After weeks of credible speculation and reporting, LSC Communications announced clarity around its reorganization plans, which includes filing for Chapter 11 bankruptcy with the Southern District of New York. The company was left with few option after accumulating at least $893 million in debt, and a balance sheet that saw continued declines, capped off by a 17% year-over-year drop in revenue in the fourth quarter of 2019. According to a company statement, it has “sufficient liquidity to continue operating its business,” which should have several publishers across the U.S. breathing a sigh of relief, at least for now. LSC is the largest book printer in the country, and also boasts a sizable clientele of magazines. In addition to filing for bankruptcy, the company secured $100 million in additional cash in debtor-to-possession financing from undisclosed lenders. It has also filed a number of “customary motions” to ensure it maintains business as usual and doesn’t fall behind in vendor payments. We previously reported that the failed merger with Quad/Graphics last year left LSC in a vulnerable position and that the company was closing as eight of its manufacturing plants across the country as one step forward in its plans to stabilize the organization. This was again addressed again by CEO Thomas Quinlan in today’s statement. “Since the termination of our merger… [we] have taken proactive and aggressive steps to improve our overall cost structure and streamline our... Continue reading at 'Folio Magazine'
[ Folio Magazine | 2020-04-13 15:00:01 UTC ]
Independent Publishers Group has acquired U.K.-based United Independent Distributors. IPG CEO Joe Matthews called the deal a “game-changing acquisition,” and one that will make IPG one of the world’s largest book distributors for indie publishers. Continue reading at Publishers Weekly
[ Publishers Weekly | 2021-10-20 04:00:00 UTC ]
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The purchase of Meredith Corp.'s magazine publishing operations is expected to close by the end of the year. Continue reading at Advertising Age
[ Advertising Age | 2021-10-06 23:04:39 UTC ]
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Yesterday, after months of speculation, the LA Times appointed its next executive editor. The paper has given the job to Kevin Merida, the editor in chief of The Undefeated, an arm of ESPN that reports on the intersection of sports, race, and culture; prior to working there, he spent twenty-two... Continue reading at Columbia Journalism Review
[ Columbia Journalism Review | 2021-05-04 12:30:57 UTC ]
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Three months after the post-Brexit transition period ended on 31st December, wholesalers and booksellers in Germany, one of the largest book export markets on the continent, have joined British publishers in concerns about delays and rising costs hitting the trade since the UK became a... Continue reading at The Bookseller
[ The Bookseller | 2021-03-31 15:59:15 UTC ]
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After the withdrawal of Bauer Media last year, the industry appeared to be on its death bed – but not for longAt 8.31am on a Thursday, Henry Oliver received a text message from his employer, alerting him to a company-wide Zoom call in 29 minutes’ time.The day was 2 April 2020, a week into New... Continue reading at The Guardian
[ The Guardian | 2021-01-16 19:00:40 UTC ]
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The private equity firm Atlas Holdings has completed its purchase of LSC Communications, the country's largest book printer, which filed for bankruptcy in April. Continue reading at Publishers Weekly
[ Publishers Weekly | 2020-12-07 05:00:00 UTC ]
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The world's largest book publishing trade show has announced a modernization project for future iterations. The post Frankfurter Buchmesse Announces Restructuring and Streamlining appeared first on Publishing Perspectives. Continue reading at Publishing Perspectives
[ Publishing Perspectives | 2020-11-13 20:51:30 UTC ]
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The outpouring of positive reflections on FOLIO: we have seen since our announcement that we will discontinue regular reporting on the magazine publishing industry is a testament to the dedication and talent of those who contributed to FOLIO’s success over so many years, including our team... Continue reading at Folio Magazine
[ Folio Magazine | 2020-07-31 15:27:55 UTC ]
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To our FOLIO: Community The outpouring of positive reflections on FOLIO: we have seen since our announcement that we will discontinue regular reporting on the magazine publishing industry is a testament to the dedication and talent of those who contributed to FOLIO:’s success over so many... Continue reading at Folio Magazine
[ Folio Magazine | 2020-07-31 15:27:55 UTC ]
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To our FOLIO: Community The outpouring of positive reflections on FOLIO: we have seen since our announcement that we will discontinue regular reporting on the magazine publishing industry is a testament to the dedication and talent of those who contributed to FOLIO:’s success over so many... Continue reading at Folio Magazine
[ Folio Magazine | 2020-07-31 15:27:55 UTC ]
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A report on the German publishing industry is focused on effects of the COVID-19 pandemic on continental Europe's largest book market. The post Coronavirus Impact: The Börsenverein’ Report on the German Market appeared first on Publishing Perspectives. Continue reading at Publishing Perspectives
[ Publishing Perspectives | 2020-07-09 14:42:48 UTC ]
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Ms. Canedy, a former journalist at The New York Times and the administrator of the Pulitzer Prizes, will run the namesake imprint at one of the country’s largest book publishers. Continue reading at The New York Times
[ The New York Times | 2020-07-06 14:06:33 UTC ]
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Unlike most mass-market magazine publishers, whose print books generally depend far more on subscriptions and advertising revenue than single-copy sales, the closures of newsstands, bookstores and other retail outlets stemming from shelter-in-place orders have robbed many independent, niche... Continue reading at Folio Magazine
[ Folio Magazine | 2020-04-23 16:55:51 UTC ]
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After weeks of credible speculation and reporting, LSC Communications announced clarity around its reorganization plans, which includes filing for Chapter 11 bankruptcy with the Southern District of New York. The company was left with few option after accumulating at least $893 million in... Continue reading at Folio Magazine
[ Folio Magazine | 2020-04-13 15:00:01 UTC ]
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LSC Communications, one of the country’s largest printers and its largest book printer, has filed for Chapter 11 bankruptcy. The company said it expects to operate normally as it works its way through the restructuring process. Continue reading at Publishers Weekly
[ Publishers Weekly | 2020-04-13 04:00:00 UTC ]
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Weeks after issuing an earnings that report that revealed the company lost $295 million last year, publication printer LSC Communications is preparing to file for Chapter 11 bankruptcy, Bloomberg reports, citing "people with knowledge of the plans." The news comes less than a year after the... Continue reading at Folio Magazine
[ Folio Magazine | 2020-03-25 18:34:08 UTC ]
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The worldwide system of Penguin Random House, world's largest book publisher, has pulled out of London Book Fair amid the mounting COVID-19 outbreak. The post Coronavirus: Penguin Random House Pulls out of London Book Fair appeared first on Publishing Perspectives. Continue reading at Publishing Perspectives
[ Publishing Perspectives | 2020-03-03 16:18:52 UTC ]
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"The challenge we have is that we don’t get visibility of the full extent of this, it’s a bit of a silent assassin," said one magazine publishing executive, speaking anonymously. The post ‘A silent assassin’: Brand safety tags slow publisher sites appeared first on Digiday. Continue reading at Digiday
[ Digiday | 2019-12-19 05:00:20 UTC ]
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For magazine publishing, 2019 has been a year full of births, deaths, mutants, zombies – and even a resurrection. The glass-half-full crowd will point to the findings of Mr. Magazine (Dr. Samir Husni) that the total number of magazine titles in the U.S. is at a record high. The half-empty folks... Continue reading at Publishing Executive
[ Publishing Executive | 2019-12-10 17:25:34 UTC ]
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The largest book event for publishers and authors in the Spanish-speaking world is burgeoning in size and value year after year. Continue reading at Publishers Weekly
[ Publishers Weekly | 2019-12-06 05:00:00 UTC ]
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