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 company called off a proposed merger with its chief competitor, Quad/Graphics, following a Justice Department challenge on antitrust grounds. Since then, LSC, the nation's largest book printer in terms of market share, has looked to reduce its position in magazine and catalog printing, closing or planning to close eight manufacturing plants in order to narrow its focus on its books business. Quad/Graphics, meanwhile, has been moving in the opposite direction, as the pseudonymous writer D. Eadward Tree points out, seemingly creating two separate lanes in which the companies can maintain dominant positions unimpeded. More immediately concerning for LSC is the need to reconcile its $893 million in debt against diminishing revenues, which declined 17% year-over-year in the fourth quarter of 2019 to $778 million. Concurrent with the earnings report on March 2, LSC announced that as of December 31, 2019, it fell into noncompliance with its financial covenants, essentially in danger of defaulting on its loans because its debt-to-equity ratio now exceeds the maximum level permitted in its agreements with lenders. The company says it's reached a forbearance agreement with its lenders,... Continue reading at 'Folio Magazine'
[ Folio Magazine | 2020-03-25 18:34:08 UTC ]
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Faber & Faber has signed a popular science book on the psychology of communication by the author Ian Leslie. Continue reading at The Bookseller
[ The Bookseller | 2018-03-15 00:00:00 UTC ]
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A wave of “empowering” books supporting current conversations around feminism are set to hit the market this year. Continue reading at The Bookseller
[ The Bookseller | 2018-02-02 00:00:00 UTC ]
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Mark Zuckerberg recently shared that Facebook is revamping the news feed to prioritize content from friends over content from brands, businesses and publishers. Facebook's stock price dropped 5 percent immediately following the announcement. This change should not be taken lightly. While... Continue reading at AdWeek
[ AdWeek | 2018-01-27 00:00:00 UTC ]
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Facing high demand and a pushed-up pub date, booksellers big and small are scrambling to get copies of Michael Wolff's political exposé. Continue reading at Publishers Weekly
[ Publishers Weekly | 2018-01-05 00:00:00 UTC ]
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The music streaming service faces a claim on behalf of artists including Neil Young and Janis Joplin as it prepares a share saleMusic streaming service Spotify has been sued by a music publishing company for $1.6bn (£1.18bn), for hosting songs it allegedly doesn’t have the full rights to. The... Continue reading at The Guardian
[ The Guardian | 2018-01-03 00:00:00 UTC ]
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MI5 monitored author Kingsley Amis after an intercepted letter described him as a “very promising” member of the Communist Party while at Oxford, according to the Telegraph. Continue reading at The Bookseller
[ The Bookseller | 2017-11-29 00:00:00 UTC ]
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While many bricks-and-mortar retailers have struggled financially in recent years, Hudson has filed the paperwork for an initial public offering it hopes to make in 2018. Continue reading at Publishers Weekly
[ Publishers Weekly | 2017-11-24 00:00:00 UTC ]
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Booksellers are gearing up for a "very exciting and busy" Super Thursday today (5th October), although one has argued the multitudes of releases may mean some "great" titles get overlooked. Continue reading at The Bookseller
[ The Bookseller | 2017-10-05 00:00:00 UTC ]
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The multimedia medical communications company has expanded to address customer data. The post Frontline Medical Communications Expands Digital Publishing and Sales Team appeared first on Folio:. Continue reading at Folio Magazine
[ Folio Magazine | 2017-09-14 00:00:00 UTC ]
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Viking is preparing for a "huge" campaign around the publication of John le Carré's new book, A Legacy of Spies, dubbed "the literary event of the autumn". Continue reading at The Bookseller
[ The Bookseller | 2017-09-06 00:00:00 UTC ]
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Jacqui Small, group publisher of the eponymous Quarto imprint, is preparing to step down from her full-time role at the end of the year, which will also see the closure of the list after nearly 20 years. Continue reading at The Bookseller
[ The Bookseller | 2017-09-05 00:00:00 UTC ]
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The year so far shows 'modest growth' in Brazil's beleaguered market, says Marcos da Veiga Pereira ahead of Rio's book biennial and rights trading program. The post Rights Watch: Rio’s Biennial Book Fair Prepares Its Agents & Business Center appeared first on Publishing Perspectives. Continue reading at Publishing Perspectives
[ Publishing Perspectives | 2017-08-24 00:00:00 UTC ]
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Two new people are joining the Penguin General communications team: Hannah Ludbrook and Cat Mitchell. Continue reading at The Bookseller
[ The Bookseller | 2017-07-25 00:00:00 UTC ]
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“The Tempest,” coming out next June, is the concluding part of The League of Extraordinary Gentlemen comic book series by Alan Moore and Kevin O’Neill. Continue reading at The New York Times
[ The New York Times | 2017-07-21 00:00:00 UTC ]
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Crain Communications, the parent company of brands including Advertising Age and Crain's Detroit Business, has changed its ownership structure with the buyout of longtime President Rance Crain and his family.Crain Communications acquired Rance Crain's 50% stake in the company, giving Chairman... Continue reading at Advertising Age
[ Advertising Age | 2017-07-13 00:00:00 UTC ]
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328 retail businesses have filed for bankruptcy in 2017, up more than 75 from last year. Kepler's Books in the Bay Area is determined not to be one of them. Continue reading at Publishers Weekly
[ Publishers Weekly | 2017-07-07 00:00:00 UTC ]
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Pluto Press is to publish an oral history of the 2010 student protests entitled Student Revolt by Matt Myers. Continue reading at The Bookseller
[ The Bookseller | 2017-06-17 00:00:00 UTC ]
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An industry-wide #LoveAudio campaign is launching next week, designed to shine a spotlight on the fastest-growing sector in UK publishing. Continue reading at The Bookseller
[ The Bookseller | 2017-06-16 00:00:00 UTC ]
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Docs.com is a file sharing service from Microsoft that lets you publish and share content from Word, Excel, PowerPoint, OneNote, Sway, and Minecraft world, as well as PDF documents. It was originally created as part of a collaboration with Facebook in 2010, and then revamped in 2015. However,... Continue reading at Betanews
[ Betanews | 2017-06-09 00:00:00 UTC ]
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William D. Adams, chairman of the National Endowment for the Humanities (NEH), has resigned from his post shortly ahead of news that the White House plans its "orderly closure". Continue reading at The Bookseller
[ The Bookseller | 2017-05-26 00:00:00 UTC ]
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