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 ]
The new 'Harry Potter' covers, by artist and writer Kazu Kibuishi, were created to honor the 15th anniversary of the US publication of 'Harry Potter and the Sorcerer's Stone.' Continue reading at The Christian Science Monitor
[ The Christian Science Monitor | 2013-08-15 00:00:00 UTC ]
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'A Celebration of Harry Potter' is scheduled for this January. Will it include a look at the new portion of the 'Wizarding World' park? Continue reading at The Christian Science Monitor
[ The Christian Science Monitor | 2013-08-14 00:00:00 UTC ]
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Jeffrey Bezos buys the Washington Post for $250 million. The Amazon founder is known as a patient leader who is willing to absorb losses as he builds businesses.Amazon.com founder Jeffrey Bezos, who revolutionized the book business, is now aiming to do the same with one of the nation's most... Continue reading at Los Angeles Times
[ Los Angeles Times | 2013-08-06 00:00:00 UTC ]
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The birthday of Harry Potter falls on July 31 (which also happens to be the birthday of J.K Rowling). In the Potter universe, the days are usually eventful ones. Continue reading at The Christian Science Monitor
[ The Christian Science Monitor | 2013-08-01 00:00:00 UTC ]
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Google has added images of the Diagon Alley set from the 'Harry Potter' movies to its Street View function, allowing users to virtually walk through the magical shopping center. Continue reading at The Christian Science Monitor
[ The Christian Science Monitor | 2013-07-18 00:00:00 UTC ]
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Having a hard time finding something on the internet? You're probably doing it wrong -- at least that seems to be Microsoft's supposition. The company has recently revised its Bing autosuggest categories to help users find the correct search parameters for the content they're looking for. The... Continue reading at Engadget
[ Engadget | 2013-07-18 00:00:00 UTC ]
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News Corp.’s long-awaited split is official. Rupert Murdoch’s media behemoth Friday completed the separation of its entertainment from its news and information businesses into two publicly traded companies. The new News Corp (spelled with no period, differentiating it from the previous... Continue reading at AdWeek
[ AdWeek | 2013-06-29 00:00:00 UTC ]
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The future of book publishing is increasingly digital -- and increasingly tilted towards genre fiction. Continue reading at Wired
[ Wired | 2013-06-26 00:00:00 UTC ]
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When New Harbinger Publications cofounders Matthew McKay and Patrick Fanning were establishing their small press in 1973, it was Fanning’s monthly reading of Popular Mechanics magazine that served as a step-by-step guide to book publishing for the partners. Continue reading at Publishers Weekly
[ Publishers Weekly | 2013-05-25 00:00:00 UTC ]
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A rare first edition of Harry Potter and the Philosopher's Stone with annotations and drawings by JK Rowling sells for a record £150,000. Continue reading at BBC News
[ BBC News | 2013-05-22 00:00:00 UTC ]
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Harlequin parent company Torstar has announced restructuring in its book publishing and general... Continue reading at The Bookseller
[ The Bookseller | 2013-05-09 00:00:00 UTC ]
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Universal Studios in Hollywood will raze the 41-year-old Gibson Amphitheatre to make way for its coming Harry Potter attraction, the Wizarding World of Harry Potter. Universal Studios in Hollywood will raze the 41-year-old Gibson Amphitheatre to make way for its coming Harry Potter attraction,... Continue reading at Los Angeles Times
[ Los Angeles Times | 2013-04-25 00:00:00 UTC ]
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News Corp.'s publishing spinoff will be armed with $2.6 billion in cash and no debt, demonstrating Chairman Rupert Murdoch's passion for print even as the new company confronts an industry in decline.The cash pile could come in handy for acquisitions or just to shore up the publishing business,... Continue reading at Crains New York
[ Crains New York | 2013-03-08 00:00:00 UTC ]
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Kazu Kibuishi, writer and illustrator of the 'Amulet' graphic novel series, created seven new covers for paperback editions of the 'Harry Potter' novels, to be released on the 15th anniversary of the series. Continue reading at The Christian Science Monitor
[ The Christian Science Monitor | 2013-02-13 00:00:00 UTC ]
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'Harry Potter' cast members are reportedly filming a short movie that will be screened at the franchise's theme parks. What will the new film show? Continue reading at The Christian Science Monitor
[ The Christian Science Monitor | 2012-12-13 00:00:00 UTC ]
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In its annual report on the progress it has made in hitting various environmental goals, Hachette Book Group said today that it is ahead of pace in two key areas but behind in a third. HBG has already surpassed its target for reducing total greenhouse gas emissions as well as for the use of... Continue reading at Publishers Weekly
[ Publishers Weekly | 2012-12-12 00:00:00 UTC ]
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It used to be easy to give your loved ones books for the holidays. You went to a bookstore, browsed the shelves , and picked out something thoughtful: Jodi Picoult’s latest for your mom, Harry Potter for your niece, maybe a Bill O’Reilly rant for that uncle who never shuts up at Thanksgiving. ... Continue reading at Slate
[ Slate | 2012-11-29 00:00:00 UTC ]
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In the modern world of book publishing, should we all be preparing for a second career as an entrepreneur? Plenty of our colleagues are choosing that career path. Continue reading at Publishing Perspectives
[ Publishing Perspectives | 2012-11-27 00:00:00 UTC ]
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Social media aggregation site Storify debuted a major aesthetic refresh to its Web site on Tuesday morning, revamping the main homepage and tweaking the site's search tools to better surface the most relevant media among the items from Twitter, Facebook, Instagram and others that are published... Continue reading at AllThingsD
[ AllThingsD | 2012-11-20 00:00:00 UTC ]
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High-speed inkjet printing has been described as the biggest development in book publishing in the past 50 years. Continue reading at Publishers Weekly
[ Publishers Weekly | 2012-10-29 00:00:00 UTC ]
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