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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IT professionals are accustomed to spending too much money to upgrade their skills and land new roles. But, these days, it’s not as necessary. That’s because web-based resources are available that are far more cost-effective—for example, the 2022 CompTIA and AWS Practice Exam E-Book Bundle,... Continue reading at PC World
[ PC World | 2022-05-20 08:00:00 UTC ]
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The pending departure of Unnamed Press executive editor Olivia Taylor Smith for Simon & Schuster is just the latest development for the edgy Los Angeles independent press. Continue reading at Publishers Weekly
[ Publishers Weekly | 2022-05-06 04:00:00 UTC ]
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Based on documents recovered from his compound, Nelly Lahoud argues that al-Qaeda and its leader were greatly diminished after 9/11. Continue reading at The Washington Post
[ The Washington Post | 2022-04-15 12:00:38 UTC ]
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The reconciled FY2022 budget signed by President Biden last week contained only flat funding for the Library Services and Technology Act—despite the House last summer approving a $9 million increase. “This disappointment is a wake-up call for library advocates," said ALA President Patty Wong. Continue reading at Publishers Weekly
[ Publishers Weekly | 2022-03-17 04:00:00 UTC ]
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W H Smith shareholders have approved plans to pay chief executive Carl Cowling a £550,000 bonus, despite threats of a revolt earlier this week. Continue reading at The Bookseller
[ The Bookseller | 2022-01-19 10:46:51 UTC ]
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Candlestick Press is planning to publish a record 22 titles this year and says sales in 2021 were up 23% on the previous 12 months. Continue reading at The Bookseller
[ The Bookseller | 2022-01-06 13:52:51 UTC ]
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The Publishers Association and the Federation of European Publishers have voiced their support for the Association of American Publishers’ challenge of an “unprecedented, unjustified” Maryland law which could force publishers both in the US and abroad to license e-books to the state's public... Continue reading at The Bookseller
[ The Bookseller | 2021-12-20 16:08:03 UTC ]
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Hachette Livre owner Lagardère has raised its publishing division's profitability outlook to 13.5%. Continue reading at The Bookseller
[ The Bookseller | 2021-12-20 11:14:48 UTC ]
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Penguin Random House and Simon & Schuster are putting up a fight against federal efforts to scuttle their merger, alleging the government is wrong. Continue reading at Los Angeles Times
[ Los Angeles Times | 2021-12-13 21:40:35 UTC ]
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Profile has acquired the Cundill History Prize-winning Blood on the River: A Chronicle of Mutiny and Freedom on the Wild Coast, a "gripping and immersive" work of history uncovering a little-known slave revolt, by Marjoleine Kars. Continue reading at The Bookseller
[ The Bookseller | 2021-12-13 00:06:45 UTC ]
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In a November 19 letter, lawyers for the plaintiff publishers outlined seven “categories” of requested documents yet to be turned over by the Internet Archive and accused the IA of "hoping to run out the clock” on discovery. Discovery in the case is due to close mid-December. Continue reading at Publishers Weekly
[ Publishers Weekly | 2021-11-21 05:00:00 UTC ]
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The Justice Department is suing to block a $2.2 billion book publishing deal that would have reshaped the industry Continue reading at ABC News
[ ABC News | 2021-11-02 21:39:48 UTC ]
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Know before you go: The Frankfurt Conference tracks on Monday and Tuesday will orient you quickly and efficiently to Buchmesse 2021. The post Get the Jump on Frankfurt: A Concise Preparation for Academic Publishing appeared first on Publishing Perspectives. Continue reading at Publishing Perspectives
[ Publishing Perspectives | 2021-10-06 11:42:17 UTC ]
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Six months after it acquired LSC Communications, Atlas Holdings has renamed the book division Lakeside Book Company. Continue reading at Publishers Weekly
[ Publishers Weekly | 2021-06-08 04:00:00 UTC ]
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Wake: The Hidden History of Women-Led Slave Revolts by Rebecca Hall and Hugo Martinez is a riveting combination of graphic memoir and inspirational scholarship. An attorney frustrated by repeated encounters with sexism and racism in the criminal justice system, Hall returned to pursue a PhD in... Continue reading at The Millions
[ The Millions | 2021-05-21 10:00:17 UTC ]
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For the second year in a row, the in-person Bologna Children’s Book Fair has been canceled and replaced with a virtual event, which this year runs June 14–17. In addition to its usual children's programs, organizers have added other events led by a track for general trade professionals. Continue reading at Publishers Weekly
[ Publishers Weekly | 2021-05-21 04:00:00 UTC ]
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'WAKE: The Hidden History of Women-Led Slave Revolts' by Rebecca Hall and Hugo Martinez is a riveting combination of memoir and inspirational scholarship. In this eight-page excerpt Hall's efforts to research a slave revolt in 1712 mark the first steps of a quest that will take her to 18th... Continue reading at Publishers Weekly
[ Publishers Weekly | 2021-05-19 04:00:00 UTC ]
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A proxy battle over the control of Lagardère, the parent company of Hachette Livre, appears headed to a resolution, with Arnaud Lagardère willing to give up some of his family's power of the company. Continue reading at Publishers Weekly
[ Publishers Weekly | 2021-04-26 04:00:00 UTC ]
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Hodder & Stoughton has acquired Firmament by YouTube scientist and science communicator Simon Clark. Continue reading at The Bookseller
[ The Bookseller | 2021-04-18 09:41:33 UTC ]
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Scheduled to launch sometime in the spring, BookClub is a virtual book club platform driven by author-led book discussions and designed for mobile devices. Continue reading at Publishers Weekly
[ Publishers Weekly | 2021-03-25 04:00:00 UTC ]
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