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 ]
With the levelling off of e-book sales, many have begun to wonder whether the book publishing industry will be spared the kinds of disruption experienced by other sectors of the media industries. But the digital transformation of the book publishing industry was never fundamentally about e-books... Continue reading at The Bookseller
[ The Bookseller | 2021-03-13 06:41:09 UTC ]
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It's easy to be nostalgic about Scholastic Book Fairs, but for poor kids and underfunded communities, school book fairs look very different. Continue reading at Book Riot
[ Book Riot | 2021-03-12 11:31:00 UTC ]
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WandaVision and Harry Potter ended in underwhelming beam-o-wars. This Disney classic offers a solution. Continue reading at Slate
[ Slate | 2021-03-08 20:35:26 UTC ]
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Bring great-great-great grandma back to life using deep learning. If you’ve ever seen a Harry Potter movie and were enchanted by those movie photos seen in the world’s newspapers and on mantles, you’re going to want to give a new tool called Deep Nostalgia from genealogy site MyHeritage a... Continue reading at Fast Company
[ Fast Company | 2021-03-05 06:24:58 UTC ]
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Scholastic UK has acquired UK and Commonwealth rights to Kacen Callender's Hurricane Child, with publication slated for June 2021. Continue reading at The Bookseller
[ The Bookseller | 2021-02-16 07:44:38 UTC ]
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Nicole Rycroft's track record when it comes to protecting forests and fighting climate change includes a successful campaign to green all the copies of the last book in the Harry Potter series. Continue reading at CBC
[ CBC | 2021-02-04 02:30:09 UTC ]
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Scholastic imprint Alison Green Books has snared The Baddies, a new book from Julia Donaldson and Axel Scheffler starring their “boldest, meanest and silliest villains” ever. Continue reading at The Bookseller
[ The Bookseller | 2021-01-28 22:31:02 UTC ]
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As a struggling literary agent in London, he took a chance on J.K. Rowling and Harry Potter, turning her books into the most lucrative literary franchise in history. Continue reading at The New York Times
[ The New York Times | 2021-01-27 22:39:44 UTC ]
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Welcome to Ad Age’s Wake-Up Call, our daily roundup of advertising, marketing, media and digital news. If you're reading this online or in a forwarded email, here's the link to sign up for our Wake-Up Call newsletters. 'Party in the U.S.A. ' Good morning! Remember last week when we reported... Continue reading at Advertising Age
[ Advertising Age | 2021-01-26 11:00:00 UTC ]
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News of a Harry Potter show in early development at HBO Max begs the question: what can justify another extension to an already stretched universe?When I saw the news, reported by the Hollywood Reporter, that HBO Max was in talks to develop live-action Harry Potter television series, all details... Continue reading at The Guardian
[ The Guardian | 2021-01-25 21:19:03 UTC ]
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The Hollywood Reporter announced this morning that a new Harry Potter series is in early development at HBO Max. Though HBO Max and Warner Bros. said in a statement that “there are no Harry Potter series in development at the studio or on the streaming platform,” multiple sources have confirmed... Continue reading at Literrary Hub
[ Literrary Hub | 2021-01-25 18:25:26 UTC ]
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The bookseller has hired Emily Meehan as publisher and chief creative officer of Sterling Publishing in what it called part of a relaunch of its publishing division. Continue reading at Publishers Weekly
[ Publishers Weekly | 2021-01-15 05:00:00 UTC ]
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"I’m a very optimistic person. Without optimism and hope, I wouldn’t be able to do the things I do,” says Stuart Lawrence, the author of the uplifting and motivating Silence is Not an Option: You Can Impact the World for Change, which will be published by Scholastic in April. Continue reading at The Bookseller
[ The Bookseller | 2021-01-14 23:20:06 UTC ]
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Budding wizards and witches will have to wait a while longer to delve into Hogwarts Legacy. The open-world Harry Potter RPG, which was supposed to arrive this year, has been delayed to 2022. pic.twitter.com/9zqii6DZLm— Hogwarts Legacy (@HogwartsLeg... Continue reading at Engadget
[ Engadget | 2021-01-13 17:44:36 UTC ]
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Pottermore, the digital company for J K Rowling’s Wizarding World, saw revenues rise 3.2% and profits increase 23.2% in the 12 months to 31st March 2020. Continue reading at The Bookseller
[ The Bookseller | 2021-01-13 12:26:57 UTC ]
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Scholastic UK has acquired Escape the Rooms, the "dazzling" children’s book debut from actor Stephen Mangan, illustrated by his sister Anita Mangan. Continue reading at The Bookseller
[ The Bookseller | 2021-01-13 03:30:19 UTC ]
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My brother David Larkin, who has died aged 84, was an art director in the book publishing industry who consistently pushed artists to go beyond their known capabilities – and often saw things in them that they did not themselves perceive.In the late 1960s, as art director at Granada Publishing,... Continue reading at The Guardian
[ The Guardian | 2021-01-03 15:48:19 UTC ]
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We used to love these books, but he told me he doesn't want me to support J.K. Rowling now in any way. Continue reading at Slate
[ Slate | 2020-12-22 11:00:00 UTC ]
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Revenue at Scholastic's book fairs dropped 79% and total revenue at Scholastic dropped 32% in the quarter ended November 31, 2020, compared to the second quarter of fiscal 2020, as the pandemic led to a significant decline in the number of fairs held. The publisher has tapped two new leaders for... Continue reading at Publishers Weekly
[ Publishers Weekly | 2020-12-18 05:00:00 UTC ]
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Scholastic saw revenues plunge 32% year on year to $406.2m and operating income fall 54% in the second quarter, as its business continued to be hit by the pandemic, although trade sales rose. Continue reading at The Bookseller
[ The Bookseller | 2020-12-17 18:36:39 UTC ]
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