Hachette, Strictly by the Book Battle
After the Hachette Book Group filed a breach-of-contract lawsuit against the remainder company Strictly by the Book, charging that SBTB owed it $5.6 million, the remainder house filed its own lawsuit charging the publisher with trying to destroy the company so it can take back its remainder business from SBTB.
Allen to Head AAP
After serving as president of the AAP for nearly 12 years, Pat Schroeder will step down May 1, to be succeeded by Tom Allen, a former six-term representative from Maine. As a member of Congress, Allen served on House committees for Energy and Commerce, Budget, Armed Services and Government Reform.
Harlequin Up In 2008
Revenue at Harlequin rose 2.2%, to C$472.9 million ($379 million) in 2008, while operating profit increased 11.2% to C$67.4 million. Sales in the company's North American retail and Overseas segments were up in the year, offsetting declines in the North American direct-to-consumer segment. Harlequin also had a slight benefit from the strengthening of the U.S. dollar. Full-year results were given a boost by a strong fourth quarter in which revenue jumped nearly 19% and profits rose 34.6%.
Parent company Torstar remained upbeat about prospects for Harlequin in 2009 despite the bad economy. In early 2009, Harlequin continues to perform well and results are expected to be stable for the year, even with cost increases for pensions and paper. The positive outlook could change, however, due to a decrease in consumer spending in the U.S. and “disruptions to the U.S. retail distribution system.”
Marvel Publishing Flat
Marvel's publishing division finished 2008 with sales of $125.4 million, virtually flat with 2007, when revenue was $125.7 million. Operating profit slipped to $47.3 million from $53.5 million, which the company said was primarily due to investments in digital initiatives. Marvel did well at the end of the year: fourth-quarter sales were up 9%, to $33.1 million, and earnings rose to $13 million from $12.3 million. For 2009, Marvel is predicting that publishing sales will range from $115 million to $125 million.
Marvel also announced last week that faced with restrictions on the distribution of its comics adaptation of Stephen King's bestseller, The Stand, the company will sell the hardcover graphic novel The Stand: Captain Trips exclusively through the comics shop market.
B&N Sells Calendar Club Stake
Barnes & Noble has sold its majority interest in the Calendar Club to its CEO in a $7 million deal that includes $1 million in cash and $6 million in notes. The sale will result in an after-tax charge of $9.7 million. Last year, Calendar Club contributed $113.5 million to B&N's total revenue, but had only a very minimal impact on earnings.
Nash Exiting Soft Skull
Richard Nash will step down as editorial director of Soft Skull Press and executive editor of parent company Counterpoint March 10. Nash joined Counterpoint when the New York press was sold to Charlie Winton's Berkeley, Calif.—based Counterpoint. Winton said he intends to keep an editorial office in New York and to maintain the Soft Skull imprint. Nash hopes to get involved with developing a new model for independent publishers.
New Imprint at Publications International
Publications International Ltd. is launching a new adult trade imprint, West Side Publishing. The new imprint will focus on general-interest nonfiction in hardcover and paper formats. Thirty-one titles are available immediately, and West Side plans to release 50 books in 2010.
Vintage, RH Mondadori in Copub Deal
Through a copublishing agreement between Vintage Español and Random House Mondadori, Vintage Español will increase the number of Spanish-language titles it publishes in the U.S. from 15 annually to 45. Beginning this fall, Vintage Español will add RH Mondadori authors Ken Follett, Cormac McCarthy and others to its list.
Epler to New Directions
Barbara K. Epler has been named publisher of New Directions Publishing. Epler succeeds Peggy Fox, who is staying on at New Directions as president.
Correction
On page 19 of last week's issue (Feb. 23), our cover story on Christian fiction misstated the number of fiction titles coming out this year from David C. Cook. The correct number is 15 titles, the same as last year's output.
