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FTC Nears Approval
Announcement Due Any Day NEW YORK, NY/ 5/26/98-The Federal Trade Commission within the next few days is expected to approve the sale of Random House to German media conglomerate Bertelsmann, and RH's subsequent merger with Bertelsmann's US trade division, Bantam Doubleday Dell. BDD spokesman, Stuart Applebaum, told Authorlink! Tuesday that Bertelsmann anticipates approval of its application "very shortly," and indicated that an answer could come on or before June 1. He said Bertelsmann had addressed the FTC's requests for additional information, presumably about the company's market share. The planned merger would create the largest trade publisher in both the US and the English-speaking world. Several author and agent groups had filed complaints with the FTC charging that the merged company would own more than a third of the US trade book market. "The facts are that the combined companies would have about 11 percent of the entire trade consumer marketplace," Applebaum said. " And we have documented this to the FTC. Unlike others who are using estimated, speculative information about our revenues, we clearly know what our own numbers are, and have validated them to the FTC." When the application is granted, Applebaum said Bertelsmann would enter the final stages of due diligence to learn more about the company they are buying. Only when this phase is completed will Bertelsmann decide how Random House and Bantam Doubleday Dell will be physically consolidated. Applebaum said the sale has created a high degree of anxiety because it will change the publishing landscape. "This anxiety has given birth to misinformation about our intentions, our business, and our history, most of which couldn't be less true." For example, rumors that Random House and Bantam Doubleday Dell would no longer be able to bid on manuscripts from one internal imprint to the next are apparently untrue. Applebaum said that while he does not know Random House's specific internal bidding policies, the combined companies would continue to take submissions from author's representative to multiple imprints. "The agent and/or author are free to submit to as many different imprints as they desire. If there is multiple interest among our imprints in a particular work, I'm sure we can work it out," said Applebaum. "Some agents fear that our merger will somehow create a smaller payday for writers," noted Applebaum. "There is simply no evidence of this, " he reassured. Appelbaum anticipates the actual sale will be finalized "later this summer," though he could not say exactly when.
Dorchester/ Leisure
NEW YORK, NY 5/98- Leisure Books, an imprint of Dorchester Publishing, will launch its new Leisure Horror Book Club with the shipment of its first two titles this September. Robert J. Randiski's Alone With The Dead, and Douglas Clegg's, The Halloween Man, are the first titles to be offered. Members will receive a shipment of selected titles bimonthly at a cost of $7.50 per shipment. In addition they will receive a 20% discount on books ordered through Leisuure's telecenter (1-800-481-9191) or through the company's website. Members have ten days to examine and accept titles, and there is no minimum purchase for membership. The first month is free. Dorchester has recently experienced steady sales increases in the horror category, and may eventually expand the line. Contrary to some reports, however, the publisher has no plans to add additional horror slots this year.
World's Oldest
RENTON, WA/ 5/19/98- Game-industry leader Wizards of the Coast Inc. has scheduled a July, 98 re-launch of AMAZING(R) Stories, the world's oldest science fiction magazine. For its premiere issue, Wizards has licensed the use of cover art and original short stories from the legendary Stark Trek: The Next Generation(r), property of Viacom Consumer Products, the licensing division of Paramount Pictures. The cover of July's issue will feature the USS Enterprise D(TM) from Star Trek: The Next Generation. The art was created by Hugo-winning artist Bob Eggleton. In addition, two Star Trek: The Next Generation short stories will be featured: "Last Words," by New York Times best selling novelist A.C. Crispin, and "On the Scent of Trouble," by veteran Star Trek(TM) author John Betancourt. "The relaunch of AMAZING Stories has been highly anticipated," said Wendy Noritake, periodicals publisher at Wizards of the Coast. "We feel the inclusion of Star Trek: The Next Generation stories and cover art will allow us to reach a wider audience. The science fiction short story has a long history and we are proud to continue and nurture this tradition." Other world-class, award-winning authors contributing to the first issue include Hugo award winner Ben Bova, current Hugo and Nebula awards nominee James Alan Gardner, and former Nebula award nominee Neal Barrett Jr. Science fiction fans will be the first to preview the "Gooses" excerpt from two-time Hugo and Nebula awards winner Orson Scott Card's novel "Heartfire," and to read unique commentary from Bruce Sterling, author of the Hugo-winning short story "Bicycle Repairman." The premiere issue will also cover many fascinating facets of AMAZING's 72-year history along with reviews of science fiction books, films and electronic games. AMAZING Stories will be available at most mass-market retail outlets as well as most book, hobby, game and science fiction specialty stores. The magazine will be distributed in a four-color, 8-inch by 10 7/8-inch magazine format at a suggested retail price of $4.99. Amazing Stories was founded in 1926 by Hugo Gernsback, widely acknowledged as the father of science fiction, and was the first publication solely dedicated to the science fiction genre. Wizards of the Coast is a leading developer and publisher of entertainment products, including the world's best selling Magic: The Gathering(R) trading card game. Wizards of the Coast(R) subsidiaries include TSR Inc. and Five Rings Publishing Group Inc. Headquartered just outside of Seattle, Wash., Wizards of the Coast has international offices in Antwerp, London, Milan and Paris. For more information on Wizards of the Coast, visit the company's website at www.wizards.com.
Lady Chatterly's
GREENWICH, CT/5/98-A new publishing firm which will combine online exposure with hard-bound traditional publishing will debut online and in print in June, 1998. Greenwich, Connecticut-based Lady's Chatterly's Library will offer writers a 40% royalty after the first $5,000-$7500 in income, but requires no up-front money or reading fees from its authors. The company will publish "fiction with an edge," according to owner/author M.J. (Melisse) Rose. "The line will include compelling, slightly erotic, fast reads and will be aimed at women and 'men who think'." "We are not a traditional publishing house in that we are using electronic downloading to sell books as well as the typical paperback copies. We think the Internet will allow us to introduce many more writers to the public because of its economics," she said. Lady Chatterly's first title, Lip Service, by M.J. Rose, will be published in trade paperback this June, and is already previewed online at www.readLip/service.com. A $10,000 promotional campaign is planned to support the title launch. Trade paper titles will be distributed by Baker and Taylor and Valentine Publishing Group. Not all works published online will be translated to trade paper. Only those which sell in sufficient "downloaded" qualities will then be considered for traditional printed release. Lady Chatterly's Library plans to publish 2-5 titles in 1998-99, each about 220-330 printed pages in length. Brief email queries can be submitted to Melisse at ParisPoet@aol.com
Growing Media
KNOXVILLE, TN/ 5/18/98-Two investment groups-one of which is involved in ultimately acquiring the reference division of Simon & Schuster-will purchase one of the country's fastest growing theater chains. Michael L. Campbell, President and Chief Executive Officer of Regal Cinemas, Inc. (Nasdaq/NM: REGL) announced that the company will merge with Kohlberg Kravis Roberts & Co. L.P. and Hicks, Muse, Tate & Furst Incorporated. The transaction will be completed by late may or mid June. Hicks, Muse, Tate & Furst, a leveraged buyout firm, will purchase Simon & Schsuter's reference unit for about $1 billion from Pearson plc, British media-group which early this month purchased Simon & Schuster's educational and reference units from Viacom Inc. for $4.6 billion. Kohlberg Kravis Roberts & Company, which controls media/publishing company, Primeda Inc., was also a bidder for the Simon & Schuster units. Regal Cinemas, Inc., founded in November 1989,. is one of the country's fastest growing theater chains. The Company primarily shows first run movies and currently has 2,409 screens in operation at 259 theaters ranking it as one of the largest film exhibitors in the United States.
Hearst-Argyle TV
NEW YORK, NY/ 5/26/98-- The broadcasting legacies created by two of American journalism's most famous names joined forces with the announcement that Hearst-Argyle Television, Inc. (NASDAQ: HATV) has entered into a definitive merger agreement to acquire the nine-station broadcast television group and the five radio stations of Pulitzer Publishing Company (NYSE:PTZ). The combination creates a group of 24 television stations and seven radio stations, and will increase Hearst-Argyle Television's coverage of U.S. television households from about 11 percent to approximately 16.5 percent, ranking it as one of the country's two largest independent, or non- network-owned, TV station groups. The combination also positions Hearst-Argyle as the largest ABC affiliate group and the second largest NBC affiliate group. In connection with the transaction, Pulitzer will contribute its newspaper operations into a new subsidiary which will be spun off to the current stockholders of Pulitzer. Pulitzer, with its remaining broadcast operations, will then be merged into Hearst-Argyle in exchange for $1.15 billion of Hearst- Argyle Series A Common Stock. The number of shares to be delivered at the close of the transaction will be based on a 15-day weighted average price of Hearst-Argyle Series A Common Stock prior to closing, subject to a "collar" between $38.50 and $29.75. Based on Hearst-Argyle's preceding 30- day weighted average market price of $35.00, Hearst-Argyle would issue 32.86 million shares of Series A Common Stock at closing. In accordance with the terms of the definitive merger agreement, at the closing of the merger into Hearst-Argyle, the broadcast operations of Pulitzer will have $700 million of debt and $41 million of working capital. Michael E. Pulitzer, chairman and chief executive officer of Pulitzer, and Ken J. Elkins, president of Pulitzer Broadcasting, will join Hearst-Argyle's Board of Directors upon consummation of the merger. The merger is expected to close by year-end, subject to shareholder and regulatory approval and certain other conditions. Holders representing 65% of the outstanding common stock of Pulitzer have entered into a Voting Agreement, agreeing to vote their shares in favor of the transaction. Additionally, a subsidiary of The Hearst Corporation, which owns approximately 78% of the outstanding common stock of Hearst-Argyle, has entered into a Voting Agreement agreeing to vote its Hearst-Argyle shares in favor of the transaction. Pulitzer has agreed to pay Hearst- Argyle a fee of $50 million in the event its shareholders do not approve the transaction or its Board of Directors terminates the merger agreement under certain circumstances. Concurrent with the transaction, Hearst-Argyle announced that its Board of Directors has authorized the Company to repurchase up to $300 million of its outstanding Series A Common Stock. Hearst-Argyle expects such repurchases to be effected from time to time in the open market or in private transactions, subject to market conditions. The Hearst Corporation has also notified Hearst-Argyle of its intention to purchase up to 10 million shares of Hearst-Argyle Series A Common Stock from time to time in the open market, in private transactions or otherwise. Credit Suisse First Boston acted as financial advisor to Hearst-Argyle in this transaction. "We have foregone other acquisition opportunities since the creation of Hearst-Argyle Television, waiting to find that defining transaction that would take us to a new level," said Bob Marbut, chairman and co-chief executive officer of Hearst-Argyle Television. "With the acquisition of Pulitzer Broadcasting, we have found it. "The Pulitzer stations and markets are a perfect complement to the Hearst-Argyle stations and markets. This combination will move us rapidly toward the fulfillment of several key strategic goals. In addition to a number of television stations, Hearst-Argyle Television also owns and operates Hearst- Argyle Television Productions, a producer of programming for cable networks and broadcast stations. In addition, Hearst- Argyle Television provides management services for WWWB-TV, the WB affiliate in Tampa, FL; WPBF-TV, the ABC affiliate in West Palm Beach, FL; and two radio stations, WBAL-AM and WIYY-FM, Baltimore; and provides programming services to KCWB-TV, the UPN affiliate in Kansas City, MO. These stations, other than KCWB, which is operated through a local marketing agreement, are owned by The Hearst Corporation, which is privately held.
United Family
MIAMI, FL /5/18/98--Coral Gables, Florida-based United Family Communications has been renamed MGM Networks Latin America as a result of a joint venture agreement between MGM Worldwide Television Group's MGM Networks, a unit of Metro-Goldwyn-Mayer Inc. (NYSE:MGM) and United International Holdings Inc. MGM Networks Latin America will offer a multi-channel programming package in both Spanish and Portuguese in Latin America. Initially, three channels will be offered -- UFC's two pan-Latin American channels, The Family Channel and Casa Club TV, plus MGM's MGM Gold Brazil. MGM Networks Latin America plans to pursue other channel acquisitions and launch additional channels for the Latin American market. The transaction will result in nearly three million cable and satellite television subscribers having access to The Family Channel and MGM Gold Brazil, which will be distributed via separate Spanish-speaking Latin America and Brazil feeds. MGM Networks Latin America programming will focus on lifestyle content such as home improvement, food, and related programming featuring a significant block of original productions. United Family Communications LLC (UFC), was a wholly owned subsidiary of United International Holdings Inc. (UIH) (NASDAQ:UIHIA). In an earlier transaction, UIH Latin America (UIHLA) had acquired the remaining 50 percent of UFC from International Family Entertainment (IFE) to become the sole owner of UFC. In this transaction, UIH sold shares of UFC to MGM equal to a 50 percent ownership stake for MGM. MGM Network is part of MGM Worldwide Television Group, which handles television production and domestic television distribution for Metro-Goldwyn-Mayer Inc. The Group also manages MGM Animation, in addition to all international pay and free television operations, including distribution, channel ownership and management, television program co-production, and MGM Gold, the studio's first satellite-delivered branded Hollywood entertainment channel. Through MGM Worldwide Television Group, more than 4,000 feature films and 8,200 television episodes are available to the global television market. UIHLA has ownership interests in telecommunications properties in Chile, Mexico, Peru and Brazil, such systems serve over 2.1 million potential homes passed and approximately 500,000 subscribers. UIH is a leading provider of multi-channel television services and related businesses outside of the United States. UIH has ownership interests in and provides management services to multi-channel television systems operating in 23 countries throughout the world, covering 9.9 million homes in franchise areas, 7.7 million homes passed and 3.9 million CATV subscribers (including announced transaction). Additionally, the company has 3.0 million programming subscribers. UFC was the first network in Latin America to offer a full line-up of programs suitable for the whole family. It airs highly rated international first-run series, quality family movies, pre-school and game shows. Casa Club TV is the only network entirely dedicated to the home in Latin America.
InformationWeek
MANHASSET, N.Y/ 5/20/98-- CMP's InformationWeek magazine has unveiled dramatically expanded coverage of information technology (IT) careers. The newsweekly's increased focus on IT careers includes an ongoing, Web-based salary survey, a new Career section on InformationWeek Online (www.informationweek.com/career) as well as expanded coverage in print. "The burgeoning shortage of IT professionals is resulting in not only increased headaches for business managers but also in delays of mission-critical technology projects," said InformationWeek Editor Brian Gillooly. "At the same time, this dearth of talent has resulted in increased opportunities for proven performers and thus for job-hopping. Both IT job seekers and companies need sound guidance to protect their best interests. It is our hope that InformationWeek's increased career coverage will help fill that void." The centerpiece of InformationWeek's increased careers coverage is an ambitious and ongoing salary survey project. For the first time, InformationWeek Research's 1998 National IT Salary Survey, powered by technology developed by Information Builders, has been placed on the World Wide Web - available to any working IT professional in the U.S. or elsewhere (www.informationweek.com/salary). In print, InformationWeek has expanded its career-focused coverage to include more pages with analysis pieces that tie into topical careers issues, as well as ongoing coverage of the IT labor shortage. Published weekly by CMP Media Inc., InformationWeek magazine delivers news, strategies, analysis, product and technology information to 375,000 people who manage technology in business. In addition to the weekly magazine, InformationWeek provides a system of information solutions for people who manage technology in business, including InformationWeek Online, the annual InformationWeek Conference for business and technology executives and InformationWeek Daily, an email news service. CMP Media Inc. (Nasdaq: CMPX) is the only high-tech media company providing essential information and marketing services to the full technology spectrum--the builders, sellers and users of technology worldwide. With its portfolio of leading newspapers, magazines, custom publishing, Internet products and conferences, CMP Media is uniquely positioned to offer marketers comprehensive, integrated solutions tailored to meet their individual needs. Online editions of the company's print publications, which include EE Times, InformationWeek, Computer Reseller News and Windows Magazine, along with products and services created exclusively for the Internet, can be found on CMPnet at http://www.CMPnet.com.
IDG's InfoWorld
SAN MATEO, CA/ 5/18/98--May 18, 1998--InfoWorld, a pace-setting IS newsweekly that covers products used in corporate enterprises, has announced that for the second year in a row it has been awarded a distinguished Maggie Award as the Best Trade Tabloid. More than 1,700 entries were judged in 63 categories in the annual competition sponsored by the Western Publications Association. InfoWorld was awarded the 1998 Maggie Award as Best Trade Tabloid based on strict guidelines for editorial and design excellence. Headquartered in San Mateo, Calif., in the heart of Silicon Valley, InfoWorld Media Group publishes InfoWorld Electric (www.infoworld.com). InfoWorld Electric, the leading enterprise computing authority on the Web, publishes daily technology news, product reviews, opinions, and interactive discussion forums, along with a weekly e-mail newsletter (the InfoWorld Scoop) and a complete archive of InfoWorld's print edition. InfoWorld Media Group is a wholly-owned independent business unit of IDG, the world's leading IT media, research and exposition company. IDG publishes more than 285 computer magazines and newspapers and 500 book titles and offers online users the largest network of technology specific sites around the world through IDG.net (www.idg.net), which comprises more than 200 targeted Web sites in 52 countries.
New York
The New York City Annual Literary Festival is scheduled Wednesday September 23 through Sunday September 27. The series of events will include a Sunday Street Fair to be held from 11 a.m. to 5 p.m. that Sunday on Fifth Avenue between 50th and 57th streets.
Acses Adds More
5/14/98--Acses, the book price comparison service for Internet bookshops, has added Spree.com, Kingbooks.com and 1,000s of Discount Books to its book price search engine. By adding the new bookstores, Acses, which already checks offers from far more bookstores than any other similar concern, widens its reach even further. "Our goal is to find the internetwide best offer on any book for visitors to Acses", Christopher Muenchhoff, Managing Director of Muenchhoff & Janz GmbH and Chief Developer of Acses states. "The inclusion of Spree.com, Kingbooks.com and 1,000s of Discount Books will help us to achieve this goal. Each of the three bookstores offers attractive discounts and has unique features. We are sure that the inclusion of these three stores will add even greater value for our visitors and we are as delighted as the bookstores about this partnership." Acses is a leading comparison shopping service for the online book market. Visitors using Acses simply select any book by title, author, keyword or ISBN search and the Internet software robot then automatically visits all online bookshops simultaneously to retrieve the current prices for this book from each store. Availability, shipping costs and shipping times are taken into account as well. After a few seconds, Acses presents a table of all offers, sorted by price. According to Yahoo! Internet Life, "Bargain hunting for books online has never been easier". Spree.com has more than three million titles in its library and provides one of the most powerful search engines online. Spree.com's best sellers are always 40% off list price and its prices are some of the lowest on the Internet. Special interest categories like Mystery, Romance, Children's books or Computer books make finding a book a cinch, and with its unique service called Librarian Search, Spree.com helps its customers to locate hard-to-find and out of print books. Kingbooks.com features a selection of one million books searchable in many ways via a search engine designed for high accuracy and speed. Some of the unique services of Kingbooks.com include free gift wrapping, free classic book with order, ChecksByNet payment option, and a children's "corner" with a seperate children's search engine. Kingbooks.com prides itself in offering some of the lowest prices available, especially after shipping charges are added. 1,000s of Discount Books is an extension of the retail outlet Port Townsend Discount Books. This online bookstore offers books discounted 40% up to 90% off of the publishers' prices. The book selection is constantly changing, the inventory is updated bi-weekly, and it includes publisher's overstock, quite a large selection of basic backlist titles, and select remainders all at least 40% off of the publisher's price. Books are available in every category from Art, Travel, Health, Children's, Business, Reference, History, Religion, Science/Nature, Gardening, Cookbooks, and many more. For a test of Acses or more information, visit the Acses web site located at www.acses.com.
Audio Book Club
BOCA RATON, FL/5/26/98--Audio Book Club Inc. (AMEX:KLB), has announced two new programs, the audiobookclub.com Associates Network (for web sites) and the Audio Book Club Connection (for physical stores) that will enable web sites, bookstores and other businesses and/or organizations to sign up members for Audio Book Club and then receive a commission on each sale for doing so. The audiobookclub.com Associates Network allows businesses/organizations to offer to visitors to their web sites the opportunity to join Audio Book Club online. Participants in the program add value to their web site at no cost to them and receive a new source of revenue for doing so. Any business or organization with a web site may apply to enroll in the audiobookclub.com Associates Network and become an Associates Network Participant. An Audio Book Club hyperlink will appear on the participant's web site enabling visitors to click through to www.audiobookclub.com and join Audio Book Club. As members, they are able to view more than 68,000 audio book titles and make purchases among a wide range of interests, fiction and non-fiction, including recently published editions. The Audio Book Club Connection is a program currently offered to physical stores including all bookstores. Participating stores will receive a new source of revenue when visitors to their store become Audio Book Club members and it will cost them nothing to participate. Audio Book Club Inc. is a direct marketer of audiobooks through Audio Book Club, a membership club which markets and sells audiobooks by mail order and via the Internet. Since commencing operations in January 1994, the Company has engaged in an aggressive membership recruitment program to establish a core Audio Book Club member base of over 320,000 members and to continually expand such member base.
theglobe.com
NEW YORK, NY/5/20/98--theglobe.com, celebrating its 3rd year anniversary as the premiere online community, has announced that it crossed the 1.5 million member mark, making the site one of the fastest growing Web companies in the industry. In April, more than 3.5 million unique users visited the site while 1.7 million users were active in March, signifying a rapidly growing user base at the site. "We have seen growth in excess of 100% per month since the beginning of this year," stated Todd Krizelman, CEO, theglobe.com. "Traffic has doubled in the last two months alone and is expected to quadruple over the next two months." theglobe.com's emphasis on ease of use, enabling even the novice to create a personalized website, has also played a significant role in the exponential rise in traffic. PC Magazine recently cited theglobe.com as one of the top 100 Websites of 1998 and Media Metrix listed the Company 13th in their NEWS, INFO, ENTERTAINMENT category, placing theglobe.com ahead of usatoday.com and abc.com. Based in New York, theglobe.com is the premiere on-line community named by PC Magazine as one of the Top 100 web sites for 1998. The site is defining lifestyle on the web with over 1.5 million members and focuses on social dynamics; integrating Personal HomePage Building Tools, Chat Rooms, E-Mail, Discussion Forums, Special Interest Groups, Celebrity Event Series and a Marketplace that includes retailers Barnes & Noble, CD Now, F.A.O. Schwarz and Disney. In the summer of 1997, theglobe.com received a $20 million investment from Michael Egan, former owner of Alamo-Rent-A-Car. The Company was founded by Cornell University graduates Todd Krizelman and Stephan Paternot in 1994.
Web Classified
CHICAGO, IL/5/21/98--Classified Ventures - a national online network of local and national web sites which offer in-depth classified advertising, has extended its reach to 42 states with the addition of three new Classified Ventures partners: Central Newspapers Inc., Gannett Co. Inc. and The McClatchy Company. The network offers consumers in-depth classified auto, apartment and real estate advertising listings, resources and services. "With the addition of these major groups and their presence in 19 states not previously covered by Classified Ventures, we are quickly building a truly national network capable of delivering to consumers and advertisers the Internet's most comprehensive national and local classified advertising listings and related information," said Tim Landon, Classified Ventures' chief executive officer. The company's rapidly growing network - which now has the resources of 135 newspapers - will reach 42 states, including 35 of the nation's top 50 markets, Landon added. "We believe that the best way to win nationally, is to win locally. The strength of our newspapers' local brands gives us a tremendous advantage against competitors from outside the newspaper industry." Through Classified Ventures, affiliate Web sites offering online local classified listings, advertising and information - including, for example, news about local schools and communities - are being linked to Classified Ventures' nationally branded Internet sites. These sites contribute network content, such as additional new-car reviews, as well as national advertising, decision-support tools and services, such as car payment calculators and financial service information. Gannett, the nation's largest newspaper publisher, has 87 daily newspapers and daily circulation of approximately 6.7 million. Among the additions to the Classified Ventures enterprise will be the largest newspapers in Hawaii, Iowa, Kentucky, Mississippi and Vermont. Central Newspapers publishes seven dailies with a combined circulation of 825,000 and 1.5 million on Sunday. It brings to the Classified Ventures network the largest newspapers in Arizona (The Arizona Republic) and Indiana (The Indianapolis Star and News). The Arizona Republic, based in Phoenix, is the fastest growing major morning newspaper in the country. The McClatchy Company brings to Classified Ventures 11 daily newspapers, including the largest newspaper in Minnesota (Minneapolis Star-Tribune) and the second largest in North Carolina (The News & Observer in Raleigh). Additional major markets include Sacramento and Tacoma. Combined, Classified Ventures' seven affiliates - Central Newspapers, Gannett, Knight Ridder, The McClatchy Company, The Times Mirror Company, Tribune Company and The Washington Post Company - operate 147 daily newspapers with a circulation of 17.4 million and Sunday circulation totaling 21.4 million. They also operate 49 television stations in 22 markets, including 15 of the top 25. Classified Ventures, based in Chicago, is a company funded by seven leading media companies - Central Newspapers Inc., Gannett Co. Inc., Knight Ridder, The McClatchy Company, The Times Mirror Company, Tribune Company and The Washington Post Company. The company currently operates the national Apartments.com web site (www.apartments.com) and the national cars.com site (www.cars.com). In June, the company will adopt Knight Ridder's HomeHunter.com brand for Classified Ventures' real estate category.
Avenue Entertainment
NEW YORK, NY, 5/20/98--Wombat Productions, a division of Avenue Entertainment Group (AMEX:PIX), will begin offering the award-winning titles of its Hollywood Collection to home-video buyers via the Internet. The Hollywood Collection will be available for purchase online in the early fall and consists of 25 hour-length profiles of major film stars such as Marilyn Monroe, Cary Grant, Shirley MacLaine, Gregory Peck, Ingrid Bergman, Gary Cooper, Steve McQueen and Robert Mitchum. The programs are produced and owned by Wombat and have appeared on the A&E series Biography, PBS, Lifetime's Intimate Portraits, and HBO/Cinemax. The company's new web site, WWW.HOLLYWOOD-COLLECTION.COM, will have links to the A&E network (aetv.com), Biography (biography.com), American Movie Classics (amc.com), PBS (pbs.org), and Lifetime Television (lifetimetv.com). The site will include photos and descriptions of each program, secured ordering capability and dozens of additional links to related celebrity sites. The other film stars featured in the collection are Grace Kelly, William Holden, Anthony Quinn, Jack Lemmon, Joan Crawford, Burt Lancaster, Yul Brynner, Roger Moore, Mae West, Alan Ladd, Barbara Stanwyck, Fred MacMurray, Walter Matthau, Charlton Heston, and Lassie. The collection also includes the classics "The Horror Of It All" and "Hollywood's Children."
ACTV, Media4
Via Satellite Technology NEW YORK, NY/ 5/19/98-- ACTV Net, Inc. the Internet division of ACTV Inc. (NASDAQ: IATV) and Media4, Inc., a leader in providing satellite broadcast technology for the distribution of video, multimedia, and the Internet to personal computers has agreed to promote new satellite delivery of digital video integrated with related Web content for corporate intranets and distributed learning networks. Under the agreement, ACTV will integrate its eSchool Online(TM) Java-based virtual learning community application and its individualized television technology for distributed learning with Media4's MediaStream satellite distribution technology. Networks implementing Media4's MediaStream technology will now be able to deliver broadcast and individualized digital video along with related Web content directly to computer desktops accessing eSchool Online(TM). The integration of eSchool and MediaStream represents the most efficient way to deliver full motion MPEG1 or MPEG2 digital video and related Web material to the desktop given the bandwidth limitations of the Internet. The video quality of the content delivered via satellite is substantially better than that which can be delivered over the Internet. MediaStream also vastly improves the rate at which the related Web material is delivered to a client using eSchool Online(TM). MediaStream allows distance learning or corporate intranet content providers to transmit Internet data at speeds of up to 60 megabits per second, or about one thousand times faster than conventional modems. The integration of Media4's distribution technology and ACTV Net's software applications represents a major breakthrough for the delivery of engaging content to satellite-based learning networks and corporate intranets. The relationship will focus on the growing trend within corporations to provide information and training content to the desktop. This content consists of full motion video and related information delivered through corporate intranets or on-line education networks. The combination of Media4's MediaStream wireless distribution technology and ACTV Net's education and training applications provides a better way to provide this type of experience. Based in New York City, ACTV Inc. provides innovative programming technologies for individualized television and on-line learning. Media4, headquartered in Atlanta, GA, is dedicated to the development of products that connect personal computers to broadband wireless networks. MediaStream can be used on virtually any C, Ku or DBS band satellite system. Compatible with DVB standards, MediaStream delivers video and Internet content using low cost PC based receivers.
People
Disney Names CFO; Strategy Officer: Thomas O. Staggs has been promoted to executive vice president and chief financial officer of The Walt Disney Company and Peter E. Murphy has been promoted to executive vice president and chief strategic officer, it was announced Wednesday by Michael D. Eisner, Disney chairman and chief executive officer. Eisner also said that Lawrence P. Murphy, no relation, has decided to leave his position as executive vice president and chief strategic officer to pursue other opportunities, but that he would continue in a role for Disney as a consultant on strategic initiatives. In their new positions, Staggs, 37, will be responsible for controller functions, acquisitions, treasury activities, taxes and investor relations; and Murphy, 35, will be responsible for strategic analysis, business development, and long-term planning for the growth of Disney's global businesses. Staggs has been senior vice president of strategic planning and development where he has been responsible for corporate development, acquisitions, technology, creative content and professional sports strategy. He was a key member of the team that put together the acquisition of Capital Cities/ABC. Staggs has also been responsible for the strategic development of online initiatives including the acquisition of Starwave and was instrumental in the disposition of publishing assets acquired in the Cap Cities merger. Staggs joined Disney in 1990 as manager, strategic planning. Prior to Disney, he was an investment banker with Morgan Stanley & Co. Inc. Murphy joined the company in 1988 as a senior planning analyst. Before coming to Disney, he was an executive with Strategic Planning Associates. He holds a bachelor's degree from Dartmouth College and an MBA from the Wharton School of Business. Prior to joining Disney, Murphy served as vice president, business planning and development, for the Marriott Corp. He held earlier positions at Bain and Company, a strategic management consulting firm, and with Citibank. Trimark Pictures Names Exec VP: Trimark Pictures has promoted Jonathan Komack-Martin to executive vice president of production. The announcement was made by Trimark Chairman and Chief Executive Officer Mark Amin. In his new position, Komack-Martin will continue to oversee the Production Department. He is currently preparing for the production of "Inconvenienced," a fish-out-of-water comedy starring Jamie Fox ("The Jamie Fox Show," "The Players Club"). He is also in preproduction on "Frida," a biography of Frida Kahlo the Mexican artist, directed by Roberto Sneider, and an as-yet-untitled Michael Cimino project. As senior vice president of production at Trimark Pictures, Komack-Martin has had a key role in the successful productions of several films, including "Star Kid," starring Joseph Mozello ("Jurassic Park," "A River Wild"); "A Kid in King Arthur's Court," which was released by Disney; and "Sprung," produced by Darin Scott ("Menace to Society") and directed by Rusty Cundieff ("Fear of a Black Hat"). Trimark Holdings Inc. is a broad-based entertainment company that acquires, produces and distributes motion pictures domestically and internationally under the Trimark Pictures banner; licenses to the broadcast industry under the Trimark Television moniker; and distributes to the domestic home-video market under the Trimark Home Video label.
Digital Printing
TORONTO, CANADA 6/1/98--Inside a large one-story brick building on the outskirts of Toronto, publishing has taken a quantum leap forward. Here, Carswell, a division of Thomson Canada Limited, a publisher specializing in Canadian law and legal information, has forsaken the time-consuming processes of offset printing. Now, thanks to digital publishing, Carswell turns out thousands of books, all with the touch of a button. Using a comprehensive corporate database, Carswell maintains all current information related to the Canadian law and the legal profession. This vast body of information can be pruned and shaped into manuscripts targeting the needs of any client in this niche market. For example, Carswell creates compilations of cases dealing with family or motor vehicle law, or books listing new tax laws complete with expert commentary. Prepared manuscripts are sent in digital form to Carswell’s manufacturing plant where the file is printed directly onto the paper that will be bound into books. At the plant, a giant roll of paper is rapidly unwound and fed in a continuous sheet through a high-speed printer. The sheet appears to fly through the machine, as the paper is printed double-sided at an astonishing rate of 500 book pages per minute. Post-production equipment automatically cuts the single sheet into pages and stacks them. An operator then takes individual manuscripts and slots them into a binding machine. As if by magic, now sporting neat, glossy covers, the finished volumes parade single file down the conveyer belt. Books that used to take days or weeks and several workers to produce are now turned out in minutes with minimum labor. While traditional offset printing is faster and more economical for large print jobs, digital printing is cost-effective for runs up to 5,000 copies. These runs are small, but highly lucrative, as they are easy to produce and meet a growing demand for just-in-time information. Digital printing is ideal for instructional or educational books, which require current information. As well, the content of these books can be customized for individual courses. Overall, digital printing is much simpler and more flexible than other printing forms. Jim MacLachlan, Operations Manager at Carswell, notes, “We can be in the middle of one print job for 3,000 books. If needed, we can signal a pause in production, load a new file, and print a few copies of another book. That completed, we can instantly return to producing the original job” The ability to make books on demand (only when required) cancels out the need to generate large inventories which require expensive storage. Océ Printing Systems is the company that provides the printers for this new generation of highspeed digital printing and publishing. In this country, StorageTek Canada, Inc. with its expertise in electronic data storage, helped to design the right publishing solution for Carswell. Here, StorageTek acts as a reseller for Océ printers. In the United States, however, Océ has its own sales, marketing, and support offices. Océ printers range in price from approximately $310,000 (US) to $602,000 (US). Many publishers find such an initial investment daunting. Still, digital printing not only dramatically cuts time and labor costs, it opens up whole new publishing possibilities. For example, tens of thousands of rare or out-of-print books can now be easily manufactured, as needed, for a global audience. Carswell is an example of how a traditional publisher can use digital publishing to cater more successfully to its existing market. Further, as more information is stored electronically, publishers equipped for digital publishing may find they are prepared to deal with a worldwide market, hungry for all types of current information in print form. Copyright 1998. All rights reserved. Burke Campbell (burke.campbell@sympatico.ca)
Books-A-Million
BIRMINGHAM, AL/5/20/98--Books-A-Million, Inc. (NASDAQ/NM:BAMM) has announnced results for the first quarter ended May 2, 1998. For the quarter, net sales increased 9.1% to $74.5 million from sales of $68.2 million for the year-earlier quarter. Comparable store sales were down 4.3% for the first three months of fiscal 1999. Superstore sales accounted for 89.5% of total retail sales for the quarter. Earnings before interest, taxes and depreciation for the first quarter were $4.3 million, unchanged from the year-earlier period. The Company reported net income of $10,000, or $.00 per diluted share, for the first quarter of fiscal 1999, compared with net income of $369,000, or $.02 per diluted share a year ago. Despite opening 15 new superstores since the first quarter of fiscal 1998, inventory remained essentially unchanged at $165.2 million at the end of the first quarter of fiscal 1999. Total debt at quarter's end was $61.7 million compared with $62.9 million at the end of the first quarter of fiscal 1998. Commenting on the results, Clyde B. Anderson, President and Chief Executive Officer, said, "We are disappointed with our sales for the first quarter, which were weaker than expected in most of our major product lines. Severe weather conditions and the lack of dominant new bestsellers had an adverse impact on comparable store sales. We are continuing to execute our plans to improve inventory management and working capital while focusing on increasing sales." Books-A-Million, Inc. is one of the leading book retailers in the southeastern United States. The Company presently operates 164 bookstores in 17 states. The Company operates three distinct store formats, including large superstores operating under the names Books-A-Million and Books & Co., traditional bookstores and combination book and greeting card stores, both operating under the name Bookland.
Barnes & Noble
NEW YORK, NY/5/21/98-- Barnes & Noble, Inc. (NYSE:BKS), the world's largest bookseller, has announced total revenues of $666.3 million for its first quarter ended May 2, 1998, up 12 percent from $595.7 million a year ago. Barnes & Noble "super" store revenues increased 14 percent to $551.0 million from $481.6 million and accounted for 83 percent of total revenues during the first quarter compared with 81 percent during the same period last year. For the quarter, Barnes & Noble comparable store sales rose 6.1 percent and comparable store sales for B. Dalton were flat. barnesandnoble.com's revenues rose to $9.4 million, a 14 percent increase over revenues of $8.2 million reported for its fourth quarter of fiscal 1997. The company's retail business reported a first quarter operating profit of $13.7 million, up from $3.4 million during the same period last year. Strong Barnes & Noble comparable store sales, increasing new store sales productivity, expanding gross margins and increasing operating leverage were the major factors contributing to the year-over-year gain for the retail business. During its 1998 first quarter, barnesandnoble.com reported an operating loss of ($13.6) million. The company's loss for the first quarter narrowed to ($3.3) million, or a ($0.05) per share loss (based on 68.1 million shares), as compared with the year-ago first quarter net loss of ($3.9) million, or a ($0.06) per share loss (based on 66.4 million shares). The first quarter results reflect net earnings of $4.7 million, or $0.07 per share for the company's retail business and barnesandnoble.com's net loss of ($8.0) million or ($0.12) per share. Through May 2, 1998, barnesandnoble.com had more than 500,000 customers in 158 countries. Its affiliate network grew to over 6,500 sites; new affiliates are being added at an average rate of 400 per week. In June, barnesandnoble.com plans to launch an enhanced version of its Web site including features such as one-click ordering, deeper search capabilities, richer editorial content and an updated design. As of May 2, 1998, inventories increased 17 percent to $856.6 million from $731.5 million as of May 3, 1997. This increase is in line with the company's revenue growth of 12 percent and the increase in its distribution center standing inventory to over 600,000 different titles available for shipping within 24 hours to both online customers and the retail store network. Cash flows from operating activities, net of capital expenditures, for the last twelve months rose to $7.6 million, up from a deficit of ($8.0) million during the prior year period, which includes the company's continuing investment in its online business. Total debt declined three percent to $358.6 million as of May 2, 1998, from $369.3 million last year. As of May 2, 1998, the company operated 481 Barnes & Noble stores and 520 B. Dalton stores. During the first quarter, two Barnes & Noble stores were opened and four were closed. B. Dalton closed eight stores during the first quarter. Barnes & Noble stores offer an authoritative selection of more than 175,000 titles from more than 10,000 publishers with an emphasis on small, independent publishers and university presses. Barnes & Noble is the world's largest bookseller on the World Wide Web (http://www.barnesandnoble.com), and the exclusive bookseller on America Online's Marketplace (Keyword: barnesandnoble). The company publishes books under the Barnes & Noble imprint for exclusive sale through its retail stores, mail-order catalogs and World Wide Web site.
Raintree Steck-Vaughn
AUSTIN, TX/5/18/98--Students in four school districts who want to speak to the authors of new books being published next year by Raintree Steck-Vaughn Publishers may be required to do no more than turn to the desk next to them. That's because four students - from Maine, Connecticut, Pennsylvania and Washington - have won the Grand Prize in the 1998 Publish-A-Book contest sponsored by Steck-Vaughn and its Raintree imprint. The four aspiring authors receive a Raintree Steck-Vaughn publishing contract that includes a $500 royalty advance as well as royalties generated by the sale of books to schools and libraries around the world. The softcover editions of each winner's book will be published in early 1999. Raintree Steck-Vaughn will publish each author's work in full-color, professionally illustrated, softbound editions for international distribution. This year's contest theme, "Enter the world of technology," drew more than 8,000 participants in the second through fifth grades. Chosen for the Grand Prize were:
An additional 30 students were selected as honorable mention winners. Ceremonies honoring the Grand Prize winners will be made at their respective schools in the coming weeks. Raintree Steck-Vaughn will also donate a variety of Raintree Steck-Vaughn titles to the schools' libraries. The annual Publish-A-Book contest has been stimulating interest in reading and writing since Raintree Steck-Vaughn began its sponsorship in 1987. "The high caliber of the manuscripts we received this year was truly inspiring," said Richard A. Casabonne, president of Steck-Vaughn. "This is always such a rewarding program for everyone involved, but this year the judges were struck by the depth of imagination and clarity of expression exhibited by all of these young writers. We believe the four new books we're adding to our selling list will be popular titles for years to come." Winners for the Young Publish-A-Book contest (grades two and three) and the Publish-A-Book contest (grades four and five) were selected by a 10-member panel of librarians and a Steck-Vaughn executive committee, which included a well-known children's author. Selections were made on the basis of nine criteria, including originality and creativity, consistent point of view, appeal to audience, convincing characters, and style. Honorable mention award winners were: Young Publish-A-Book contest (grades 2 and 3)
Publish-A-Book contest (grades 4 and 5)
One of the country's largest publishers of supplemental education material, Steck-Vaughn offers educators a broad range of quality products addressing educational needs from early childhood through adulthood. Steck-Vaughn also publishes reference and nonfiction products for schools, public libraries and bookstores under the Raintree Steck-Vaughn Publishers imprint. The company is operated by Harcourt Brace & Company, one of the world's premier educational publishers and learning service providers. For information about acquiring the winners' books, call 1-800-531-5015. | |
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