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 ]
From early comedy in Tutti Frutti to damaged psychologist Fitz, via Hagrid, Falstaff, Blackadder and finally National Treasure’s complex, hard-to-hate lead, Coltrane – who has died aged 72 – was a one-off“You’re a wizard, Harry!”For an entire generation all over the world, this was the key... Continue reading at The Guardian
[ The Guardian | 2022-10-14 17:08:39 UTC ]
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“Sorry to interrupt, what does TK mean?” I hear a puzzled voice ask the presenter of the video call I’m in. Having spent the past decade working in book publishing I almost unmute myself to shout out the answer, but as I’m brand new to the company I wait for the presenter to politely reply. […] Continue reading at Literrary Hub
[ Literrary Hub | 2022-09-29 08:54:20 UTC ]
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Three graduates of the Denver Publishing Institute described their journey in landing jobs in book publishing. Continue reading at Publishers Weekly
[ Publishers Weekly | 2022-09-29 04:00:00 UTC ]
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Young, a former v-p and executive editor at Grand Central, says the new standalone imprint will integrate philanthropy into the book publishing business. Continue reading at Publishers Weekly
[ Publishers Weekly | 2022-09-28 04:00:00 UTC ]
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Higher costs increased Scholastic's first quarter loss to $58.1 million, from $32 million in the first quarter of fiscal 2022, despite a 1.2% increase in sales. The results were "on plan," the publisher said, adding that it still expects sales and earnings in fiscal 2023 to rise over fiscal 2022. Continue reading at Publishers Weekly
[ Publishers Weekly | 2022-09-22 04:00:00 UTC ]
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I wasn’t sure Marvel could shoehorn its characters and stories anywhere else, beyond all the movies, TV shows, games and toys, but now it wants you thinking about those heroes wherever you go. It’s teamed up with Pokémon Go developer Niantic to create an augmented reality mobile game launching... Continue reading at Engadget
[ Engadget | 2022-09-12 11:15:39 UTC ]
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Scholastic has acquired Learning Ovations, the creator of A2i (Assessment to Instruction)—a literacy screening, progress monitoring and assessment, and instructional planning system for classrooms and community organizations. Continue reading at Publishers Weekly
[ Publishers Weekly | 2022-09-06 04:00:00 UTC ]
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Over the past two weeks, writers and publishing professionals have been riveted by coverage of the trial in which the U.S. Department of Justice is attempting to block Penguin Random House’s purchase of Big Five rival Simon & Schuster. As a member of the independent book publishing... Continue reading at Literrary Hub
[ Literrary Hub | 2022-08-18 08:54:18 UTC ]
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PlayStation’s game-streaming scheme, at its top tier, is now competing directly with Xbox Game Pass, the service that proved the concept by earning 25 million-plus subscribers over the past five years. It’s now been over a month since PlayStation Plus Premium went live, offering similar cloud... Continue reading at Engadget
[ Engadget | 2022-08-15 11:15:56 UTC ]
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Three of the sport’s governing bodies recently announced that they’re officially changing the name to “quadball,” both out of trademark concerns and a desire to distance themselves from Harry Potter author J.K. Rowling in light of her... Continue reading at CBC
[ CBC | 2022-08-13 08:00:00 UTC ]
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Try as it might, Hogwarts Legacy developer Avalanche Software can't magically make its creation arrive any sooner. In fact, Warner Bros. Interactive Entertainment has once again delayed the game, which at least now has a firm release date. It will hit PC, PlayStation 4, PS5, Xbox One and Xbox... Continue reading at Engadget
[ Engadget | 2022-08-12 18:52:47 UTC ]
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The crossover between tabletop gaming, comics, and book publishing is intensifying. Continue reading at Publishers Weekly
[ Publishers Weekly | 2022-08-12 04:00:00 UTC ]
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The Justice Department’s legal effort to block the merger of book publishing giants Penguin Random House and Simon & Schuster is more than just a showcase for the Biden administration’s tougher approach to corporate consolidation Continue reading at ABC News
[ ABC News | 2022-08-06 14:26:56 UTC ]
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Fifteen years ago, we reported on the publication of the final installment in J.K. Rowling’s megaselling Harry Potter series, which sold 8.3 million copies in the first day after its release. Continue reading at Publishers Weekly
[ Publishers Weekly | 2022-07-29 04:00:00 UTC ]
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Quidditch, a sport invented by Harry Potter author J.K. Rowling, is rebranding as “quadball” amid controversy over the author’s comments. Continue reading at The Washington Post
[ The Washington Post | 2022-07-20 13:42:04 UTC ]
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Too much work, too little money, and career decisions made in response to health care precarity: this is the reality of people with disabilities in book publishing. Continue reading at Publishers Weekly
[ Publishers Weekly | 2022-07-08 04:00:00 UTC ]
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People who turned to books during Covid lockdowns continuing to buy them, company saysBloomsbury has reported a record year for sales, as the Harry Potter publisher said the increase in reading during the pandemic had become “permanent” after lockdowns eased.The company benefited substantially... Continue reading at The Guardian
[ The Guardian | 2022-06-15 08:09:40 UTC ]
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Book publishing startup Parea is using the DTC playbook to connect new authors to communities who will engage with their work. Every year, publishers release thousands of new titles, but the vast majority don’t turn a profit. M0st authors spend years working on a book, only to see it languish,... Continue reading at Fast Company
[ Fast Company | 2022-06-14 09:00:06 UTC ]
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Study is a vital part of any scholastic journey. But not all methods are the same. Some, indeed, are far more effective than others. Want to put yourself in a better position to excel? Then the 2022 Perfect Score Academic Success Master Class Bundle is a must-buy, especially as it’s on sale... Continue reading at PC World
[ PC World | 2022-06-01 23:38:22 UTC ]
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Elizabeth Whiting has been promoted to v-p of trade sales at Scholastic Trade Publishing, effective June 1, succeeding Alan Smagler, who will transition to a consulting role. Continue reading at Publishers Weekly
[ Publishers Weekly | 2022-05-24 04:00:00 UTC ]
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