Australia’s publishing (and bookselling) business has remained protected by “parallel import restrictions” that have kept the country relatively de-Amazoned — but just as American antitrust law has been favoring low consumer prices over market consolidation, the Australian government is prioritizing lower prices for books over protecting the local publishing business. The Australian Government Productivity Commission just issued a draft report on intellectual property arrangements that recommends repeal of parallel import restrictions for books “in order for the reform to take effect no later than the end of 2017.” Authors and publishers are lining up quickly in opposition to the proposal. Authors Thomas Keneally, […]
Archives for April 2016
Corporate: Pearson Has Expected Q1 Decline, As CBS Considers Buyout of Redstone Shares
Pearson issued a first quarter “trading update” in connection with their annual meeting. As expected, results were weak, with overall sales down 6 percent, “in line with expectations.” They say Penguin Random House “had a solid first-quarter performance with a strong bestseller performance and net integration benefits partly offset by reduced demand for ebooks, following industry-wide changes in terms in 2015.” In other corporate news, Reuters reported exclusively that CBS has held “preliminary and ongoing” discussions with investment bankers in recent months regarding “how it could buy CBS’s voting shares from Redstone’s National Amusements Inc, and collapse CBS’s dual-class share […]
People, Etc.
Diana Velasquez has been promoted to senior marketing manager for the Gallery Books Group imprints. At Simon & Schuster’s education and library marketing department, Candace Greene McManus has been promoted to senior marketing manager; Anthony Parisi moves up to marketing manager; and Christine Naulty has been promoted to associate marketing manager. Emily Murdock Baker has left Penguin, where she was most recently an associate editor, to launch EMB Editorial, an independent editing service. At Temple University Press, Aaron Javsicas has been promoted to editor-in-chief. Awards The Edgar Awards were announced Thursday evening, including several milestones: Lori Roy, Best Novel winner […]
Amazon Has Better-than-Expected Profit
Amazon reported first quarter sales on Thursday afternoon following the close of the market, with net income of $513 million (or $1.07 per share) that was almost double what analysts were expecting. The company’s shares are up close to 10 percent in early Friday trading as a result. Net sales rose 28 percent to $29.13 billion, also well ahead of projections. As in previous quarters, the real source of the profits is the fast-growing AWS web services business, where operating income was $604 million. North American media sales of $3.21 billion were up 8 percent (gaining $239 million) and international media […]
Family Entertainment Network Relaunches As StoryArc; Frankfurt Adds Controlling Stake In IPR License; Readerlink Adds ANconnect Book Business
The Family Entertainment Network of web-based children’s games and other properties — including Poptropica, created by Wimpy Kid author Jeff Kinney, and Funbrain — has officially relaunched as StoryArc Media. The company was sold to Sandbox Partners last May by Pearson. Kinney has the title of chief creative officer under the new StoryArc banner, and Jen MacLean is president. Separately, the Frankfurt Book Fair has increased the minority stake they took in rights and licensing platform IPR License last May to give the fair controlling interest. Copyright Clearance Center retains their minority stake. FBF’s vp emerging media & English language markets Thomas Minkus will take […]
Following Bloomberg Investigation Amazon Promises Same Day Delivery for Roxbury, MA; Congressman Calls for FTC Inquiry
Amazon responded to criticism in the wake of Bloomberg’s extensive investigation showing that the rollout of their Prime Same-Day Delivery service has focused on areas where residents are primarily white, and overlooked neighborhoods. The company is correcting what Bloomberg had called “the most striking gap in Amazon’s same-day service,” which was “in Boston, where three ZIP codes encompassing the primarily black neighborhood of Roxbury are excluded from same-day service, while the neighborhoods that surround it on all sides are eligible.” Amazon told Bloomberg by email, “We are actively working with our local carrier to enable service to the Roxbury neighborhood in the coming weeks.” […]