Matthew Shear, SMP Publisher, Dies
Matthew Shear, executive v-p and publisher of St. Martin’s Press since being promoted to that post in 2010, died Aug. 28. Shear began his career as a publicist and became one of the leading publishers of mass market paperbacks. At St. Martin’s, Shear was v-p and publisher of the mass market division before being named publisher of the paperbacks and reference group when that division was created in February 2000. He stayed in that position until his promotion to publisher a decade later.
Judge Lightens Apple Injunction
At a hearing on Aug. 27, Judge Denise Cote revealed that her final order would spare Apple what were considered the two most contentious remedies proposed by the DOJ. First, the final injunction will not seek to regulate Apple’s activities in its App Store, or intrude into other content markets. Second, Cote said she would employ only a scaled-back version of an external monitor for a two-year period only, with a potential yearlong extension if cause exists.
Higher Loss for BAM
A 12% decline in comparable store sales and one-time charges associated with an income tax adjustment resulted in a $9 million net loss at Books-A-Million for the second quarter ended Aug. 3. Total sales fell 8.6% compared to the same period last year.