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Viacom Expects
NEW YORK, NY/3/1/98--Viacom, Inc. expected to announce a buyer for its Simon & Schuster educational, professional and reference units sometime in the second quarter this year, a spokesman at Simon & Schuster has said. The offering, which does not include Simon & Schuster consumer units, was circulated early last month and is still in the initial stages. Among units expected to be sold are Simon & Schuster's Macmillan Publishing, USA, and Prentice Hall, both publishers of mainly business, professional and reference works. While Viacom is not yet officially commenting on the sale, a spokesman said there is "substantial interest from many companies." Rumored in the media as potential buyers are Pearson, Bertelsmann AG, Reed-Elsevier, and McGraw-Hill Company.
BDD's Loveswept
As BDD Top Brass ChangesNEW YORK, NY/3/1/98--Bantam Loveswept, a romance imprint of Bantam Books, will cease publication in late 1998 or early 1999. The rumor was confirmed by a spokesperson in the marketing department of parent company, Bantam, Doubleday, Dell Publishing Group, Inc. No details were available at press time, but will be reported by Authorlink! as they develop. The change coincided with shifts in top management at Bantam Doubleday Dell Publishing Group, Inc. Effective March 2, 1998, Jack Hoeft, BDD's chief executive since 1991, becomes chairman and chief executive of its international group, which includes units in the United Kingdom, Australia, and New Zealand. Erik Engstrom will oversee all publishing activities of BDD North America in the newly-created role of president and CEO. Engstrom had served as COO of of BDD since 1995. Arlene Friedman, who resigned as president and publisher of Doubleday, will be replaced by Stephen Rubin, London-based chairman of BDD International. Bantam Loveswept publishes about four romance titles per month. A second romance imprint, Bantam Fanfare, turns out about two titles per month. Bantam Books is a division of Bantam Doubleday Dell Publishing Group, which in turn is owned by the German-based communications conglomerate, Bertelsmann Publishing Group International.
Cinar Films Mounts
MONTREAL, 2/19/98-- CINAR Films Inc. (Nasdaq: CINRF; Toronto and Montreal: CIF.A, CIF.B) has launched an unprecedented production schedule, calling for more than 340 half-hour episodes for 1998-1999. The roster includes 17 television series, many continuing from 1997, and two Family Films. The total production commitment exceeds C$125 million, nearly double last year's budget of C$63 million. The Montreal-based producer and distributor of children's and family television programming increased its film library by 192 half-hour episodes in 1997, bringing the library to a total of 1,174 half-hours. With 340 additional half-hour episodes scheduled for delivery by 1998-1999, CINAR library should surpass 1,500 half-hours of original programming by the next millennium. "This is our biggest production slate ever because so many of our series are continuing to be successful year after year, creating demand for more episodes," commented Ronald A. Weinberg, President of CINAR. In 1998-1999, CINAR will produce 12 animated series, nine of them continuing from previous years, for a total of 222 half-hour episodes. CINAR Films Inc. is an integrated entertainment company involved in the development, production, post-production and worldwide distribution of non-violent, quality programming and educational products for children and families. CINAR's original series include: Wimzie's House on PBS, The Busy World of Richard Scarry on Nickelodeon, as well as mini-series and Family Films which are seen in the United States, Canada and in over 120 other countries around the world. CINAR's website: http://www.cinar.com
LucasFilm Ltd.,
Random House Children's Publishing has acquired rights from LucasFilm Ltd. to publish a series of children's books based on both future and past "Star Wars" movies. Among the first book titles to be released by Random House will be those based on three forthcoming "Star Wars" films. Authorlink! reported earlier that LucastFilm also has signed an agreement with Scholastic, Inc. to publish a broad line of children's books also based on "Star Wars" films. In January, Scholastic made a similar deal with Warner Bros. to transform Warner movies and TV properties into children's books.
Paramount Increases
INDIANAPOLIS, IND, 2/26/98--Paramount Stations Group (PSG) has acquired WNDY-TV of Indianapolis, adding a station in a top-25, high potential market and taking one more step in its long-term program to increase penetration in the nations' top 50 markets. The acquisition increases PSG's lineup to 17 stations and its reach to 23.8% of the country. The group last year acquired several other big market stations, including units in Seattle, Tampa, Sacramento, Columbus, Norfolk and New Orleans.
New Magazine
IRVINE, CA/2/23/98-- CME, Inc. has launched a new publication targeted to primary care physicians. Called, Medicine & Behavior, the magazine will focus on stress-related, behavioral, neurological and brain-based mental disorders. Medicine & Behavior will cater to the special needs of busy primary care physicians who treat many patients with mental and neurological disorders. The magazine complements CME's existing publications: Psychiatric Times, The Bipolar Disorders Letter, and Mental Health Economics. Every issue of Medicine & Behavior will feature columns, special reports and articles, written by leading authorities in the medical field. Typical columns will cover Alzheimer's Disease, Migraines, Pharmaceutical Updates, Washington Report, Managed Care and Medical Risk Management. The new periodical also will provide the latest clinical news pertinent to primary care physicians. As an added bonus, Medicine & Behavior offers readers a new, fully accredited Category 1 CME article with each issue, covering topics such as agitation & psychosis; Alzheimer's & dementias; depression and anxiety; hypertension and heart disease; migraine and headache; smoking and substance abuse; stroke and neurological disorders, and women's health. Medicine & Behavior will be distributed initially to 40,000 readers who will include internists, family practitioners, general practitioners, neurologists, OB/GYNs, primary care osteopaths, consultant pharmacists, prescribing nurses, HMO medical directors and long-term care medical directors. In addition, Medicine & Behavior is on the World Wide Web at http://www.medicineandbehavior.com, where physicians can find M&B articles, links to other resources and practice opportunities. Editor-in-Chief will be John L. Schwartz, M.D. CME, Inc., founded in 1978, is a medical education and healthcare information firm, providing useful, high-quality clinical information to psychiatrists, primary care physicians, other healthcare professionals, and consumers. CME, Inc. also produces the Mental Health InfoSource Website (http://www.mhsource.com), which currently receives more than 1,200,000 hits per month, making it the most successful mental health site on the Internet.
D Magazine
DALLAS, TX, 2/19/98-- D Magazine this Spring will publish two new supplements focusing on community diversity, titled The New Dallas, and D Heritage. THE NEW DALLAS -- Making A Modern Metropolis, will be released in May. The publication will be a detailed report on future city developments such as the Arts District, and how they will affect the city. The New Dallas will appear in every copy of D Magazine and also will be mailed to everyone who voted on the city's sports arena proposal, giving The New Dallas a total distribution of 180,000. D HERITAGE -- Celebrating the Diversity that Enriches Our Community, will debut in June. The supplement will feature the black leaders in art, business, education, music, medicine and sports who have had a profound impact on Dallas and changed the community for the better. The publication will be distributed as part of D Magazine (60,000 copies) and also will be mailed to citizens throughout the region.
Writers Club
The Writers Club at America On Line has announced the expansion of its services beyond AOL, via a new site called Writers Club Ltd. (http://www.writersclub.com). The site officially will launch in April. Writers Club will maintain a dual presence both on AOL and on its own site. On the new separate site, some services will be free while other specialized areas will be accessible only by members who pay an annual fee. Charter memberships were sold to existing AOL members at a 50% discount. Migration to the Writers Club's own site will enable the company to provide their services to a global audience, in addition to AOL. Writers Club Ltd., headquartered in Falls Church, Virginia, is headed by Bradley Kirkland, chairman and CEO. The group recently attracted additional capital from investor John Kelly, former owner of Datametrics Systems Corp which last year was sold to Zitel. The eight-member staff of Writers Club Ltd. includes George Molaski, president; Tracey Bissell, executive vice president; Carolyn Permentier, vice president marketing; Barbara Holmes, vice president, member services; Kim Tedrow, director of web services, and Steve Morrill, dean of the Writers Club University. Site design is by Kevin Meyers, chief technical officer. Writers Club can be reached on AOL by using keyword: writers, or on the web at http://www.writersclub.com.
American Booksellers
The American Booksellers Association (ABA) has selected five finalists in each of two categories (adult and children's ) to vie for its 1998 American Booksellers Book of the Year (ABBY) Award. Nominations by ABA member bookstores were selected as the titles they most enjoyed selling during the past year. Booksellers will vote on the winners this spring, via mail-in baloots. The winner in each category will receive a $5,000 cash prize to be presented at the BookExpo America (BEA) trade show (May 30-June 1) in Chicago. Adult nominees are:
Children's nominees are:
LA Times
LOS ANGELES,CA/2/24/98-- Winners of the 1997 Los Angeles Times Book Prizes have been announced by Kenneth Turan, director of the Los Angeles Times Book Prize program. The Book Prizes, which were first awarded in 1980, are presented annually in eight categories. Winning authors will be honored at an awards ceremony at the Los Angeles Times on Friday, April 24, hosted by Michael Parks, The Times' editor and executive vice president, and Turan. Each book prize includes a citation and a $1000 cash award. The 1997 Book Prize winners are:
The winner of the Robert Kirsch Award will be announced at the April 24 Book Prize awards ceremony. This award is present each year to a living author who resided in the West or whose work focuses on the region and whose contribution to American letters deserves recognition. The Kirsch Award is named after The Times' late book critic, who died in 1980 following a 25-year career as a novelist, editor and teacher as well as one of the nation's foremost reviewers. The 1997 Book Prize finalists are:
The Los Angeles Times annual Book Prize program is one of several efforts by the newspaper to celebrate the written word and promote literacy: The third annual Festival of Books, which will be held April 25 and 26 at UCLA's Dickson Plaza, is expected to draw more than 100,000 Southern Californians from all backgrounds to its author panels, book signings, children's activities and more than 300 exhibitors selling books and book-related material. For additional details see The Los Angeles Times
Writer's Guild
The Writers Guild of America (WGA) celebrated its 50th anniversary by going global! Video highlights of the annual WGA awards ceremony honoring writers in motion picture and television screen writing were simultaneously satellited by NATSAT to the TV news media worldwide and video streamed on the World Wide Web at http://www.wga.org in late February. Highlights included celebrity arrivals and soundbites with those attending including Brad Pitt (presenting the WGA's Screen Laurel Award), Peter Fonda ("Ulee's Gold"), Greg Kinnear ("As Good As It Gets"), Gloria Stuart ("Titanic"), Kathy Najimy ("Veronica's Closet"), Gwyneth Paltrow ("Great Expectations"), Ben Affleck & Matt Damon ("Good Will Hunting"). Also included was coverage of the motion picture awards ceremony and soundbites with the winners. The ceremony was held in the grand ballroom of the Beverly Hilton. Video streaming will remain archived on both the WGA (http://www.wga.com) and NATSAT's (http://www.natsatinc.com) web sites for 30 days following the live event.
One Hundred + Authorlink!
DALLAS, TX/ 3/15/98--Literary agents and editors are eagerly surfing Authorlink! in search of good writers. In the 19 months since tracking began, more than 350 writers are listed; 400+ requests have been made for manuscripts, more than 100 Authorlink! writers have been offered contracts with agents, four works have been sold, and several more sales are pending. About 65-70% of the listed writers have received requests by editors and agents, some receiving mutliple requests. Of those who have received interest, about 30-35% are signed with agents and 2% have directly sold their works to publishers during this brief time. The site, which matches literary agents and editors with writers, has received praise from editors at Avon, Berkley, Random House, Time-Warner, Bantam Doubleday Dell and other major publishers. See "What People Are Saying About Authorlink!"
Authorlink! Names
Finalists in the Authorlink! 1998 International New Author Awards Competition have been named in five fiction and two nonfiction categories. Winners will be announced April 15, 1998. Best of Show winner will be a guest in Dallas/ Fort Worth May 2 for the ELECTRIFY YOUR WRITING seminar, where Berkley Senior Editor Thomas J. Colgan (Tom Clancy's paperback editor), and other noted editors and agents will be guests. Nearly 200 entries were received during the first annual event, from almost every state in the US and several foreign countries. Finalists included writers from York York to California and numerous points between, as well as from Alaska. Entries in some nonfiction categories were grouped into two categories instead of five, due to a limited number of submissions in a few categories. FICTION FINALISTS Mainstream
Suspense/Mystery/Thriller
Romance
Western/Historical
Science Fiction/Fantasy/Horror
NON-FICTION FINALISTS General
Biography
Finals entries are now being judged by a panel of distinguished editors and agents, including: Final selections will be judged by recognized editors and literary agents, including:
Bertelsmann AG has launched an online bookstore similar toAmazon.com. The site, called Boulevard Online (http:/www.boulevard.de) will feature a database of 290,000 books searchable by category, author, title, keyword, ISBN, and publisher. Bertelsmann, parent company to Bantam Doubleday Dell, in the US, will sell only German language books on the site. The service will feature reviews, recommendations and bestseller lists, along with live chats
Audio Book
The Audio Book Club, Inc. has attained a record high of 300,000 members. The club, first of its kind to specialize in audio books, has grown from 200,000 members last May to the new high this year.
Nebraska Textbook
Nebraska Book Company, Inc., North America's leading wholesale supplier of used textbooks to independent and institutional college bookstores has been purchased by Haas Wheat & Partners, Inc. for $245 million. The company sells more than 7 million new and used books annually to some 2000 college campuses nationwide The company was acquired from Olympus Partners, a private investment firm.
CBS.Marketwatch.com
SAN MATEO, CA, 2/23/98 -- CBS.MarketWatch.com, a leading Internet site for individual investors, has launched a financial news radio service called "Internet Daily." The twice-a-day program reports on news of the Internet over the CBS Radio Network. Veteran broadcast and Internet newsman Frank Barnako anchors the show. It is an extension of a column he writes for the CBS.MarketWatch.com web site. "This is the first of several broadcast products we are developing for CBS," said Larry Kramer, President and CEO of CBS.MarketWatch.com. "It is a natural extension of the strong real-time financial reporting and research we have done on the Internet up to this point. The Internet itself is a huge business story right now, and our extensive coverage of that story makes it a perfect starter for our broadcast coverage. We expect to bring our extensive Internet-based coverage of other business and financial stories to the radio and television audiences of CBS." "Financial news is more important now than ever before and greatly affects our millions of listeners. That's why we are so delighted with our new relationship with CBS Marketwatch," said Harvey Nagler, CBS News Vice President for Radio. "There is no doubt in my mind that Marketwatch will become an important value added element for our 600 affiliated stations." CBS.MarketWatch.com has reporters, editors and correspondents in bureaus in New York City, San Francisco, Los Angeles, Washington and London, under the direction of Editor-in-Chief Thom Calandra. Besides providing extensive stock prices, historical data, research and real-time coverage of market news for its Internet audience, CBS.MarketWatch.com staffers also provide reporting and research help to CBS News. The new service is an equal partner joint venture between CBS (NYSE: CBS) and Data Broadcasting Corporation (Nasdaq: DBCC). It delivers business news and real-time financial data and analysis. CBS MarketWatch is located at http://cbs.marketwatch.com.
UOL Publishing,
MCLEAN, VA, 2/18/98-- UOL Publishing, Inc. (Nasdaq: UOLP) has agreed with The University of Texas System to develop a virtual campus and provide courseware to deliver web based distant learning courses. Under the agreement UOL will create an interactive virtual campus [UT Telecampus] to serve 15 universities within the University of Texas System. The UT Telecampus will enable students to access those services that are typically found on a traditional college campus. Included will be a series of courseware authoring tools that will allow UT System staff and faculty to create, construct and "self publish" online, interactive courses. The UT System is one of the largest and most prestigious university systems in the world. This may be the first agreement for the creation of a virtual learning environment of this magnitude. UOL Publishing is a publisher of interactive and on-demand Web-based courseware for the corporate education and academic markets. UOL acquires, converts and develops course content for online delivery over the Internet and corporate intranets worldwide.
Amazon.com
SEATTLE, WA, 2/18/98 -- The leading online bookseller, Amazon.com (Nasdaq: AMZN), has more than doubled membership in its Associates Program during the past six months. The company now has more than 30,000 member Web sites. Amazon.com pioneered the concept of syndicated selling in July 1996 and has multi-year exclusive or premier associate relationships with five of the top six sites on the World Wide Web, AOL.com, Yahoo!, Netscape, GeoCites, and Excite. The Associates Program allows individual Web sites to select books of interest to their visitors, add their own reviews and recommendations, and link directly to the Amazon.com catalog. Amazon.com handles the secure online ordering, customer service, and shipping, and sends weekly, automatically generated sales reports via e-mail. Participation in the program is free. Members in Amazon.com's Associates Program earn up to 15 percent of sales for recommending books from their Web sites. Amazon.com is headquartered at 1516 Second Avenue, Seattle, WA 98101. Internet address: http://www.amazon.com.
Fox To Release
BEVERLY HILLS, CA./2/19/98-- Twentieth Century Fox Home Entertainment (TCFHE) has licensd Digital Video Express, LP (Divx) to release FOX feature film and video products on Digital Versatile Discs (DVD). Plans call for new video titles to be made available on Divx discs concurrent with their VHS rental and major promotion sell-through release. A selection of catalog products also will be made available on Divx. Twentieth Century Fox has joined four other motion picture studios in supporting the Divx system, an enhanced DVD model that provides greater consumer convenience and flexibility, digital-quality picture and sound, and increased anti-piracy protections. "We believe that Divx is a great proposition for the growing number of consumers entering the digital video marketplace," noted Pat Wyatt, acting head of Twentieth Century Fox Home Entertainment. "Given the significant anti-copy safeguards that Divx offers, we feel our film assets will be sufficiently protected to allow for their day and date release with VHS." "Fox's support of Divx is terrific news for at-home video audiences as it expands the number of titles available on a digital disc," said Richard L. Sharp, chairman and chief executive officer, Divx. "Beginning later this year, the remarkable dramas, comedies and action films that movie lovers have come to expect from Twentieth Century Fox will be available in a high-quality, convenient digital format." The Divx system enables consumers to purchase a special, encrypted movie disc that contains a two-day viewing period. The 48-hour viewing window begins, not when the consumer leaves the store, but only after he or she inserts the disc into the Divx player and presses play, either on the day of purchase, the following week or months away. Because the disc never has to be returned, there are never any late fees, and additional viewing periods can easily be purchased through the player. Divx-equipped players will play all basic DVD discs, but the lower-cost Divx discs cannot be played on basic DVD players. Other studios with long-term agreements with Divx include Disney, Paramount, Universal and DreamWorks. Twentieth Century Fox Home Entertainment is a subsidiary of Twentieth Century Fox Film Corporation, a News Corporation company. Recognized as an innovative global industry leader, Twentieth Century Fox Home Entertainment is the marketing, sales and distribution company for all FoxVideo and Fox Interactive products. Visit Twentieth Century Fox Home Entertainment on the Internet at http://www.foxhome.com. Digital Video Express, LP is a partnership of Richmond-based Circuit City Stores, Inc. (NYSE:CC, KMX), the nation's leading consumer electronics retailer, and a prominent Los Angeles entertainment law firm.
People
HC TAPS NEW EDITORIAL DIRECTOR: Robert O. Warren, has been named new editorial director at HarperCollins Children's Books. He has been with the company since 1978 in various capacities. MURPHY NAMED DISNEY'S SR. VP: Steven Murphy has been named senior vice president of The Walt Disney Publishing Company He will oversee Disney Children's Book Group, Hyperion, Licensed Publishing and Creative Development, and several Disney magazines. Murphy joins Disney after having served as president of EMI's Angel Records. HC NAMES EXEC EDITOR: David Hirshey has joined HarperCollins Publishers as executive editor of the Adult Trade Division. He formerly served as editor at Esquire magazine. Hirshey will acquire nonfiction titles, ranging from celebrity and popular culture books to politics, and current affairs. KOCH TO MARKET TIME: Jeremy Koch has been named senior vice president and head of consumer marketing at Time Inc. Koch, 44, succeeds John Squires, who was named president of Entertainment Weekly. Koch most recently has been vice president of People magazine. As head of Consumer Marketing, Koch will run the magazine division's direct marketing activities -- including promotion, consumer research, multi- title marketing and media buying. . CLEARVIEW CINEMA NAMES TWO EXECS: Clearview Cinema Group, Inc. (Amex: CLV) has announced two new executive appointments. Paul Kay has been promoted to the newly created position of Senior Vice President - Operations. Kay, 58, previously was Vice President - Operations. Craig Zeltner has been appointed to the newly-created position of Vice President - Film. In this capacity, Zeltner, 47, will function as the theater circuit's principal film booker and buyer and report to the President. Zeltner will also serve as President of the Company's new Cinema Services Division. The unit will provide film buying services to independent theater operators. Prior to joining Clearview, Zeltner was the President of Cinema Services, Inc. an independent film buying service. Clearview Cinema Group, Inc. is a consolidator and operator of community-based movie theaters, primarily in affluent suburban communities in the New York/New Jersey metropolitan area. The Company currently operates 158 screens and has announced plans to develop more than 50 additional screens WARNER BROS. RESTRUCTURES: In a restructuring of Warner Bros.' Theatrical Marketing Research department, Dan Rosen has been promoted to senior vice president, Warner Bros. Marketing Research, Theatrical Films, and Richard Del Belso has become senior vice president, Marketing Strategy-Domestic and International Films. HARTE-HANKS GETS COO: Richard M. Hochhauser has been promoted to the newly created position of chief operating officer of Harte- Hanks Communications, Inc. (NYSE: HHS). He will continue to serve as president and chief executive officer of the company's direct marketing business, a post he has held for the past 10 years, and as executive vice president of Harte-Hanks. He has been a Harte-Hanks corporate officer since 1980. Based in San Antonio, Texas, Harte-Hanks Communications owns and operates an international direct marketing company that provides a full range of specialized, coordinated and integrated direct marketing services including response management/teleservices, database marketing and marketing services. The company also owns and operates shoppers , zoned into more than 750 separate editions reaching over 9 million households in five states each week. NY TIMES NOMINATES DIRECTORS: The board of directors of The New York Times Company (NYSE: NYT) has nominated Brenda C. Barnes, formerly president and CEO of Pepsi-Cola North America, and Ellen R. Marram, president and CEO of Tropicana Beverage Group and executive vice president of The Seagram Company Ltd., to stand for election as directors at its Annual Meeting of Shareholders on April 16. Two current directors, Ruth S. Holmberg and George B. Monroe, are retiring. The New York Times Company is a diversified media company including newspapers, magazines, television and radio stations, and electronic information and publishing. There are 15 members on the Board.
Viacom Posts
NEW YORK, NY, 2/26/98--Viacom Inc. (AMEX:VIA and VIAB) announced higher revenues; higher earnings before interest, taxes, depreciation and amortization (EBITDA); and higher operating income for the fourth quarter of 1997. The company experienced double-digit cash flow growth at Simon & Schuster, MTV Networks, and Showtime Networks. Viacom also reported a sharp increase in net earnings per share from continuing operations for the quarter. For the fourth quarter ended December 31, 1997, Viacom reported revenues of $3.61 billion, EBITDA of $510 million and operating income of $274 million, compared with revenues of $3.41 billion, EBITDA of $478 million and operating income of $250 million in the fourth quarter of 1996. Net earnings from continuing operations in the fourth quarter of 1997 totaled $597 million, or $1.65 per basic and $1.60 per diluted common share, versus net earnings from continuing operations of $17 million, or $.01 per basic and diluted common share for the same year-pearior period. The figures reflect a gain in the sale of Viacom's 50% interest in USA Networks in the quarter. For the quarter, publsihign reveneus increased 6% to $678 million and EBITDA increased 18% to $117 million, driven by strong sales from International, Macmillan Publishing USA, Higher Education and Consumer. Results principally reflect strong computer publishing and electronic product sales, Higher Education market share growth and higher sales in the Cosnumer Group, including such bestsellers as the revised Joy of Cooking, Andrew Morton's Diana: Her True Story, The Commemorative Edition and Mary Higgins Clark's My Gal Sunday. For the year, Publishing revneues increased 6% to $2.47 billion and EBITDA increasd 5% to $385 million, paced by strong sales form International, Macmillan Publishing USA and record sales for the Higher Education Group.
NY Times
NEW YORK, NY, 2/19/98-- The New York Times Company (NYSE: NYT) has declared a regular quarterly dividend of $.17 per share on its Class A and Class B common stock. The dividend is payable on March 20, 1998, to shareholders of record on March 3, 1998. This is the 117th consecutive quarterly dividend paid on the Company's common stock since the Company went public in 1969. The New York Times Company is a diversified media company including newspapers, magazines, television and radio stations, and electronic information and publishing. The Company's core purpose is to enhance society by creating, collecting and distributing high-quality news, information and entertainment. The Company, which had 1997 revenues of $2.9 billion, publishes The New York Times, The Boston Globe and 21 regional newspapers; publishes three magazines, including Golf Digest; and operates eight network-affiliated television stations and two New York City radio stations. It also operates news, photo and graphic services as well as news and feature syndicates, and conducts several ventures in electronic publishing and new media.
Harcourt Posts
Harcourt General, Inc.has attributed a reported loss in the first quarter of fiscal 1998 to an anticipated seasonal loss in educational publishing operations. For the three months ended January 31, 1998, the company reported income of $900.6 million, up 17.2% from $768.7 million in the same period last year. Operating earnings in the quarter declined 17.7% to $26.6 million, from $32.3 million in the year-ago quarter. The losses were due to previously announced amortization expenses associated with the June, 1997 acquisition of National Education Corporation (NEC), and to sharply higher net interest expense, and recognition of minority interest in earnings of its specialty retailing operations.
USA Networks
NEW YORK, NY/2/23/98-- The board of directors of USA Networks, Inc. (Nasdaq: USAI) has approved a two-for-one stock split. Shareholders will receive one share of USAI common stock for each share of USAI common stock outstanding as of March 12, 1998, to be paid March 26, 1998. The two-for-one stock split will also include an identical stock dividend of the Company's Class B Common Stock, to be paid in the form of one share of Class B Common Stock for each outstanding Class B share as of March 12, 1998. USAI shareholders as of the record date do not need to take any action in connection with the stock dividend. Shareholders will receive a communication from the company about the dividend shortly after the record date. USA Networks, Inc. is a diversified media and electronic commerce company with assets including: the USA Network; the Sci-Fi Channel; USA Networks Studios, which consists of first-run production & distribution, TV movies & mini-series and network production & development; USA Broadcasting, which includes the USA Station Group and SF Broadcasting; Home Shopping Network and the Internet Shopping Network. The company also owns a controlling interest in Ticketmaster Group, Inc.
Genesis Group
CULVER CITY, CA, 2/20/98---Genesis Group Inc./Hollywood Television Network Inc. (HSTV) has changed its name and trading symbol. The new corporation name is GENESIS MEDIA GROUP, INC., and its new trading symbol will be OTC Bulletin Board: GNNX. The company has also added two new websites for corporation information, news and updates: http://www.Genesisent.com For Corporate Technical Information: http://www.GNNX.com SOURCE Genesis Group Inc.
CINAR Posts
MONTREAL, 2/20/98-- CINAR Films Inc. (Nasdaq: CINRF; Toronto and Montreal Exchanges: CIF.A, CIF.B) has reported financial results for the fourth quarter and year ended November 30, 1997 (all amounts are in Canadian dollars). For the year ended November 30, 1997, revenues increased 62% to $93.7 million from $57.9 million in the previous year. Gross profit increased 99% to $30.8 million from $15.5 million in 1996. Net earnings for fiscal 1997 increased 52% to $12.9 million compared with $8.5 million for fiscal 1996. Earnings per share increased 23% to $0.96 from $0.78, despite an increase in the weighted average number of shares outstanding for the year from 10,912,000 to 13,369,000, as a result of the public issue of 3,050,000 Subordinate Voting Shares completed on September 29, 1997. Revenues for the fourth quarter 1997 increased 83% to $38.5 million from $21.1 million during the same period in 1996. Gross profit increased 127% to $14.4 million from $6.3 million in 1996. Net earnings for the quarter increased 34% to $5.4 million, compared with $4.0 million. Earnings per share increased to $0.35 from $0.32, despite an increase in the weighted average number of shares outstanding for the quarter from 12,387,000 to 15,440,000, relating to the public share issue. Cash flow from operations in fiscal 1997 increased 61% to $18.8 million from $11.7 million in 1996. Working capital and shareholders' equity were $232 million and $299 million respectively, as of November 30, 1997, compared to $95 million and $124 million in the previous year. During fiscal 1997, CINAR delivered 192 half-hours of original programming. CINAR's library contains 66 original titles comprising 1,174 half-hours of programming. "We have announced our most ambitious production slate ever for 1998-1999 with over 340 half-hours and a production budget commitment in excess of C$125 million. In addition, CINAR is also expanding its education products with the introduction of WIMZIE's HOUSE(tm) and The Busy World of Richard Scarry(tm) into the classroom and over 150 new products from Carson-Dellosa," commented Ronald A. Weinberg, President of CINAR. CINAR Films Inc. is an integrated entertainment company involved in the development, production, post-production and worldwide distribution of non- violent, quality programming and education products for children and families.
Oppenheimer
NEW YORK, NY, 3/1/98--Jerry Oppenheimer, author of the successful "Martha Stewart: Just Desserts: The Unauthorized Biography," has left publisher Morrow to sign with Pocket Books. Pocket reportedly has offered Oppenheimer a mid-six-figure advance for a new biography about John F. Kennedy Jr. Pocket senior editor Mitchell Ivers negotiated the deal with agent Joni Evans. A fall 1999 release is planned.
Sierra Vista
BEVERLY HILLS, CA, 2/23/98--Sierra Vista Entertainment, Inc., a division of InnovaCom, Inc., (OTC/BB: MPEG) and Phase I Productions, LLC, will co-produce "Kid Genius," a feature film based on an original screenplay by playwright Joseph James Guzzo. "Kid Genius" centers around a young genius who sets out to save his school from a tyrannical principal, but who risks his anonymity by plotting a series of brilliant and hilarious pranks designed to save the day. Joe Wizan and Don Schneider will produce with Sierra Vista's Simone Anderson, who said: "Sierra Vista will handle the financing of the production, and we are delighted to have producers of Joe and Don's stature associated with this exciting new independent motion picture." Sierra Vista Entertainment, Inc., a division of high-tech leader InnovaCom, was founded last year to finance and produce a select number of independent features annually and to lend creative support to its parent company in development of digital and DVD technologies for both film and video applications. Wizan, former president of production at 20th Century Fox and head of production at CBS theatrical films, has been the producer and/or executive producer of more than 31 feature films including this season's suspense thriller "Kiss The Girls," starring Morgan J. Freeman and Ashley Judd. Schneider has an extensive theatrical and music background, having produced a number of off-Broadway plays under the aegis of Edgar Lansbury Productions. He founded Grindstone Records and co-founded Immortal Records and Publishing.
Pocket Sets
Pocket Books will release a paperback version of "The Millionaire Next Door," by Thomas J. Stanley and co-author William D. Danko. this September. Pocket reportedly paid $1.3 million for paperback rights. The book, originally published by Longstreet Press has sold 900,000 copies. Longstreet, together with co-publisher Andrews McMeel, will release a follow-up book, "The Millionaire Mind" in the fall of 1999.
Eric Winkler Sells
Eric Winkler signed with a literary agent and sold his first manuscript, Partnership Marketing, to Greenwood Publishing, all within only five months. How did he do that? Through Authorlink! "At first, I made the mistake that first-time authors make of trying to pitch my manuscript directly to publishing houses. While searching the internet for publishers, I ran across Authorlink!" Eric explained. "Rather than try and learn the book publishing industry overnight, I thought I'd "borrow some experience" from Authorlink! and I couldn't be more pleased with the results." Authorlink! asked Eric if he were skeptical of the service at first, and why? "I have to admit I was skeptical at first. There are so many mine fields on the internet that I worry about paying for any service offered on the 'net. I was impressed by the list of authors on the site and by the current publishing industry news. It seemed like a gamble worth taking and I'm very pleased with the connections Authorlink made for me." Eric had searched for several months and had a number of dead-end conversations with publishers. He made the mistake of thinking he didn't need an agent. "Looking back, it was a little like thinking I could do my own dental work with a few lessons," he commented. Eric said he was surprised how fast Authorlink! produced results for him. It took less than a month for him to sign with agent, Elisabet McHugh through Authorlink! He agreed to partner with her in October. By December, 97 he had received his first serious offer from a publisher. Then, in February, 98, only five months after Authorlink! connected him with an agent, he sold his first book. Asked if he had any advice for other first-time authors, Eric advised: "Don't be afraid to admit what you don't know. Do you need Authorlink!? Yes. You can't possibly expect to learn the publishing industry overnight, so let Authorlink! lend you their contacts and their expertise. "I don't know about other writers, but I asked myself over and over whether or not I needed an agent. I did. My agent helped me focus my work and helped crystallize the vision for my project. Unless you are fortunate enough to be a publisher writing about the publishing industry, you need an agent to help you navigate this complicated business." Eric Winkler said he had "nothing but praise" for Authorlink! "This service sets realistic expectations and then exceeds them. I consider myself fortunate to have found Authorlink! and even more fortunate that my agent found me through Authorlink! This is a service I'd recommend to any first time author."
Roland Jansen Finds
Roland Jansen has just sold his first book to John Wiley & Sons as a direct result of having secured agent Elisabet McHugh through Authorlink! Unnatural Profits from Natural Resources: How to Make Big Profits, Globally, From Oil, Gas, Grains and Metals will be released by John Wiley & Sons in August, 1998. Dutch-born Jansen, director of fund management for the oldest bank in Liechtenstein, wrote the book in German in September 1996 and originally titled it, The Coming Squeeze in Natural Resources. A friend who review it told him his German was "hopeless" and suggested he write it in English. He did. In January, 1997 he began surfing the Internet to find information on publishers and came across Authorlink! "I thought Authorlink! was a great idea for an aspiring writer living in a remote area and with no contacts in the publishing world. My book was accepted for listing on the service and after only two months, in March, 1997, Authorlink! Editor Doris Booth informed me that literary agent Elisabet McHugh was interested in reading the full manuscript. After receiving valuable background information from Doris about the agent, I signed with Ms. McHugh on April 3." In the following six months, Ms. McHugh encouraged Jansen to refocus the book and he completed the new version in August, 1997. Only a month later John Wiley & Sons made the offer to publish the book. His advice to new writers: "Listen to the feedback you get from publishers who don't want to buy. Your work must be unique and you must be able to tell a publisher why it is so special. Finally, don't let anyone take away your dream of being published." | |
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