Tuesday, November 28, 2017

Publishers Lunch

 
Today's Meal


People
Eva Scalzo
has joined Speilburg Literary Agency, representing romance and young adult fiction.

Best Of
Last Wednesday the NYTBR posted their list of
100 notable books for 2017. That means their top 10 list is due later this week. Former NYT book critic Michiko Kakutani doesn't have a vote this year, but last week she indicated in a Tweet that three of her "favorite novels" from the year are Lincoln in the Bardo by George Saunders, Exit West by Mohsin Hamid, and Stay with Me by Ayobami Adebayo.

Corporate
As expected, Pearson has reached a
deal to sell their Wall Street English business to a consortium of private equity funds. Pearson says the deal is expected "to generate gross cash to Pearson of around $300 million." But $150 million of operating cash will stay in the disposed business, and taxes and transaction costs will eat another $50 million, leaving Pearson about $100 million to help pay down their debt. The stock fell in early trading in London as investors evaluated the modest proceeds, and Pearson has completed their planned asset sales.

Bookselling

Waterstones will open five new bookstores before Christmas. Stores in St. Neots and Epsom will carry the Waterstones branding, while smaller stores in Deal, Weybridge, and Blackheath stores will be named for their locations, as if they were local shops. They also announced more locations for 2018, including one in Reigate.

Author Marc Lamont Hill's bookstore, Uncle Bobbie's Coffee & Books, will open in the Germantown neighborhood of Philadelphia today. Hill
told the Tribune that black bookstores were "where I discovered the world. It's where I got a different curriculum than what school gave me. So for me, I thought it was important to pay that forward and to build something for the community in the same vein." The store also has a coffee shop and event space, where Hill plans to host free readings and more.

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