RE:RE:RE:RE:Harlequin SaleIf not gangbusters it is definately doing better than torstar. Here is more detailed extract from Harper Collins book publishing business segment. I still maintain a mistake to sell. This is a growing business, not declining! I guess that is why Rupert Murdoch is a billionaire and the Torstar shareholders are far from it.
Book Publishing (20% of the Company’s consolidated revenues in the nine months ended March 31, 2017 and 2016) For the three months ended March 31, For the nine months ended March 31, 2017 2016 Change % Change 2017 2016 Change % Change (in millions, except %) Better/(Worse) Better/(Worse) Revenues: Consumer . . . . . . . . . . . . . . . . .
$ 359 $ 343 $ 16 5 % $1,183 $1,164 $19 2 % Other . . . . . . . . . . . . . . . . . . . . .
15 15 — — % 46 49 (3) (6)% Total Revenues ................
374 358 16 4 % 1,229 1,213 16 1 % Operating expenses .............. (267) (251) (16) (6)% (845) (848) 3 — % Selling, general and administrative ................ (70) (71) 1 1 % (224) (230) 6 3 % Segment EBITDA .............. $ 37 $ 36 $ 1 3 % $ 160 $ 135 $25 19 % Revenues at the Book Publishing segment increased $16 million, or 4%, for the three months ended March 31, 2017 as compared to the corresponding period of fiscal 2016. The increase was mainly due to strong sales in the general books category, primarily Hidden Figures by Margot Lee Shetterly and the continued success of Hillbilly Elegy by J.D. Vance, sales of Carve the Mark by Veronica Roth in the Children’s category and the continued expansion of HarperCollins’ global footprint. These increases were partially offset by the negative impact of foreign currency fluctuations, which resulted in a revenue decrease of $6 million, or 2%, for the three months ended March 31, 2017 as compared to the corresponding period of fiscal 2016. Digital sales, which consist of revenues generated through the sale of e-books and digital audio books, represented 22% of Consumer revenues during the three months ended March 31, 2017. Digital sales increased 7% as compared to the corresponding period of fiscal 2016 due to increased audio sales compared to the prior year quarter. Segment EBITDA at the Book Publishing segment increased $1 million, or 3%, for the three months ended March 31, 2017 as compared to the corresponding period of fiscal 2016. Revenues at the Book Publishing segment increased $16 million, or 1%, for the nine months ended March 31, 2017 as compared to the corresponding period of fiscal 2016. The increase was mainly due to strong frontlist and backlist sales in the Christian publishing category, primarily The Magnolia Story by Chip and Joanna Gaines and the continued success of Jesus Calling and Jesus Always by Sarah Young, as well as sales of Hillbilly Elegy by J.D. Vance and the continued expansion of HarperCollins’ global footprint, partially offset by the negative impact of foreign currency fluctuations, which resulted in a revenue decrease of $26 million, or 2%, for the nine months ended March 31, 2017 as compared to the corresponding period of fiscal 2016. Digital sales represented 19% of Consumer revenues during the nine months ended March 31, 2017. Digital sales increased 1% as compared to the corresponding period of fiscal 2016. Segment EBITDA at the Book Publishing segment increased $25 million, or 19%, for the nine months ended March 31, 2017 as compared to the corresponding period of fiscal 2016. The increase was primarily due to the mix of titles as compared to the prior year quarter.