Scholastic looks to sell SoHo HQ

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 ]

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Oxford University Press to end centuries of tradition by closing its printing arm

Falling sales blamed as 20 jobs axed in final chapter for history of printing in the city, which stretches back to the earliest days of book publishing Oxford University’s right to print books was first recognised in 1586, in a decree from the Star Chamber. But the centuries-old printing history... Continue reading at The Guardian

[ The Guardian | 2021-06-09 14:27:25 UTC ]
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Richard Robinson Dies at 84; Turned Scholastic Into an Empire

With help from Harry Potter, the Magic School Bus and the Baby-Sitters Club, he created the largest publisher and distributor of children’s books. Continue reading at The New York Times

[ The New York Times | 2021-06-08 11:45:51 UTC ]
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Scholastic Authors Pay Tribute to Dick Robinson

A number of Scholastic’s writers paid tribute to the Scholastic CEO, lauding his vision, his passion, and his unwavering support for children’s books and authors. Continue reading at Publishers Weekly

[ Publishers Weekly | 2021-06-08 04:00:00 UTC ]
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UK Book Publishing Industry Raises Copyright Alarm: ‘Save Our Books’

'The biggest threat to our industry post-Brexit,' says the Publishers Association, is an 'international copyright exhaustion framework.' The post UK Book Publishing Industry Raises Copyright Alarm: ‘Save Our Books’ appeared first on Publishing Perspectives. Continue reading at Publishing Perspectives

[ Publishing Perspectives | 2021-06-07 17:22:58 UTC ]
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Scholastic’s Richard Robinson, Dead at 84, a Leader in Children’s Books

Calling reading a 'civil right,' Richard Robinson joined Scholastic in 1964 and led the company for almost 50 years. The post Scholastic’s Richard Robinson, Dead at 84, a Leader in Children’s Books appeared first on Publishing Perspectives. Continue reading at Publishing Perspectives

[ Publishing Perspectives | 2021-06-07 02:51:41 UTC ]
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Richard Robinson, longtime Scholastic CEO, dead at 84

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[ ABC News | 2021-06-07 01:26:31 UTC ]
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Bloomsbury profits jump as ‘joy of reading rediscovered’ in lockdown

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[ The Guardian | 2021-06-02 08:20:05 UTC ]
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Oprah, Keanu Join U.S. Book Show Lineup

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[ Publishers Weekly | 2021-05-11 04:00:00 UTC ]
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Farshore signs deal for CoComelon's book publishing

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[ The Bookseller | 2021-05-11 03:24:35 UTC ]
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Germany’s Bookwire Announces an NFT Marketplace for Book Publishing

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[ Publishing Perspectives | 2021-05-06 19:51:29 UTC ]
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Rewriting history: why book publishing must embrace LGBTQ+ stories—and soon

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[ The Bookseller | 2021-04-30 21:47:40 UTC ]
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Bloomsbury to release illustrated Harry Potter gift book

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[ The Bookseller | 2021-04-28 20:34:58 UTC ]
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BISG Annual Meeting Examines Sustainability on a Number of Levels

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[ Publishers Weekly | 2021-04-27 04:00:00 UTC ]
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Helen McCrory, star of Peaky Blinders and Harry Potter, dies aged 52

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[ The Guardian | 2021-04-16 17:01:51 UTC ]
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New Grant Program Will Aid Indie Bookstores

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[ Publishers Weekly | 2021-03-30 04:00:00 UTC ]
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Captain Underpants author withdraws book over 'passive racism'

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[ The Guardian | 2021-03-29 12:33:28 UTC ]
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Federation of European Publishers’ New COVID-19 Impact Report: Europe Closes 2020 Down 2 to 5 Percent

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[ Publishing Perspectives | 2021-03-26 15:57:21 UTC ]
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Harry Potter publisher Bloomsbury issues another profit upgrade

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