S&S Realigns Sales Force
Simon & Schuster is reorganizing its field sales force, forming a unit that will call on both independent booksellers and certain specialty accounts. The new sales unit, which will begin calling on accounts September 5, will sell all S&S titles; the sales force has been divided into adult and juvenile groups. As part of the realignment, S&S is eliminating the use of commissioned rep groups to sell its titles to specialty markets.
Frank Fochetta, v-p of field sales and special sales at S&S, said the addition of specialty accounts—mainly smaller gift stores and some larger chains, such as Hallmark—to reps' territories will permit S&S to continue offering in-person sales calls to all indie bookstore accounts that want it. Under the reorg, the country will be divided into three sections, each with eight or nine reps.
TWBG Adds To Hachette
The former Time Warner Book Group contributed 98 million euros ($121 million) to Lagardére Media's book group in the first half of 2006. Lagardére acquired TWBG on March 31. Total book sales at Lagardére's Hachette Livre subsidiary rose 13.6%, to 817.4 million euros ($1 billion).
Dalmatian Acquires Intervisual
Dalmatian Press has acquired Intervisual Books, paying about $9.6 million to acquire the children's book publisher, which filed for bankruptcy protection in May. Dalmatian's bid topped an early offer of just over $7 million from Educational Development Corp. Random House was also interested. Dalmatian is best known for publishing children's coloring and activity books.
Nelnet Buys Peterson's
Nelnet, a Lincoln, Neb., company that provides loans and other financial-related services to college students, has acquired Peterson's, the test prep and college guide publisher that had been part of Thomson Corp. According to Nelnet, Peterson's will remain in Lawrenceville, N.J., under the direction of Mary Gatsch.
Sales Up at Meredith
Sales at Meredith Books grew "in the mid teens" in the fiscal year ended June 30, parent company Meredith Corp. said. Operating profits "grew slightly" in the year, with final results hurt by higher returns of some licensed titles. Books that sold well included the "Pink Plaid" edition of Better Homes and Gardens Cook Book, The Sonoma Diet and several children's books.
Bernard Exits Harcourt
After a decade at Harcourt, v-p and publisher of adult books Andre Bernard is stepping down. Bernard, who's been in the business for more than 20 years, is leaving to become v-p of the Guggenheim Foundation. Stepping into Bernard's spot will be Rebecca Saletan, Harcourt editor-in-chief and associate publisher.
Bracco Succeeds Black At CDS
The Perseus Book Group has named Sabrina Bracco v-p for client services at its distribution arm, CDS. Bracco succeeds Steve Black, a cofounder of CDS. Perseus acquired CDS last year. Bracco has been at Bear Stearns, but prior to that she was director of sales operations for Perseus. She will report directly to Perseus head David Steinberger, as will Roger Cooper, whom Black recruited to run CDS Books.
Verso Expects Profits
After "a number of years in the doldrums," Verso managing director Giles O'Bryen said the company has a "realistic prospect of returning to profitability" this year. Sales for the first six months of 2006 were up 70%, to $1.7 million, and the company is on track to hit its sales target of $4.2 million. Among fall titles are books by Tariq Ali and Mike Davis.
