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 Association of American Publishers has awarded the Belarusian-language house, publishing in effective exile from Poland, with its annual honor recognizing "courage and fortitude" in defense of the freedom of expression. Continue reading at Publishers Weekly
[ Publishers Weekly | 2024-09-27 04:00:00 UTC ]
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Helped by the acquisition of 9 Story Media, sales rose 4% at Scholastic in the quarter ended August 31, 2024, and the publisher cut its operating loss. Continue reading at Publishers Weekly
[ Publishers Weekly | 2024-09-27 04:00:00 UTC ]
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The main event of the global book publishing calendar is upon us, and this year’s professional program will feature a strong slate of panels and conversations about such issues as AI, the booming international audiobook market, and more. Continue reading at Publishers Weekly
[ Publishers Weekly | 2024-09-27 04:00:00 UTC ]
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Attention, bookworms and fellow travelers! Verso, the beloved left wing publishing house and hub for radical thought, is in big financial trouble. The company’s UK distributor, Marston Book Publishing, filed for bankruptcy this July—and left behind some unsettled debts. Verso explained how those... Continue reading at Literrary Hub
[ Literrary Hub | 2024-09-25 18:14:54 UTC ]
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The Sobesednik publishing house in Russia suspended production at all of its outlets for up to three months, including its popular newspaper, following a decision by authorities to place the company on the list of "foreign agents," Yelena Milchanovska, a Sobesednik... Continue reading at AdWeek
[ AdWeek | 2024-09-19 11:51:00 UTC ]
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"u ever smell the air and it smells like the fourth grade scholastic bookfair on a chilly tuesday in october of 2007." Continue reading at HuffPost
[ HuffPost | 2024-09-17 09:45:48 UTC ]
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Studio advertises for British and Irish children aged 9-11 to play Hogwarts heroes in ‘decade-long’ TV adaptationsHBO has kicked off its search for the next Harry Potter, Ron Weasley and Hermione Granger, with the studio posting an open casting call for its forthcoming TV adaptation.The casting... Continue reading at The Guardian
[ The Guardian | 2024-09-10 22:39:27 UTC ]
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The publishing house is booming thanks to sci-fi and fantasy novels – and a love of artisanal editions Founded in 1947, the Folio Society was once a membership club known for publishing classic tomes and history books, with a customer base of predominantly “old white men”, according to its... Continue reading at The Guardian
[ The Guardian | 2024-09-08 10:00:45 UTC ]
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“Wild Text Raging”: A Conversation with Threa Almontaser, by Renee H. Shea Interviews [email protected] Tue, 09/03/2024 - 14:05 Photo courtesy of the author / ThreaWrites.comThe Wild Fox of Yemen, by Threa Almontaser, received the Academy of... Continue reading at World Literature Today
[ World Literature Today | 2024-09-03 19:05:24 UTC ]
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The Englewood Review of Books (ERB), the online review publication started in 2008, has announced that it will restart its book publishing program, thanks in part to a grant from the Lily Endowment. “We wanted to think differently about how we are prepared to contribute to the larger work,” said... Continue reading at Publishers Weekly
[ Publishers Weekly | 2024-09-03 04:00:00 UTC ]
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It’s almost Labor Day so the sales have started to trickle in. Here’s a cool one. A whole bunch of Lego sets are on sale for 25 percent off from, uh, Barnes & Noble. That may not make sense on paper, but we assure you that these discounts are very real. It’s tough to pick the “best”... Continue reading at Engadget
[ Engadget | 2024-08-26 15:23:20 UTC ]
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A top editor and executive at two publishing houses, she was an advocate for other women in publishing, and for equal pay in an industry that had long been male-dominated. Continue reading at The New York Times
[ The New York Times | 2024-08-14 23:11:47 UTC ]
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When people type a question into Perplexity, the two-year-old search engine scours the internet and uses information from multiple sources, including online publishers, to synthesize an answer using AI. Soon, Perplexity will start sharing revenue with some publishers as part of an advertising... Continue reading at Engadget
[ Engadget | 2024-07-30 13:00:52 UTC ]
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MultiVersus, the platform fighter that pulls from Warner Bros. properties, could be getting a whole bunch of new stages and characters, according to a report by Kotaku. This includes content from the film Barbie and the Mad Max universe, in addition to more Adventure Land stuff and a potential... Continue reading at Engadget
[ Engadget | 2024-07-24 16:22:51 UTC ]
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I reviewed Lev Grossman’s The Magicians when it was launched in 2009, with amazing timing: Harry Potter and the Deathly Hallows, the final book, was out in paperback, and Harry Potter and the Half-Blood Prince was at last onscreen. Fans were bemoaning the coming Harry Potter vacuum. Grossman, at... Continue reading at Literrary Hub
[ Literrary Hub | 2024-07-23 08:55:43 UTC ]
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Stocks that traded heavily or had substantial price changes on Friday: CrowdStrike, Scholastic fall, Intuitive Surgical, SLB rise Continue reading at ABC News
[ ABC News | 2024-07-19 20:21:50 UTC ]
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Imagine following Harry Potter’s adventures while the gothic library of Hogwarts glows in the background. Apple’s latest VR headset suggests that future may be near. Continue reading at Publishers Weekly
[ Publishers Weekly | 2024-07-19 04:00:00 UTC ]
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The 'Frankfurt Kids' program on October 16 will feature issues in children's book publishing, social responsibility and accessibility. The post ‘Frankfurt Kids’: A Children’s Book Conference at the Buchmesse appeared first on Publishing Perspectives. Continue reading at Publishing Perspectives
[ Publishing Perspectives | 2024-07-10 21:50:05 UTC ]
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The Oklahoma-based arts-and-crafts retailer known for its ownership's conservative political leanings is coming soon to Manhattan.Hobby Lobby, which opened its first chain in the city on Staten Island in March, has now signed one of the largest leases in Manhattan so far this year, inking a deal... Continue reading at Crains New York
[ Crains New York | 2024-07-09 09:48:05 UTC ]
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Launching Books into the World: A Conversation with Carolina Orloff, by Aitana Bellido Interviews [email protected] Mon, 07/01/2024 - 15:54 Carolina Orloff is a translator, author, and researcher of Latin American literature. In 2016, after... Continue reading at World Literature Today
[ World Literature Today | 2024-07-01 20:54:02 UTC ]
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