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 ]
In an interview conducted by 'Potter' actress Emma Watson, Rowling said she's wondered whether she should have paired two of the characters, Ron and Hermione, romantically. Continue reading at The Christian Science Monitor
[ The Christian Science Monitor | 2014-02-04 00:00:00 UTC ]
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The new section of the Wizarding World of Harry Potter theme park at Universal Studios is expected to represent the Diagon Alley shopping area frequented by the wizarding world in the books. Continue reading at The Christian Science Monitor
[ The Christian Science Monitor | 2014-01-29 00:00:00 UTC ]
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The new section of the Wizarding World of Harry Potter theme park at Universal Studios is expected to represent the Diagon Alley shopping area frequented by the wizarding world in the books. Continue reading at The Christian Science Monitor
[ The Christian Science Monitor | 2014-01-29 00:00:00 UTC ]
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For the first time the Zee Jaipur Literary Festival (JLF) has introduced a professional program to discuss the ongoing challenges to book publishing in India. Continue reading at Publishing Perspectives
[ Publishing Perspectives | 2014-01-16 00:00:00 UTC ]
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The release of the latest Hunger Games film, backlist titles such as Harry Potter and success... Continue reading at The Bookseller
[ The Bookseller | 2013-12-19 00:00:00 UTC ]
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At the New York Times' Drafts blog, comedian Steve Macone offered a helpful, humorous glossary of terms for the modern book business. Continue reading at Publishing Perspectives
[ Publishing Perspectives | 2013-11-27 00:00:00 UTC ]
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The group Improv Everywhere sent an 11-year-old dressed as Harry Potter to Penn Station to ask commuters and workers where he could find Platform 9 3/4. Continue reading at The Christian Science Monitor
[ The Christian Science Monitor | 2013-11-27 00:00:00 UTC ]
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Harry Potter and the Philosopher's Stone is named the 'nation's favourite' children's book in a vote by reading charity Booktrust. Continue reading at BBC News
[ BBC News | 2013-11-25 00:00:00 UTC ]
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A recipe for butterbeer, a beverage beloved by 'Harry Potter' characters,' is making the rounds and fans say you can order one at Starbucks locations. Continue reading at The Christian Science Monitor
[ The Christian Science Monitor | 2013-11-13 00:00:00 UTC ]
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Cambridge University Press has released its annual report for fiscal 2013, reporting its 11th straight year of sales growth, with digital development leading the way. Continue reading at Publishers Weekly
[ Publishers Weekly | 2013-11-11 00:00:00 UTC ]
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Format has been a long-simmering topic of debate in book publishing, and the question of when, and if, a title is published in hardcover, paperback, and/or digital has become even more pressing as bricks-and-mortar bookstores dwindle and ebook sales grow. Continue reading at Publishers Weekly
[ Publishers Weekly | 2013-10-27 00:00:00 UTC ]
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Total revenue at Amazon increased 24%, to $17.09 billion, in the third quarter of 2013 while its operating loss was $25 million, down from $28 million in the third quarter of 2012. Continue reading at Publishers Weekly
[ Publishers Weekly | 2013-10-24 00:00:00 UTC ]
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While digital distribution has roiled the newspaper, book publishing and music industries, a different story may be playing out in the world of comic books. Continue reading at Knowledge@Wharton
[ Knowledge@Wharton | 2013-10-10 00:00:00 UTC ]
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Gains in its educational technology group were not enough to offset declines in the children’s book publishing and distribution unit resulting in a 5.8% decline in total sales at Scholastic for the first quarter ended August 31. Continue reading at Publishers Weekly
[ Publishers Weekly | 2013-09-19 00:00:00 UTC ]
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Rowling wrote her book, "Harry Potter and the Philosopher's Stone," when she was a single mother, receiving government benefits. She's now asking the government to step up support for Britain's poor.Without help from the British government, there might never have been a Harry Potter. Continue reading at Los Angeles Times
[ Los Angeles Times | 2013-09-18 00:00:00 UTC ]
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J.K. Rowling will write a screenplay for Warner Bros. inspired by her book "Fantastic Beasts and Where to Find Them."Warner Bros. is hoping "Harry Potter" author J.K. Rowling has another magic trick up her sleeve. Continue reading at Los Angeles Times
[ Los Angeles Times | 2013-09-13 00:00:00 UTC ]
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When the U.K. newspaper the Sunday Times outed J.K. Rowling as the author of detective novel The Cuckoo's Calling earlier this year, computer scientists were among the first people called in. Although the novel was published under the pen name Robert Galbraith, two computational... Continue reading at Fast Company
[ Fast Company | 2013-09-03 00:00:00 UTC ]
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In a video on 'Good Morning America' celebrating the 15th anniversary of the release of the 'Harry Potter' books in the US, Rowling singles out Dumbledore as the 'Potter' character she misses the most. Continue reading at The Christian Science Monitor
[ The Christian Science Monitor | 2013-08-29 00:00:00 UTC ]
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Debut author Samantha Shannon has received plenty of pre-release buzz for her novel 'The Bone Season,' which comes out today. Continue reading at The Christian Science Monitor
[ The Christian Science Monitor | 2013-08-21 00:00:00 UTC ]
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A new book by a University of Vermont professor found that 'Harry Potter' fans have similar views on political topics – with a large majority in opposition to the George W. Bush administration. Continue reading at The Christian Science Monitor
[ The Christian Science Monitor | 2013-08-17 00:00:00 UTC ]
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