TODAY'S NEWS

Quebecor Results Slip in Quarter
Acknowledging that its bankruptcy filing in January “created uncertainty with selected customers,” that resulted in “spot volume reductions,” Quebecor World reported this morning that total revenue in the first quarter ended March 31 fell to $1.26 billion from $1.39 billion and the company had a net loss of $190 million compared to a loss of $38.1 million in last year’s first period. The operating loss before impairment of assets, restructuring and other charges and business disposals was $2.8 million compared to operating income of $22.2 million last year.

Despite a few defections, Quebecor president Jacques Mallette said the “overwhelming” majority of its customers have stuck with the company, and as proof he pointed to a number of new agreements signed with publishers, including a multi-year deal with Simon & Schuster. The company said it has made “substantial progress on the advancement of the Chapter 11,” and said that it expects to discuss its plans for emerging from bankruptcy with the stakeholders’ committees shortly.

Restructuring at Simon & Schuster Digital
Ellie Hirschhorn, who took over as chief digital officer at Simon & Schuster in February, has announced a restructuring of S&S Digital with some new hires and promotions, while also announcing that Kate Tentler, senior v-p of the group, will be leaving at the end of June. Read on »

A1Books Lowers Commissions
by Jim Milliot
The decision by AbeBooks to institute an 8% fee on seller shipping expenses has prompted its smaller rival, A1Books, to lower its sales commission from 12% to 10%. Company CEO Shinu Gupta said he hopes to make up for the lower commission by increasing total sales and adding new sellers. “Our goal is to increase the online sales pie,” Gupta said. A1 has approximately 7,000 sellers and offers 3.5 million individual items for sales through a1books.com.

Beginning in July, A1 will also alter its shipping charges, moving away from a flat shipping fee to one where sellers and buyers have flexibility in choosing their shipping options and prices. "Buyers willing to pay for a faster shipment or a heavier book will have the option to do so without affecting the booksellers’ margins,” Gupta said. The change should have the greatest impact on international booksellers who have the highest costs shipping to the U.S.

Bloomsbury Still Hunting for Deals
In a brief update of its first quarter performance, Bloomsbury said results have been in line with expectations. The U.K. company, which acquired Featherstone Education Ltd. at the end of March, said acquisitions “are very much at the forefront of the Group’s growth strategy,” and that with a strong balance sheet (helped by Harry Potter sales) the company is “in a good position to take advantage of opportunities as they arise.”

On the trade side, Bloomsbury said Khaled Hosseini’s two titles continued to sell well in the quarter in the U.K., while Bloomsbury USA “continues to operate in a difficult environment and we are managing the cost base to enable it to operate efficiently.” Earlier this year, Bloomsbury eliminated seven positions. The company added that the new Bloomsbury Press imprint had a good start led by Brian Fagan’s The Great Warming.

Goosebumps Nabbed By Columbia Pics
By Rachel Deahl
R.L. Stine's longrunning children's book series, Goosebumps, has been acquired by Columbia Pictures. After Scholastic Entertainment adapted the series for television in the mid '90s--it aired on the Fox Kids Network--the series will now head to movie theaters. The forthcoming feature will be produced by Scholastic Media president Deborah Forte and Neal H. Moritz (I Am Legend). To date, Goosebumps has sold over 300 million copies worldwide and has been translated in more than 32 languages. A new Goosebumps series, Goosebumps HorrorLand, released its first titles earlier this spring.

Speaking to the movie, which is headed into development now, Moritz, an active Hollywood producer, said that acquiring the rights to the series "comes with an enormous responsibility to the fans who have grown up with these books and have very high expectations about how these beloved novels will be adapted."

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MORE STORIES

Island Press Launches Web Site
The Washington, DC-based non-profit environmental house, Island Press, has launched a Web site featuring content from its authors as well as a direct sales option. The indie house, in a statement, said the site will function as a "clearinghouse" with a variety of information from its authors as well as podcasts and blogs. Charles Savitt, Island Press co-founder, said the site will be a "network hub" and allow for the publisher to interact with its readers in real time. Read on »

Monday's Reviews Today: Carter's Council & (Pagan) Kennedy's Essays
In Stephen L. Carter's "subtle and intelligent page-turner," Palace Council, a prominent African-American writer stumbles upon the corpse of a high-powered Manhattan attorney. Intrigued by details at the scene, the writer begins to do his own detective work and, though some plot points in the novel require some suspension of disbelief, "the rich characterization and elegant writing more than compensate." And in Pagan Kennedy's essay collection, The Dangerous Joy of Dr. Sex and Other True Stories, profiles of scientists and others--subjects range from renowned neuroligists to a parrot to inventor and MacArthur "genius" Amy Smith--come together in a work that makes "the complex compelling." Read on »

AUTHORS ON THE AIR

Authors on the Air: The Music Lesson; Mahatma Gandhi, Unwrapped; Israel Through My Lens
Today on The Bob Edwards Show, Grammy-winning bassist Victor Wooten discussed his first book, The Music Lesson: A Spiritual Search for Growth through Music (Berkley, $15). Read on »

PICTURE OF THE DAY

July Blooms in May
This week Miranda July got a peek at the 12 copy floor display for the four color editions of her new paperback, No One Belongs Here More Than You. July is picture here, next to the display she assembled, in her apartment in Los Angeles. (The displays have been in bookstores since May 6, the paperback’s publication date.) Submit your pictures here »

JOB OF THE DAY

PW VIRTUAL EDITION

To access the latest issue of Publishers Weekly no matter where you are, be sure to take a look at PW's Virtual Edition -- available online anytime. If you're not already a subscriber, take a look at a sample issue here.