod touch. We are absolutely committed to making our books available to readers whenever and however they choose to enjoy them, and we welcome the iBookstore to the Canadian bookselling marketplace.”
Monday, May 24, 2010
2010 London Book Festival Call for Entries
2010 LONDON BOOK FESTIVAL CALL FOR ENTRIES
LONDON/AUTHORLINK NEWS/May 24, 2010--The 2010 London Book Festival has issued a call for entries to its annual competition honoring the best of international publishing. The event will hold its annual awards program in January, 2011 at the city's famed Grosvenor House.
The 2010 London Book Festival will consider books in English, Spanish, French, German, Portuguese and Italian in the competition. The works may be published, self-published or independent publisher non-fiction, fiction, children's books, poetry, art/photgraphy, teenage, how-to, audio/spoken word, comics/graphic novels, e-books, wild card (anything goes!), science fiction, romance and biography/autobiographical works.
A panel of judges will determine the winners based on the following criteria:
1) The story-telling ability of the author;
2) The potential of the work to win wider recognition from the international publishing community.
Our grand prize for the 2010 London Book Festival Author of the Year is $1500 in U.S. funds and a flight from your city of entry to London OR Los Angeles - your choice!
ENTRIES: Please classify your book and enter it in the following categories. Multiple entries must be accompanied by a separate fee for each book.
1) General Non-fiction
2) General Fiction
3) Children's books
4) E-books
5) Comics/graphic novels
6) Wild Card
7) Teenage
8) Science fiction
9) Romance
10) Biography/Autobiography
11) Audio/spoken word
12) How-To
13) Poetry
14) Art/Photography
FESTIVAL RULES: London Book Festival submissions cannot be returned. Each entry must contain a print-out of the official entry form, including your e-mail address and contact telephone number. All shipping and handling costs must be borne by entrants.
NOTIFICATION AND DEADLINES: The Festival will notify each entry of the receipt of their package via e-mail and will announce the winning entries at the LondonBookFestival.com web site.
Deadline submissions in each category must be postmarked by the close of business on November 25, 2010. Winners in each category will be notified by e-mail and the results posted on the site. Please note that judges read and consider submissions on an ongoing basis, comparing early entries with later submissions.
TO ENTER: Entry forms are available online at http://www.londonbookfestival.com or may be faxed/e-mailed to you by calling our office at 323-665-8080. Applications must be accompanied by a non-refundable entry fee via check, money order, credit card payment or PayPal online payment of $50 in U.S. dollars for each submission. Multiple submissions are permitted but each entry must be accompanied by a separate form and entry fee. Entry fee checks should be made payable to JM Northern Media LLC.
Entry packages should include one copy of the book; a copy of your official entry form; the entry fee or receipt from online payment; and any relevant marketing materials, i.e., press kits or other material that illuminates the background of your book. Entries should be mailed to:
JM Northern Media LLC
The London Book Festival
7095 Hollywood Blvd. Suite 864
Hollywood, CA 90028, USA
AWARDS: The London Book Festival selection committee reserves the right to determine the eligibility of any project.
The London Book Festival is produced by JM Northern Media LLC, producers of the Hollywood Book Festival, New York Book Festival and DIY Book Festival. We are sponsored by the Larimar St. Croix Writers Colony, eDivvy, Westside Websites and Shopanista.
Friday, May 21, 2010
Borders Raises $25 Million to Transform Brand
Borders Raises $25 Million to Transform Brand
ANN ARBOR, MICH/AUTHORLINK NEWS/May 21, 2010—Borders Group, Inc. has announced that an entity controlled by Bennett S. LeBow has agreed to invest $25 million in the company through a private purchase of 11.1 million shares of the company’s common stock.
The investment--coupled with the company’s recently announced financing--will strengthen Borders’ balance sheet and help fund the transformation of the Borders brand. Mr. LeBow’s investment will support several important financial and strategic initiatives such as improving the company’s capital position, addressing the store network to maximize productivity and profitability, maximizing the digital opportunity including growing Borders.com, and developing strategic business partnerships. The purchase is expected to close later today.
In connection with the investment, Mr. LeBow has joined the Board of Directors and has also been elected Chairman. Mr. LeBow is the Chairman of Vector Group, Ltd. (NYSE: VGR). Howard Lorber, who serves as President and Chief Executive Officer of Vector Group, has also joined the Board of Directors of Borders Group.
Additionally, in order to create the nine-member Board as required by the terms of the transaction, Richard “Mick” McGuire has resigned from the Board of Directors.
"I am pleased to welcome Ben aboard as the new Chairman," said McGuire. "Borders has made great progress in improving its financial and operating condition by exiting non-core businesses, reducing fixed costs, improving working capital efficiency, and focusing on operational excellence. More recently, the executive team has begun the process of repositioning the business and in-store experience to succeed in a future of electronic delivery..."
Pershing Square Capital Management, L.P. and its affiliates, which currently is a major shareholder of Borders Group, has indicated its support for the transaction.
Details of the purchase agreement will be included in a Form 8-K to be filed promptly with the Securities and Exchange Commission.
Headquartered in Ann Arbor, Michigan, through its subsidiaries Borders Group, Inc. (NYSE: BGP) is a leading specialty retailer of books as well as other educational and entertainment items. The company employs approximately 19,500 throughout the U.S., primarily in its Borders® and Waldenbooks® stores. Online shopping is offered through borders.com.
Thursday, May 20, 2010
Barnes & Noble PubIt! for Self-Published Authors
Barnes & Noble PubIt! for Self-Published Authors
AUTHORINK NEWS/May 20, 2010--For authors who simply want to publish their own work, Barnes & Noble is offering PubIt!(www.bn.com/pubit). The online system allows self-published authors to access and sell eBooks and other content on Barnes & Noble's Online and Digital Platforms.
The easy-to-use publishing and distribution platform offers authors of self-published works expanded distribution, visibility and Digital Rights Management protection.
PubIt! titles will be distributed through BN.COM and Barnes & Noble's eBookstore, which currently offers more than one million digital titles to millions of dedicated customers in-store and online.
Details about PubIt's royalty model and compensation process will be available next week.
Barnes & Noble customers will be able to browse, sample, buy and download the digital content in seconds to their devices with free BN reader software. Using Barnes & Noble's Read In Store(TM) technology, NOOK(TM) customers can also browse the complete contents of PubIt! titles while in Barnes & Noble stores.
PubIt! titles will be accessible on hundreds of devices including: NOOK by Barnes & Noble, PC, Mac®, iPad(TM), iPhone®, BlackBerry® and others. For more information on free BN eReader software and apps, visit www.bn.com/ebooks/download-reader.asp.
More information on PubIt!, which will be available this summer at www.bn.com/pubit.
Editor's Note: One wonders if we are simply creating more giant slush piles here.
Tuesday, May 18, 2010
Indy Book Publishers Name Franklin Finalists
Indy Book Publishers Name Franklin Finalists
AUTHORLINK NEWS/May 18, 2010--The Independent Book Publishers Association (IBPA) has announce finalists in the 2010 Benjamin Franklin Awards™. The three finalists in each of the 50 categories were selected from among more than 1,300 entries. One winner per category will be announced at the Benjamin Franklin Awards ceremony on Monday evening, May 24 at the Roosevelt Hotel in New York City.
Let us know what you think of the winners. A complete listing of finalists can be found on the IBPA website
Anybody read any of these? How do they compare with releases by major publishers?
AUTHORLINK NEWS/May 18, 2010--The Independent Book Publishers Association (IBPA) has announce finalists in the 2010 Benjamin Franklin Awards™. The three finalists in each of the 50 categories were selected from among more than 1,300 entries. One winner per category will be announced at the Benjamin Franklin Awards ceremony on Monday evening, May 24 at the Roosevelt Hotel in New York City.
Let us know what you think of the winners. A complete listing of finalists can be found on the IBPA website
Anybody read any of these? How do they compare with releases by major publishers?
Wednesday, May 12, 2010
Google Hooks Up With Verizon Against iPad
Verizon Wireless is working with Google Inc. on a tablet computer, as the company tries catching up with iPad host AT&T. They say they'll have devices ready to show early next year. So, why do we need yet another tablet computer? Well, this one is supposed to be faster than all the rest, especially good for running video. We'll see. --May 12, 2010
Tuesday, April 27, 2010
McGraw-Hill Reports Growth, Digital Sales Soar
McGraw-Hill Reports Growth, Digital Sales Soar
YORK/AUTHORLINK NEWS/April 27, 2010--The McGraw-Hill Companies today reported an increase of 63.9% in net income to $103.3 million for the first quarter of 2010, compared to $63.0 million for the first quarter of 2009. Revenue grew by 3.7% in the first quarter to $1.2 billion. The company saw double-digit growth in digital sales in its professional division, while the international market slowed.
"Recovery in global bond markets, solid results in U.S. higher education, which is benefiting from double-digit growth in digital products and services, and an outstanding performance in global energy information markets were major factors in our first quarter," said Harold McGraw III, chairman, president and chief executive officer of The McGraw-Hill Companies. "The operating margin expanded in all three segments."
Education: Revenue for this segment increased by 1.5% to $317.2 million in the first quarter compared to the same period last year. The operating loss for the period was cut by 19.3% to $61.8 million. Foreign exchange rates increased revenue by $5.8 million, and had an unfavorable impact on the operating loss of $2.4 million.
The McGraw-Hill School Education Group's revenue declined by 9.0% to $111.6 million in the first quarter as a modest gain in the instructional materials market was offset by a decline in the testing market.
The McGraw-Hill Higher Education, Professional and International Group's revenue increased by 8.3% to $205.7 million in the first quarter.
In the elementary-high school market, the McGraw-Hill School Education Group increased sales. Because most school districts do not make significant new purchases in this period, supplemental, residual and intervention orders accounted for most of the activity in the adoption states. North Carolina, usually the only adoption state to purchase new materials in the first quarter, was not in the market this year. In the open territory, the McGraw-Hill School Education Group benefited from large orders for world languages in Ohio, reading in Maryland and music in South Dakota, as well as supplemental and residual orders.
Growth in the expanding formative testing market was offset by the planned phase out of statewide custom contracts in California, Florida and Arizona. McGraw-Hill Education's Acuity, a leader in the formative assessment market, continued to add new customers.
For McGraw-Hill Higher Education, Professional and International Group, surging sales of digital products contributed to a strong first quarter performance in the U.S. college and university market and improved results in professional markets.
Increased demand fueled by higher enrollments carried through from the fourth quarter of 2009 into the first quarter of 2010 in higher education. Double-digit revenue increases were produced by e-books, online courses and online homework management assessment products for students, including McGraw-Hill Connect(TM), the industry's most advanced interactive platform.
McGraw-Hill Higher Education's best sellers in the first quarter included:
Sanderson, Computers in the Medical Office, 6th Edition
Shier, Hole's Human Anatomy and Physiology, 12th Edition
Garrison, Managerial Accounting, 13th Edition
Judson, Law and Ethics for Medical Careers, 5th Edition
Feldman, Essentials of Understanding Psychology, 8th Edition
In professional markets, digital revenue increased at a double-digit rate and traditional book sales in retail channels got off to a positive start in the first quarter. AccessPhysiotherapy, the sixth vertical site in the AccessMedicine(TM) suite of online subscription platforms for medical students, educators and physicians, was launched in the first quarter. AccessPhysiotherapy includes content from across McGraw-Hill Education, including Anatomy and Physiology Revealed, a virtual dissection tool from McGraw-Hill Higher Education, and Clinical Sports Medicine videos from McGraw-Hill Australia.
Revenue, excluding the impact of foreign exchange, declined slightly in international markets.
Wednesday, April 14, 2010
Booksellers Name Indies Choice Award Winners
Announcing the 2010 Indies Choice Book Award Winners!
NEW YORK, NY/AUTHORLINK NEWS/April 12, 2010--The American Booksellers Association late last week announced the winners of the 2010 Indies Choice Book Awards, reflecting the spirit of independent bookstores nationwide and the IndieBound movement.
This year's winners were chosen by the owners and staff at ABA member stores nationwide in more than four weeks of voting. Book of the Year winners and Honor Award recipients are all titles appearing on the 2009 Indie Next Lists.
The 2010 Book of the Year winners are:
Adult Fiction: Cutting for Stone, by Abraham Verghese (Knopf)
Adult Nonfiction: The Lost City of Z, by David Grann (Doubleday)
Adult Debut: The Help, by Kathryn Stockett (Amy Einhorn Books/Putnam)
Young Adult: Catching Fire, by Suzanne Collins (Scholastic)
Middle Reader: When You Reach Me, by Rebecca Stead (Wendy Lamb Books)
New Picture Book: The Lion and the Mouse, by Jerry Pinkney (Little, Brown)
Kate DiCamillo was voted Most Engaging Author both for being an in-store star and for having a strong sense of the importance of indie booksellers to their local communities.
ABA members also inducted three of their all-time favorites into the Indies Choice Book Awards Picture Book Hall of Fame:
Alexander and the Terrible, Horrible, No Good Very Bad Day, by Judith Viorst and Ray Cruz (Atheneum)
Madeline, by Ludwig Bemelmans (Viking)
The Story of Ferdinand, by Munro Leaf and Robert Lawson (Viking)
"Our sincere congratulations go out to all of the 2010 winners," said ABA CEO Oren Teicher. "Every one of these authors has created a truly unique work that independent booksellers have enthusiastically supported and enjoyed handselling during the past year. We look forward to honoring each of them at the Celebration of Bookselling Lunch at BEA."
Five Honor Award recipients were also named in each category, except Picture Book Hall of Fame.
Adult Fiction Honor Award recipients:
Border Songs, by Jim Lynch (Knopf)
Brooklyn, by Colm Toibin (Scribner)
The Children's Book, by A.S. Byatt (Knopf)
Generosity: An Enhancement, by Richard Powers (FSG)
Wolf Hall, by Hilary Mantel (Holt)
Adult Nonfiction Honor Award recipients:
Animals Make Us Human, by Temple Grandin and Catherine Johnson (Houghton Mifflin Harcourt)
Lit: A Memoir, by Mary Karr (HarperCollins)
Stitches: A Memoir, by David Small (W.W. Norton)
Strength in What Remains, by Tracy Kidder (Random House)
When Everything Changed, by Gail Collins (Little, Brown)
Adult Debut Honor Award recipients:
The Earth Hums in B Flat, by Mari Strachan (Canongate)
The Piano Teacher, by Y.K. Lee (Viking)
The Selected Works of T.S. Spivet, by Reif Larson (Penguin Press)
Still Alice, by Lisa Genova (Pocket)
Tinkers, by Paul Harding (Bellevue Literary Press)
Young Adult Honor Award recipients:
Going Bovine, by Libba Bray (Delacorte Books for Young Readers)
If I Stay, by Gayle Forman (Dutton Juvenile)
Leviathan, by Scott Westerfeld, Keith Thompson (illus.) (Simon Pulse)
Shiver, by Maggie Stiefvater (Scholastic)
Wintergirls, by Laurie Halse Anderson (Viking Juvenile)
Middle Reader Honor Award recipients:
Al Capone Shines My Shoes, by Gennifer Choldenko (Dial)
The Evolution of Calpurnia Tate, by Jacqueline Kelly (Holt)
Odd and the Frost Giants, by Neil Gaiman (HarperCollins)
A Season of Gifts, by Richard Peck (Dial)
Where the Mountain Meets the Moon, by Grace Lin (Little, Brown)
New Picture Book Honor Award recipients:
All the World, by Liz Garton Scanlon, Maria Frazee (illus.) (Beach Lane Books)
The Curious Garden, by Peter Brown (Little, Brown)
Listen to the Wind, by Greg Mortenson, Susan Roth (illus.) (Dial)
Moonshot: The Flight of Apollo 11, by Brian Floca (Richard Jackson Books)
Otis, by Loren Long (Philomel)
Most Engaging Author Honor Award recipients:
Isabel Allende
Laurie Halse Anderson
Libba Bray
Michael Chabon
Abraham Verghese
All of the Indies Choice Book Award winners and Honor Award recipients are being invited to the Celebration of Bookselling Lunch on Wednesday, May 26, at New York's Javits Convention Center. The event is free and open exclusively to two booksellers from each ABA member store. Booksellers who would like to attend should register individually as soon as possible via an electronic reservation form on Bookweb.org. Questions regarding the lunch should be addressed to Mark Nichols, ABA industry relations officer, at mark@bookweb.org.
Tuesday, April 13, 2010
Random House Merges Ballantine and Bantam Dell
Random House Merges Ballantine and Bantam Dell
NEW YORK, NY/AUTHORLINK NEWS/April 13/2010--Random House today merged the Ballantine and Bantam Dell impritns into a single new Ballantine Bantam Dell division, under the supervision of senior vice president Libby McGuire. Bantam Dell executive vice president and publisher Nita Taublib will leave the company.
Random House Publishing Group president Gina Centrello said in an emploee memo: "I am saddened that with the organizational changes we are announcing this morning for Ballantine and Bantam Dell" Taublib will "step down." Centrello said Taublib is a "one-of-a-kind editor and a team-building publisher. . .she is one of the rare publishing executives who combines a keen editorial appreciation for a diverse range of authors with the skillful execution of all the administrative details that go into bringing their books into the marketplace."
Random House editorial director Jennifer Hershey will now serve as editor-in-chief of BBD, overseeing all Ballantine, Del Rey and Bantam editors. Ballantine editorial director Linda Marrow and Bantam editorial director Kate Miciak will report to Hershey. She will continue to edit her own list of authors as editor-at-large for the Random House imprint. Hershey's little Random position has not been filled. The editorial department will continue under Susan Kamil.
Scott Shannon, Publisher of Del Rey/Spectra, adds responsibility as mass market publisher for BBD, and Kim Hovey is associate publisher for the new group. Both will continue to report to McGuire. Gina Wachtel has been elevated to mass market associate publisher. Trade paperbacks for all the BBD lines will continue to be published under the direction of senior vice president and publisher Jane von Mehren.
Since an earlier consolidation of Bantam Dell, some departments already had merged, including publicity and rights. Until now, however, Ballantine and Bantam Dell had retained separate editorial departments.
Monday, April 12, 2010
Pulitzer Winner Harding to Publish With Random House
Paul Harding, winner of the 2010 Pulitzer Prize for Fiction for his novel TINKERS, is under contract with Random House for his next two books. Random House Editor in Chief Susan Kamil, who is also the Editorial Director of The Dial Press, acquired U.S. rights at auction from Ellen Levine at Trident Media Group and will edit the novels.
The first novel in the contract will be titled ENON, and will be set in the same fictional town as TINKERS.
“We are thrilled that Paul Harding has been the recipient of this honor,” said Kamil. “He is a writer of astonishing talent and we are looking forward to being the publisher of his future work.”
Pulitzer Prize Winners Announced for 2010
Pulitzer Prize winners for 2010 Letters, Ddrama and Music were announced today April 12, 2010)
Paul Harding won the fiction prize for his novel “Tinkers,” while the drama award went to the musical “Next to Normal,” with music by Tom Kitt and book and lyrics by Brian Yorkey. Liaquat Ahamed won the history award for “Lords of Finance: The Bankers Who Broke the World,” the biography prize went to T. J. Stiles for “The First Tycoon: The Epic Life of Cornelius Vanderbilt” and the general nonfiction prize went to David E. Hoffman for “The Dead Hand: The Untold Story of the Cold War Arms Race and Its Dangerous Legacy.”
Jennifer Higdon won the music prize for her Violin Concerto while the poetry award went to Rae Armantrout for “Versed.”
For the complete list of winners in Letters, Drama and Music go to The New York Times. http://www.nytimes.com/2010/04/13/business/media/2010-Arts-Pulitzers.html
Subscribe to:
Posts (Atom)
