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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The group of more than 900 authors will launch a new initiative, possibly next week. Continue reading at Publishers Weekly
[ Publishers Weekly | 2014-09-04 00:00:00 UTC ]
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Stuart Applebaum, who rose from a publicist at Bantam Books to become the dean of corporate communications directors in the publishing industry, has been named emeritus executive v-p, corporate communications at Penguin Random House. Continue reading at Publishers Weekly
[ Publishers Weekly | 2014-08-27 00:00:00 UTC ]
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Penguin imprint Hamish Hamilton is publishing Ali Smith's Man Booker longlisted How To Be... Continue reading at The Bookseller
[ The Bookseller | 2014-08-08 00:00:00 UTC ]
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The owner of literary agency Sanford J. Greenburger Associates has joined the board of shareholders at OR Books. Continue reading at Publishers Weekly
[ Publishers Weekly | 2014-07-24 00:00:00 UTC ]
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In a filing with the Second Circuit last week, Google defended its practice of displaying snippets in Google Book Search. Continue reading at Publishers Weekly
[ Publishers Weekly | 2014-07-08 00:00:00 UTC ]
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The German trade association the Börsenverein has officially lodged a complaint against... Continue reading at The Bookseller
[ The Bookseller | 2014-06-24 00:00:00 UTC ]
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Australian upstart DNAML says it was was harmed by the 2010 price-fixing scheme executed by Apple and the five agency publishers. Continue reading at Publishers Weekly
[ Publishers Weekly | 2014-06-09 00:00:00 UTC ]
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Next year China is the guest of honor at Book Expo America’s Global Market Forum and is planning a host of events for the occasion. Vice Minister Wu Shulin details his country’s goals and expectations in this interview with Publishers Weekly. Continue reading at Publishers Weekly
[ Publishers Weekly | 2014-05-29 00:00:00 UTC ]
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If you liked the old Phaidon, the formerly U.K.-based illustrated book publisher—known for lavishly produced books on contemporary art, design, food, and architecture—then you’ll love the new Phaidon. Continue reading at Publishers Weekly
[ Publishers Weekly | 2014-05-16 00:00:00 UTC ]
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In one of his longest shareholder letters, Amazon founder Jeff Bezos gave readers a “tour” of 21 Amazon initiatives. Continue reading at Publishers Weekly
[ Publishers Weekly | 2014-04-10 00:00:00 UTC ]
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With a debate brewing about how much indie authors can, and do, earn, PW asked Mark Coker, founder of Smashwords, to weigh in. Continue reading at Publishers Weekly
[ Publishers Weekly | 2014-02-20 00:00:00 UTC ]
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Corporation wants new facilities to drag soap out of 1980s into 21st century and more gentrified east London.The cost of building the new set for BBC1's EastEnders is likely to top £15m, a tender document for the sprawling lot in north London has revealed.The new facilities at the BBC's studios... Continue reading at The Guardian
[ The Guardian | 2014-02-14 00:00:00 UTC ]
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After years of financial problems, independent publishing house MacAdam/Cage filed for Chapter 7 liquidation last month in a San Francisco court. Continue reading at Publishers Weekly
[ Publishers Weekly | 2014-02-03 00:00:00 UTC ]
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Amid more legal maneuvering, Judge Denise Cote this week officially set a briefing schedule for Apple’s ebook damages trial. Continue reading at Publishers Weekly
[ Publishers Weekly | 2014-01-30 00:00:00 UTC ]
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Agent Scully actress will use her 'ingrained knowledge and rhythm' for SF to pen multi-volume EarthEnd SagaAfter delving into the paranormal for years as The X-Files' resident sceptic Dr Dana Scully, actor Gillian Anderson is set to create her own science-fictional universe – but this time in... Continue reading at The Guardian
[ The Guardian | 2014-01-15 00:00:00 UTC ]
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Australian publisher Allen & Unwin has bought a majority share in Atlantic Books, following a... Continue reading at The Bookseller
[ The Bookseller | 2014-01-14 00:00:00 UTC ]
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A number of law firms have filed class action lawsuits against Barnes & Noble that charge the company misled investors between February 25, 2013 and December 5, 2013. Continue reading at Publishers Weekly
[ Publishers Weekly | 2014-01-14 00:00:00 UTC ]
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Good Enterprises, whose holdings include the cookbook publisher Good Books, filed voluntary Chapter 7 bankruptcy December 10 and is preparing to liquidate the company. Continue reading at Publishers Weekly
[ Publishers Weekly | 2013-12-11 00:00:00 UTC ]
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Tribune Co. took a key step in the planned spinoff of its publishing business on Monday, filing a Form 10 registration statement with the Securities and Exchange Commission. Continue reading at Baltimore Sun
[ Baltimore Sun | 2013-12-10 00:00:00 UTC ]
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Commonly used for everything from program help to ebooks, Microsoft’s Compiled HTML Help (CHM) format works very well on the PC. CHM files aren’t always as easy to browse on other platforms, though, so if you need to access their content elsewhere then you might be interested in CHM to PDF. This... Continue reading at Betanews
[ Betanews | 2013-11-25 00:00:00 UTC ]
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