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 ]
Actor reportedly in final negotiations to follow up performance in Oscar-nominated hit Conclave with key role in much-anticipated HBO seriesJohn Lithgow is nearing a deal to star as Professor Albus Dumbledore in HBO’s hotly anticipated Harry Potter series, sources told Deadline and Variety.HBO... Continue reading at The Guardian
[ The Guardian | 2025-02-12 22:21:35 UTC ]
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South by Southwest, the long-running media and music conference in Austin, Tex., is launching a book imprint, SXSW Books, focusing on works by experts and innovators across creative industries. Continue reading at Publishers Weekly
[ Publishers Weekly | 2025-02-04 05:00:00 UTC ]
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Russian President Vladimir Putin has made Ukraine’s book publishing industry a target of the war. But the industry and Ukrainian readers are keeping books alive as a source of Ukraine’s resilient culture, and of solace and distraction. Continue reading at The Christian Science Monitor
[ The Christian Science Monitor | 2025-01-23 20:59:20 UTC ]
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The free expression–averse, tariff-happy president is in the White House once more. This time, the book business knows what to expect—mostly. Continue reading at Publishers Weekly
[ Publishers Weekly | 2025-01-17 05:00:00 UTC ]
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Online literary journal 'Joyland' has relaunched as Joyland Publishing, an independent nonprofit publisher of fiction. Under the new umbrella are a reimagined 'Joyland' magazine and Joyland Editions, a small press that will put out two novellas a year. Continue reading at Publishers Weekly
[ Publishers Weekly | 2025-01-14 05:00:00 UTC ]
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When I was 23, my best friend from college invited me to a networking mixer at the headquarters of a top publishing house in New York City. I was in graduate school at The New School at the time, and already working on the manuscript of what would become my first book, Born to Be […] The post... Continue reading at Electric Literature
[ Electric Literature | 2025-01-07 12:10:00 UTC ]
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The retired CEO of Abrams Books has teamed with author and editor Sheridan Hay to form Filmore Projects, which will offer consulting, literary, and marketing advice for writers, publishers, and creative arts organizations and will also include a book publishing and packaging imprint, Galpón Press. Continue reading at Publishers Weekly
[ Publishers Weekly | 2025-01-07 05:00:00 UTC ]
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Since 1985, literary agent Richard Curtis has irregularly chronicled the state of trade book publishing in verse in the pages of 'Publishers Weekly.' In honor of his final year-end poem, we've republished them all here. Continue reading at Publishers Weekly
[ Publishers Weekly | 2024-12-20 05:00:00 UTC ]
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Lower sales in the company's trade group, due mainly to the timing of the publication of some of its biggest books, was the major factor in dropping second quarter results. For the full fiscal year, Scholastic still expects revenue to increase between 4% and 6% over fiscal 2024. Continue reading at Publishers Weekly
[ Publishers Weekly | 2024-12-20 05:00:00 UTC ]
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Scholastic flexes its international reach in the five-nation release of Dav Pilkey's 13th 'Dog Man' series book. The post Scholastic Makes a Five-Nation Dav Pilkey ‘Dog Man’ Release appeared first on Publishing Perspectives. Continue reading at Publishing Perspectives
[ Publishing Perspectives | 2024-12-04 01:28:19 UTC ]
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Artificial intelligence is pushing the publishing world toward volume. That could drown out the good work. AI has the power to pump out words in record speed. And already, that’s substantially inflating the book publishing market. Continue reading at Fast Company
[ Fast Company | 2024-12-02 09:00:00 UTC ]
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The film distributor, production company, and streaming service, will launch a publishing arm, Mubi Editions, next April, focusing on titles on cinema and the arts. Continue reading at Publishers Weekly
[ Publishers Weekly | 2024-12-02 05:00:00 UTC ]
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Donald Trump is coming back to the White House, but don't expect another “Fire and Fury,” or much fire and fury in book publishing in general Continue reading at ABC News
[ ABC News | 2024-11-26 14:46:31 UTC ]
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Harry Potter fans anticipating the third attraction based on the popular book and movie franchise at Universal Orlando Resort learned that the fictional setting for the ride will be the British Ministry of Magic Continue reading at ABC News
[ ABC News | 2024-11-19 19:10:32 UTC ]
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We’re big Lego fans here at Engadget, so it’s not difficult for us to understand why the building block sets are some of the first items to sell out during the holiday shopping season. Kids and adults alike seek out Lego sets all year round, and they make particularly good gifts. Whether you... Continue reading at Engadget
[ Engadget | 2024-11-14 15:00:13 UTC ]
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2024 has been a rough year for Sonos. The company’s would-be triumphant entry into the crowded headphones market was overshadowed by a disastrous app redesign. In the fallout of the botched software update, the company decided to delay products that were ready to be shipped to give itself more... Continue reading at Engadget
[ Engadget | 2024-11-11 13:00:11 UTC ]
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One of fantasy and sci-fi’s all-time greats has passed away. Artist Greg Hildebrandt, known for his iconic work on Star Wars, Lord of the Rings, Marvel and Magic: The Gathering, died on Thursday at 85. He and his twin brother Tim, who died in 2006, were a powerhouse duo — the Brothers... Continue reading at Engadget
[ Engadget | 2024-11-01 19:30:27 UTC ]
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The United States' book publishing trade in August was up 13.4 percent year over year, and was up 8.1 percent year-to-date. The post AAP StatShot: US Publishing Industry Up 8.5 Percent in August appeared first on Publishing Perspectives. Continue reading at Publishing Perspectives
[ Publishing Perspectives | 2024-10-29 15:02:49 UTC ]
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