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 ]
Stars including Daniel Radcliffe, Stephen Fry, and Eddie Redmayne are recording videos of themselves reading the first Harry Potter book in the latest addition to Harry Potter at Home. Continue reading at The Bookseller
[ The Bookseller | 2020-05-05 15:10:11 UTC ]
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Did you grow up with the Boy Who Lived? You can re-read the series or you can check out these books like Harry Potter for adults. Continue reading at Book Riot
[ Book Riot | 2020-04-29 10:32:45 UTC ]
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The Booksellers Association has written to Chancellor Rishi Sunak asking for a series of measures to support booksellers during the Covid-19 crisis, including allowing retail spaces to be "furloughed" and help to keep the supply chain open. Continue reading at The Bookseller
[ The Bookseller | 2020-04-28 12:49:34 UTC ]
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Scholastic UK is to publish Windrush Child by Benjamin Zephaniah as part of its Voices series. Continue reading at The Bookseller
[ The Bookseller | 2020-04-28 09:03:54 UTC ]
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An awesome daily roundup of the most interesting bookish links from around the web! Continue reading at Book Riot
[ Book Riot | 2020-04-24 10:30:04 UTC ]
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The coronavirus pandemic has disrupted all aspects of book publishing, from putting pressure on sales channels to changing the kinds of books consumers want. A number of independent publishers have pivoted to meet the demand for books in newly-popular categories and formats. Continue reading at Publishers Weekly
[ Publishers Weekly | 2020-04-22 04:00:00 UTC ]
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Our relationships with characters from books and screen – called parasocial relationships – serve many of the same functions as our friendships with real people, minus the infection risks. Continue reading at The Conversation
[ The Conversation | 2020-04-21 03:11:35 UTC ]
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Trade associations and other organizations have stepped up to provide information and resources to help those in the book publishing industry navigate the crisis. Below is an overview of what a number of groups are doing. Continue reading at Publishers Weekly
[ Publishers Weekly | 2020-04-17 04:00:00 UTC ]
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Answer eleven questions about the Harry Potter books and the wizarding world to discover which of the Hogwarts Professors you are most like. Continue reading at Book Riot
[ Book Riot | 2020-04-16 10:34:27 UTC ]
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Scholastic UK has acquired three books in the Skunk and Badger series by author Amy Timberlake and illustrator Jon Klassen. Continue reading at The Bookseller
[ The Bookseller | 2020-04-15 09:03:03 UTC ]
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An updating list of online treats from bibliophiles including JK Rowling, Simon Armitage and Lynda La Plante to entertain locked-down children and adults • The best arts and entertainment during self-isolationGruffalo artist Axel Scheffler has put out a free new picture book explaining the... Continue reading at The Guardian
[ The Guardian | 2020-04-09 11:04:32 UTC ]
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Scholastic has cancelled the Laugh Out Loud Awards (known as the Lollies) for 2020, due to schools closing and the uncertainty surrounding the coronavirus crisis. Continue reading at The Bookseller
[ The Bookseller | 2020-04-08 22:49:38 UTC ]
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Scholastic has acquired Matt Carr's Now Wash Your Hands! while Nosy Crow has published a free information book explaining coronavirus to children, illustrated by Axel Scheffler. Continue reading at The Bookseller
[ The Bookseller | 2020-04-06 15:53:14 UTC ]
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Though Harry Potter might be one of the most easily recognizable books about magic schools, there are many books that go beyond Hogwarts. Find them here. Continue reading at Book Riot
[ Book Riot | 2020-04-02 10:36:55 UTC ]
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Wizarding World of Harry Potter introduces Harry Potter at Home, a new collection of free resources for readers and educators. Continue reading at Book Riot
[ Book Riot | 2020-04-01 17:06:24 UTC ]
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J K Rowling and her Wizarding World partners have announced three new initiatives under the banner Harry Potter At Home, to help children, parents, carers and teachers who are at home during the coronavirus outbreak. Continue reading at The Bookseller
[ The Bookseller | 2020-04-01 16:21:07 UTC ]
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The real world isn’t looking so great right now, so here’s another option: escape into the Harry Potter universe for a bit with Harry Potter at Home, a digital hub for kids. Hosted at WizardingWorld.com, Harry Potter at Home has craft videos, articles, games, and more ways to engage Harry Potter... Continue reading at Literrary Hub
[ Literrary Hub | 2020-04-01 15:30:29 UTC ]
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Harry Potter at Home aims to be a new hub for parents and teachers in need of content to keep kids learning and entertained. J. K. Rowling is supplying a welcome dose of magic during the COVID-19 pandemic with Harry Potter at Home.Read Full Story Continue reading at Fast Company
[ Fast Company | 2020-04-01 14:20:14 UTC ]
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Feeling a little copped up and bored? Good news: The Harry Potter Alliance is hosting a virtual con today through Saturday, April 4th! Continue reading at Book Riot
[ Book Riot | 2020-03-23 18:14:12 UTC ]
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Scholastic Corporation has said it expects business in the fourth quarter to be affected by coronavirus-related school closures and it is taking "agressive actions to reduce operating expenses throughout the Company" as a result, including the temporary closure of warehouse and distribution... Continue reading at The Bookseller
[ The Bookseller | 2020-03-19 15:51:43 UTC ]
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