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 ]
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The father of Jeffrey Dahmer, he wrote a memoir that one reviewer said sought to “peer not just into the soul of his son but into his own.” Continue reading at The New York Times
[ The New York Times | 2023-12-13 00:00:21 UTC ]
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The best science fiction and fantasy book deals of the day, curated by Book Riot. Continue reading at Book Riot
[ Book Riot | 2023-12-11 16:27:41 UTC ]
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Dav Pilkey's fifth Cat Kid Comic Club volume, 'Influencers,' is the #1 book in the country. Plus Nicole "the Holistic Psychologist" LePera returns with 'How to Be the Love You Seek,' and Lynn Painter, who writes rom-coms for teens and adults, has her best first week yet with 'Betting on You.' Continue reading at Publishers Weekly
[ Publishers Weekly | 2023-12-08 05:00:00 UTC ]
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Jeffery Deaver and Isabella Maldonado sell the first in a new series to Thomas & Mercer, Europa takes on International Booker finalist Robert Seethaler, and more. Continue reading at Publishers Weekly
[ Publishers Weekly | 2023-12-08 05:00:00 UTC ]
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The Game Awards got it wrong this year. One of the titles nominated for Best Independent Game, Dave the Diver, was produced by Nexon, one of the largest video game studios in South Korea. No matter how hard you squint, it is not indie. Dave the Diver is an excellent pixel-art game about deep-sea... Continue reading at Engadget
[ Engadget | 2023-12-01 20:52:11 UTC ]
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Check out this list of November children's book releases, which include books by Nina LaCour and Jane Mount. Continue reading at Book Riot
[ Book Riot | 2023-11-03 10:31:00 UTC ]
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One of the country's best known independent bookstores plans to use the bankruptcy process to become a smaller, modern, financially sustainable business. It is in the process of closing three of its seven locations. Continue reading at Publishers Weekly
[ Publishers Weekly | 2023-10-17 04:00:00 UTC ]
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Broadleaf is adding a book on the Enneagram—a personality typing system that burst into the religion publishing scene in 2016; IVP signs a prayer guide from religion scholars; and more. Continue reading at Publishers Weekly
[ Publishers Weekly | 2023-10-11 04:00:00 UTC ]
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AI will change the way that we work. Or so says the most fervent purveyors of the tech, which now includes Microsoft. But after seeing ChatGPT, Dall-E, and other AI systems integrated into the latest versions of Windows 11, Office, and the company’s Microsoft 365 platform, I can’t say that... Continue reading at PC World
[ PC World | 2023-09-26 17:00:00 UTC ]
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The best science fiction and fantasy book deals of the day, curated by Book Riot. Continue reading at Book Riot
[ Book Riot | 2023-09-11 13:32:52 UTC ]
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The #1 book in the country is 'The Brothers Hawthorne,' fourth in the Inheritance Games series by Jennifer Lynn Barnes. #2, 'Assistant to the Villain,' grew out of author Hannah Nicole Maehrer’s TikTok skits, and another BookTok favorite, Freida McFadden, debuts at #6 in the country with 'The... Continue reading at Publishers Weekly
[ Publishers Weekly | 2023-09-08 04:00:00 UTC ]
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Holt buys a posthumous memoir from Hilary Mantel, Liselle Sambury sells a YA dark academia fantasy to McElderry, and more. Continue reading at Publishers Weekly
[ Publishers Weekly | 2023-09-08 04:00:00 UTC ]
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The Italian Publishers Association and the market's booksellers are appealing for more government funding for poorer students' books. The post Italy’s Publishers Ask Rome to Raise Family Schoolbook Funding appeared first on Publishing Perspectives. Continue reading at Publishing Perspectives
[ Publishing Perspectives | 2023-09-07 22:09:46 UTC ]
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Jess deCourcy Hinds hopefully predicts a new trend in book publishing: the librarian memoir. | Lit Hub Libraries “It’s like someone hitting you on the side of the head. It’s marvelous.” Former Velvet Underground frontman Lou Reed talks to Allan Jones about making an unlistenable album. | Lit Hub... Continue reading at Literrary Hub
[ Literrary Hub | 2023-08-11 10:30:06 UTC ]
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Among the week's headlines: librarians, educators, and publishers grapple with new state book banning laws; bestselling author John Green responds to having his books pulled from library shelves; a proposed judgment has been filed in the Internet Archive copyright case; and PEN America publishes... Continue reading at Publishers Weekly
[ Publishers Weekly | 2023-08-11 04:00:00 UTC ]
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The country's largest operator of college and high school stores reached agreements with different lenders to give it more financial flexibility, helping to avert the possibility of the company closing. Continue reading at Publishers Weekly
[ Publishers Weekly | 2023-07-31 04:00:00 UTC ]
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The 28-page complaint claims that the law—which is set to take effect in September—would impose sweeping, vague, and unconstitutional content-based restrictions and unduly burden booksellers. Continue reading at Publishers Weekly
[ Publishers Weekly | 2023-07-25 04:00:00 UTC ]
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A decision by the e-tailer, to stop importing books from U.S. publishers that are destined to be sold in its stores in Europe in favor of sourcing them locally, is leading to higher costs and lost sales, publishers contend. Continue reading at Publishers Weekly
[ Publishers Weekly | 2023-07-12 04:00:00 UTC ]
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Mona Awad and Paul Tremblay allege that their books, which are copyrighted, were ‘used to train’ ChatGPT because the chatbot generated ‘very accurate summaries’ of the worksTwo authors have filed a lawsuit against OpenAI, the company behind the artificial intelligence tool ChatGPT, claiming that... Continue reading at The Guardian
[ The Guardian | 2023-07-05 14:33:31 UTC ]
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