October 10, 2008 | Written by admin
How bad are things on the financial side of publishing? Publisher's Lunch today offered some startling facts:
-Barnes & Noble stock is down 19% from their high last month.
-JohnWiley is off 25% during that same span.
-Scholastic is down 26% since September 19th.
-Amazon has lost 31% over that same time.
-Hachette's parent company Lagardere is down 31.5%.
-News Corp, which owns HarperCollins, is down 36%.
-CBS, which owns Simon & Schuster, is down 40%.
-Borders is down 44% in the past 30 days.
-Books-a-Million is down 49% over that same time.
-And PW Daily reported that Atlas & Co. has been forced to delay its Spring 2008 list due to economic issues.
Want some happier news? J.K. Rowling earned $300,000,000 in this past fiscal year, according to Forbes magazine.