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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Children's publisher Ragged Bears Publishing has filed for administration. The independent... Continue reading at The Bookseller
[ The Bookseller | 2012-02-29 00:00:00 UTC ]
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Communications agency Four Communications Group has bought a 60% stake in consultancy Colman... Continue reading at The Bookseller
[ The Bookseller | 2012-02-21 00:00:00 UTC ]
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The Economist is the magazine industry's undisputed star performer, achieving 61 consecutive circulation rises over the last 31 years, but group chief executive Andrew Rashbass expects global print sales to fall for the first time in 2012, so why is he "delighted"? Continue reading at Media Week
[ Media Week | 2012-02-08 00:00:00 UTC ]
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A non-profit body representing the interests of self-published authors will launch this spring... Continue reading at The Bookseller
[ The Bookseller | 2012-02-06 00:00:00 UTC ]
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Lawyers acting for the plaintiffs in the case against Apple and major publishers in the US over e... Continue reading at The Bookseller
[ The Bookseller | 2012-01-23 00:00:00 UTC ]
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Jeff Kinney, author of the Diary of a Wimpy Kid series, has filed a trademark lawsuit against... Continue reading at The Bookseller
[ The Bookseller | 2011-12-22 00:00:00 UTC ]
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Bounce! Sales & Marketing Ltd is to expand the number of publishers it represents following... Continue reading at The Bookseller
[ The Bookseller | 2011-12-12 00:00:00 UTC ]
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John Blake has promoted four members of staff to reflect a new emphasis on digital publishing for... Continue reading at The Bookseller
[ The Bookseller | 2011-12-08 00:00:00 UTC ]
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Bonnier Corporation, publisher of magazines including Field & Stream and Outdoor Life, has purchased four hunting expos from Mequon, Wisconsin-based Target Communications for an undisclosed sum. Continue reading at Folio Magazine
[ Folio Magazine | 2011-12-07 00:00:00 UTC ]
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Written By: Benedicte Page Publication Date: Thu, 13/10/2011 - 16:12 Around 50 demonstrators, including women with children, are gathering outside Kensal Rise library in Brent this afternoon (13th October) as workmen prepare to board up the door and windows. The library was closed this... Continue reading at The Bookseller
[ The Bookseller | 2011-10-13 00:00:00 UTC ]
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Miamisburg, Ohio-based NewPage, one of the largest makers of magazine-quality paper, today Continue reading at Folio Magazine
[ Folio Magazine | 2011-09-08 00:00:00 UTC ]
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Gail Kump, a former executive and director of Midpoint Trade Books, filed a lawsuit last week against Eric Kampmann, the majority owner of the distributor, and minority owner Christopher Bell. Continue reading at Publishers Weekly
[ Publishers Weekly | 2011-09-05 00:00:00 UTC ]
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The Securities and Exchange Commission has charged a California man with insider trading in the run-up to the 2009 Disney-Marvel deal. The SEC says Toby G. Scammell took advantage of his girlfriend, an "extern" working at Disney's corporate strategy department, to learn about the company's $4... Continue reading at AllThingsD
[ AllThingsD | 2011-08-12 00:00:00 UTC ]
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Written By: Graeme Neill Publication Date: Thu, 23/06/2011 - 16:00 HMV Group shareholders have overwhelmingly approved the sale of Waterstone's to Alexander Mamut, clearing the way for the bookseller to become independent. In a vote held today at its general meeting, 99.96% of shareholders... Continue reading at The Bookseller
[ The Bookseller | 2011-06-23 00:00:00 UTC ]
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Written By: Philip Jones Publication Date: Thu, 23/06/2011 - 07:30 E-book versions of the seven Harry Potter novels are likely to move a step closer today with the launch of an immersive website based on the Harry Potter universe. read more Continue reading at The Bookseller
[ The Bookseller | 2011-06-22 00:00:00 UTC ]
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Written By: Philip Jones Publication Date: Thu, 19/05/2011 - 09:59 Amazon has told US publishers that it will begin accepting digital files in the ePub format in the near future and will also allow users of its Kindle device to read ePub files. read more Continue reading at The Bookseller
[ The Bookseller | 2011-05-19 00:00:00 UTC ]
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Written By: Barbara Casassus Publication Date: Wed, 11/05/2011 - 08:11 French publishers Albin Michel, Flammarion and Gallimard are suing Google for having scanned 9,797 books without prior permission for its Google Book Search programme, a publishing source told The Bookseller. Lawyers for... Continue reading at The Bookseller
[ The Bookseller | 2011-05-11 00:00:00 UTC ]
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Written By: Lisa Campbell Publication Date: Tue, 03/05/2011 - 08:25 Educational publisher Evans Publishing has filed a Company Voluntary Arrangement (CVA) after saying the school and library market has faced an "extremely tough 18 months". The 103-year-old company, which trades under the name... Continue reading at The Bookseller
[ The Bookseller | 2011-05-03 00:00:00 UTC ]
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Three weeks shy of a year ago, St. Martin's Press signed up a book by a Navy SEAL Team Six sniper, chronicling how he became an elite warrior and the battle that nearly cost him his life. Today, with news of Osama Bin Laden's death reverberating around the world, SMP is getting ready for a rush... Continue reading at Publishers Weekly
[ Publishers Weekly | 2011-05-02 00:00:00 UTC ]
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