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 ]
Welcome to Ad Age’s NewFronts 2022 newsletter. We’ll be sharing a daily roundup of events, interviews and sessions from IAB. You can sign up here to get updates delivered to your inbox.Amy Poehler’s Twitch tutorial Comedian Amy Poehler helped Amazon’s pitch to media buyers on Monday, at the... Continue reading at Advertising Age
[ Advertising Age | 2022-05-03 23:15:06 UTC ]
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The ‘fascinating insight into what was to become an iconic work’ is the only known surviving copy of its kind and is to be auctioned along with a first edition signed by RowlingA prepublication version of the first Harry Potter book by JK Rowling is expected to fetch at least £20,000 when it is... Continue reading at The Guardian
[ The Guardian | 2022-04-26 09:29:11 UTC ]
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A new, fundraising opportunity for Ukraine's book publishing industry has been coordinated by Frankfurt and its sister organizations. The post Frankfurter Buchmesse: Appeal for Ukraine’s Book Industry appeared first on Publishing Perspectives. Continue reading at Publishing Perspectives
[ Publishing Perspectives | 2022-04-25 15:13:34 UTC ]
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The failure of progressive change in contemporary book publishing is so total that there is now a whole string of books about the failure of progressive change in contemporary book publishing, often backed enthusiastically by big corporate publishers, in an elaborate circuit of denial and... Continue reading at Literrary Hub
[ Literrary Hub | 2022-04-20 08:55:05 UTC ]
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Viewers have long complained about the early HBO Max app’s tendency to crash, and its lack of discoverability features. There have been a number of overhauls and fixes since then. Now we know why. Turns out that HBO Max launched its apps before they were ready in order to keep up with its... Continue reading at Engadget
[ Engadget | 2022-04-14 23:32:58 UTC ]
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Read on for news about DK's 'The Very Hungry Caterpillar' encyclopedia, Random House's picture book with Ellen DeGeneres, new Harry Potter publishing from Insight Editions, lucha libre books from Future House and Masked Republic, a Spawn trade publishing program, and more. Continue reading at Publishers Weekly
[ Publishers Weekly | 2022-04-07 04:00:00 UTC ]
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Revenue at Scholastic rose 24% for the third quarter ended February 28, 2022, over the prior year period, and the company cut the quarterly operating loss. While sales trends remain favorable, the company said that it is working on ways to control higher prices for paper, printing, and freight,... Continue reading at Publishers Weekly
[ Publishers Weekly | 2022-03-18 04:00:00 UTC ]
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Hogwarts Legacy will arrive on PC, PlayStation 4, PS5, Xbox One and Xbox Series consoles in holiday 2022. Hogwarts Legacy was announced in late 2020 and it was originally due to come out in 2021, but was later delayed to 2022. The "holiday" timeframe is one step closer to an actual release... Continue reading at Engadget
[ Engadget | 2022-03-17 21:18:58 UTC ]
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ABC, home of freshman comedy 'Abbott Elementary,' has partnered with Scholastic to host free book fairs at seven Title 1 schools between March 14-18. Continue reading at Los Angeles Times
[ Los Angeles Times | 2022-03-11 21:00:48 UTC ]
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With help from machine learning software, computer scientists may have unmasked the identity of Q, the founder of the QAnon movement. In a sprawling report published on Saturday, The New York Times shared the findings of two independent teams of forensic linguists who claim they’ve identified... Continue reading at Engadget
[ Engadget | 2022-02-19 20:56:18 UTC ]
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Midwest publishers are optimistic sales gains in 2021 will carry into 2022 despite supply chain issues. Continue reading at Publishers Weekly
[ Publishers Weekly | 2022-02-11 05:00:00 UTC ]
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Vera, a cello player and Scrabble devotee, has been a New York Times subscriber for the past 75 years, developing her print habit somewhere around the Truman administration. These days, she's reading stories about Eugene O'Neill, TV dinners, book publishing and "getting older without getting... Continue reading at AdWeek
[ AdWeek | 2022-02-07 11:00:00 UTC ]
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Containers full of books at the bottom of the ocean are just one problem for an industry facing a host of shortagesThe supply chain crisis over the last year has caused quite a splash for the book publishing industry – literally.In early January, a large shipping vessel coming from Taiwan was... Continue reading at The Guardian
[ The Guardian | 2022-02-07 07:00:04 UTC ]
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A narrator can make or break the listening experience. Over several related novels, they can become friend (or foe). Continue reading at The Washington Post
[ The Washington Post | 2022-01-16 13:00:49 UTC ]
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Kaepernick will talk with librarians about his first children’s book, illustrated by Eric Wilkerson, 'I Color Myself Different,' which is scheduled for an April, 2022 publication from Scholastic Press and Kaepernick Publishing. Continue reading at Publishers Weekly
[ Publishers Weekly | 2022-01-14 05:00:00 UTC ]
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Scholastic’s Kate Newport is joining Hachette Children’s Group in the newly created role of publisher for non-fiction. Continue reading at The Bookseller
[ The Bookseller | 2022-01-09 18:55:54 UTC ]
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Filippo Bernardini is accused of stealing manuscripts. For money or just a good read?The theft of books occupies a complex place in our moral judgment, depending on motive. In Markus Zusak’s 2005 novel The Book Thief, the actions of the title character are heroic – she steals books to save them... Continue reading at The Guardian
[ The Guardian | 2022-01-09 09:30:16 UTC ]
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Scholastic has landed a new Tom Gates book by Liz Pichon which aims to get everyone drawing in the UK as part of a national campaign. Continue reading at The Bookseller
[ The Bookseller | 2021-12-13 08:19:08 UTC ]
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Scholastic UK has announced a global publishing deal with 9 Story Media Group and Karma’s World Entertainment for a new Netflix series. Continue reading at The Bookseller
[ The Bookseller | 2021-12-13 02:29:44 UTC ]
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It was a chance to finally get around to Tolstoy or Proust, but the charts tell a different story. Which books did we actually turn to in the lockdowns? • Let us know in the comments what you were reading Back in spring 2020, when it became clear that coronavirus wasn’t going away, book lovers... Continue reading at The Guardian
[ The Guardian | 2021-12-11 09:00:06 UTC ]
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