Thursday, 11 November 2010

Publishing Appointments and Publishers results

Publishing Appointments

The managing directors of Cornerstone, Ebury and Random House Children's Books are among the new appointments to the board of the publisher. Susan Sandon, Cornerstone m.d., Fiona MacIntyre, Ebury m.d., Philippa Dickinson, RHCB m.d. and group HR director Neil Morrison have all been appointed with immediate effect.

Gail Rebuck, chair and c.e.o. of Random House Group, said: "This new structure ensures that we harness the strengths and talents at board level of all those with responsibility for our major UK profit centres and aligns us with the board structure of our colleagues at Random House Inc."It also highlights our commitment to talent management; recognising the importance that people and culture play in our business planning and organisational strategy."

Lindsay Sagnette will join Crown as senior editor, acquiring hardcover fiction, reporting to Molly Stern and starting November 15. She was most recently an editor at St. Martin's, following stints at Riverhead and Grove/Atlantic.

Jeanette Perez is being promoted to senior editor at Harper One, acquiring primarily non-fiction in the areas of personal growth, health, lifestyle, and memoir.

Kristin Daly Rens has been promoted to senior editor at Harper Children's imprint Balzer & Bray.

Publishers Results

Harlequin Mills and Boon's parent company Torstar has reported a 18.7% growth in profit for the third quarter, with its publishing arm seeing "stable" sales. Earnings before interest, tax, depreciation and amortisation for the group was $50.8m for the quarter ended 30th September, up 18.7% from the quarter last year. Revenue was $352.7m for third quarter, up $9m from the third quarter of last year. Book publishing operating profit for the quarter was $23m, up $0.1m on the third quarter last year.

Profits increased amid a fall in sales in Simon & Schuster's global third quarter results.Publishing revenue in the three months to 30th September was down 6% to $217.7m from $230.4m the previous year. For the nine months to 30th September, sales were down from $573.5m to $559.1m.
While S&S did not strip out UK figures, for the first 36 weeks of the year Simon & Schuster's UK sales were up 21% to £18.7m, according to Nielsen BookScan. This is the largest sales growth of any of the top 10 publishers in 2010.

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