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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PublisHer's Bodour Al Qasimi leads the opening of a Korean chapter in Seoul, advancing women 'without having to change who we are.' The post PublisHer Opens a Korean Chapter at Seoul’s Book Fair appeared first on Publishing Perspectives. Continue reading at Publishing Perspectives
[ Publishing Perspectives | 2023-06-20 20:19:45 UTC ]
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Claudia Cravens, author of 'Lucky Red' (Dial), brings together 11 subversive western novels that break the gun-toting, spittoon-clanking mold. Continue reading at Publishers Weekly
[ Publishers Weekly | 2023-06-16 04:00:00 UTC ]
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With oral arguments set for June 7 before a judge on the Fifth Circuit Court of Appeals, librarians and publishers have weighed in on a closely watched case in Texas concerning the banning of books in Llano County, Texas. Continue reading at Publishers Weekly
[ Publishers Weekly | 2023-06-05 04:00:00 UTC ]
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Barnes & Noble workers at the Park Slope, Brooklyn, store filed for a union election with the National Labor Relations Board on May 25, making them the third B&N store to do so in less than two months. Continue reading at Publishers Weekly
[ Publishers Weekly | 2023-05-25 04:00:00 UTC ]
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As expected, lawyers for Simon & Schuster and bestselling author Bob Woodward have filed two new motions to dismiss an amended $50 million lawsuit filed by former president Donald Trump alleging that Woodward and S&S breached Trump’s copyright interests by publishing 'The Trump Tapes:... Continue reading at Publishers Weekly
[ Publishers Weekly | 2023-05-23 04:00:00 UTC ]
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Digital publisher and owner of Vice News and Vice TV was once valued at $6bn but has agreed sale for $225mVice, the once high-flying media startup that reached a peak valuation of nearly $6bn (£5bn), has filed for bankruptcy protection in the US as the digital publisher engineers a cut-price... Continue reading at The Guardian
[ The Guardian | 2023-05-15 09:23:50 UTC ]
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VIZ Media has launched a new service that will make English versions of the latest chapters of select manga titles available to subscribers as soon as they're released in Japan. The service, called VIZ Manga, features manga published by Shogakugan and Shueisha and costs $2 a month. Its current... Continue reading at Engadget
[ Engadget | 2023-05-09 04:57:23 UTC ]
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Writing a children's book about bionics and medical engineering was an opportunity not to be missed for the author, a triple amputee. Continue reading at Media Week
[ Media Week | 2023-04-28 09:22:08 UTC ]
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The 35-year-old organization is amping up its advocacy on behalf of LGBTQ writers. Continue reading at Publishers Weekly
[ Publishers Weekly | 2023-04-28 04:00:00 UTC ]
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Call or swing by your local comic book shop and add these great books to your pull list. Here are 1 new comics to read in April 2023. Continue reading at Book Riot
[ Book Riot | 2023-04-05 10:30:00 UTC ]
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You might not want to use Google Drive for large system backups or other many-file transfers. Ars Technica has learned Google quietly instituted a user "creation limit" of 5 million files sometime in February. As Reddit user ra13 discovered, personal (Google One) and business (Google Workspace)... Continue reading at Engadget
[ Engadget | 2023-04-03 19:12:30 UTC ]
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Sales at Penguin Random House rose nearly 5% in 2022, but rising costs resulted in an 11.8% decline in earnings, which dropped to €666 million. Continue reading at Publishers Weekly
[ Publishers Weekly | 2023-03-30 04:00:00 UTC ]
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The buzziest programming of the run-up to Bologna Children's Book Fair focus on artificial intelligence and its impact on publishing. The post ‘AI’ at Bologna: The Hair-Raising Topic of 2023 appeared first on Publishing Perspectives. Continue reading at Publishing Perspectives
[ Publishing Perspectives | 2023-03-01 11:22:06 UTC ]
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Literary Hub is pleased to reveal the cover for Athena Dixon’s memoir in essays The Loneliness Files, forthcoming from Tin House this fall. Here’s a bit about the book from the publisher: In Spring 2020, the world as we knew it ground to a halt at the start of the COVID pandemic—streets emptied,... Continue reading at Literrary Hub
[ Literrary Hub | 2023-02-28 15:00:10 UTC ]
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The Cambridge, Harvard, and Princeton university presses and Simon & Schuster published the 2024 PROSE Excellence Awards. The post Princeton University Press’ ‘Spiderweb Capitalism’ Wins Hawkins Award appeared first on Publishing Perspectives. Continue reading at Publishing Perspectives
[ Publishing Perspectives | 2023-02-23 14:57:25 UTC ]
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Whether completed series or upcoming releases, find recommendations for the best shōnen manga to read this year — like To Your Eternity by Yoshitoki Ōima. Continue reading at Book Riot
[ Book Riot | 2023-02-22 11:37:00 UTC ]
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A minister’s ode to commitment lands at Convergent, magician Taylor Hughes brings a book to Salem, actress Michelle McKinney Hammond moves to Whitaker, and more. Continue reading at Publishers Weekly
[ Publishers Weekly | 2023-01-11 05:00:00 UTC ]
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Book Club for Inmates, a program run in federal penitentiaries, is having a big impact on inmates at Grand Valley Institution for Women in Kitchener, Ont., helping them develop great discussions and open up about their own lives. Continue reading at CBC
[ CBC | 2023-01-03 11:00:00 UTC ]
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Mitchell Kaplan, owner of Books & Books bookstore chain in Miami, has launched HUBB — Helping Ukrainian Books and Booksellers. Together with a group of literary friends and booksellers, HUBB is sending its first grant of $10,000 this week. Continue reading at Publishers Weekly
[ Publishers Weekly | 2022-12-21 05:00:00 UTC ]
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Ethan Chatagnier, author of the novel 'Singer Distance,' recommends 10 mind-blowing stories about encountering alien life. Continue reading at Publishers Weekly
[ Publishers Weekly | 2022-11-21 05:00:00 UTC ]
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