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AUTHORLINK FINANCIAL NEWS ARCHIVES, PAGE III

Perseus To Buy

Addison Wesley

In Early '98

12/97--Perseus Books plans to acquire the majority of Addison Wesley Longman properties during the first quarter of 1998. Terms of the forthcoming sale have not been disclosed.

AWL, currently owned by the international media group, Pearson, plc (OTC-Bulletin Board PRSNY), publishes business, health, science, psychology, parenting and general nonfiction titles. The unit releases about 65 titles per year and has a backlist of about 400 titles.

AWL's Peachpit Press, and Planet Dexter are not included in the sale. Peachpit remains part of AWL's computer and engineering group, and Planet Dexter will immediately be moved to Pearson's Penguin Putnam group.

Perseus most likely will not retain the AWL name, and is currently exploring alternatives. However, names of the newly-sold AWL imprints, including Helix Books and Advanced Books, will shift to the new owners.

Broadway Buys

Major Interest

In TV Books

12/97--Broadway Video, Inc., has purchased controlling interest in TV Books, L.L.C., which publishes nonfiction books based on popular TV shows and documentaries. Broadway is known for producing well-known television shows such as "Saturday Night Live."

Peter B. Kaufman, who founded TV Books, will head the unit as president and publisher. Albert Gottesmann, formerly of Jim Henson Productions, Inc., has been named Director of Rights and Business Affairs.

Sales and distribution for TV Books in the US and Canada will be handled exclusively by HarperCollins.

Reed Elsevier/Wolters

Merger Reviewed

By EC Commission

12/97-- The European Commission has questioned the proposed merger between Reed Elsevier and Wolters Kluwer NV for possible non-compliance with European Union merger rules.

The commission cites "significant overlaps" in the operation of both companies, specifically in the areas of legal and tax publishing; dictionaries; and consumer magazines.

The commission is expected to take several months to decide whether to impose certain restrictions before sanctioning the deal.

Viacom, TW

Close Theatre Sale

To WestStar

NEW YORK,NY/12/29/97--Viacom Inc. (Amex: VIA and VIAB) and Time Warner (NYSE: TWX) have completed the sale of their jointly-owned Cinamerica Theatres, L.P. to WestStar Holdings, Inc. A definitive agreement on the transaction was announced November 24.

Cinamerica includes 62 movie theaters with a total of 374 screens, primarily located in California and Colorado. The deal also includes Mann Theatres and the historic Hollywood landmark, Chinese Theatre. Viacom Inc. is one of the world's largest entertainment and publishing companies. Simon & Schuster is amogn its holdings. Time Warner Inc., the world's leading media and entertainment company, embraces entertainment, cable networks, publishing and cable.

Quebecor Makes

Changes In Top

Management

MONTREAL,CA/12/ 22.'97-- Quebecor Communications Inc. has appointed Erik Peladeau as Chairman, and Maurice Daigle as President and Chief Executive Officer.

Peladeau also will continue to serve as Chairman of Quebecor Multimedia Inc. Daigle previously served as executive vice president and chief executive officer of the company.

Serving on the board of directors Peladeau and Daigle will be Jean Neveu, President and Chief Executive Officer of Quebecor Inc. and Chairman of Quebecor Printing Inc., Isabelle Peladeau, vice president, Magazines of the company, Raymond Lemay, executive vice president of Quebecor Inc., Robert Pare, lawyer with the firm of Martineau Walker.

Quebecor Communications Inc., with about $439 million in sales, is a wholly owned subsidiary of Quebecor Inc. (ME and TSE: QBR.A, QBR.B; AMEX: PQB), a communications firm with 3,600 employees operating in the fields of publishing, distribution, multimedia, and television broadcasting. It publishes 4 daily newspapers, 57 community papers and 10 magazines. With interests in 6 book publishing firms, it also ranks as a major distributor of newspapers, magazines, and records. It is active, as well, in the retail sale of these products.

Simon & Schuster

To Feature New Authors

On Authorlink.com

An Online 'First'

NEW YORK, NY/ 12/97--Simon & Schuster Online has become a key sponsor of Authorlink! (http://www.authorlink.com), the online information service for writers, editors and literary agents.

One of the first major book publishers to partner with an online writers' service, Simon & Schuster will create a special section on the Authorlink's site to showcase new book releases, especially those by first-time authors.

Authorlink! kicked off the program's first phase in November, with a live link to Simon & Schuster's Consumer Publishing website (http://www.SimonSays.com). Authorlink! is also featuring the newly-released, revised edition of JOY OF COOKING through the holidays, to be followed by the special new author section.

The 18-month-old Authorlink! has a loyal annual readership of more than 60,000 writers, editors and agents. In addition to featuring major publishing industry news, the site showcases and markets ready- to- publish manuscripts to the publishing industry. The service is currently sponsoring its first International New Author Awards Competition, in which nine New York editors and agents are finalist judges.

Simon & Schuster Online was formed in January 1996, to create a strategy for Simon & Schuster's Consumer books and authors on the web. Simon & Schuster Online launched SimonSays.com, (http://www.SimonSays.com), in June 1996. The site, which provided an unparalleled level of reader interaction, is home to Simon & Schuster's 11,000+ Consumer titles and has successfully launched fan areas for many authors and brands including Star Trek Books, Mary Higgins Clark, Clive Cussler, Frank McCourt and most recently Joy of Cooking.

Simon & Schuster, the publishing operation of Viacom Inc., is the world's largest English-language publisher and one of the world's leading interactive publishers. Viacom Inc. is one of the world's largest entertainment and publishing companies.

Microsoft's 'OCA'

E-Zine Rates

Auhorlink! Tops

Authorlink! has been selected for listing in a database of "reviewed websites" in the Microsoft Network Internet Guide, called "One Click Away" (http://oneclick.msn.com).

OCA is an e-zine about the Internet and Net Culture which tells people what's happening on the Web. The site lists locations it considers useful, fun and valuable to MSN visitors. As a selected site, Authorlink! periodically will be re-reviewed by the OCA staff.

OCA rates Authorlink! among the top 25% of "very good" websites, from among the 40,000 sites it has visited. While the public does not have access to the entire resource list at once, OCA draws on links from the database for its weekly, daily and net culture columns.

To view OCA, visitors need a PC, Netscape 4+, IE3+ or IE4, Windows or NT, and some plug-ins, such as Macromedia Flash and Real Audio. An "OCA Light" page is also available for those with older browsers.

NY Attorney General

Investigates

Edit Ink, Ardvark

The Attorney General's Office of the State of New York is investigating the business practices of Edit Ink, an editorial service, and Ardvark Literary Agency, both located in the Buffalo, NY metropolitan area. Assistant Attorney General Dennis Rosen, in charge of the investigation, said he encourages anyone with information about either organization to contact him at: The Attorney General's Office, 107 Delaware Avenue, Buffalo, NY 14202 (716) 853-8417; fax (716) 853-8414.

Golden, Sony Join

To Produce Home

Videos, Audios

12/97--Golden Books Family Entertainment and Sony Wonder, division of Sony Music, have formed an alliance to produce, sell and distribute children's home video and audio/book products.

Both new and existing properties, such as "The Poky Little Puppy" and "Pat the Bunny" will be are included in the co-branding venture.

FCC Reduces

School, Library

Telecom Subsidy

WASHINGTON, DC/12/97--The nation's schools and libraries will lose access to about a half-billion dollars worth of special discounts they would have received from long-distance telecommunications providers during the first half of 1998.

Schools and libraries were due to receive discounts of $1.125 billion in the first half of the New Year, but the Federal Communications Commission has cut the amount by nearly 50%.

AT&T and MCI argued in favor of the cut, saying that if forced to provide full subsidies they would have to pass along additional cost to individual customers' phone bills.

The Federal Communications Commission, under the new direction of William Kennard, has said it will restore the full $1.125 billion subsidy during the second half of 1998.

Disney Co.

Anticipates

Active '98

LOS ANGELES, CA/12/97--Wall Street analysts are predicting double-digit growth for The Walt Disney Co. in 1998. The anticipated growth is based on the release of a series of major movies, opening of a new theme park, and several other new ventures.

The big-budget animated feature, "Mulan'' will be in theaters this summer. "Mulan" is the story of a young Chinese girl who disguises herself as a man and leads her country's troops to war.

The live action thriller ''Armageddon'' starring Bruce Willis and Billy Bob Thornton will also be released this summer.

Disney's Fall line-up includes the long-awaited sequel to 1996's popular ``Toy Story''. "`A Bug's Life'' portrays a young ant named ''Flick'' who tries to save his colony from greedy grasshoppers.

In April, Disney will open its new Animal Kingdom park at Walt Disney World in Florida. And in May the newly renovated Tomorrowland will open at Disneyland in Southern California.

Teens Like

Online Book

Shopping

NEW YORK, NY/12/97--Media Metrix, a New York-based online research firm, reports that Amazon.com was the second most popular Web-based shopping site among teenagers in October, 1997.

Amazon.com's overall audience reach rose from 1.4% to 5.9% between October 1996 and October 1997, the report said. Three music sites and one software library were also among the top five most popular sites among teens.

Saudi Arabia

To Host '98

Int'l Book Fair

The International Book Fair, including books, tapes and periodical literature, will be held September 9-18, 1998 in the convention Center at Dhahran, Saudi Arabia. The annual trade show for book publishers and educators is expected to attract about 22,000 visitors, and include more than 250 exhibits.

ALA To Hold

Annual Conclave

In Nation's Capital

The American Library Association will hold its annual conference in June, 1998 in Washington, DC About 12,000 visitors are expected to see more than 300 exhibits.

Mal Dunn

To Manage

Cowles Lists

CROTON FALLS, NY/12/'97--Cowles Creative Publishing, Minnetonka, MN, has awarded Mal Dunn Associates Inc., Croton Falls, NY, exclusive management of its bookbuyers' direct mail lists. The master file includes nearly 750,000 names, targeted at bookbuyers.

Cowles Creative is owned by DIRECT parent Cowles Business Media. Cowles publishes "how-to" specialty books for markets such as home arts, home improvement, outdoor/nature and food.

People

On The Move

In Publishing

TWO VIE TO HEAD ALA: Two candidates are vying for presidency of The American Library Association for the 1999-2000 term. Contenders are Martin Gomez, executive director of the Brooklyn Public Library, and Sarah Long, director of the 680-member North Suburban Library Systems (NSLS) in the Chicago area. Ballots will be sent to ALA members in March.

B&N FILLS TOP RANKS: Stephen Riggio has been named vice chairman, and J. Alan Kahn chief operating officer of Barnes & Noble, Inc. The changes were announced by Leonard Riggio, chairman. Stephen Riggio formerly COO and a 23-year veteran of B&N, will oversee publishing, mail order, distribution and Internet activities. Kahn, who joined B&N in 1969, will manage the company's retail operations.

DISTELHORST TO LEAVE NACS: Garis Distelhorst, executive director of the National Association of College Stores for 17 years, will leave in May '98 when his contract expires. The NACS board voted in December not to renew his contract.

CROWN TAPS NEW CEO: Richard B. Stone has been named the new CEO of Crown Books. Stone takes the helm at a time when the company has let losses of $25.6 million (third quarter ended November 1, 1997).

INQUIRER NAMES NEW EDITOR: Robert J. Rosenthal has been named editor of the Philadelphia Inquirer. He succeeds Maxwell E. P. King, who was due to leave Jan. 1 after seven years in that role. Rosenthal, 49, also becomes executive vice president of the paper's parent company, Philadelphia Newspapers Inc., which is owned by Knight-Ridder Inc. Rosenthal had served as the Inquirer's executive editor since January, '97. William Ward, an associate managing editor, was appointed executive editor to succeed Rosenthal.

B&N Expands

Relationship

With AOL

BarnesandNoble.com will pay American Online $40 million during the next four years to expand the bookseller's accessibility in a number of AOL's high-traffic areas, such as Entertainment Asylum, Electra, Real Fans, Love@AOL, and Digital City. The expanded strategies involve contextual integration of the two properties, allowing AOL members to locate book titles specifically related to the content of the channel they're using. BarnesandNoble.com has been AOL's exclusive bookseller since March.

B&N Makes

Exclusive Deal

with CBS Site

BarnesandNoble.com has become the exclusive online bookseller within the CBS MarketWatch financial website. The agreement between the two companies includes co-marketing and revenue and content sharing.

Doubleday

Unveils Seven

New Websites

Doubleday Direct, Inc. has launched seven new websites for its book club members. Visitors to each bookclub site can search Doubleday's entire listing of titles online and purchase books at a discount. Each of the seven book clubs focuses on a specific category of books, including mystery, science fiction, audio books, and entertainment titles. Crown Books

Reports Losses

For Quarter

12/97--Crown Books Corporation reported a net loss of $25,637,000 or $4.85 per share for the 13 weeks ended November 1, 1997. Net income for the same period last year was $110,000 or $.02 per share.

For the 39 weeks ended November 1, 1997 Crown Books posted a net loss of $32,474,000 or $6.14 per share compared to a net loss of $3,217,000 or $.60 per share for the same period last year.

Sales increased 3.8% to $65,676,000 for the 13 weeks ended November 1, 1997. Sales for comparable stores (stores open more than 13 months) decreased 6.1%. Comparable store sales for all superstores decreased 6.6%.

Publishing Company

of North America

Delays Directories

To Affect Bottom Line

LAKE HELEN, FL/12/23/97--The Publishing Company of North America, Inc. (NASDAQ: PCNA) has rescheduled release of at least four directories to January 1998

Peter S. Balise, Chairman, President and Chief Executive Officer of The Publishing Company of North America, Inc., said, "The directories being rescheduled to January 1998 will make an impact on our fourth quarter and fiscal 1997 results as these publications represent revenues between approximately $600,000 and $850,000.

"While we've been very successful in capturing market share within the bar association directory publishing market, our selling inefficiencies and lack of control over schedules, have adversely affected our ability to publish both timely and profitably. We are currently implementing new processes, which will be fully in effect by the end of March, 1998. We will be focusing on the profitability of each directory. While there are no guarantees that directories will not shift from one quarter to another, our goal is to make this the exception."

The Publishing Company of North America, Inc. is an integrated full service provider of specialty publishing for bar associations, colleges and universities, and other organizations, focusing principally on print directories and related products and services.

Regnery Considers

Buying Disputed

Kennedy Papers

WASHINGTON, DC/12/97--Regnery Publishing, Inc. is considering publishing controversial documents about the Kennedy family, which author Seymour M. Hersh omitted from his newly-published bestseller, "The Dark Side of Camelot."

Literary Agent Peter Miller of PMA Literary and Film Management, Inc., and lawyer Carl Person have presented the documents to Regnery Publisher Al Regnery and Executive Editor Richard Vigilante for consideration.

The package includes more than 700 pages written by the late Lawrence X. Cusack II, an attorney who reportedly performed secret assignments for the Kennedy family. The documents link JFK to mobsters and to Marilyn Monroe. Miller and Pearson represent Cusack's son, Lawrence X. Cusack III, who now owns the papers.

ABC's 20/20 and CBS's 60 Minutes have intimated that the documents are false. Cusack has filed a $100 million liable suit against several parties for making those claims.

A number of publishers have rejected the papers. But Regnery will investigate their authenticity, and base their decision to publish on the outcome.