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 ]
Booksellers are hoping that the release of Harry Potter and the Cursed Child later this month will offset the negative impact economic uncertainty has had on footfall following the Brexit vote. Continue reading at The Bookseller
[ The Bookseller | 2016-07-08 00:00:00 UTC ]
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The editor of the London-based book trade BookBrunch, Neill Denny, offers his take on the implications of the historic vote that just wrapped in the U.K. Continue reading at Publishers Weekly
[ Publishers Weekly | 2016-06-24 00:00:00 UTC ]
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In the lives of many consumers, social networks have begun to replace traditional news outlets as their primary source of news, making it much more difficult for publishers who still rely on a more traditional business model to earn revenue from their stories. In its annual report on digital... Continue reading at Betanews
[ Betanews | 2016-06-16 00:00:00 UTC ]
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They were supposed to be a secret, but when word leaked that the new "Harry Potter and the Cursed Child" in London was using real owls during performances, fans of the saga went wild on social media. Alas, the owls have officially flown the coop before the blockbuster West End production... Continue reading at Los Angeles Times
[ Los Angeles Times | 2016-06-11 00:00:00 UTC ]
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Axel Springer has agreed to buy market researcher eMarketer at an enterprise value of about $250 million as the German publisher continues its push into digital businesses and English-speaking markets.The German media group is paying $242 million for 93% of the shares in eMarketer, taking the... Continue reading at Advertising Age
[ Advertising Age | 2016-06-10 00:00:00 UTC ]
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Theatre critics have responded enthusiastically to the first part of Harry Potter and the Cursed Child, which previewed at London’s Palace theatre last night (7th June). Continue reading at The Bookseller
[ The Bookseller | 2016-06-09 00:00:00 UTC ]
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Retailers are plotting a range of spellbinding evenings across the UK ahead of the release of JK Rowling’s "eighth Harry Potter book”, the play script for Harry Potter and the Cursed Child (Little, Brown). Continue reading at The Bookseller
[ The Bookseller | 2016-06-02 00:00:00 UTC ]
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It’s been 19 years since the events of “Harry Potter and the Deathly Hallows” and boy does it show. The first images of upcoming West End stage play “Harry Potter and the Cursed Child” written by English playwright Jack Thorne and based on a story from Thorne and “Potter” scribe J.K. Rowling,... Continue reading at Los Angeles Times
[ Los Angeles Times | 2016-05-31 00:00:00 UTC ]
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How might Web technology change the publishing industry? Ask the inventor of the World Wide Web. Continue reading at Publishers Weekly
[ Publishers Weekly | 2016-05-20 00:00:00 UTC ]
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Sales of JK Rowling’s much-loved books jump 133%, boosted by illustrated edition, contributing to 8% profit rise at publisherHarry Potter is still working his magic for the publisher Bloomsbury after nearly 20 years, with sales more than doubling over the past year thanks to a new illustrated... Continue reading at The Guardian
[ The Guardian | 2016-05-19 00:00:00 UTC ]
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The third annual report from BookNet Canada, released this week, found that 14% of Canadian publishers earned 30% of their revenue from ebooks in 2015, up from 8% the year before. Continue reading at Publishers Weekly
[ Publishers Weekly | 2016-05-19 00:00:00 UTC ]
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In a major expansion of the Facebook Audience Network, Facebook is now extending its capabilities by adding pre-roll, mid-roll and post-roll video ads for brands advertising on third-party publishers websites and apps. Third-party publishers such as USA Today Sports Media Group and Daily Mail... Continue reading at AdWeek
[ AdWeek | 2016-05-16 00:00:00 UTC ]
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The Big Green Bookshop is to donate all profits from the sales of Harry Potter and the Cursed Child (Little, Brown) to local schools to enable them to buy books for their libraries. Continue reading at The Bookseller
[ The Bookseller | 2016-05-13 00:00:00 UTC ]
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British surveillance agency GCHQ intervened with the launch of Harry Potter and the Half-Blood Prince, the sixth book in J K Rowling’s Harry Potter series. Continue reading at The Bookseller
[ The Bookseller | 2016-04-12 00:00:00 UTC ]
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A chair that author JK Rowling sat on while writing the first two Harry Potter books is sold at a New York auction for nearly $400,000 (£283,000). Continue reading at BBC News
[ BBC News | 2016-04-07 00:00:00 UTC ]
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The opening of the Wizarding World of Harry Potter at Universal Studios Hollywood on Thursday is likely to draw huge crowds, including adults who grew up reading the books by J.K. Rowling and teens who watched the eight movies that followed. If you plan to brave the Potterfest, here are some... Continue reading at Los Angeles Times
[ Los Angeles Times | 2016-04-07 00:00:00 UTC ]
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In hero-quest terms, the recovery of the Sorcerer's Stone was Harry Potter's first big win, even though he didn't get to keep it. By the time Harry woke up after his first battle with You Know Who, the stone, with all its life-extending and gold-producing properties, had, in fact, been destroyed.... Continue reading at Los Angeles Times
[ Los Angeles Times | 2016-04-05 00:00:00 UTC ]
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The Wizarding World of Harry Potter at Universal Studios Hollywood is about to debut. After 2 1/2 years of construction, Wizarding World is set for its grand opening Thursday morning. Leading up to that, a red carpet event tonight will include several stars from the "Harry Potter" films, and more... Continue reading at Los Angeles Times
[ Los Angeles Times | 2016-04-05 00:00:00 UTC ]
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The upcoming movie 'Fantastic Beasts and Where to Find Them,' based in the world of 'Harry Potter,' is set in America. Upcoming stories published on the site Pottermore will reveal more about the magical culture in the US. Continue reading at The Christian Science Monitor
[ The Christian Science Monitor | 2016-03-09 00:00:00 UTC ]
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The upcoming movie 'Fantastic Beasts and Where to Find Them,' based in the world of 'Harry Potter,' is set in America. Upcoming stories published on the site Pottermore will reveal more about the magical culture in the US. Continue reading at The Christian Science Monitor
[ The Christian Science Monitor | 2016-03-08 00:00:00 UTC ]
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