Quarto Results Rise; Group Buys Frances Lincoln Ltd.
The U.K.-based Quarto Group reported gains in sales and earnings for the first six months of 2011 and also announced that it has acquired the U.K. publisher Frances Lincoln Ltd. Total revenue rose 5%, to $72.5 million, and operating profit increased 7%, to $2.7 million. Sales in the publishing division rose 3%, to $51.6 million, and were up 12% in the co-edition segment, to $21.0 million. Quarto's publishing division benefited from its purchase of Cool Springs Press as well as good performances from Lifetime in Australia; Rockport, CPi, and Walter Foster in the U.S.; and Aurum in the U.K.
Books Fall 9% At Hastings
Hastings Entertainment had a disappointing second quarter for the period ended July 31 with total sales down 7.2%, to $110.5 million, and a net loss of $4 million compared to earnings of $82,000 in last year's second quarter. Books were one of the weakest performing categories in the period, with comps down 9.4%. The only book segments to post a gain in the quarter were value books and used hardcovers, although Hastings noted that sales of all used books decreased 12.1% for the quarter.
White Cloud Adds Collaborative Imprint
White Cloud Press has launched Confluence Books, an imprint that will use collaborative agreements with authors. Royalties range from 25% to 65%, and authors may buy books in advance or contribute funding that covers printing and marketing costs.
HC Partners With Fox News On World Trade Center E-book
HarperCollins is releasing an e-original about the rebuilding of the World Trade Center site with Fox News. The enhanced e-book, Rise of Freedom: The New World Trade Center, is scheduled for August 23 and will feature videos and pictures of the construction work that has gone on at ground zero over the past decade.
Donnelley Buys LibreDigital
As book printers look to move beyond just manufacturing print products, R.R. Donnelley has acquired LibreDigital, the e-book distributor and provider of other digital services. LibreDigital's services include electronic preparation, distribution, and engagement services, and will expand Donnelley's ability to distribute both print and digital products.
Second Circuit Rejects 'Freelance' Settlement
A three-judge panel of the Second Circuit Court of Appeals rejected an $18 million settlement in the long-running class action suit filed by freelance writers following the landmark Tasini case, and in the process have likely killed the chances of a revised settlement in the Google settlement case. In its 2–1 ruling, the court held that the district court that approved a settlement between freelance writers and publishers in the class action case, known as Freelance, "abused its discretion in certifying the class and approving the Settlement, because the named plaintiffs failed to adequately represent the interests of all class members."
Disney Donates Eight Million Books, $500K
Disney will donate $500,000 and eight million books to First Book, a national nonprofit organization that provides new books to children in need. Since its founding in 1992, First Book has distributed more than 85 million new books to children from low-income families in thousands of communities throughout the United States and Canada. First Book now distributes an average of more than 25,000 books per day. Disney Publishing Worldwide has worked with First Book since 1999.
