Barnes & Noble
Publishing | As the fallout mounts from the revelation that former California Gov. Arnold Schwarzenegger fathered a child more than a decade ago with a member of his household staff, plans to revive the Terminator star’s acting career have been put on hold — a move that now extends to The Governator, the comics and animation project co-developed by Stan Lee. “In light of recent events,” representatives announced last night, “A Squared Entertainment, POW, Stan Lee Comics, and Archie Comics, have chosen to not go forward with The Governator project.” However, Entertainment Weekly notes the statement was revised two hours later, putting the project “on hold.”
Unveiled in late March, on the cover of Entertainment Weekly, no less, The Governator features a semi-fictional Schwarzenegger who, after leaving the governor’s office, decides to become a superhero — complete with a secret Arnold Cave under his Brentwood home that not even his family knows about. “We’re using all the personal elements of Arnold’s life,” Lee said at the time of the announcement. “We’re using his wife [Maria Shriver]. We’re using his kids. We’re using the fact that he used to be governor.” But even before the couple’s separation became public, producers had backed off depicting Shriver and their children. [TMZ, Entertainment Weekly]
Retailing | A judge on Friday approved a proposal to pay Borders Group executives up to $6.6 million in bonuses as the bookseller reorganizes under federal bankruptcy protection. The company had originally requested $8.3 million — that figure met with objections from the U.S. bankruptcy trustee — in a bid to retain key corporate personnel. Since Borders filed for bankruptcy on Feb. 16, 47 executives and director-level employees have left, leaving only 15 people in senior management positions.
The approved plan comes with conditions, tying some bonuses to the company’s ability to pay creditors and save $10 million over the next two years in leases on the remaining stores or in non-personnel cost reductions. [Businessweek, AnnArbor.com]
Publishing | Dark Horse CEO Mike Richardson talks more about the publisher’s recent layoffs, saying that some reports of the cutbacks were overblown: “We have 150 employees. We let seven people go across three different divisions. What is that 4%, 5%? Our staff was just getting too large. The real reason for the layoffs is that we get worried about the cost of doing business. We’re sitting there looking at the rising health insurance costs, the changes in the cost of doing business. We thought we were going to get some relief in the form of cover prices moving to $3.99, but I guess the market’s made a really strong statement on that price. Meanwhile we’re getting squeezed on paper and printing costs at the same time — and creators certainly don’t want to take any less money.” [ICv2.com]
Graphic novels | Metro, the graphic novel by Egyptian cartoonist Magdy El Shafee that was banned in 2009 under Hosni Mubarak’s regime, will be published in English next year by Metropolitan, a division of Macmillan. El Shafee who, along with his publisher Mohammed al Sharqawi was convicted of disturbing public morals, has appealed to Egypt’s new Ministry of Culture to have the ban lifted. “I’m waiting to hear if the minister of culture will allow it to be published again,” El Shafee says. “They will have to consult with the courts. I’m hoping there may be some kind of apology.” [CNN.com]
Legal | In an article that’s heavy on background and light on new information, Matthew Beloni reports that the attorney representing the heirs of Superman creators Jerry Siegel and Joe Shuster has asked the Ninth Circuit Court of Appeals to determine exactly what elements from the Man of Steel’s mythology his clients can reclaim as a result of the 2008 court ruling. [THR, Esq.]
Retailing | Barnes & Noble stock fell 16 cents following a report that bookstore chain, the largest in the United States, will likely end its months-long search for a buyer. Although the auction isn’t over, initial interest from at least seven potential buyers is said to have waned following the first round of bidding. [Bloomberg]
Following in the wake of the Borders Group’s worsening financial problems comes news this week that Barnes & Noble, the largest bookstore chain in the United States, has laid off much of its buying staff.
Although the company wouldn’t confirm the number, Publishers Weekly reports that about 45 to 50 jobs were eliminated. Among those fired were Robert Wietrak, vice president of merchandising, and Marcella Smith, director of small press and vendor relations. According to The New York Times, buyers responsible for cookbooks, reference books and mysteries were among those let go.
“We made a small number of organizational changes this week that are designed to better align our resources with our business,” a spokeswoman said. “Barnes & Noble is a growing company with both our revenues and new hires growing faster than they have in years.”
PW reports that publishers were shaken by news of the firings, “with the larger publishers wondering who would oversee merchandising, while smaller presses questioned who would be looking out for their interests.”
MobyLives offers commentary: “What possessed B&N to not only fire such important employees, but to do it in such a cynical (or is it desperate) bad-publicity-be-damned style?”
Retailing | As the financially troubled Borders Group met Tuesday with publishers in hopes of converting delayed payments into interest-bearing debt, the bookseller’s larger rival Barnes & Noble expressed concerns that could complicate negotiations. “We think the playing field should be even,” B&N spokeswoman Mary Ellen Keating said in a statement. “We expect publishers to offer same terms to all other booksellers, including Barnes & Noble and independent booksellers. We fully expect publisher’s will require Borders to pay their bills on the same basis upon which all other booksellers pay theirs. Any changes in publishers terms should be made available to all.” Meanwhile, Reuters considers what the closing of Borders’ 600 stores would mean to the book industry. [The New York Times, Publishers Weekly]
Publishing | Following its grim snapshot of year-to-date dollar sales in the direct market, ICv2.com has released a dreary analysis of the November charts: For the third time in 2010, the top-selling title failed to crack the 100,000-copy mark. Batman: The Return, priced at $4.99, sold about 99,500 copies, compared to the 144,000 sold by November 2009′s top title, Blackest Night #5. According to the retail news and analysis site, 20 of the Top 25 titles experienced a drop last month. As ICv2 noted last week in its initial report, dollar sales of comics were down 10.2 percent when compared with November 2009, while graphic novels jumped 14.84 percent, tied to the release of the 13th volume of The Walking Dead (it sold more than 19,000 copies). [ICv2.com]
Digital publishing | Google on Monday unveiled Google eBooks, a web-based e-book platform/digital storefront that boasts “the world’s largest selection of ebooks.” Dan Vado offers brief commentary. [TechCrunch]
Digital publishing | As expected, Barnes & Noble on Tuesday unveiled its Nook Color e-book reader, priced at $249. The 7-inch LCD touch tablet runs on the Android 2.1 operating system, and offers web browsing, audio and video playback, and basic games (CNET notes that Barnes & Noble is pushing the device as a “reader’s tablet”). The device ships on Nov. 19. [CNET, Salon, paidContent]
Internet | PayPal has announced its much-anticipated micropayments system, with Facebook and a number of other websites lining up behind it. PayPal describes the new product, available later this year, as an “in-context, frictionless payment solution that lets consumers pay for digital goods and content in as little as two clicks, without ever having to leave a publisher’s game, news, music, video or media site.” Scott McCloud is quick out of the gate with reaction: “This is so close, in almost every respect, to what we were asking for over a decade ago, it’s almost eerie. They’re even using the same language to describe it.” [TechCrunch]
Retailing | Barnes & Noble, the largest book chain in the United States, lost $63 million in the first quarter, a vast decline from a $12-million profit it reported for the same period a year ago. The retailer pinned about $10 million in losses on its costly fight with billionaire investor Ronald Burkle, and warned that a proxy battle could push the company even further into the red. [Reuters, ICv2.com]
Passings | Paprika director Satoshi Kon, who began his career as a manga artist before moving into anime in 1995, died Tuesday from pancreatic cancer. He was 46. Kon made his directorial debut in 1997 with Perfect Blue, and went on to helm such critically acclaimed anime features as Millennium Actress, Tokyo Godfathers and the aforementioned Paprika, as well as the television series Paranoia Agent. [Anime News Network]
Publishing | Kai-Ming Cha looks at initial efforts by manga publishers to provide digital content as legal alternatives to scanlations. [Publishers Weekly]
Comics | An anonymous family in the South was saved from foreclosure when, as they were packing up the home they had lived in since the 1950s, they discovered a copy of Action Comics #1 in the basement. The struggling couple contacted ComicConnect, which had brokered record-breaking sales of the June 1938 for $1 million in February and $1.5 million in March. The online auction company in turn convinced the bank to hold off on foreclosure. The couple’s copy of Action Comics has been graded Very Good/Fine, and is expected to bring upwards of $250,000 when it goes up for auction later this month. [ABC News]
Retailing | Barnes & Noble, the nation’s largest bookstore chain, put itself up for sale Tuesday as it struggles under economic pressures and the shift away from paper books. Company founder and chairman Leonard Riggio may form an investor group to buy the 720-store chain. [The Wall Street Journal]
Barry Windsor-Smith’s Weapon X for $2.99! Brubaker, Epting and Perkins’s The Death of Captain America for $2.99! Millar & Hitch’s Ultimates Vol. 1 for $1.99! And so much more, from 30 Days of Night to Megatokyo to Bacchus to The Little Man to Speed Racer for less than the cost of a $5 footlong — that’s what you can find listed among Barnes & Noble’s Bargain Graphic Novels right this very moment. Go, shop!
(Via Fred Van Lente)
Publishing | BusinessWeek looks at how companies like Marvel, Panelfly, ComiXology and Graphic.ly are promoting comics apps for Apple’s just-released iPad, and notes that a cautious DC Comics is still “assessing that tablet and other devices.” It’s a general overview, touching upon the “Is it a game-changer?” theme, but it offers one tidbit I don’t recall seeing previously: Apple takes 30 percent of sales, leaving publishers with — in the words of Panelfly’s Wade Slitkin — “the lion’s share” of revenues from comics purchased through iPhone apps.
The magazine also reports that Apple may have sold as many as 700,000 iPads in the debut weekend, more than double early estimates. In other iPad news: The Marvel Comics App, officially announced on Friday, is ranked at No. 14 on the list of free apps offered through Apple’s iTunes store. And on Saturday, IDW Publishing announced its entry into the iPad arena with four free apps. [BusinessWeek]
Legal | Bestselling Japanese author Manabu Miyazaki, son of a yakuza boss, last week sued police in Fukuoka prefecture for asking stores to remove underworld comics and magazines from their shelves. The police request was meant to enforce an ordinance designed to curtail the influence of the crime syndicates. [New Straits Times]
Considering that the first volume of Twilight: The Graphic Novel sold more than 66,000 copies in its first week of release — the largest-ever debut for a graphic novel in the United States — it’s no surprise it’s topping sales charts.
On Thursday, the Yen Press adaptation debuted at No. 6 on the USA Today bestseller list, which reflects sales of books in all categories at about 7,000 brick-and-mortar stores plus online retailers. And now this morning, Twilight topped The New York Times graphic book list, which employs some arcane formula that no one seems to understand.
Twilight: The Graphic Novel, adapted by Young Kim, was released on March 16 with a 350,000-copy first printing. Stephenie Meyer’s series of young-adult novels on which the comic is based has sold more than 53 million copies worldwide.
Business | Marvel CEO Isaac Perlmutter, who’s now worth about $1.6 billion thanks primarily to Disney’s purchase of the company, is among the 97 newcomers on Forbes magazine’s annual list of world billionaires. Perlmutter, who’s No. 616 out of 1,011 billionaires, netted nearly $900 million in cash from the deal and became Disney’s second-largest stockholder — behind fellow billionaire, and Apple co-founder, Steve Jobs (No. 136 on the list, with a worth of $5.5 billion). In September, the 67-year-old Perlmutter debuted at No. 230 on the magazine’s list of 400 richest Americans. [Money Control, The Hollywood Reporter]
Retailing | Barnes & Noble, the largest bookstore chain in the United States, reportedly has refused to carry the new graphic novel by Molly Crabapple and John Leavitt, labeling Scarlett Takes Manhattan as “too pornographic.” In a brief interview, Crabapple notes the book also has encountered problems with Diamond Comic Distributors, which initially listed Scarlett as “mature” before “plunking it into the much-worse-for-distribution ‘adult’ section.” [The Gloss]