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 ]
Manga for readers 12 and under is still a small category in the U.S., so it’s big news that Scholastic will begin publishing manga under its Graphix imprint. Continue reading at Publishers Weekly
[ Publishers Weekly | 2024-04-26 04:00:00 UTC ]
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The books will be released sequentially, starting with Harry Potter and the Philosopher’s Stone, with a full cast of yet-to-be-named actors and a ‘groundbreaking new soundscape’New audiobooks of all seven titles in JK Rowling’s Harry Potter series will be released exclusively on Audible in late... Continue reading at The Guardian
[ The Guardian | 2024-04-25 16:37:29 UTC ]
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Peel Regional Police and the U.S. Alcohol, Tobacco and Firearms Bureau say they plan to announce arrests on Wednesday in the theft of roughly $20 million in gold and nearly $2 million US in cash from Toronto's Pearson International Airport. Continue reading at CBC
[ CBC | 2024-04-16 19:47:31 UTC ]
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Audio shared with the New York Times appears to record executives discussing purchase of the US books giant to feed into its large language modelsStaff at technology company Meta discussed buying publishing house Simon & Schuster last year in order to procure books to train the company’s... Continue reading at The Guardian
[ The Guardian | 2024-04-09 15:36:14 UTC ]
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Author’s comments on Monday relating to trans women were posted as new hate crime law came into force in ScotlandComments by JK Rowling that described prominent transgender women activists as “men” will not be recorded as a non-crime hate incident, Police Scotland has said.The Harry Potter... Continue reading at The Guardian
[ The Guardian | 2024-04-03 19:08:34 UTC ]
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Workers at Oxford University Press are threatening to strike, alleging the publishing house is moving jobs abroad and has stonewalled the union in salary negotiations. Continue reading at Publishers Weekly
[ Publishers Weekly | 2024-03-29 04:00:00 UTC ]
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Scholastic has acquired 100% of the economic interest in 9 Story Media Group, a Toronto-based creator, producer, and distributor of children’s content. Continue reading at Publishers Weekly
[ Publishers Weekly | 2024-03-12 04:00:00 UTC ]
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Next year, SenLinYu’s Harry Potter fic Manacled will disappear from Archive of Our Own. They don’t want to take it down, but it’s the only way to keep others from profiting off of the work. Continue reading at Wired
[ Wired | 2024-02-28 20:42:17 UTC ]
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'Publishers Weekly' and the Association of American Literary Agents will copresent the 2024 U.S. Book Show, a one-day in-person educational conference for agents, editors, marketers, and book publishing professionals, at NYU's Kimmel Center in New York City on May 22. Continue reading at Publishers Weekly
[ Publishers Weekly | 2024-02-22 05:00:00 UTC ]
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As reported earlier this week by Ramy Abdu, Chairman of Euro-Med Human Rights Monitor, the Israeli army has burned down the the publishing house and library of Al-Kalima in the Sheikh Radwan neighborhood in Gaza. Breaking: The Israeli army destroys and burns down the publishing house and library... Continue reading at Literrary Hub
[ Literrary Hub | 2024-02-21 18:41:05 UTC ]
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Fans who were girls in the era of Harry Potter, The Hunger Games and Twilight are now the women who have powered the success of Barbie and the Eras Tour. Continue reading at The Conversation
[ The Conversation | 2024-02-18 19:51:27 UTC ]
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From fan fiction about Disney cartoons having sex to raunchy shows from Hollywood stars, pornographic audio is podcasting’s hottest new trendHave you ever stood at the school gates, waiting to pick up your six-year-old, while secretly listening to fan fiction about Harry Potter and Draco Malfoy... Continue reading at The Guardian
[ The Guardian | 2024-02-12 16:32:24 UTC ]
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During his keynote presentation at the Indie Press Caucus meeting at Winter Institute 2024 in Cincinnati, Hanif Abdurraqib critiqued the consolidation of the big houses and emphasized the importance of indie presses in the book publishing ecosystem. Continue reading at Publishers Weekly
[ Publishers Weekly | 2024-02-12 05:00:00 UTC ]
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Penguin Random House strengthened its grip on the picture book lists and made gains on the frontlist fiction lists, which Scholastic still rules. Continue reading at Publishers Weekly
[ Publishers Weekly | 2024-02-02 05:00:00 UTC ]
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A Call of Duty game sells. That’s what it does. And it usually tops the sales charts, almost every year since 2009. However, last year was a bit different: Call of Duty: Modern Warfare III landed in second place. To convey the gravitational pull of CoD, when Microsoft was fighting to buy... Continue reading at Engadget
[ Engadget | 2024-01-19 12:15:26 UTC ]
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Just like death and taxes, you can usually rely on a Call of Duty game to top the sales charts each year. The various entries in Activision’s warfare simulation franchise have mostly done just that, going all the way back to 2009. This year’s a bit different. Call of Duty: Modern Warfare III has... Continue reading at Engadget
[ Engadget | 2024-01-18 19:16:41 UTC ]
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Scholastic has announced that an illustrated edition of THE HUNGER GAMES is coming out later this year. Here are the details. Continue reading at Book Riot
[ Book Riot | 2024-01-18 16:47:28 UTC ]
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The AAP StatShot report for October shows US book publishing revenues at US$10.6 billion in the first 10 months of 2023. The post AAP StatShot: US Industry Was Up 1.8 Percent in October appeared first on Publishing Perspectives. Continue reading at Publishing Perspectives
[ Publishing Perspectives | 2024-01-09 20:42:57 UTC ]
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Haji Glover returns as CFO to Scholastic, following a short stint with Amazon. Ken Cleary takes up Scholastic's international lead. The post Scholastic Names Haji Glover CFO; Ken Cleary Moves to International appeared first on Publishing Perspectives. Continue reading at Publishing Perspectives
[ Publishing Perspectives | 2024-01-08 19:00:03 UTC ]
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The newly launched lawsuit of OpenAI and Microsoft by The New York Times parallels legal actions from the book publishing industry. The post AI: Copyright Challenges Now Include a New York Times Lawsuit appeared first on Publishing Perspectives. Continue reading at Publishing Perspectives
[ Publishing Perspectives | 2024-01-04 19:59:05 UTC ]
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