Millbrook Assumes Publishing Role for Magic Attic
-- 6/8/98
The Magic Attic Press, which hoped to carve a niche for itself in the book and doll market similar to that of Pleasant Company, is retrenching. Magic Attic's parent company, L.L. Knickerbocker, signed an agreement with the Millbrook Press earlier this month under which Millbrook will handle the ongoing production, marketing, sales and distribution of the Magic Attic Press line. Millbrook will be financially responsible for those activities, but will share product development costs with Magic Attic.The agreement with Millbrook means that Magic Attic will close the New York City office it opened in the summer of 1996. Support for the press's management, creative and editorial functions will be handled by personnel at the Magic Attic Club facility in Portland, Maine, which conducts the company's catalogue business. Robert West, COO for Knickerbocker, said the deal with Millbrook will help the company improve its bottom line. Millbrook reported that sales for the nine-month period ended April 30, 1998, rose 18%, to $11.7 million, while the company posted a net income of $563,000, compared to a net loss of $693,000 in the same period in fiscal 1997. Millbrook attributed the improvement to "significant" increases in trade and special sales, as well as the acquisition of Twenty-First Century Books. Back To News---> |
