Guru Roundup: Bringing You the Industry’s Need-to-Know News

This installment of the roundup contains some big news, so let’s start there and focus this post on business, corporate, and industry doings. I hope everyone has a safe and fun holiday weekend!The big news:

Publishers Weekly: Nebraska Book Co. Files for Chapter 11

“NBC Acquisition Corp., parent company of Nebraska Book Company, the country’s third largest operator of college bookstores as well as a major wholesaler of college texts, filed for Chapter 11 bankruptcy protection Monday morning in what it says is part of a plan to recapitalize its debt. According to its filing, the December 31 maturity of a $200 million loan has raised concerns among some publishers about NBC’s ability to finance its back to school textbook and merchandise purchases, and the company was unable to reach a refinancing agreement with all of its lenders without filing for Chapter 11…”

NASDAQ: Barnes & Noble 4Q Loss Widens On Higher Expenses; Online Sales Surge

“Barnes & Noble Inc.’s (BKS) fiscal fourth-quarter loss widened on higher expenses, though the bookseller posted higher revenue thanks to surging online sales. The nation’s largest bookstore chain said it wouldn’t offer an earnings or sales estimate for its new fiscal year because of the takeover offer made last month from Liberty Media Holding Corp. (LCAPA). Liberty’s offer valued the chain at $1.02 billion and is under review by a special committee. Shares were recently off 4% to $19.30 in premarket trading as the results missed analysts’ expectations. The stock has more than doubled in the past three months…”

TechCrunch: Amid Reports Of IPO Plans, Chegg Acquires Lecture Note Marketplace Notehall

“We’re hearing that online textbook rental service Chegg has completed its third acquisition today, snapping up lecture notes and study guides service Notehall for an undisclosed amount of cash and stock. Chegg, which has received over $219 million in financing and hit revenues in the ballpark of $130 million in 2010, is also reportedly“deep in talks” with bankers regarding its plans to go public…”

Business Wire: John Wiley & Sons Announces 2011 Fiscal Year and Fourth Quarter Results

“Revenue advanced 3% to $1.74 billion, or 4% on a currency neutral basis. Adjusted EPS for the full year increased 12%, or 15% on a currency neutral basis, excluding a $0.10 third quarter bad debt charge related to Borders and $0.17 impairment and restructuring charges reported in the prior year. These growth rates include a $0.07 non-cash deferred tax benefit related to a reduction in the UK statutory corporate tax rate. Revenue growth in all segments, lower debt financing costs and lower income tax rates drove results. [Data Table provided]…”

Reuters: MBS Textbook Exchange Names BookRenter as a Preferred Partner to Power Online Textbook Rental for Its 2,000 Campus

“MBS Textbook Exchange and BookRenter announced a preferred partnership to offer BookRenter’s leading online textbook rental platform to MBS’ more than 2,000 campus store partners and MBS Systems inSite customers. Customers using MBS Systems inSite, MBS’ powerful virtual point of sale solution, can add BookRenter to their online textbook site as an
affiliate rental option with one click…”

Market Wire: Sequoia Retail Systems Integrates the BookRenter Platform to Power Textbook Rental for More Than 100 College Stores

“Sequoia Retail Systems and BookRenter have entered into a partnership to integrate the BookRenter platform to Sequoia’s more than 100 ePOS system users. Customers using Sequoia’s ePOS system can incorporate BookRenter’s powerful textbook rental platform directly into their online stores, so students can purchase or rent textbooks all from the same site. College stores on the Sequoia ePOS platform can be up and running on BookRenter in plenty of time for back to school through a no cost upgrade to their system…”

Leave a Comment

Your email address will not be published. Required fields are marked *