Wednesday, November 09, 2016

Publishers Lunch - US Book Trade News

HarperCollins' parent company News Corp. reported fiscal first quarter results on Monday after the close of the market, with mixed results for the book publishing unit. Sales of $389 million were down $20 million from the first quarter a year ago -- blamed on the "the absence of revenues from Go Set a Watchman by Harper Lee," which they now say generated $32 million in sales in fiscal Q1 2016. Note, however, that this time a year ago, adjusted sales declined $7 million even with strong sales for Watchman, so the bar was set low. (Then they blamed the dropoff in Divergent sales.) Profits were hit even harder a year ago, when EBITDA declined by $20 million, which helps to explain the modest rebound in the current quarter -- EBITDA rose $6 million, to $48 million, "due to the mix of titles."

For more on HarperCollins' first quarter results, visit

Madeleine Thien won the Giller Prize for her novel Do Not Say We Have Nothing (Norton/Knopf Canada), which was shortlisted for the Booker and also won the Governor General's Prize for Fiction. Thien will receive $100,000 (CA) along with the prize.

Christine McNamara has been appointed to the new position of vp, marketing strategy at the Penguin Publishing Group. Previously she was vp, partnerships & content marketing at Penguin Random House's consumer marketing development group, which announced its own round of promotions: Katherine McCahill moves up to vp, director, partnerships, consumer events, and apps; Lilly Kim is promoted to director, partnerships; and Kristen Fritz moves up to vp, content marketing.

At Harper Christian,
Amanda Bostic has been promoted to associate publisher, fiction.

At Sourcebooks,
Anna Michels has been promoted to senior editor.

Shawn Donley has been hired for a newly-created Hachette Book Group sales rep position based in Portland and covering Washington State and Oregon. Most recently he has been purchasing director at Powell's Books, and Donley is the most recent president of the Pacific Northwest Booksellers Association.

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