Scholastic Corp. is looking to sell all or part of its headquarters in the heart of SoHo’s cast-iron district.The book publishing giant said Monday it hired commercial broker Newmark Group to seek out parties interested in acquiring some or all of the adjoining buildings at 555-557 Broadway, then leasing space back to the publisher of Harry Potter and Clifford the Big Red Dog. The company said sale proceeds would support “capital allocation priorities,” including debt reduction and share repurchases. Scholastic’s plan to lighten its real estate load is part of a broader streamlining plan. Revenue at the publishing house with 5,000 U.S.-based employees decreased last year by 7%, to $1.6 billion, while operating income sank by 85%, to $15 million. The company said Monday that new leadership has been appointed in its children’s publishing and education solutions groups with “clear mandates to refine strategies.” A spokeswoman for the publisher, Anne Sparkman, declined to comment on Monday’s announcement.Scholastic’s share price jumped by 10% on today’s news, to $21 a share. It has lost more than half its value since longtime CEO Dick Robinson passed away four years ago at age 84. Robinson declined to pass control onto his two adult sons and instead bequeathed his shares to Iole Luccese, an executive who was his long “longtime romantic partner,” the Wall Street Journal reported. Scholastic leases 10 of the 12 floors at 555-557 Broadway, or about 300,000 square feet. The... Continue reading at 'Crains New York'
[ Crains New York | 2025-06-23 19:34:33 UTC ]
Actor, 82, said her new role as an alien in the sci-fi series has made ‘an old woman very happy’Miriam Margolyes will feature in one of the 60th-anniversary episodes of Doctor Who that will air this November, the BBC has announced.Margolyes, 82, who has appeared in Blackadder, Babe and the Harry... Continue reading at The Guardian
[ The Guardian | 2023-09-14 18:30:43 UTC ]
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Rare copy of Harry Potter and the Philosopher’s Stone featuring ‘JA Rowling’ typo sold to local museum in OxfordshireThe auction of a rare Harry Potter book found at an Oxfordshire primary school which originally failed to sell has seen a “fairytale ending” as the volume was eventually bought... Continue reading at The Guardian
[ The Guardian | 2023-09-08 14:44:47 UTC ]
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The Philippines in 2025 will become the second Southeast Asian book publishing market to be a Frankfurt Book Fair guest of honor. The post Rights Edition: Frankfurt Names the Philippines Its 2025 Guest of Honor appeared first on Publishing Perspectives. Continue reading at Publishing Perspectives
[ Publishing Perspectives | 2023-08-18 14:58:54 UTC ]
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Scholastic has announced a series of executive changes that will result in a new chief financial officer, president of its international group, and head of its education division. Continue reading at Publishers Weekly
[ Publishers Weekly | 2023-08-16 04:00:00 UTC ]
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Jess deCourcy Hinds hopefully predicts a new trend in book publishing: the librarian memoir. | Lit Hub Libraries “It’s like someone hitting you on the side of the head. It’s marvelous.” Former Velvet Underground frontman Lou Reed talks to Allan Jones about making an unlistenable album. | Lit Hub... Continue reading at Literrary Hub
[ Literrary Hub | 2023-08-11 10:30:06 UTC ]
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Riot’s involvement in collegiate esports, which includes its partnership with GGTech as well as the Riot Scholastic Association of America, signals how the company is playing the long game with its competitive gaming products. Continue reading at Digiday
[ Digiday | 2023-08-11 04:01:00 UTC ]
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The sale comes after Paramount failed to sell the book publishing giant to Penguin Random House. Iconic American publishing company Simon & Schuster has a new owner. On Monday, the publisher was acquired by private equity firm KKR in a $1.62 billion deal. Here’s what you need to know.Read... Continue reading at Fast Company
[ Fast Company | 2023-08-08 08:50:00 UTC ]
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PEN America says it sees book publishing 'at a crossroads' in a new report warning of cancel culture, review-bombing, and book banning. The post Beyond Book Banning: PEN America Warns of ‘Booklash,’ Self-Censorship appeared first on Publishing Perspectives. Continue reading at Publishing Perspectives
[ Publishing Perspectives | 2023-08-07 21:16:27 UTC ]
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Harry Potter and the Cursed Child is marking its seventh anniversary at London’s Palace Theatre Continue reading at BBC News
[ BBC News | 2023-07-30 06:50:32 UTC ]
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The annual report from Spain's publishers describes a 10th consecutive year of growth for the country's book market, at €2.7 billion. The post Spain’s Book Market in 2022: Up 5.5 Percent appeared first on Publishing Perspectives. Continue reading at Publishing Perspectives
[ Publishing Perspectives | 2023-07-27 20:58:08 UTC ]
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In a week filled with bad book business news and a down year for the children's book market, Scholastic nonetheless delivered a generally upbeat financial report for its latest fiscal year—thanks in no small part to the company's booming book fair business. Continue reading at Publishers Weekly
[ Publishers Weekly | 2023-07-20 04:00:00 UTC ]
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First edition of Harry Potter and the Philosopher’s Stone bought by UK book collector goes up for auction next weekIt is a book that has certainly lived up to its name: a rare edition of Harry Potter and the Philosopher’s Stone bought for 30p could fetch up to £5,000 at auction.The first novel... Continue reading at The Guardian
[ The Guardian | 2023-06-30 09:29:28 UTC ]
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Read on for news about Random House Children's Books' publishing plans for Afro Unicorn; Scholastic and Insight Editions' OMG POP! books; Really Big Coloring Books' range of products featuring PBS Kids properties; MerryMakers' launch of an InvestiGators licensing program; a new licensing effort... Continue reading at Publishers Weekly
[ Publishers Weekly | 2023-06-29 04:00:00 UTC ]
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You can get your kid a new e-reader or tablet at a discount from Amazon right now if you're looking to stoke their love of reading or just simply want to get them a new toy. The 8GB Kindle Paperwhite Kids is currently on sale for $90 for Prime members, which is 44 percent off its list price of... Continue reading at Engadget
[ Engadget | 2023-06-21 10:55:36 UTC ]
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Obsessively scratching her scalp, while simultaneously chiding herself not to, Kendra Rae Phillips sits on a MetroNorth train anxious and jittery. She’s worried about being found, after being found out. Every lingering eye incites more sweat, and more scratching. Relief only comes when her train... Continue reading at Electric Literature
[ Electric Literature | 2023-06-19 11:07:00 UTC ]
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Prepare your ovenable protein of choice, hang out the ornaments and make haste to invite your friends. We’re rapidly approaching this year’s Prime Day, and so it’s about time you got yourself ready to indulge in Amazon’s two-day sales event. We’ve published our latest guide to help you get set,... Continue reading at Engadget
[ Engadget | 2023-06-16 11:15:09 UTC ]
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In 1926, with the General Strike looming and the right warning of a Bolshevik revolution, the BBC found itself in a dreadful dilemma. Writer Jack Thorne on why he turned this into ‘a love letter to people in authority’Jack Thorne is a furiously busy scriptwriter and, although he’s celebrated for... Continue reading at The Guardian
[ The Guardian | 2023-06-05 07:00:22 UTC ]
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The Harry Potter publisher ascribes its record profits to a hunger for affordable diversion. That’s the magic of booksIn the gloom of a UK economy teetering on the edge of recession, a glittering puff of smoke wafted up last week from the publisher that will for ever be associated with Harry... Continue reading at The Guardian
[ The Guardian | 2023-06-04 17:25:05 UTC ]
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The Audio Publishers Association finds in its annual report that audiobook sales generated $1.8 billion in the United States in 2022. The post APA Report: US Sees Double-Digit Audiobook Sales Growth for 11th Year appeared first on Publishing Perspectives. Continue reading at Publishing Perspectives
[ Publishing Perspectives | 2023-06-01 15:27:14 UTC ]
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Still 8.6 percent above 2019's total revenues, the US market in 2022 was 2.6 percent below 2021's revenue level, the AAP reports. The post US Book Publishing Revenues in 2022 Were $28 Billion: AAP StatShot appeared first on Publishing Perspectives. Continue reading at Publishing Perspectives
[ Publishing Perspectives | 2023-05-31 20:54:37 UTC ]
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