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 book business in 2023 in a nutshell: Amazon got hit with a federal antitrust lawsuit, Scholastic got mired in a censorship controversy, Simon & Schuster finally found a buyer, AI fever gripped the book business, and publishers stepped up to book bans. Continue reading at Publishers Weekly
[ Publishers Weekly | 2023-12-29 05:00:00 UTC ]
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Investors seemed unimpressed but analysts say even talk of a merger reflects moves to consolidate in a tough market Barbie and Tom Cruise’s Top Gun are planning on getting hitched. Warner Bros Discovery, the Hollywood studio that brought us the Batman, Harry Potter and Barbie films, and... Continue reading at The Guardian
[ The Guardian | 2023-12-21 17:19:19 UTC ]
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In one of Electric Lit’s most-read essays of the year, “Black Women Are Being Erased From Book Publishing,” Jennifer Baker examines the publishing industry in the wake of the Black Lives Matter movement in 2020. She holds the publishing industry accountable for appointing high-profile Black... Continue reading at Electric Literature
[ Electric Literature | 2023-12-21 12:15:00 UTC ]
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Stocks that traded heavily or had substantial price changes on Friday: Lennar, Scholastic fall; Costco, Steel Dynamics Continue reading at ABC News
[ ABC News | 2023-12-15 21:17:56 UTC ]
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CEO Peter Warwick attributed lower than expected second quarter results to a “complex” school environment characterized by “growing polarization in U.S. society and politicized schools and school boards.” Continue reading at Publishers Weekly
[ Publishers Weekly | 2023-12-15 05:00:00 UTC ]
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A lot of us talk the talk about what’s wrong with book publishing today—but who among us is walking the walk and actually effecting change in the world of literature? On Missing Pages, which I host for The Podglomerate, we look into past and present situations and processes (even scandals and... Continue reading at Electric Literature
[ Electric Literature | 2023-12-06 12:00:00 UTC ]
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Books once included in Scholastic's optional Share Every Story, Celebrate Every Voice collection, along with additional books with inclusive content, will become part of regular book fair shipments next year. Continue reading at Publishers Weekly
[ Publishers Weekly | 2023-12-04 05:00:00 UTC ]
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Unionized magazine employees at Scholastic have reached a tentative agreement with management, establishing a $65,000 salary floor, general wage increases, ratification bonuses, and more. Continue reading at Publishers Weekly
[ Publishers Weekly | 2023-12-01 05:00:00 UTC ]
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The rollout of “Endgame” caused a scandal after a quickly withdrawn translation named family members said to have asked about the skin color of Prince Harry and Meghan’s future son. Continue reading at The New York Times
[ The New York Times | 2023-11-30 16:38:36 UTC ]
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Amazon Web Services (AWS) just kicked off its Las Vegas-based re:Invent conference with a stream of announcements, most of which involve the year’s most popular technology, AI. These news items, taken as a whole, give us a sneak peek at the company’s long-term goals for... Continue reading at Engadget
[ Engadget | 2023-11-28 20:00:28 UTC ]
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What is SkyTree Book Fairs? The new book fair attempting to take the place of Scholastic in schools–but it's not what you think. Continue reading at Book Riot
[ Book Riot | 2023-11-27 17:16:53 UTC ]
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After co-directing CALIBA since 2021, Kristin Rasmussen is leaving to become a Scholastic district sales rep, while Ann Seaton will stay on a for a period to facilitate the association's leadership change. Continue reading at Publishers Weekly
[ Publishers Weekly | 2023-11-20 05:00:00 UTC ]
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ALA names an interim executive director; New York City libraries curb services after a mid-year budget cut; Moms for Liberty goes after Scholastic Book Fairs; and the Pew Research Center finds people are increasingly turning to such social media sites as TikTok for news. Continue reading at Publishers Weekly
[ Publishers Weekly | 2023-11-17 05:00:00 UTC ]
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After a series of delays, Hogwarts Legacy is now available for the Nintendo Switch console. The wizardly game was released in February for PS5, Xbox Series X/S and PC, with the PS4 and Xbox One versions following in May. The Switch version was also expected during the... Continue reading at Engadget
[ Engadget | 2023-11-14 19:21:59 UTC ]
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Among the week's headlines: a good election night for libraries meant a bad one for book banners; a national teachers group met with Scholastic leaders over the company's abandoned program to segregate diverse books; and librarians fired for defending the freedom to read headed to the U.S. Equal... Continue reading at Publishers Weekly
[ Publishers Weekly | 2023-11-10 05:00:00 UTC ]
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The Sonos Beam has been our top pick for compact soundbars for a while now. It offers a lot in a small package and the second-gen version also supports more immersive Dolby Atmos audio. The Beam doesn’t have any upfiring drivers though, so the impact of that spatial... Continue reading at Engadget
[ Engadget | 2023-11-09 18:30:45 UTC ]
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Roxanne Coady talks with John Sargent about his many adventures in book publishing at a time when the industry met many challenges and some of the authors and other characters he worked with along the way. Subscribe and download the episode, wherever you get your podcasts!... Continue reading at Literrary Hub
[ Literrary Hub | 2023-11-02 08:18:56 UTC ]
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Publisher to double dividend after demand grows for books by Sarah J Maas and Samantha ShannonBusiness live – latest updatesThe book publisher Bloomsbury has hit record profits in the first half of the year thanks in part to a boom in fantasy fiction driven by the American author Sarah J Maas,... Continue reading at The Guardian
[ The Guardian | 2023-10-26 07:50:43 UTC ]
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Scholastic Inc. will end a widely criticized policy that made it easier for school book fairs not to sell works with racial, disability and LGBTQ+ themes Continue reading at ABC News
[ ABC News | 2023-10-25 19:50:33 UTC ]
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Documentary tells story of David Holmes who sustained a spinal injury during filming of The Deathly Hallows: Part 1Daniel Radcliffe has teamed up with his Harry Potter stunt double, who became paralysed after an on-set accident, for an HBO documentary.David Holmes worked closely with Radcliffe... Continue reading at The Guardian
[ The Guardian | 2023-10-25 14:32:27 UTC ]
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