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 ]
Scholastic Book Fairs will no longer offer a separate diverse voices book case. But they still fail to address many questions. Continue reading at Book Riot
[ Book Riot | 2023-10-25 14:12:58 UTC ]
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With debates over book bans growing more contentious, the education publishing company tried to find a happy medium that may not exist. Across the nation, it’s time for the Scholastic Book Fair. The beloved and nostalgia-triggering event, where kids go and pick out an armful of books to take... Continue reading at Fast Company
[ Fast Company | 2023-10-25 13:50:00 UTC ]
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The publisher had said it would segregate books with themes on race and gender at school fairs in order to navigate a rash of bans across the country. Continue reading at HuffPost
[ HuffPost | 2023-10-25 04:04:33 UTC ]
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After a public outcry, Scholastic this week said it will discontinue its optional diverse stories collection and pledged to "redouble" its efforts to "combat the laws restricting children’s access to books." Continue reading at Publishers Weekly
[ Publishers Weekly | 2023-10-25 04:00:00 UTC ]
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Commercial book publishing was (and is) unbearably white. In 1971, when Toni Morrison became a trade editor, about 95 percent of the fiction published by the big commercial houses was by white authors. By 2018, that number dropped only to 89 percent. One of the only other black women working as... Continue reading at Literrary Hub
[ Literrary Hub | 2023-10-24 08:50:40 UTC ]
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In the lead-up to this year's Esports Business and Gaming Summit, the event's organizers polled 112 North American gaming and esports executives about their thoughts on the industry’s current trajectory, representing a cross-section of executives in sectors including broadcasting and media,... Continue reading at Digiday
[ Digiday | 2023-10-24 04:01:00 UTC ]
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Among the week's headlines: a congressional hearing in support of book bans; more librarian blowback for Scholastic Book Fairs over its optional collection of diverse books; and the Urban Library Council issues a report on AI in libraries. Continue reading at Publishers Weekly
[ Publishers Weekly | 2023-10-20 04:00:00 UTC ]
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Children’s book publisher will allow US districts to include or exclude separate list, a decision that has led to a backlashThe children’s book publisher Scholastic said it will separate titles in its elementary school book fairs by race, gender and sexuality, allowing school districts to... Continue reading at The Guardian
[ The Guardian | 2023-10-18 15:10:12 UTC ]
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In her essay for PW, author Dhonielle Clayton reflects on the perils of publishing a diverse magic school series in the shadow of Harry Potter and its creator. Continue reading at Publishers Weekly
[ Publishers Weekly | 2023-10-17 04:00:00 UTC ]
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Scholastic said that it created its new "Share Every Story, Celebrate Every Voice" offering as a way to protect librarians and school officials dealing with restrictive new state laws and policies, but critics say that the program invites censorship. Continue reading at Publishers Weekly
[ Publishers Weekly | 2023-10-17 04:00:00 UTC ]
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Scholastic has separated out LGBTQ books and BIPOC books into an optional add-on box in a policy some are calling a "bigot button." Continue reading at Book Riot
[ Book Riot | 2023-10-16 14:39:10 UTC ]
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Veteran actor Michael Gambon, who was known to many for his portrayal of Hogwarts headmaster Albus Dumbledore in six of the eight Harry Potter films, has died, his publicist said Thursday. He was 82. Continue reading at CBC
[ CBC | 2023-09-28 12:32:43 UTC ]
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The Olivier award-winning actor, whose major film roles included Albus Dumbledore in the Harry Potter series, has died• ‘An actor who let his heart and soul crack open’: David Jays on Michael Gambon• A life in pictures – gallerySir Michael Gambon, whose extraordinary acting career took him from... Continue reading at The Guardian
[ The Guardian | 2023-09-28 11:39:05 UTC ]
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If anyone has ever told you Dune is a “tough read,” it would be interesting to see if that same person was able to read an eight‑hundred‑page Stephen King or Harry Potter novel. Although there are dozens and dozens of characters, and various layers of politics, religion, philosophy, and science... Continue reading at Literrary Hub
[ Literrary Hub | 2023-09-27 09:40:37 UTC ]
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Lower trade book sales and costs associated with the creation of its new School Reading Events business resulted in an operating loss in the quarter at Scholastic. Continue reading at Publishers Weekly
[ Publishers Weekly | 2023-09-24 04:00:00 UTC ]
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Through his businesses, Rupert Murdoch pushed a world view with the pursuit of money at its heartThere are not many chairmanships of companies that would so fascinate writers, and television producers, that they would make four series about them. Rupert Murdoch’s long tenure at Fox and News Corp... Continue reading at The Guardian
[ The Guardian | 2023-09-22 17:40:41 UTC ]
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Studios behind Harry Potter films to undergo 400,000 sq ft expansion by 2027, in boost to struggling industryThe Warner Bros studios behind the Harry Potter film series are to undergo a major expansion, creating 4,000 jobs and providing a boost to Britain’s beleaguered film and TV production... Continue reading at The Guardian
[ The Guardian | 2023-09-21 21:30:09 UTC ]
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Actor warns about dangers of artificial intelligence after discovering version of his voice based on Harry Potter audiobooksStephen Fry has issued a warning about the potential dangers of AI, after claiming that a history documentary faked his voice without his knowledge. Speaking at the... Continue reading at The Guardian
[ The Guardian | 2023-09-20 16:05:11 UTC ]
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TikTok is rolling out a toolset that lets users label posts that have been created or enhanced by artificial intelligence. This move comes after the social media giant added a number of filters for video uploads that made heavy use of AI, and an image generator to help create unique backgrounds.... Continue reading at Engadget
[ Engadget | 2023-09-19 15:45:36 UTC ]
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A right-wing book publisher has a solution to Scholastic Book Fairs: their own. That, plus this week's book censorship news. Continue reading at Book Riot
[ Book Riot | 2023-09-15 10:40:00 UTC ]
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