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 ]
Looking for a few more good reads before the new year? Here are some recommendations from the ‘Fast Company’ team. While 2021 was a banner year in book publishing, 2022 had its own remarkable moments. Travel book sales started bouncing back as people made vacation plans again, romance reached a... Continue reading at Fast Company
[ Fast Company | 2022-12-18 05:00:00 UTC ]
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A 19% increase in Scholastic's children's book publishing and distribution segment drove total sales up 12% in the second quarter, while operating income rose 20%. Continue reading at Publishers Weekly
[ Publishers Weekly | 2022-12-16 05:00:00 UTC ]
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Sony announced the release window today for Marvel’s Spider-Man 2, the sequel to 2018's Marvel's Spider-Man and 2020's Spider-Man: Miles Morales. The PlayStation 5 exclusive will launch in the fall of 2023.Insomniac Games’ sequel continues the stories of Peter Parker and Miles Morales as they... Continue reading at Engadget
[ Engadget | 2022-12-15 18:51:23 UTC ]
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The Gaumont-Scholastic Entertainment project is developing Down syndrome advocate Sofia Sanchez' 'Rocket Park' books for television. The post Scholastic in ‘Rocket Park’ Deal With France’s Gaumont appeared first on Publishing Perspectives. Continue reading at Publishing Perspectives
[ Publishing Perspectives | 2022-12-14 18:06:00 UTC ]
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Warner Bros. Interactive Entertainment today delayedHogwarts Legacy yet again, but the most demanding versions of the game are spared. Instead, the postponement pushes the PlayStation 4 and Xbox One versions back to April 4th, 2023, with the Nintendo Switch variant arriving on July... Continue reading at Engadget
[ Engadget | 2022-12-13 18:54:21 UTC ]
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The year’s autobiography big-hitters haven’t sold as well as expected, with buyers disenchanted by pricing and lack of feelgood topicsFrom actors and musicians to athletes and presenters, there are no shortage of celebrity memoirs on bookshop shelves. This year has seen new books published by a... Continue reading at The Guardian
[ The Guardian | 2022-12-09 10:52:17 UTC ]
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Audio production company Audio Up Media and book publishing house Harlequin Enterprises are teaming up to adapt 52 of the publisher's romance titles into scripted podcast series, with an eye to also turn these into--more highly monetizable--TV series. Audio Up, also home to mental health and... Continue reading at AdWeek
[ AdWeek | 2022-12-06 12:42:46 UTC ]
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In a report designed to measure the economic impact of NYC's various publishing segments, the first-of-its-kind study found that the number of book publishing jobs dipped 1.7% between 2010 and 2020, while bookselling jobs tumbled 37.1%. The average book publishing salary was $119,000, compared... Continue reading at Publishers Weekly
[ Publishers Weekly | 2022-12-01 05:00:00 UTC ]
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After publishing two issues, 'Astra Magazine' will shut down by the end of the year. The closure, the president of parent company Astra House Publishing said, will allow the company to focus on its book publishing business. Continue reading at Publishers Weekly
[ Publishers Weekly | 2022-11-29 05:00:00 UTC ]
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Instructions for using the online spreadsheet that accompanies our Book Publishing Startups in the U.S. 2022 report. Continue reading at Publishers Weekly
[ Publishers Weekly | 2022-11-18 05:00:00 UTC ]
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The online city guide and dining resource is partnering with Abrams on an Eater-branded series of cookbooks and city guides, which will release starting next year. Continue reading at Publishers Weekly
[ Publishers Weekly | 2022-11-08 05:00:00 UTC ]
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The failure of a recent bid to merge two large publishing companies shines a light on a central issue of cultural powerDespite a rise in self-publishing, commercial publishers are still the main gatekeepers of what arrives on our bookshelves. As such, they have great cultural and – if a book... Continue reading at The Guardian
[ The Guardian | 2022-11-04 18:25:28 UTC ]
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The pandemic, branding, and geopolitical politics were on the table in Juergen Boos' conversation with CEOs of Scholastic and Ravensburger. The post Publishing Perspectives Forum: ‘What Young Readers Need’ appeared first on Publishing Perspectives. Continue reading at Publishing Perspectives
[ Publishing Perspectives | 2022-11-03 14:51:13 UTC ]
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The first time I felt possessed by a fantasy series, I was fifteen. It was 2004, and from my family’s small computer room, I spent the after-dinner hours in a web forum devoted to NC-17 Harry Potter fanfiction. This was the same room where my brother had constructed a secret liquor cabinet from... Continue reading at Electric Literature
[ Electric Literature | 2022-11-01 11:05:00 UTC ]
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Biden administration receives a clear victory, with the judge ruling the blockbuster merger would diminish competition in book publishing. Continue reading at Los Angeles Times
[ Los Angeles Times | 2022-11-01 00:51:06 UTC ]
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Colleen Hoover has the #1 book in the country – and so much more – with 'It Starts with Us.' Plus new celeb memoirs include two by Harry Potter movie alums, and Jen Hatmaker and Phil Rosenthal each feed readers' need for new cookbooks. Continue reading at Publishers Weekly
[ Publishers Weekly | 2022-10-28 04:00:00 UTC ]
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Our annual celebration of the rising stars of book publishing features profiles of 36 honorees and five finalists. Continue reading at Publishers Weekly
[ Publishers Weekly | 2022-10-28 04:00:00 UTC ]
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In his memoir 'Beyond the Wand,' Tom Felton shares behind-the-scenes tales from the 'Harry Potter' franchise and chronicles his struggle with alcohol. Continue reading at Los Angeles Times
[ Los Angeles Times | 2022-10-18 20:19:47 UTC ]
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The actor, known for playing Hagrid in the Harry Potter franchise and Fitz in the series Cracker, has died aged 72. Continue reading at BBC News
[ BBC News | 2022-10-14 18:09:44 UTC ]
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Scottish actor Robbie Coltrane, who played a forensic psychologist on the TV series Cracker and Hagrid in the Harry Potter movies, has died. Continue reading at CBC
[ CBC | 2022-10-14 17:36:32 UTC ]
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