Publishers Weekly July 5, 2021

Publishers Weekly magazine is the definitive professional resource covering every aspect of book publishing and book selling. Over 20,000 book and media professionals turn to Publishers Weekly each week for news and information. Publishers Weekly covers the creation, production, marketing and sale of the written word in book, audio, video and electronic formats.

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51 Numéros

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1 min
the week in publishing

Multicultural children’s book publisher Lee & Low Books has acquired Cinco Puntos Press. The acquisition adds 130 titles to Lee & Low, including the first adult titles it will publish. Simon & Schuster’s Gallery Book Group has launched 13A, a new imprint dedicated to “publishing renowned, relevant, Black voices in culture and politics.” Charles M. Suitt will serve as publisher, and its first title will be released this month, with a full list coming next year. Scribner bought The Candy House by Jennifer Egan, and an Apr. 5, 2022, publication date has been set. The publisher is dubbing The Candy House as a “sibling novel” to Egan’s Pulitzer Prize–winning 2010 book, A Visit from the Goon Squad. All Hachette Book Group U.S. offices will reopen this September under a hybrid working model, and…

2 min
industry stocks soar

The Publishers Weekly Stock Index, now down to seven companies, did something in the first half of 2021 it has rarely done: it outperformed the Dow Jones Industrial Average. The PWSI fell 4% in 2020 but had a strong rally in the first six months this year, jumping 37.1% between Dec. 31, 2020, and June 30, 2021. The Dow rose 12.7% in the period. In another unusual feat, the top-performing stock on the PWSI in 2020, Educational Development Corp., had the worst performance in the first half of 2021, while Houghton Mifflin Harcourt, which finished at the bottom of the PWSI last year, had the biggest gain. After a slow start following the outbreak of the pandemic, EDC’s stock price jumped 148% in 2020 as its sales and earnings shot up,…

4 min
at 50, the overlook press settles in at abrams

According to Tracy Carns, editorial director of the Overlook Press, company cofounder Peter Mayer always loved anniversaries, and even though Mayer—onetime CEO of Penguin—died in May 2018, Abrams is marking the 50th anniversary of the press this year with a number of new initiatives. Abrams bought Overlook in summer 2018 as part of its effort to expand its adult publishing business beyond the illustrated titles for which it is best known. Abrams CEO Michael Jacobs had worked for Mayer, considered him a mentor, and was familiar with the Overlook list, so when the press was put up for sale, Jacobs felt it was the perfect opportunity to jump-start Abrams’s adult fiction program. The acquisition, he said, has met all of his expectations. The deal gave Abrams some 1,300 titles, reflecting, Carns acknowledged,…

7 min
whitman repairs relationships, moves into digital media

Albert Whitman & Company, best known as the publisher of the Boxcar Children series, has undergone a transformation in the past six months. The 102-year-old Chicagoland publisher is moving into the digital media market with the launch of Albert Whitman Media and is also expanding its workforce in editorial, sales, and marketing. Executives have also implemented new procedures designed to improve the fraught relationships between AW&C and its authors and illustrators that PW reported on last November, when a number of authors and literary agents went on the record detailing a range of issues they experienced working with the publisher. In a recent conference call, president John Quattrocchi emphasized that the complaints made “were helpful for us, and we worked internally to focus on addressing the issues.” He claimed that all…

1 min
print sales rose 6.4% at the end of june

Unit sales of print books rose 6.4% in the week ended June 26, 2021, over the comparable week in 2020, at outlets that report to NPD BookScan. Adult fiction sales increased 28.1%, and the gains were achieved without any new releases making a splash. The President’s Daughter by James Patterson and Bill Clinton remained #1 on the category list, selling more than 30,000 copies. Two books released early this spring had good weeks: People We Meet on Vacation by Emily Henry sold more than 21,000 copies, good enough for fourth place on the adult fiction list, and Malibu Rising by Taylor Jenkins Reid was fifth, selling more than 18,000 copies. YA fiction sales jumped 49.6% over the week ended June 27, 2020, as books propelled by exposure on #BookTok continued…

2 min

DEAL OF THE WEEK Khanna Makes ‘Tech Work’ for S&S Ro Khanna, a congressman whose district includes Silicon Valley, sold Dignity in a Digital Age to Simon & Schuster. The book, subtitled Making Tech Work for All of Us, was acquired by executive editor Stephanie Frerich in a world rights agreement from Jim Levine at the Levine Greenberg Rostan Literary Agency. S&S said Khanna tackles “equal access to technology,” one of the pressing issues of our day, and makes the case for “democratizing digital innovation in order to build economically vibrant and inclusive communities.” Before being elected to Congress, Khanna served as deputy assistant secretary of commerce in the Obama administration. Orbit Sprinkles Abdullah’s ‘Stardust’ After an auction, Orbit’s Brit Hvide won world English rights, for six figures, to a debut epic…