Changing Hands, Kate McCune Win
Changing Hands Bookstore, located in Tempe, Ariz., has been chosen as PW's Bookseller of the Year. Changing Hands, in business for 33 years, is co-owned by Gayle Shanks; her husband, Bob Sommer; and Susie Brazil. "These people serve as examples of what booksellers should aspire to become," said Random House district sales manager Ron Smith.
PW's Rep of the Year is Kate McCune, who works out of Ann Arbor, Mich., for HarperCollins. Both awards will be presented at BEA.
B&T Bid Okayed
On March 5, the U.S. Bankruptcy Court for the District of Delaware approved B&T's $76-million offer to acquire certain assets from AMS. Bids have also been received for some of the remaining assets, which include inventory. A ruling on other offers could come this week.
New Homes For Berrett-Koehler, DH
Two former PGW clients are switching their distribution in the aftermath of Perseus Books' acquisition of the distributor. Berrett-Koehler Publishers will switch to Ingram Publisher Services effective March 12. Dark Horse Books will switch the distribution of its M Press, and DH Press imprints, as well as its U.K., Australian and overall international distribution, to Diamond Books Distribution, effective immediately.
Sales Up, Earnings Down at Wiley
Total revenue at John Wiley & Sons rose 9% for the third quarter ended January 31, to $296.8 million, but adjusted net income fell 6%, to $32.1 million. Earnings reflect a $5-million charge to account for the AMS bankruptcy plus additional charges for stock option expenses. Sales in the professional/ trade operation rose 2%, to $103.8 million led by sales of backlist titles and technology books, plus higher sales of electronic rights.
Abate to Endeavor
Longtime ICM agent Richard Abate has signed with Endeavor to open an East Coast book division for the talent agency. ICM, however, has filed a complaint to block his move until year's end.
Steerforth Buys W&R
Steerforth Press and a group of investors have purchased the assets of Writers & Readers, the press founded by the late Glenn Thompson. Steerforth will immediately revive 20 titles from the backlist of W&R's For Beginners series, which will become a Steerforth imprint. Distribution is by Random House.
Soft U.S. Dents Quarto
Total revenue at London-based Quarto fell 1% in 2006, to £93.6 million ($172 million), but operating profit improved by 2%, to £6.9 million ($12.7 million). The sales drop was attributed mainly to a 7% decline in the U.S., where revenue fell to £43 million ($79 million), due primarly to a 23% plunge in sales at Quarto's at Book Sales. Improved efficiencies and strong backlist sales helped to lift earnings despite the sales decline and the write-off of £1.2 million connected to AMS's bankruptcy.
Correction
In Sara Nelson's editorial of Feb. 26, in which a dispute between a film producer and Clive Cussler was recounted, we quoted a newspaperreport that Cussler's novel Sahara "had sold 100 million copies worldwide." A subsequent clarification in the the L.A. Timesnoted that what was at issue was worldwide sales of all of Cussler's books, not just Sahara.
