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Houghton Mifflin Harcourt

Houghton Mifflin Harcourt Partners with Libboo For Social Media Promotion

Houghton Mifflin Harcourt has partnered with social networking site for readers Libboo. The two companies have launched an online pilot program to help HMH promote books.

AppNewser has more about the partnership: “The two Boston-based companies have created a three-month program to offer readers access to some of their books. Readers who share these books through their own social networks will be able to earn free eBooks. ‘Libboo’s unique platform allows our authors to share their work with an even wider audience using the power of social media,’ stated Gary Gentel, president of HMH’s trade and reference division.”

HMH will be showcasing the new books Diving Belles by Lucy Wood, The Heart and the Fist by Eric Greitens and How Children Succeed  by Paul Tough, as well as a number of previously published titles by HMH authors.

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Houghton Mifflin Harcourt Emerges from Bankruptcy

Thirty-two days after filing a pre-packaged bankruptcy to redistribute the company’s $3.1 billion in debt, Houghton Mifflin Harcourt has emerged from bankruptcy.

CEO Linda K. Zecher had this statement: “We have achieved our financial restructuring objectives and moved through this process quickly and successfully. Now we have emerged with significantly less debt, a much improved balance sheet and capital structure and the financial strength to invest in new products and innovative digital education solutions to grow our business for the benefit of our customers.  Our emergence reflects the dedication of our team and the strong support of our investors and lenders to position HMH for long-term success.”

The official announcement was made last Friday, one day after the U.S. Bankruptcy Court for the Southern District of New York approved the publisher’s restructuring plan. The company filed the planned bankruptcy in May, predicting a “a prompt, court-supervised, chapter 11 process.”

Philip K. Dick Total Recall eBook Coming

Houghton Mifflin Harcourt has acquired the eBook rights to “We Can Remember it For You Wholesale,” the short story by the late Philip K. Dick that inspired the Total Recall movie in 1990 and an upcoming remake (trailer embedded above).

The Wylie Agency negotiated the deal with publisher Bruce Nichols.

The publisher will release a tie-in version of the story (entitled Total Recall) in time for the remake’s August release . Len Wiseman directed the August 2012 film that stars Colin Farrell, Kate Beckinsale and Jessica Biel.

Houghton Mifflin Harcourt Files for Bankruptcy

Houghton Mifflin Harcourt has officially filed a major restructuring plan to redistribute the company’s $3.1 billion in debt, entering what they called “a prompt, court-supervised, chapter 11 process.”

The company predicts they will emerge from the restructuring by the end of June. They had revealed the pre-packaged bankruptcy plan earlier this month.

Here’s more from the publisher: “Houghton Mifflin Harcourt will maintain normal day-to-day business operations throughout the restructuring process, and we expect no disruptions to our relationships with our customers, agents, authors, employees, business partners and suppliers. Our customers will continue to receive the high quality content they have come to expect from us, and service without interruption. Additionally, our plan provides for our suppliers and vendors to be paid in full during and after this process and for our employees to continue receiving their usual pay and benefits.”

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Houghton Mifflin Harcourt to Restructure $3.1 Billion in Debt

Houghton Mifflin Harcourt hopes to mount “comprehensive financial restructuring plan” to redistribute the company’s $3.1 billion in debt. The plan includes “a prompt, court-supervised, chapter 11 process.”

Here’s more from the company: “If approved by the requisite percentages and implemented as proposed, HMH will eliminate $3.1 billion of debt and reduce current annual cash interest costs by approximately $250 million … To facilitate these important changes to HMH’s capital structure, in the near future the Company plans to utilize a ‘pre-packaged’ plan of reorganization that will be implemented through a prompt, court-supervised, chapter 11 process. This will have no impact on the Company’s day-to-day operations.”

The move would redistribute “bank and bond debt into 100% of the equity” in the restructured publisher. Citigroup Global Markets has already made a commitment for $500 million in financing to help the company redistribute its debt.

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Houghton Mifflin Harcourt’s Amazon Deal & Art of Letter Writing: Top Stories of the Week

For your weekend reading pleasure, here are our top stories of the week, including Houghton Mifflin Harcourt’s shocking news about Amazon, a fake Cormac McCarthy Twitter account and  Jack Gantos‘ Newbery Medal winning novel (pictured).

Click here to sign up for GalleyCat’s daily email newsletter, getting all our publishing stories, book deal news, videos, podcasts, interviews, and writing advice in one place.

1. 10 Bestselling Books with More Than 80 One-Star Reviews
2. What’s the Best Book You’ve Read in a Single Day?
3. Cormac McCarthy Did Not Join Twitter
4. Pinterest Tips for Writers
5. INFOGRAPHIC: Most Quoted Books of 2011
6. Houghton Mifflin Harcourt to Distribute Amazon Books
7. J.R.R. Tolkien & George Orwell Removed From Public Domain
8. Best Mystery Books of 2011
9. Revive the Lost Art of Letter Writing Next Month
10. Jack Gantos Wins the Newbery Medal

Houghton Mifflin Harcourt to Distribute Amazon Books

Amazon has struck a new deal to distribute its books outside of its popular online store. Houghton Mifflin Harcourt’s brand new New Harvest imprint will now publish “all of Amazon Publishing’s New York-based imprint’s adult titles in print and distribute them in North America outside of the Amazon.com platform.”

When Amazon Publishing’s East Coast Group launches its inaugural list next fall, it will include books by Tim Ferriss, Penny Marshall, Deepak Chopra and James Franco. Last year Houghton Mifflin Harcourt mounted a major restructuring.

Amazon Publishing’s East Coast Group publisher Larry Kirshbaum had this statement: “Our goal has been, and remains, to introduce authors to as many readers as possible … This new agreement with Houghton Mifflin Harcourt enables us to broaden our distribution and get our books into more readers’ hands.”

Houghton Mifflin Harcourt to Close Indianapolis Warehouse

As part of a company-wide restructuring, Houghton Mifflin Harcourt will close its Indianapolis West Warehouse Facility next year.

In addition, The Learning Company president Tony Bordon and innovation and new ventures EVP Fiona O’Carroll will both depart. News broke last week that the publisher will merge its Education Group into the company as a whole, with Zecher leading the organization.

These changes were outlined in a memo that HMH CEO Linda K. Zecher sent to employees yesterday. Below, we’ve reprinted the entire memo.

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Houghton Mifflin Harcourt to Restructure

GalleyCat has obtained a memo from Houghton Mifflin Harcourt CEO Linda K. Zecher about a major restructuring at the conglomerate publisher.

Below, you can read the memo. Among the many revelations: the publisher will merge its Education Group into the company as a whole with Zecher leading the organization. Education Group president Mike Lavelle will depart along with chief financial officer Michael Muldowney.

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