Riggio Sells Chunk of B&N Shares
Barnes & Noble founder and chairman Len Riggio sold 3.7 million shares of B&N stock last week. While the sale reduces Riggio’s stake in the company to about 20%, he remains B&N’s largest shareholder. Last December, Riggio sold two million shares.
Boudreaux Gets Little, Brown Imprint
Lee Boudreaux, who is currently the editorial director of HarperCollins’s Ecco imprint, has been tapped to head her own imprint at Little, Brown. Boudreaux’s title will be v-p and editorial director, and her eponymous line will publish eight to 10 titles per year. She’ll start in the new role on Sept. 2.
February Bookstore Sales Fell 6.8%
Bookstore sales fell to $791 million in February, down 6.8% compared to the same month last year, according to preliminary estimates released by the U.S. Census Bureau. The bureau reported a 6.4% drop in January, putting bookstore sales 6.6% lower in the first two months of 2014.
Baker Publishing to Buy Regal Books
Baker Publishing Group and Gospel Light have announced that Baker will acquire Regal Books, the trade line of Ventura, Calif.–based Gospel Light. Under the terms of the deal, Baker will get some 625 titles, including Regal’s backlist, frontlist, and forthcoming books. The Regal sale will allow Gospel Light to focus on its core mission of producing curriculum for churches, Sunday schools, and vacation Bible schools.
NEA to Give $1.4 Million in Lit Grants
The National Endowment for the Arts will award $1.42 million to 56 U.S. literature nonprofits. The news was part of the NEA’s announcement of its second round of 2014 grants, with nearly $75 million going to 971 arts nonprofits.