“Our second quarter results demonstrate that our efforts to transform our operations are working. The Federal Express segment delivered operating profit growth despite several headwinds, including the continued weak U.S. domestic demand environment as well as the expiration of our U.S. Postal Service contract,” said Raj Subramaniam, FedEx Corp. president and chief executive officer. “I am proud of the team for continuing to deliver solid service to our customers throughout the Peak season, as we create a more flexible, efficient, and intelligent network.” Consolidated operating results were negatively affected by lower-than-expected FedEx Freight revenue and profit, as sustained weakness in U.S. industrial production continued to pressure less-than-truckload industry demand. The lower FedEx Freight results were mostly offset by cost reduction benefits at Federal Express from DRIVE program initiatives and higher base yields at each transportation segment.

Total revenues across all categories for October 2024 were up 8.3% as compared to October 2023, coming in at $1.4 billion. Year-to-date revenues were up 7.1%, at $12.1 billion for the first ten months of the year. Trade (Consumer Books) revenues were up 7.3% in October at $1.1 billion. In terms of physical paper format revenues during the month of October, in the Trade (Consumer Books) category, Hardback revenues were up 8.8%, coming in at $487.9 million; Paperbacks were up 6.2%, with $321.4 million in revenue; Mass Market was up 11.7% to $10.1 million; and Special Bindings were up 1.5%, with $27.2 million in revenue. Year-to-date Trade revenues were up 6.9% at $7.9 billion for the first ten months of the year. Hardback revenues were up 7.5%, coming in at $2.9 billion; Paperbacks were up 3.8%, with $2.7 billion in revenue; Mass Market was down 16.2% to $101.1 million; and Special Bindings were up 4.3%, with $187.4 million in revenue.

McClatchy has completed its merger with accelerate360 and formed a new entity called McClatchy Media Company (MMC), which it claims reaches 100 million unique visitors per month. Announced in August, the merger combines McClatchy's 30 news products, including The Miami Herald, The Kansas City Star, The Sacramento Bee and the Fort Worth Star-Telegram, and accelerate360's lifestyle brands such as Us Weekly, Woman's World and Soap Opera Digest. “The combination creates many opportunities to leverage our digital platform at scale, provide additional original content offerings to consumers, and targeted audience access to our marketing partners,” says Tony Hunter, chairman and chief executive officer of MMC.

Torstar, Postmedia, The Globe and Mail, The Canadian Press, and CBC/Radio-Canada filed a legal action against OpenAI. News media companies invest hundreds of millions of dollars into reporting Canadians’ critical stories, undertaking investigations and original reporting, and distributing media in both official languages in every province and territory across this country. The content that Canadian news media companies produce is fact-checked, sourced and reliable, producing trusted news and information by, for, and about Canadians. This requires significant investment, and the content produced by news media companies is copyrighted. News Media Companies welcome technological innovations. However, all participants must follow the law, and any use of intellectual property must be on fair terms.

Net sales for the first quarter increased 7.5 percent, to $60.99 billion from $56.72 billion last year. Net income for the quarter was $1,798 million, $4.04 per diluted share, compared to $1,589 million, $3.58 per diluted share, last year. This year’s results included a tax benefit of $100 million, $0.22 per diluted share, related to stock-based compensation. Last year’s results included a tax benefit of $44 million, $0.10 per diluted share, also related to stock-based compensation. Costco currently operates 897 warehouses, including 617 in the United States and Puerto Rico, 109 in Canada, 41 in Mexico, 36 in Japan, 29 in the United Kingdom, 19 in Korea, 15 in Australia, 14 in Taiwan, seven in China, five in Spain, two in France, and one each in Iceland, New Zealand and Sweden. Costco also operates e-commerce sites in the U.S., Canada, the U.K., Mexico, Korea, Taiwan, Japan and Australia.

With two weeks remaining before Christmas Day (Wednesday, Dec. 25), the U. S. Postal Service today reports exceptional service performance during the peak holiday rush and expects continued success throughout the season, including the busiest week of the year — the week just before Christmas. Through the substantial progress the Postal Service has made under its 10-year Delivering for America plan — a $40 billion investment aimed at modernizing and reinvigorating the organization — USPS has met the challenge of the year’s peak surge in mail and package volume with expanded processing capabilities, optimized transportation strategies, enhanced operational precision and the dedication of more than 640,000 employees nationwide. The continued transformation of the Postal Service has led to significant cost savings, increased service reliability and enhanced service performance. Currently, 98 percent of the nation’s population receives their mail and packages in an average of 2.6 days.

Hearst Magazines today announced the acquisition of MotorTrend Group, a Warner Bros. Discovery business, comprised of MotorTrend and a diversified portfolio of automotive digital, direct-to-consumer, social, print and live-event brands. The announcement was made by Steven R. Swartz, president and CEO of Hearst; Debi Chirichella, president of Hearst Magazines; and Alex Wellen, CEO and president of MotorTrend Group, whose auto-focused brands include MotorTrend, Hot Rod, Roadkill, Automobile, among others. Terms were not disclosed. MotorTrend Group will expand Hearst’s collection of brands for car enthusiasts and buyers providing even more up-to-the-minute content, commerce and community. MotorTrend Group’s vast portfolio embodies car culture from electric vehicles to timeless classic customs, reaching over 30 million users every month. Its robust events business draws approximately 500,000 passionate enthusiasts every year to iconic experiences such as HOT ROD Drag Week, Roadkill Nights and the Japanese Automotive Invitational at Pebble Beach.

“Adobe delivered record FY24 revenue, demonstrating strong demand and the mission-critical role Creative Cloud, Document Cloud and Experience Cloud play in fueling the AI economy,” said Shantanu Narayen, chair and CEO, Adobe. “Our highly differentiated technology platforms, rapid pace of innovation, diversified go-to-market and the integration of our clouds position us for a great year ahead.” “Adobe drove FY24 records of $21.51 billion in revenue, $8.06 billion in cash flows from operations and $19.96 billion in RPO,” said Dan Durn, executive vice president and CFO, Adobe. “Adobe’s strategy, AI innovation and massive cross-cloud opportunity position us well for 2025 and beyond.”

Good morning, Chairman Comer, Ranking Member Raskin, and Members of the Committee. I appreciate the opportunity to once again discuss the significant progress the U.S. Postal Service is making in accomplishing the objectives identified in the Delivering for America plan. When I agreed to take on the role as Postmaster General, the nation was in the beginning of a pandemic and the Postal Service was in an organizational crisis, facing a diverse array of challenges that put the organization on an accelerating and near-term trajectory to financial and service collapse. The Postal Service had lost almost $90 billion, was projected to lose another $200 billion over the next 10 years and was about to run out of cash before the year end.

Box, Inc., the leading Intelligent Content Management platform and Adobe announced a partnership that will redefine how digital media is managed, created and shared in the enterprise. Adobe Express will be generally available as the default image editor in Box, empowering every Box user to easily create more engaging content without leaving Box’s secure platform. Adobe Express brings the best of Adobe’s industry-leading creative tools into an app everyone can use. Features in Adobe Express powered by Adobe Firefly generative AI are designed to be safe for business so enterprises can deploy them broadly – with confidence. With the new capabilities generally available through the Adobe Express integration, Box enterprise customers will have the ability to empower millions of individuals and teams to create the content they need for their jobs quickly and easily. Using the Adobe Express integration in Box, marketers can edit images for their next campaign, HR teams can customize compelling training content, and sales teams can develop high-impact content for their next pitch – all within their secure Box workflows, enhancing Box’s Intelligent Content Management solution.

Third Quarter Highlights: *Macy’s First 50 locations delivered third consecutive quarter of comparable sales growth, up 1.9%. *Bloomingdale’s reported comparable sales growth of owned and owned-plus-licensed-plus-marketplace of 1.0% and 3.2%, respectively. *Bluemercury reported comparable sales growth of 3.3%. “Our third quarter results reflect the positive momentum we are building through our Bold New Chapter strategy,” said Tony Spring, chairman and chief executive officer of Macy’s, Inc. “We are encouraged by the consistent sales growth in our Macy's First 50 locations and the strong performance of Bloomingdale's and Bluemercury. Quarter-to-date, comparable sales continue to trend ahead of third quarter levels across the portfolio. Looking ahead, we remain committed to achieving sustainable, profitable growth for Macy’s, Inc.”

*High-single digit revenue growth in Learning from favorable market conditions and AI licensing. *Low single digit revenue growth in Research from solid demand to publish and modest improvement in Research Solutions offsetting a large year-over-year swing in legacy print and licensing revenue. *Continued strong margin improvement and EPS growth. *GAAP Results: Revenue of $427 million vs. $493 million in prior year due to foregone revenue from divested businesses, Operating Income of $64 million (+39%). “ Continuous improvement is a way of life for us now, and it’s beginning to pay off in our quality growth and margin expansion,” said Matthew Kissner, Wiley President and CEO. “Learning has had a good year so far, both Academic and Professional, and Research delivered low-single digit growth with leading indicators and favorable comparisons signaling a better second half ahead. Additionally, we continue to see interest from tech companies and other corporate LLM developers for our high-value content and data to train and commercialize AI models.”

The Association of American Publishers announced the final resolution of Hachette Book Group v. Internet Archive, after Internet Archive declined to file a cert petition with the U.S. Supreme Court by the December 3, 2024 deadline. We are pleased that the Second Circuit’s September 4, 2024 opinion stands as the eloquent legal ending to this case, as it draws extensively on Supreme Court precedent and will be broadly impactful to other controversies, including artificial intelligence cases. “After five years of litigation, we are thrilled to see this important case rest with the decisive opinion of the Second Circuit, which leaves no room for arguments that ‘controlled digital lending’ is anything more than infringement, whether performed by commercial or noncommercial actors, or aimed at authorship that is creative or factual in nature. As the Court recognized, the public interest—and the progress of art and science that is the mandate of the Constitution’s copyright clause—is served best when authors and their publisher licensees can decide the terms on which they make their works available. We are indebted to Hachette, HarperCollins, Penguin Random House, Wiley, their authors, and the many amici in this case who stood up for copyright, without which we would be a less inspired and less informed society.”

Savvas Learning Company, a next-generation K-12 learning solutions leader, is pleased to announce that its Texas myView Literacy has been approved by the Texas State Board of Education (SBOE) for inclusion on the state’s new list of high-quality instructional materials (HQIM) for K-5 English language arts and reading and Spanish language arts and reading. Combining powerful Science of Reading-based instruction with engaging student-centered practice opportunities, Texas myView Literacy is a full-subject (core), evidence-based instructional program for grades K–5 designed to develop strong readers and writers. Savvas developed its Texas-specific myView Literacy, which is also available in Spanish as miVisión Lectura, to support educators and improve student academic outcomes while also aligning with all of the state’s educational standards, known as the Texas Essential Knowledge and Skills (TEKS) with phonics components included.

Savvas Learning Company, a next-generation K-12 learning solutions leader, today released findings from its first annual Savvas Educator Index, revealing administrators are more optimistic than teachers about the future of the teaching profession, student motivation, and the role of AI in the classroom. However, the national survey also shows agreement among educators on solutions to close the optimism gap and enhance student success. The 2024 Savvas Educator Index is designed to understand educators’ perspectives on key issues shaping K-12 education today. Its findings reflect insights from a nationwide survey of more than 1,600 K-12 educators, including teachers as well as school and district administrators.

The British Columbia Maritime Employers Association has locked out more than 700 supervisors at ports throughout British Columbia. At the same time, a strike at the Port of Montreal, the biggest port in eastern Canada, continues to cause problems. The strike has already led to partial closures, affecting 40% of the port’s container traffic. Shipping delays could quickly add up, potentially disrupting important international shipments and creating significant economic challenges for global businesses and consumers. The West Coast ports are essential, managing about $576 million in daily trade and serving as a key part of North America’s ports, railroads, and trucking network. However, a long-lasting strike could seriously disrupt this system, causing problems across the supply chain.

Cyber Monday 2024 results overtook totals from the same day in 2023 to reach the highest U.S. online sales for any day historically, once again beating projections, according to Adobe Analytics data. Adobe Analytics had projected U.S. consumers would spend $13.2 billion online on Cyber Monday 2024, which already would have been a record. Then, consumers exceeded that by $100 million, spending $13.3 billion on Cyber Monday this year. That’s 7.3% more than they spent in 2023.

The United States Postal Service released its 2024 Post-Election Analysis Report, outlining the agency's steps to process more than 99.22 million ballots in the 2024 general election. The full report can be read here: 2024 Post-Election Analysis Report. “In 2024, the Postal Service once again admirably performed our role of efficiently and effectively delivering the nation’s ballots,” said Postmaster General Louis DeJoy. “As we continue to transform the nation’s postal network to better meet the demands of the modern mailing and shipping customer, we stand ready to work with policymakers at all levels to make the nation’s effective vote by mail process even stronger.” The Postal Service’s success in 2024 was the result of a deepened focus on operational precision and integrated communications, the engagement of the USPS Election and Government Mail Services team and execution of longstanding, proven operational processes and procedures, including extraordinary measures.

The Postal Regulatory Commission will conduct a hearing at PRC offices on December 4, 2024, at 10 am regarding planned changes to the Postal Service’s processing and transportation networks. Docket No. N2024-1. The hearing will also be streamed for persons interested in remote viewing of the hearing. Information on attending the hearing and registration deadlines, is provided below and in the Commission’s filing at: https://prc.arkcase.com/api/prc-dockets/filing/downloadFile?fileId=226594&inline=true In-person attendance: 901 New York Avenue, Suite 200. Washington, DC 20236. Remote viewing: www.youtube.com/@thepostalregulatorycommiss9709. Reporters and media outlets should rsvp to Gail Adams at: gail.adams@prc.gov. Registration deadline: The deadline to register for attendance is December 2, 2024.

Urban Outfitters, Inc. announced record third quarter net income of $102.9 million and earnings per diluted share of $1.10 for the three months ended October 31, 2024. For the nine months ended October 31, 2024, net income was $282.2 million and earnings per diluted share were $2.99. Total Company net sales for the three months ended October 31, 2024, increased 6.3% to a record $1.36 billion. Total Retail segment net sales increased 3.2%, with comparable Retail segment net sales increasing 1.5%. The increase in Retail segment comparable net sales was driven by low single-digit positive growth in both digital channel sales and retail store sales. Comparable Retail segment net sales increased 5.8% at Anthropologie and 5.3% at Free People and decreased 8.9% at Urban Outfitters. Nuuly segment net sales increased by 48.4% primarily driven by a 51% increase in average active subscribers in the current quarter versus the prior year quarter.

Nordstrom, Inc. reported third quarter net earnings of $46 million, or earnings per diluted share of $0.27, and earnings before interest and taxes of $83 million. Excluding a charge related to accelerated technology depreciation, the Company reported adjusted EBIT of $97 million and adjusted EPS of $0.33.[1] For the third quarter ended November 2, 2024, net sales increased 4.6 percent versus the same period in fiscal 2023, and total Company comparable sales increased 4.0 percent. Gross merchandise value increased 5.3 percent. Anniversary Sale timing, with one week shifting from the third quarter to the second quarter, had a negative impact of approximately 100 basis points on net sales compared with 2023. During the quarter, Nordstrom banner net sales increased 1.3 percent and comparable sales increased 4.0 percent. Net sales for Nordstrom Rack increased 10.6 percent and comparable sales increased 3.9 percent. "The continued sales growth across the company and strong gross margin in the third quarter indicate our team's focus and efforts are working," said Erik Nordstrom, chief executive officer of Nordstrom, Inc. "Our customers have a lot of choices, and our results give us encouragement that we're on the right path. Looking ahead, we'll continue to improve our shopping experience as we strive to maintain the positive momentum we've worked towards all year."

The Association of American Publishers (AAP) released its StatShot report for September 2024 reflecting reported revenue for Trade (Consumer Books), Religious Presses, Higher Education Course Materials, and Professional Publishing. Total revenues across all categories for September 2024 were up 2.4% as compared to September 2023, coming in at $1.5 billion. Year-to-date revenues were up 7.0%, at $10.8 billion for the first nine months of the year. Trade (Consumer Books) revenues were roughly flat in September, down 0.9% at $911.5 million. In terms of physical paper format revenues during the month of September, in the Trade (Consumer Books) category, Hardback revenues were up 3.2%, coming in at $400.1 million; Paperbacks were down 12.6%, with $263.2 million in revenue; Mass Market was down 22.1% to $9.1 million; and Special Bindings were down 1.0%, with $27.2 million in revenue. eBook revenues were up 4.0% for the month as compared to September 2023 for a total of $90.5 million, and the Digital Audio format was up 28.1% for September, coming in at $89.7 million in revenue. Physical Audio was down 51.1% coming in at $800 thousand.

The United States Postal Service is primed and ready to deliver exceptional service during the 2024 holiday rush thanks in large part to the investments and strategies identified in its 10-year Delivering for America plan. Today, the Postal Service provided updates on its peak holiday season preparations, as well as its readiness to deliver another successful holiday season of extraordinary service. “Thanks to the substantial progress we have made under the Delivering for America plan, we are ready and confident to handle the holiday surge,” said USPS Chief Retail and Delivery Officer and Executive Vice President Dr. Joshua Colin. “Our ability to move packages and mail throughout our network has never been stronger. USPS continues to be the most affordable and reliable way to ship packages and mail this holiday season and year-round.”

Despite an uncertain economic landscape, the overwhelming majority of retailers are feeling positive about their current business health. That’s according to a new third-quarter survey from cash-back partner Upside, which reveals that of 1,806 retailers across 10 categories, 61% say their current outlook is “excellent,” a 14-point increase over the first quarter of this year. In all, 96% of respondents feel positively about the current state of their business, which is up by eight percentage points over the first quarter, when 92% felt positively about current business health. Upside’s survey found that with increased optimism, retailers are looking to expand their brick-and-mortar presence. The number of retailers focused on opening new stores has increased by seven points, from 19% a year ago to 26% today.

After word spread this spring that Costco was planning to implement a "holiday season model," selling books only in the final three months of the year starting in 2025, various sources now say the mass merchandiser has committed to keeping bookstore sections year-round in 100 of its more than 600 locations. The remaining stores will move to the September-December bookselling model, and publishers will also have the opportunity to sell promotional pallets in stores. Costco had no comment on the report. While overall sales to Costco will almost certainly decline, the news still comes as a relief to publishers. Costco, along with other mass merchandisers such has Walmart and Target, has become an important bricks-and-mortar outlet for print books. Not only do they have the capability of selling tens-of thousands copies of a title, but they serve as important places for consumers to discover new titles not typically sold in other stores and which can be difficult to find online.

“We delivered third quarter sales in line with expectations as we continued to make traction on our Bold New Chapter strategy initiatives,” said Tony Spring, chairman and chief executive officer of Macy’s, Inc. “Our Macy's First 50 locations achieved their third consecutive quarter of comparable sales growth. At the same time, our luxury brands, Bloomingdale's and Bluemercury, reported positive comparable sales. Importantly, November comparable sales are trending ahead of third quarter levels across nameplates.” Macy’s, Inc. net sales decreased 2.4% to $4.742 billion, with comparable sales down 2.4% on an owned basis and down 1.3% on an owned-plus-licensed-plus-marketplace basis. Sales growth at Macy’s First 50 locations, Bloomingdale’s, and Bluemercury was offset primarily by weakness in Macy’s other non-First 50 locations as well as its digital channel and cold weather categories. Macy’s, Inc. go-forward business 1 comparable sales were down 2.0% on an owned basis and down 0.9% on an owned-plus-licensed-plus-marketplace basis.

Montreal-based software company Valsoft Corporation has acquired Above the Treeline, Inc., developer of the digital platform Edelweiss, marking its second major investment in publishing industry software following its majority stake purchase in Klopotek in August 2023. Edelweiss hosts 95% of U.S. frontlist titles and serves as a central workflow hub focusing on frontlist and backlist sales management, as well as analytics, workflow tools, and other related activities for publishers, booksellers, and librarians. It is, along with Netgalley, the major platform for digital review copies. It serves some 1,200 companies and has 250,000 users.

“While we continue to operate in a challenging advertising marketplace dominated by large, foreign media platforms, Postmedia achieved some important milestones during the quarter that give us optimism around the future of Canadian news media. It is clear from our digital audience that Canadians look to us to provide accurate and timely local, provincial, and national news,” said Andrew MacLeod, President and CEO. “We are appreciative of the Ontario government’s recent policy change to support local media in Ontario. We hope to see similar initiatives from governments and corporate Canada. We are encouraged by the successful completion of the C-18 negotiations and look forward to the release of funding. The improving environment gave us confidence to both step into a challenging situation in Atlantic Canada and save local news brands that have operated in those provinces for over 150 years and to invest millions of dollars in a new digital platform with improved capabilities.

The United States Postal Service (USPS) has announced a proposal for new postage rates set to take effect in early 2025, citing the need to stay competitive and increase revenue. If approved, the change would raise Shipping Services prices by approximately 3.2 percent for Priority Mail service and Priority Mail Express service, 3.9 percent for USPS Ground Advantage, and 9.2 percent for Parcel Select, according to the announcement on the service's website. The proposed pricing action is part of "Delivering for America," the agency's 10-year plan for "achieving financial sustainability and service excellence."

Walmart Inc. announces third-quarter results with strong growth in revenue and operating income. Globally, eCommerce grew 27% with penetration up across all segments. Walmart U.S. comp sales up 5.3%2 with positive growth in general merchandise. Looking ahead, the Company raises its guidance for FY25 with net sales expected to grow 4.8% to 5.1% and adjusted operating income to grow 8.5% to 9.25% in constant currency (“cc”)1. “We had a strong quarter, continuing our momentum. Our associates are working hard to save people time and money and to transform our business. In the U.S., in-store volumes grew, pickup from store grew faster, and delivery from store grew even faster than that. Our teams are executing and delighting our customers and members with the value and convenience they expect from Walmart.” Doug McMillon President and CEO, Walmart.

Barnes & Noble announces the sale of Sterling Publishing Co. Inc. to Hachette Book Group. The publisher was acquired by Barnes & Noble in 2003 and now includes adult imprints Union Square & Co., Puzzlewright Press, Sterling Ethos and Spark Notes, as well the children’s imprints Union Square Kids and Boxer Books; and the gift and stationery publishers Knock Knock and Em & Friends. It is the publisher of New York Times bestselling author/illustrator Mo Willems, recent New York Times bestselling authors Caroline Chambers and Dan Pelosi, and acclaimed authors Melissa Blair, L.S. Stratton, and Dusti Bowling, among others, as well as a dynamic program of literary classics. Sterling has been led by Emily Meehan since 2021 who oversaw the rebranding in January 2022 to Union Square & Co., influenced by its New York City’s Union Square Park headquarters. The company will remain under the leadership of Emily, who will report into Ben Sevier, President and Publisher of the Grand Central Publishing Group, a division of Hachette Book Group. All Sterling Publishing Co. Inc.’s staff, publishing assets and trademarks will transfer to Hachette Book Group.

The U.S. Postal Service announced its financial results for the 2024 fiscal year ended September 30. Controllable loss, which excludes certain expenses that are not controllable by management, was $1.8 billion for the year, compared to over $2.2 billion for the prior year. The net loss for the year under generally accepted accounting principles (GAAP) totaled $9.5 billion, compared to a net loss of $6.5 billion for the prior year, an increase of $3.0 billion primarily attributed to the year-over-year increase in non-cash workers’ compensation expense. Over 80% of our current year net loss is attributed to factors that are outside of management's control, specifically, the amortization of unfunded retiree pension liabilities and non-cash workers' compensation adjustments. “Our pricing and product strategies are continuing to improve our revenue picture and fuel market share gains in our package business, demonstrating the increasing competitiveness of the Postal Service,” said Postmaster General Louis DeJoy. “While we continue to reduce our costs, there remain many economic, legislative and regulatory obstacles for us to overcome. We look forward to continuing our focus on transforming and modernizing the Postal Service, driving revenue, reducing the cost to deliver, improving operational performance, and positioning the organization for long-term financial sustainability.”

Particle, an AI-driven technology firm created by ex-Twitter engineers, is offering to help publishers sharpen their news presentation with AI and assist consumers in understanding the news. The company promises to compensate publishers and help them drive traffic, TechCrunch reports. It will also link to sources directly underneath its AI summaries. Particle is partnering with such publishers as Reuters, AFP and Fortune to host their content in its app via their APIs, TechCrunch adds.

The increased presence of screens in today’s classrooms has prompted educators to reassess the role of traditional print materials in student learning. As concerns about digital burnout, comprehension challenges, and digital platform security grow, schools find that print-based resources offer numerous advantages. These include improved comprehension, reduced screen fatigue, and a more focused, secure learning environment. With recent shifts toward print in media and education, schools recognize the need to balance digital and print resources to create a more effective, well-rounded learning experience. Research continues to show that students retain and understand information better when reading from paper as opposed to digital screens. In May educational neuroscientists at Teachers College, Columbia University published a study that conducted brain imaging of 59 middle-schoolers from New York City after reading text on paper and text on a screen.

Costco Wholesale Corporation reported net sales of $20.03 billion for the retail month of October, the four weeks ended November 3, 2024, an increase of 7.2 percent from $18.68 billion last year. Net sales for the first nine weeks were $44.65 billion, an increase of 8.0 percent from $41.33 billion last year.

Commenting on the results, Chief Executive Robert Thomson said: “We have begun Fiscal 2025 robustly, with record first quarter revenue, strong net income and record first quarter profitability. Revenue rose 3 percent year-over-year to $2.58 billion, while our net income jumped 148 percent to $144 million. Total Segment EBITDA surged 14 percent to $415 million, and our EPS were 21 cents compared to 5 cents in same quarter last year. That we have achieved these record first quarter results in macro-conditions which are far from auspicious is compelling evidence of the successful transformation of News Corp over the past decade. Meanwhile, the just-completed election has highlighted the importance of trusted journalism in a media maelstrom in which some journalists mistake virtue signaling for virtue. Artificial intelligence recycles informational infelicities and it is critical that journalistic inputs have integrity, which is why our partnership with OpenAI is so crucial and why we intend to sue AI companies abusing and misusing our trusted journalism. Dow Jones and the New York Post have started proceedings against the perplexing Perplexity, which is selling products based on our journalism, and we are diligently preparing for further action against other companies that have ingested our archives and are synthesizing our intellectual property.”

The Basic Books Group, a division of Hachette Book Group, will add two new imprints to its portfolio following the promotion of Lara Heimert to president and publisher of the group, HBG and Hachette UK CEO David Shelley announced on November 7. Basic Venture, a business and economics imprint, will be led by editorial director Colleen Lawrie and executive editor Emily Taber, while Thomas Spence, the former president and publisher of Regnery Publishing, will lead Basic Liberty, a conservative imprint, as executive editor. “The Basic Books Group has seen fantastic growth and success in recent years,” Shelley said in a statement.“They know their readership incredibly well and are able to serve their desire for serious non-fiction publishing by the leading authors in their fields across a range of different topics. Lara has grown and steered the group with incredible vision and precision; her promotion, and the investments we’re making with the two new imprints and other promotions and hires, are testament to the further potential for growth we see in this space and with this skilled team.”

Meredith Kopit Levien, president and chief executive officer, The New York Times Company, said, “The third quarter was another strong one for The Times as we made further progress toward becoming the essential subscription for every curious person seeking to understand and engage with the world. We passed 11 million total subscribers in the quarter, more than five million of whom now subscribe to the bundle or multiple products. Our world-class news coverage and premium lifestyle products meet complementary user needs, and drive revenue growth across subscriptions, advertising, affiliate and licensing. We believe that portfolio, and our ability to keep adding value to it over time, is what makes The Times resilient in a changing media landscape, and well-positioned to become a larger, more profitable company.” Key Highlights • The Company added approximately 260,000 net digital-only subscribers compared with the end of the second quarter of 2024 bringing the total number of subscribers to 11.09 million. • Growth in both digital subscribers and ARPU drove a year-over-year increase in digital subscription revenues of 14.2 percent.

Amazon Web Services announced the launch of the Generative AI Partner Innovation Alliance. The Generative AI Partner Innovation Alliance will help scale and expand the reach of the Generative AI Innovation Center (GenAIIC) - a program that helps customers successfully build and deploy generative AI solutions. Initially launched in June 2023, the GenAIIC connects customers with AWS AI/ML scientists and strategy experts, and helps companies envision, identify, and develop generative AI solutions. Since its inception, the GenAIIC has helped thousands of customers, including DoorDash, Nasdaq, the PGA TOUR, achieve success with generative AI. In fact, more than 50% of the proof-of-concept solutions developed through the GenAIIC are now in production for customers.

“As we get into the holiday season, we’re excited about what we have in store for customers,” said Andy Jassy, Amazon President & CEO. “We kicked off the holiday season with our biggest-ever Prime Big Deal Days and the launch of an all-new Kindle lineup that is significantly outperforming our expectations; and there’s so much more coming, from tens of millions of deals, to our NFL Black Friday game and Election Day coverage with Brian Williams on Prime Video, to over 100 new cloud infrastructure and AI capabilities that we’ll share at AWS re:Invent the week after Thanksgiving.” Net sales increased 11% to $158.9 billion in the third quarter, compared with $143.1 billion in third quarter 2023. Excluding the $0.2 billion unfavorable impact from year-over-year changes in foreign exchange rates throughout the quarter, net sales increased 11% compared with third quarter 2023. Operating income increased to $17.4 billion in the third quarter, compared with $11.2 billion in third quarter 2023.

The Book Manufacturers’ Institute (BMI) has announced the latest recipient of Signature Award, as well as three new members to the Cased-in Club. The honors, which were presented Monday evening October 28th at the Awards Banquet at the Fall Annual Conference in Naples, Florida, recognize BMI members who not only contribute to the success of their organization, but also to the continued success of the book manufacturing industry. Matt Baehr, Executive Director of BMI, said, “This esteemed group of award recipients has made a lasting impact on book manufacturing over the years. I am delighted to honor their achievements, celebrating not only their personal successes but also the significant influence they have had on the entire book industry.”

"We continued to make solid progress on our key priorities in the third quarter while delivering another quarter of year-overyear Adjusted EBITDA growth. Three out of four digital revenue categories experienced further trend improvement year-overyear, and as a result, total digital revenues surpassed 45% of total revenues, representing an all-time high. These results reinforce our belief that we have created a sustainable pathway for ongoing growth moving forward. We also significantly increased our free cash flow by 168% year-over-year. Additionally, within the quarter, we repaid approximately $29 million of debt, which combined with our Adjusted EBITDA growth, reduced our first lien net leverage to 1.76x. It is also important to note that some of our strategic decisions impacted total reported revenue in the third quarter, such as the intentional closure or divestiture of certain businesses in our portfolio. These actions were in-line with our long-term strategy and did not materially impact Adjusted EBITDA," said Michael Reed, Gannett Chairman and Chief Executive Officer. "In the third quarter, our audience surpassed 200 million average monthly unique visitors for the first time in our history, reflecting growth of over 7% compared to the prior year period. Furthermore, in the third quarter, we announced an additional partnership with BetMGM, which is expected to enhance the monetization of our content platform."

Adaptive learning company HMH announced HMH Performance Suite–a first-of-its-kind teaching and learning solution that integrates assessment, Tier 1 curriculum and instruction to harmonize K-12 classroom teaching practices on a single platform. The launch of Performance Suite signals a major milestone in the integration of HMH’s high-quality instructional materials and NWEA’s leading assessments. Performance Suite provides robust day-to-day support for educators across the entire instructional cycle, encompassing planning, teaching, assessment, analysis and professional learning features within a streamlined, user-friendly interface. The current edtech ecosystem frequently calls upon educators to leverage multiple disparate solutions to accommodate their daily workflow. Performance Suite is built to bridge these gaps and facilitate meaningful and immediately actionable connections between assessment data and curriculum delivery.

Total revenues across all categories for August 2024 were up 8.5% as compared to August 2023, coming in at $1.7 billion. Year-to-date revenues were up 7.8%, at $9.3 billion for the first eight months of the year. Trade (Consumer Books) revenues were up 13.4% in August, coming in at $848.2 million. In terms of physical paper format revenues during the month of August, in the Trade (Consumer Books) category, Hardback revenues were up 17.1%, coming in at $297.4 million; Paperbacks were up 6.7%, with $302.0 million in revenue; Mass Market was down 35.8% to $8.6 million; and Special Bindings were up 3.6%, with $21.5 million in revenue. eBook revenues were up 6.1% for the month as compared to August 2023 for a total of $90.4 million, and the Digital Audio format was up 38.8% for August, coming in at $93.9 million in revenue. Physical Audio was down 54.8% coming in at $600 thousand.

Savvas Learning Company, a next-generation K-12 learning solutions leader, is excited to announce that enVision Mathematics© 2024, the newest edition of its proven-effective math series for grades K-12, has received the highest rating of “All-Green” from EdReports. The classroom-tested, teacher-loved enVision K-12 math series provides evidence-based, standards-aligned content, combined with personalized adaptive learning, to support all students in developing deep conceptual math understanding, procedural skills, and fluency. The new edition offers expanded digital resources and even more high-interest, student-centered activities that engage learners in real-world, meaningful math. Also included are a variety of new instructional support tools to save teachers time while providing them flexibility for lesson planning. Offering vertical alignment from kindergarten through grade 12, the curriculum is designed to provide continuity from year-to-year — something that school districts like Johnston County Public Schools in North Carolina value.

The Association of American Publishers (AAP) joined forces with more than 10,000 creators and coalition partners, including authors, musicians, actors, artists, and photographers, to condemn the theft of creative and intellectual authorship by big tech companies for use in their Generative AI models. In fact, these consumer-facing models and tools would not exist without the books, newspapers, songs, performances, and other invaluable human expressions that were—and continue to be—copied, ingested, and regenerated in blatant disregard of the law. This is a crucial time for AI policy development globally, as authors and their publishers call on their governments and courts to uphold the most fundamental of copyright principles: Reproducing works of authorship, and creating derivatives of them, requires the clear consent of those who created, invested in, and otherwise made them possible in the first place. “The Association of American Publishers is proud to stand with thousands of creators and partner organizations to highlight that human authorship is the basis of Generative AI,” said Maria A. Pallante, President and CEO. “What is true is that creators operate in service to a well-read, informed, and inspired global public, not the unsanctioned, unregulated profits of big tech companies. It goes without saying that technology collaborations are a key part of publishing, but they are built on lawful licenses and respect, not a land grab.”

Specialty outdoor retailer REI Co-op today announced its lineup of 2025 store openings as part of the company’s efforts to support the active lifestyles of its membership and outdoor communities. Stores will open in six communities next spring and summer, including the California cities of Carlsbad, Chico and Elk Grove as well as in Amherst, New York; Durango, Colorado; and Lynnwood, Washington. The company also shared its intent to open in Prosper, Texas in 2026, which joins a previously announced St. George, Utah store. Additional stores for 2026 will be announced as leases are finalized. “Our store employees are the heart of the co-op, and they welcome everyone to experience our product expertise, resources and inspiration in support of an active lifestyle,” said Mary-Farrell Tarbox, REI vice president of Stores. “Cities that will have new stores represent communities that serve as a gateway to some of the country’s most incredible natural places and where our members currently live or destinations where they love to play outside.”

Owner Bedford Media has appointed Jamie Reid as global creative director of the product and Steff Yotka as global editorial director, according to The Business of Fashion. The bi-annual print magazine will appear in March of 2025 for the first time since 2019, when it was owned by Vice Media. Bedford Media acquired it in 2023.

At the Frankfurt Book Fair, Wiley announced the launch of Wiley AI Partnerships: A Co-Innovation Program. This initiative aims to develop new AI applications, assistants, and agents in partnership with innovative companies, to empower researchers and practitioners and help drive the pace, efficiency and accuracy of scientific discovery. A new Wiley survey revealed that 69% of researchers want to keep up with or be ahead of the curve in AI adoption in their field. At the same time, they require better tools to streamline their research and are looking for guidance and training about how to use AI responsibly and effectively. This new program is intended to help solve these challenges in collaboration with partner companies and researchers with the goal of improving the efficiency and caliber of research worldwide. “Researchers and practitioners are seeking more than generic AI tools – they need relevant applications that enhance and support their research endeavors. This new partnership program is designed to meet these needs by inviting collaboration with start-ups and scale-ups to deliver specialized AI solutions,” said Josh Jarrett, Senior Vice President and General Manager for AI Growth at Wiley. “Our goal is to accelerate AI tool development to unlock new discoveries, empower researchers to uncover hypotheses, run analyses at scale, simulate experiments before wet lab investment, connect findings to existing research, and enable global collaboration.”

Adaptive learning company HMH today announced HMH Classcraft’s TM AI Summarization tool, which allows teachers to quickly understand student comprehension and adapt instruction in the moment. This innovative tool, powered by generative AI, analyzes open text responses from students working in small groups or individually and provides educators with a quick and insightful summary of how the class is doing, followed by helpful feedback recommendations. This new functionality makes it easier for educators to use proven instructional strategies like “turn and talk,” a common teaching method where peers discuss relevant classroom content with one another. Classcraft allows students to submit written comments during turn and talk conversations, which are then intelligently summarized by the GenAI and shared with the educator.

Savvas Learning Company, a next-generation K-12 learning solutions leader, is excited to introduce Savvas PathMaker, a brand-new, all-in-one solution for college and career readiness that gives students a head start on post-high school success. Designed to offer flexibility for educators and choice for students, Savvas PathMaker delivers an exciting array of online dual-enrollment and career and technical education (CTE) courses that enable students to create their own personalized pathways and gain the skills and confidence to become college and career ready. Featuring the award-winning Outlier by Savvas dual-enrollment courses and the robust catalog of innovative Savvas CTE courses, including many that prepare students for industry-recognized certification exams, Savvas PathMaker gives students the opportunity to discover their passions, develop skills and knowledge, and prepare for the next stage of their life, whether that be college, career, or both.

The U.S. Postal Service is primed and ready to deliver exceptional service during the 2024 holiday rush, thanks to the substantial progress USPS has made under the Delivering for America plan — a $40 billion investment aimed at revitalizing the national postal network. Throughout 2024, USPS has been relentlessly working toward the objectives of its 10-year Delivering for America plan. By harnessing the power of network modernization, an upgraded delivery fleet and the successful launch of the USPS Ground Advantage and USPS Connect services, the Postal Service is building a reenergized, nationwide integrated mail and package network.

Ascending magazine, a periodical designed to inspire and guide women throughout their professional careers, is about to launch its inaugural Fall/Winter 2024 print edition. Each issue will provide essays, stories, advice and interviews in a bid to challenge the norms of the digital landscape. The debut edition is now available as a single issue or as part of an annual subscription.

Lee Enterprises has recognized the Racine NewsGuild as part of the Kenosha Newspaper Guild bargaining unit. This comes less than three weeks after the the Racine (Wisconsin) Journal Times newsroom announced plans to unionize. “We applaud Lee for the voluntary recognition agreement and hope it serves as a model to other newspaper employers dealing with new unions,” the union states. According to the union, four newsroom employees were laid off two days after the Racine NewsGuild went public.

Key highlights include: *Carbon Net-Zero by 2040: In FY24, Wiley’s net-zero strategy, based on targets validated by the Science-Based Targets initiative (SBTi), made solid progress through real estate optimization, energy efficiency upgrades, and supply chain engagement. *UN SDG Impact with Nearly 60,000 Published Articles: In 2023, Wiley published close to 60,000 articles aligned with the United Nations Sustainable Development Goals (SDGs), amplifying its impact on global challenges like quality education, reduced inequalities, and climate action. *Employee Engagement in ESG Initiatives: Wiley employees have contributed to ESG activities, with robust support from the company’s Employee Resource Groups (ERGs) and ESG working groups. *Leadership in Open Access: Authors continue to choose to publish their work in Wiley’s wide array of open access publishing options, ensuring broader exposure to scientific knowledge and supporting the company’s vision to share knowledge widely and inclusively. *Integrity in Publishing with AI Tools: The organization continues to embrace advancements in publishing technology by incorporating AI-driven tools to enhance research integrity.

Adaptive learning company HMH today released the results of its 2024 Educator Confidence Report, marking a decade of this annual report that amplifies the voices of our nation’s educators and highlights the evolving challenges and opportunities in education. The report, based on responses from over 1,200 educators—including teachers and administrators—delves into critical K-12 issues, including mental health, compensation concerns, and the growing role of digital technologies, including generative AI, in transforming classrooms. Over the past 10 years, educators have remained resilient, committed to improving education, and open to adopting new technologies. However, many still feel negatively about the profession. In recent years, the mental health challenges that both students and teachers face have received greater attention, and our report findings underscore how pressing these issues continue to be for educators.

Costco Wholesale Corporation reported net sales of $24.62 billion for the retail month of September, the five weeks ended October 6, 2024, an increase of 9.0 percent from $22.59 billion last year. This year's total and comparable sales for the retail month of September benefitted by approximately two percent in the U.S. and one and one-half percent worldwide as a result of the increased sales in the final week of the month due to abnormal consumer activity associated with Hurricane Helene and port strikes.

Aptar Pharma announces that it has acquired all device technology assets from the proprietary portfolio of SipNose Nasal Delivery Systems, a company focused on intranasal delivery platforms for local, systemic and central nervous system indications. SipNose offers a variety of devices that are designed and adapted to fit a wide range of therapies and offer the opportunity to precisely target areas of the nasal cavity to enable enhanced systemic, local or even direct-to-brain delivery. SipNose’s expanded innovative delivery systems, which include liquid and dry powder intranasal delivery, will further strengthen Aptar Pharma’s nose-to-brain pathway expertise and fuel additional development and new scientific research.

The following are recommended send-by dates for expected delivery before Dec. 25. 2024 Holiday Mailing and Shipping Dates for Items Sent to Addresses in the Contiguous United States (Lower 48 States): USPS Ground Advantage service: Dec. 18; First-Class Mail service: Dec. 18; Priority Mail service: Dec. 19; Priority Mail Express service: Dec. 21. 2024 Holiday Mailing and Shipping Dates for Items Sent to Addresses in Alaska and Hawaii: USPS Ground Advantage service: Dec. 16; First-Class Mail service: Dec. 18; Priority Mail service: Dec. 19; Priority Mail Express service: Dec. 20

Adobe announced a new free web app, Adobe Content Authenticity, designed to help creators protect and receive attribution for their work with Content Credentials. Content Credentials are like a “nutrition label” for digital content, serving as secure metadata that anyone can attach to their work to share information about themselves and provide context about how their content was created and edited. Since founding the Content Authenticity Initiative in 2019, Adobe has championed the widespread adoption of Content Credentials as the industry standard for transparency in digital content, now supported by over 3,700 members. As concerns over misinformation and AI-generated deepfakes have grown, Content Credentials have become a valuable tool for publishers, allowing them to provide key information about digital content to helps consumers assess its trustworthiness. Now with the web app, Adobe is unlocking the full potential of Content Credentials, helping creators protect their work from misuse or misrepresentation and build a more trustworthy and transparent digital ecosystem for everyone.

Total revenues across all categories for July 2024 were up 18.1% as compared to July 2023, coming in at $1.3 billion. Year-to-date revenues were up 7.6%, at $7.6 billion for the first seven months of the year. In terms of physical paper format revenues during the month of July, in the Trade (Consumer Books) category, Hardback revenues were up 25.5%, coming in at $221.4 million; Paperbacks were up 17.9%, with $271.4 million in revenue; Mass Market was down 14.0% to $11.2 million; and Special Bindings were up 13.8%, with $19.4 million in revenue.

The United States Postal Service announced it has filed plans with the Postal Regulatory Commission (PRC) to improve mail processing and transportation and explained how these improvements will align with proposed refinements within its existing service standards for Mail and Package Products. Last month, the Postal Service held a virtual conference about the proposed changes where it solicited feedback from its stakeholders, including the mailing and shipping community and members of the public, to consider their input and ensure the utmost transparency throughout the process and comply with the applicable regulatory processes. Comments received during the virtual conference have been considered and the Postal Service has now filed its formal request asking for an advisory opinion from the PRC. After receiving an advisory opinion from the PRC, the Postal Service will consider the Commission’s opinion and finalize its decision.

U.S. dock workers and port operators reached a tentative deal that will immediately end a crippling three-day strike that has shut down shipping on the U.S. East Coast and Gulf Coast, the two sides said Thursday. The tentative agreement is for a wage hike of around 62% over six years, two sources familiar with the matter told Reuters, including a worker on the picket line who heard the announcement. That would raise average wages to about $63 an hour from $39 an hour over the life of the contract. The deal ends the biggest work stoppage of its kind in nearly half a century, which blocked unloading of container ships from Maine to Texas and threatened shortages of everything from bananas to auto parts, triggering a backlog of anchored ships outside major ports.

President Joseph Biden reappointed Ann C. Fisher and Ashley E. Poling as Commissioners of the Postal Regulatory Commission for new terms that expire on October 14, 2030, and November 22, 2030, respectively. The United States Senate unanimously confirmed both Commissioners on September 25, 2024. The appointments of Commissioner Fisher and Commissioner Poling come at a critical time in the history of the postal industry as the Commission continues to examine the Postal Service’s Delivering for America plan and its effects on service performance nationwide; and conduct its early review of the system for regulating Market Dominant rates.

In yet another major win for freedom to read advocates, a federal judge has ordered the Crawford County Public Library in Arkansas to stop segregating books deemed inappropriate by some local residents into special “social sections,” and to return the books to general circulation. In his September 30 opinion and order, U.S. district court judge P.K. Holmes III held that “it is indisputable” that the creation and maintenance of the library’s so-called social sections “was motivated in substantial part by a desire to impede users’ access to books containing viewpoints that are unpopular or controversial in Crawford County.” In a preliminary injunction, Holmes ordered county officials to dismantle the sections and return the books to general circulation, as well as to refrain from “coercing” library staff to censor books.

Savvas Learning Company, a next-generation K-12 learning solutions leader, is proud to announce that Outlier by Savvas, its innovative online dual-enrollment course offerings, has received Tech & Learning’s 2024 Best Tools for Back to School Award. The annual Best Tools for Back to School award program recognizes outstanding technology that helps schools solve real challenges with solutions offering ease of use, versatility, and value to support effective teaching and learning. Tech & Learning selected Outlier by Savvas as a winner in the secondary education category for outstanding technology that supports educators heading back to school. Outlier by Savvas provides online, asynchronous dual-enrollment courses that enable students to simultaneously earn high school as well as real transferable college credits from the University of Pittsburgh, a top 50 university. A flexible, digital solution that is easy for educators to implement, Outlier meets the needs of school district leaders across the country who are looking to bring high-quality college courses to their high school environments.

The American Forest & Paper Association President and CEO Heidi Brock issued the following statement regarding the recent strike of ILA workers across the U.S. East and Gulf Coast ports. “This strike will have serious consequences for the U.S. economy and the manufacturing sector, including industries like ours that rely heavily on port activity for exporting goods. Without access to ports, our member companies face tough choices, including whether to pause or shut down mills and facilities, putting high-paying jobs in rural areas at risk. “We urge the Biden Administration to work with the ILA and USMX to quickly bring an end to this strike and restore essential ports operations.”

Dockworkers at ports from Maine to Texas began walking picket lines early Tuesday in a strike over wages and automation that could reignite inflation and cause shortages of goods if it goes on more than a few weeks. The contract between the ports and about 45,000 members of the International Longshoremen’s Association expired at midnight, and even though progress was reported in talks on Monday, the workers went on strike. The strike affecting 36 ports is the first by the union since 1977. Workers began picketing at the Port of Philadelphia shortly after midnight, walking in a circle at a rail crossing outside the port and chanting “No work without a fair contract.”

Costco Wholesale Corporation announced its operating results for the 16-week fourth quarter and the 52-week fiscal year ended September 1, 2024. For the 16-week fourth quarter, the Company reported net sales of $78.2 billion, an increase of 1.0 percent compared to net sales of $77.4 billion in the 17-week fourth quarter of fiscal year 2023. For the 52-week fiscal year, the Company reported net sales of $249.6 billion, an increase of 5.0 percent from $237.7 billion reported in the 53-week fiscal year 2023.

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On September 23, 2024, the Association of American Publishers, along with the American Booksellers for Free Expression, Authors Guild, Comic Book Legal Defense Fund, Freedom to Read Foundation, and Independent Book Publishers Association filed an amicus brief supporting the Free Speech Coalition in the Supreme Court case Free Speech Coalition v. Paxton. The brief argues that Texas law HB 1181, which requires age-verification on websites where over one-third of the content is considered “harmful to minors,” violates the First Amendment because it will impede access by adults and older minors to constitutionally protected materials, including contemporary fiction, literary classics, young adult fiction, and health books. The brief also argues that the Fifth Circuit’s failure to apply strict scrutiny amounted to a radical departure from decades of legal precedent.

Savvas Learning Company is excited to introduce Savvas CTE, an offering of innovative career and technical education (CTE) courses, including many that prepare students for industry-recognized certification exams. With a wide array of all-digital courses ranging from drone piloting and cybersecurity to esports and aeronautics, Savvas CTE inspires students to explore career paths and develop skills needed for success in today’s high-interest, high-demand jobs. “Every student while still in high school, and even middle school, deserves the opportunity to explore career pathways that help them plan for their future, gain modern workplace skills, and increase their employability,” said Bethlam Forsa, CEO of Savvas Learning Company. “Savvas CTE helps them get there by providing interactive, real-world learning experiences that engage students every step of the way, ensuring they gain the skills they need to become career-ready and able to secure good jobs in today’s fast-growing fields.”

A recommendation by Postmaster General Louis DeJoy not to raise prices in January 2025 for Market Dominant products, which includes First-Class Mail, was accepted by the Governors of the United States Postal Service. Accordingly, the price of a stamp to mail a 1-once single-piece First-Class letter will not increase. The Postal Service’s operational strategies are designed to boost service reliability, cost efficiency, and overall productivity. “Our strategies are working and projected inflation is declining,” said Postmaster General DeJoy. “Therefore, we will wait until at least July before proposing any increases for market dominant services.”

Eric Hoplin, CEO and President of the National Association of Wholesaler-Distributors warned that American consumers and businesses should expect to "feel the pinch" if the International Longshoremen's Association (ILA) decides to move forward. The move would impact ports that handle about half of the nation’s cargo from ships. According to Hoplin, if the ports were to shut down for a single day and remain closed for three to five days, the American economy could take a $3.7 billion hit "every single day." Despite the economic toll the strikes would have, Hoplin suggested that there is some temporary "good news."

Total revenues across all categories for June 2024 were up 6.2% as compared to June 2023, coming in at $1.1 billion. Year-to-date revenues were up 5.6%, at $6.3 billion for the first six months of the year. Trade (Consumer Books) revenues were up 4.5% in June, coming in at $677.0 million. In terms of physical paper format revenues during the month of June, in the Trade (Consumer Books) category, Hardback revenues were up 6.6%, coming in at $212.5 million; Paperbacks were up 0.3%, with $249.3 million in revenue; Mass Market was down 17.5% to $11.7 million; and Special Bindings were up 32.3%, with $15.5 million in revenue. eBook revenues were up 5.4% for the month as compared to June 2023 for a total of $84.8 million, and the Digital Audio format was up 6.2% for June, coming in at $79.7 million in revenue. Physical Audio was down 20.3% coming in at $800 thousand.

Adobe released the findings of its Authenticity in the Age of AI Study, which surveyed over 2,000 U.S. consumers on their perception and experience with misinformation online in the lead up to the 2024 presidential election. As part of its commitment to responsible innovation, including fostering a more trustworthy and transparent digital ecosystem with Content Credentials, Adobe commissioned the study to understand how public sentiment on the threat of misinformation has shifted as the U.S. presidential election approaches. The study also explores consumer attitudes toward AI-edited content and the increasing importance of provenance tools and solutions to maintain trust during major news moments and global events. “The proliferation of misinformation has eroded public trust. Without a way for to verify the authenticity of digital content, we’re approaching a breaking point where the public will no longer believe the things they see and hear online, even when they are true,” said Jace Johnson, Vice president, Global Public Policy at Adobe.

A small Hawaiian weekly is using AI to populate its newscasts. TGI Today, a product of The Garden Island newspaper, was launched late in August, featuring presenters created by AI. It was created using the AI platform of Caledo News. Serving the island of Kauai the AI-driven newscast appears twice per week, on Mondays and Thursdays.

"Adobe's record Q3 performance is a testament to our relentless innovation and commitment to delivering value to our customers,” said Shantanu Narayen, chair and CEO, Adobe. “With groundbreaking advancements in AI across Creative Cloud, Document Cloud and Experience Cloud, we are empowering millions of users worldwide.” “In Q3, Adobe delivered cash flows of over $2 billion and exited the quarter with record RPO, demonstrating the power of combining growth with world-class profitability,” said Dan Durn, executive vice president and CFO, Adobe. “Given the massive markets we are catalyzing, I’m confident in our ability to drive growth and industry leadership.”

Thomson Reuters, a global content and technology company, proudly announces that its Core Publishing Solutions book manufacturing and fulfilment business, part of the Global Print segment, has been honored with Printing Impressions’ 2024 Innovator of the Year Award. This prestigious recognition showcases Core Publishing Solutions’ successful transformation from a legacy book manufacturer into a cutting-edge printing and fulfilment leader. For over 150 years, Thomson Reuters has served as a powerhouse in publishing and manufacturing books for the legal and tax sectors. However, as customer preference evolved towards digital media, Core Publishing Solutions strategically embarked on a reinvention. The transformation of its 1.3 million-square-foot facility in Eagan, Minnesota, into a modern book manufacturing, warehousing, custom kitting, and fulfillment leader is a testament to this evolution.

The Postal Service has been implementing a new strategic approach with respect to its contracts with package consolidator companies - ones that consolidate large volumes of packages for entry into various points of the USPS network. These contracts no longer reflect operational and financial realities in today’s market, the Postal network, or USPS’ refreshed product offerings. As a result, while the Postal Service has and will enter into new agreements with package consolidator companies consistent with its current business strategy, the Postal Service will no longer offer discounted rates through Negotiated Service Agreements (NSAs) for packages entered by consolidators at Post Office Delivery Units. “As we engage in the process of modernizing our network, we are also changing our product and pricing strategies to ensure that they are aligned with our operating model and goals,” said Postmaster General, Louis DeJoy. “As one part of this new approach, we have decided that it is appropriate to make changes to how we utilize NSAs in the provision of our Parcel Select product. In that regard, to more effectively utilize our network and realize enhanced economies, we no longer intend to provide discounted rates through NSAs that incent parties to aggregate mail volume from multiple shippers and to bring such volume directly to our delivery units.”

UPS announced that is has agreed to acquire Frigo-Trans, and its sister company BPL, industry-leading, complex healthcare logistics providers based in Germany. Once completed, the acquisition will enhance UPS’s end-to-end capabilities throughout Europe for UPS Healthcare customers who increasingly require temperature-sensitive and time-critical logistics. “The fast-paced innovation in the pharmaceutical industry is creating the need to have more integrated cold and frozen supply chains,” said UPS EVP and President of International, Healthcare and Supply Chain Solutions Kate Gutmann. “Frigo-Trans will help deepen our portfolio of solutions for our customers and accelerate our journey to become the number one complex healthcare logistics provider in the world addressing their needs.”

Adobe announced the latest online inflation data from the Adobe Digital Price Index (DPI), powered by Adobe Analytics. In August 2024, online prices fell 4.4%year-over-year (YoY) and 0.3% month-over-month (MoM). This marks 24 consecutive months where online prices have decreased on an annual basis, and the fifth consecutive month where prices have fallen on a monthly basis. August’s YoY price decline was driven by notable drops in major discretionary categories such as electronics, toys and apparel. Grocery prices rose in August YoY, but the price increase has slowed; The category also fell significantly MoM. In electronics, prices were down 5.3% YoY in August (down 0.3% MoM), after falling 5.9% YoY in the month prior (July 2024). Prices for apparel fell 9.0% YoY (up 0.8% MoM), marking 12 consecutive months where prices have fallen on an annual basis. In toys, prices fell 5.6% YoY (down 1.2% MoM), marking forty-one consecutive months where prices have fallen on an annual basis. And in furniture and bedding, a steadily growing e-commerce category, prices fell 5.0% YoY in August (flat MoM); This category has now seen prices fall YoY for 19 consecutive months.

AAP and allies filed a second amicus brief in support of Texas public library patron plaintiffs in Little v. Llano County following the Fifth Circuit Court of Appeals’ order of a full court rehearing of its June 6, 2024 decision. That earlier decision largely—but not entirely—upheld a preliminary injunction against the unconstitutional removal of 17 books from the shelves of the Llano County public library system. The brief authors include the Association of American Publishers, The Authors Guild, publishers of books removed from Llano County public library shelves including Candlewick Press, Hachette Book Group, HarperCollins Publishers, Macmillan Publishing, Penguin Random House, Scholastic, Simon & Schuster, and Sourcebooks, and prominent authors Steven King and James Patterson.

Led by Erik Nordstrom, Nordstom’s CEO, and Peter Nordstrom, the company’s president, the family has partnered with Mexico-based retailer El Puerto de Liverpool, offering $23 per share in cash for the remaining shares the parties do not already own. This is the family’s second attempt in six years to gain full control of the retailer. A special committee of Nordstrom’s board, formed earlier this year after the family first expressed interest in a potential takeover, is now reviewing the proposal.

For back to school this year, Savvas Learning Company is excited to announce new and enhanced learning solutions and classroom tools designed to make teachers’ jobs easier and improve student outcomes, including the launch of its new AI-enabled scoring engine that provides teachers visibility into the reasoning behind the score as well as the ability to edit the score while also giving students immediate feedback to improve their writing skills. After acquiring Whooo’s Reading and its AI-powered technology last year, Savvas developed its own proprietary AI-driven capabilities that are being used in the development of an array of cutting-edge tools to support the teaching and learning experience. This includes the new scoring engine for use with its core literacy programs, myView Literacy and myPerspectives ELA, as well as its secondary multilingual learning and intervention programs, iLitELL and iLit45.

Savvas Learning Company, a next-generation K-12 learning solutions leader, today announced the acquisition of Pointful Education, a provider of innovative, online career and technical education (CTE) courses that prepare students with the industry knowledge and skills needed for future careers. Specializing in career-focused courses and certification exam preparation for middle and high school students, Pointful Education offers a wide range of virtual and blended learning solutions that engage students in career exploration and prepare them for the workforce. Its robust catalog features 55 courses that are aligned with nationally recognized career clusters. The courses offer engaging instructional design packed with interactives, videos, projects, language translations, and text-to-speech functionality.

Local publications, like city and regional magazines, comprise a unique class. That’s because most people like where they live, and they enjoy reading content that echoes the best aspects of local life. City/Regional magazines are masters at civic storytelling, celebrating the soul of neighborhoods and capturing the essence of local life. And readers respond with a strong passion for their local magazines. Savvy publishers support this passion in a variety of ways. City/Regional magazines often are defined by their great design, excellent photography, insightful long-form journalism and superior printing.

This temporary price adjustment is to help cover extra handling costs to ensure a successful peak season. The planned peak-season pricing, which was approved by the governors of the Postal Service on Aug. 8, would affect prices on the following commercial and retail domestic competitive parcels: Priority Mail Express (PME), Priority Mail (PM) and USPS Ground Advantage. No other products or services would be affected. Pending favorable review by the PRC, the temporary rates would go into effect at midnight Central on Oct. 6 and remain in place until midnight Central on Jan. 19, 2025. This seasonal adjustment will bring prices for the Postal Service’s commercial and retail customers in line with competitive practices.

Costco Wholesale Corporation reported net sales of $19.83 billion for the retail month of August, the four weeks ended September 1, 2024, an increase of 7.1 percent from $18.51 billion last year. For the 16-week fourth quarter, the Company reported net sales of $78.2 billion, an increase of 1.0 percent compared to net sales of $77.4 billion in the 17-week fourth quarter of fiscal year 2023. For the 52-week fiscal year ended September 1, 2024, the Company reported net sales of $249.6 billion, an increase of 5.0 percent from $237.7 billion reported in the 53-week fiscal year 2023.

Google has been hit with a second privacy lawsuit over its Google Cloud Contact Center AI -- an artificial intelligence service used at call centers operated by some outside companies. In a complaint filed this week in U.S. District Court for the Northern District of California, California resident Christopher Barulich alleges that Google “secretly wiretapped” phone calls he placed to Home Depot. He adds that Google used its technology to transcribe and analyze the conversation, and suggest potential replies to the Home Depot agent who was on the phone.

Contend, a leading content creation and marketing company in Canada and the U.S., has announced a strategic partnership with Postmedia Network Inc., to launch Postmedia Studios, an ambitious project aimed at transforming the Canadian media landscape. This collaboration seeks to harness the potential of Bill C-11, the Online Streaming Act, which mandates that all broadcasters, including digital platforms, contribute to the development, production, and distribution of Canadian content. As part of this partnership, all intellectual property will be created, owned, and produced by Canadians, focusing on amplifying Canadian stories through the nation’s largest media network. This initiative aims to enhance the cultural landscape of Canada by providing a platform for Canadian voices and narratives.

“The Wiley leadership team and I are pleased with how we started the year, as measured by both our performance indicators and financial results,” said Matthew Kissner, Wiley President and CEO. “Research delivered solid growth driven by robust demand to publish in our journals and execution of our publishing and go-to-market strategies. Learning delivered strong growth as it sees continued demand for its authoritative content in training GenAI models and core growth in Academic. Finally, we closed our third and final divestiture and actioned the remainder of our $130 million cost savings program, positioning us for further performance and profit improvement.” GAAP Results: Revenue of $404 million (-10%), Operating Income of $29 million (+$45 million)

The United States Court of Appeals for the Second Circuit affirmed the District Court’s March 2023 opinion in favor of publishers Hachette Book Group, HarperCollins, John Wiley & Sons, and Penguin Random House, finding Internet Archive liable for copyright infringement and rejecting all four factors of Internet Archive’s fair use argument. The Court squarely addressed the question of whether it is “fair use” for a nonprofit organization to scan copyright-protected print books in their entirety, and distribute those digital copies online, in full, for free, subject to an asserted one-to-one owned-to-loaned ratio between its print copies and the digital copies it makes available at any given time, without any authorization from the copyright owner.

“Our letter carriers and facilities teams across the country, the 640,000 women and men of the Postal Service, are fully focused on the critical mission of delivering the nation’s election mail – just as we have done so excellently through this current primary season and as we have done in the past,” said Postmaster General and CEO Louis DeJoy. “We are proud to do our part to help citizens’ who choose to use the mail to vote to do so effectively.” In the 2020 general election, the Postal Service delivered 99.89 percent of ballots from voters to election officials within seven days. The 2022 midterm elections saw a similar level of on-time performance, with 99.93 percent of ballots delivered within the same timeframe. Post election analysis of the Postal Service’s performance in the 2020 and 2022 elections can be found here and here. The Postal Service has the operational capacity to deliver the nation’s ballots in the final weeks of the election. In 2020, ballots accounted for just .11% of the Postal Service’s total mail volume. USPS officials announced that the organization will once again implement proven extraordinary measures in the weeks immediately before and after the general election (Oct. 21 - Nov. 15, 2024) to enhance the timely delivery of mail-in ballots entered close to or on Election Day and/or the state’s ballot return deadline. These efforts may include additional pickups, extra deliveries, and special sort plans on processing equipment to expedite and enhance ballot delivery.

Penguin Random House, Hachette Book Group, HarperCollins Publishers, Macmillan Publishers, Simon & Schuster, and Sourcebooks have filed a lawsuit against Florida public officials, challenging sweeping book removal provisions of HB 1069, an education law that restricts books in school libraries. The additional plaintiffs joining the publishers are the Authors Guild, bestselling authors Julia Alvarez, Laurie Halse Anderson, John Green, Jodi Picoult, and Angie Thomas, two students, and two parents. As a result of HB 1069, hundreds of titles have been banned across the state since the bill went into effect in July 2023. The list of banned books includes classics such as Brave New World by Aldous Huxley, A Tale of Two Cities by Charles Dickens, For Whom the Bell Tolls by Ernest Hemingway, and The Adventures of Tom Sawyer by Mark Twain, as well as contemporary novels by bestselling authors such as Margaret Atwood, Judy Blume, and Stephen King. Among nonfiction titles, accounts of the Holocaust such as The Diary of a Young Girl by Anne Frank have been removed.

When it comes to its financial future, America’s mood is improving. In McKinsey & Co.’s latest ConsumerWise analysis, 41% of respondents say they are optimistic about the U.S. economy, up from 33% in the previous quarter. They plan to spend -- and even trade up -- a little more freely in the coming months, especially on essential, semi-discretionary, and discretionary items. That jibes with the just-released monthly Consumer Confidence Index, which shows an increasingly rosy outlook for the economy, the job market and income.

The Postal Regulatory Commission submitted its Fiscal Year (FY) 2025 Budget Justification to the Postal Service Board of Governors. Members of the Commission unanimously approved the budget. This marks the third budget request for the Commission under the Postal Service Reform Act- Title 39, United States Code, Section 205. The Commission’s request of $25,400,000 of annual funding for FY2025 supports a total Commission requirement of $28,644,000 and is in line with its role as the primary regulator providing critical oversight, transparency, and expert reporting and analyses on the Postal Service. The remaining $3.264 million would come from a Commission reserve fund and the Technology Modernization Fund. The Commission recently added a new office of Budget and Finance that will serve as a strategic partner for the Commission to plan, execute, and manage fiscal resources necessary for the successful execution of its mission as well as compliance with applicable laws and regulations.

Tom Kingsbury, Kohl’s chief executive officer, said, “We have taken significant action to reposition Kohl’s for future growth. However, our efforts have yet to fully yield the intended outcome due in part to a continued challenging consumer environment and softness in our core business.

Nordstrom, Inc. reported second quarter net earnings of $122 million and earnings before interest and taxes of $190 million. For the second quarter ended August 3, 2024, net sales increased 3.4 percent versus the same period in fiscal 2023, and total Company comparable sales increased 1.9 percent.

Consumers are feeling more confident even as they grow more concerned about the labor market. The Conference Board’s Consumer Confidence Index rose in August to a better-than-expected reading of 103.3 — its highest reading since February — from an upwardly revised 101.9 in July.

Surfer Magazine, the iconic title that served the surfing community for 60 years, is back in print. The publication put out its first print edition in four years, a limited edition of 50,000 copies. The cover of the issue features world champion surfer Kelly Slater, who also contributes copy to the magazine. Jake Howard is the editor of the new Surfer.

Postmedia Network Inc. reported it has successfully closed its acquisition of certain businesses and assets of Saltwire Network Inc. and The Halifax Herald Limited (together, “Saltwire”). “We are delighted to welcome these outlets into the Postmedia family while preserving their vital roles within the community,” said Andrew MacLeod, President and Chief Executive Officer of Postmedia. “We are grateful to those who collaborated with us in developing a more sustainable model for these publications. Our industry has experienced monumental transformations and continues to face significant challenges, necessitating our adaptation. Through this acquisition, we are not only broadening our reach but also reinforcing our commitment to quality journalism and community engagement.”

The commitment letter provides for a new senior secured credit facility with funds managed by affiliates of Apollo of up to $900 million, to be comprised of an initial term loan facility of approximately $675 million, to be funded at the time of closing, and a delayed draw term loan facility of approximately $225 million, which will be available at the Company’s discretion at closing and during the six months following closing, subject to certain customary funding conditions. Net proceeds from the Term Loan Facility will be used to repay in full the outstanding principal of the Company’s five-year senior secured term loan facility maturing October 15, 2026, to purchase or redeem the 6.0% first lien notes due November 1, 2026 and to repurchase for cash up to 50% of the outstanding 2027 Notes. The Term Loan Facility will mature five years after the closing date and will bear interest at an annual rate equal to SOFR plus a margin of 5.0% with a floor of 150 basis points.

A decision obliging more than 9,000 Canadian rail workers to stay on the job is a win for the railways and could impact bargaining in other federally regulated sectors like aviation, the head of a Canadian rail workers' union told Reuters. Paul Boucher, president of the Teamsters Canada Rail Conference, also said the union would work with other labour groups as it mounts a legal challenge to a Saturday decision that halted work stoppages at the country's two largest railways and imposed arbitration. While the Teamsters will obey the order to return to work, the union has warned it could lead to the imposition of future contracts, eroding workers' bargaining power. The decision comes as Air Canada pilots (AC.TO), opens new tab press for a new contract and can commence job action as early as mid-September if there is no agreement with the country's largest carrier.

The United States Postal Service announced it will host a pre-filing virtual conference to discuss its plans to improve mail processing and transportation, and how these improvements will align with proposed refinements within its existing service standards for Mail and Package Products. The Postal Service will consider the comments received during the virtual conference and will thereafter file its formal request asking for an advisory opinion from the Postal Regulatory Commission (PRC). After receiving an advisory opinion from the PRC, the Postal Service will consider the Commission’s opinion and finalize its decision. Central to the virtual conference discussion will be the proposed operational improvements and corresponding refinements to process, transport and deliver all categories of mail and packages through an integrated network without expanding the existing day ranges of service standards, and for some products shortening the current day ranges. These refinements will deliver important benefits to the organization and its customers as the Postal Service continues to implement a more efficient and effective operating model.

The Association of American Publishers (AAP) released StatShot Annual for calendar year 2023, estimating that the U.S. publishing industry generated a healthy $29.9 billion in aggregate publishing revenue for books and course materials across print and digital formats. The result is a minor 0.8% decline when compared to final stated numbers for 2022. It is a 6.1% increase over the pre-pandemic figure of $28.2 billion total recorded in 2019. “This year’s report captures an industry that is both resilient and forward-thinking about how people read, enjoy, and learn from works of authorship,” commented Syreeta Swann, Chief Operating Officer, Association of American Publishers. “In addition to the strong numbers for 2023, the report shows positive trends over a five-year period across multiple categories, formats, and channels.”

Canada’s two major freight railroads have shut their operations, according to management of the two companies, locking out 9,000 members of the Teamsters union who operate the trains and dealing a potential blow to both the Canadian and US economies. Nearly a third of the freight handled by the two railroads — Canadian National (CN) and Canadian Pacific Kansas City Southern (CPKC) — crosses the US-Canadian border, and the shutdown could disrupt operations in a number of US industries, including agriculture, autos, home building and energy, depending upon how long the shutdown lasts. “CPKC is acting to protect Canada’s supply chains, and all stakeholders, from further uncertainty and the more widespread disruption that would be created should this dispute drag out further resulting in a potential work stoppage occurring during the fall peak shipping period,” the company said in a Thursday statement shortly after the start of the lockout at 12:01 am ET. “Delaying resolution to this labor dispute will only make things worse.”

The Onion is known for its satirical headlines, but the latest news to come out of the Chicago-based publication isn’t a joke: It’s back in print after more than a decade. The Onion is offering 12 monthly print editions for a limited-time price of $60, including a special issue for the Democratic National Convention available for those who subscribe within the next two weeks. The price will normally be $99. Learn more and buy a subscription here.

Playboy’s print magazine is being resurrected. Today, PLBY Group, Inc. announced it will return to issuing a print version of its legendary magazine, but this time around on an annual basis, starting with a February 2025 issue. In March 2020, Playboy stopped producing its 66-year-old print magazine, which had been published since 1953, citing the disruptions caused by the coronavirus pandemic as the reason. Along with reviving the print magazine, the company is relaunching its Playmate franchise with a worldwide search for both the 2024 and 2024 Playmate of the Year and as of this week a newly designed website at Playboy.com. This time around, media veteran Mark Healy will be at the helm of Playboy. His resume includes senior roles at GQ, Rolling Stone, and Men’s Journal. The February 2025 issue will make its debut in conjunction with Big Game Weekend and Super Bowl LIX, which will take place on February 9, 2025, at Caesars Superdome in New Orleans, Louisiana.

“During the second quarter, we delivered strong earnings performance in a challenging consumer environment,” said Tony Spring, chairman and chief executive officer of Macy’s, Inc. “Our colleagues executed with discipline, supporting gross margin expansion and effective expense control throughout the organization. We are seeing signs of our strategy taking root, including two consecutive quarters of positive comparable sales in Macy’s First 50 locations. We are encouraged by the early traction of our Bold New Chapter and remain committed to returning Macy’s, Inc. to sustainable profitable growth.” Second Quarter Highlights (comparisons are to the second quarter of 2023) *Diluted earnings per share of $0.53 and Adjusted diluted earnings per share of $0.53. *Net sales of $4.9 billion decreased 3.8%. *Comparable sales down 4.0% on an owned basis and down 3.3% on an owned-plus-licensed-plus-marketplace basis.

Paper is an important part of the American election process. Paper ballots help provide reliability and security. Paper ballots are made from specialty graphic paper based on detailed specifications from election officials and equipment manufacturers. Paper is an important part of the American election process. The paper industry is proud to make paper ballots and other election materials, including: *“I Voted” stickers *Ballot envelopes *Voter registration forms Instruction materials. Paper ballots help provide reliability and security. According to Verified Voting, in 2024, 95% of voters are expected to use a ballot with a verifiable paper trail. Is a Specific Kind of Paper Used for Paper Ballots? Yes, paper ballots are made based on specifications from election officials and equipment manufacturers. This ensures ballot scanners and ballot marking devices correctly process the ballots.

The Manufacturing Standards and Specifications for Textbooks (MSST) Committee has updated the standard for the first time since 2020. Due to shifts in the paper market, leading publishers and printers in the industry were concerned about the potential scarcity of paper meeting current MSST testing specifications. The Committee looked at revising the MSST testing specifications to allow for the use of alternative paper stocks in the future without compromising the durability of textbooks. Following comprehensive testing in 2023/2024, the committee has approved minor adjustments, including a 10% reduction in the Machine Direction Tear specification for 40# and 45# paper grades and a 1-point reduction in the opacity specification for 50# grades. These changes aim to ensure a broader range of paper stocks meet MSST standards while maintaining textbook durability and quality.

According to the latest Signifyd E-commerce Pulse data for July 2024, online spending continued the growth trend seen in June, but shifted toward lower-cost items and alternatives as the fastest year-over-year growth (17.7%) was in orders under $100. Meanwhile, purchases above $500 were nearly flat with 1.5% year-over-year growth. Overall online spending was up 10% year-over-year, and the number of e-commerce orders increased 15% but average order value was down 4% compared to July 2023, which Signifyd said signals caution among consumers.

S&P Global (NYSE: SPGI) today announced that it has completed the sale of its Fincentric business to Stellex Capital Management, a global private equity firm. The transaction does not have material impact to S&P Global and the financial terms of the transaction were not disclosed. The transaction will include local closings in certain jurisdictions, which are expected to occur during the balance of 2024 and into the first half of 2025. Fincentric, formerly known as Markit Digital, became part of S&P Global following the company's merger with IHS Markit in 2022. The transaction follows the announced intent in February 2024 to explore strategic options for the business.

Walmart Inc. announces second quarter results with strong growth in revenue and operating income. Globally, eCommerce penetration is higher across all segments. Walmart U.S. comp sales up 4.2%2 . Looking ahead, the Company issues guidance for Q3 and raises its outlook for FY25. For Q3, net sales are expected to grow 3.25% to 4.25% and operating income to grow 3.0% to 4.5% in constant currency (“cc”)1 . For FY25, net sales are expected to grow 3.75% to 4.75% and adjusted operating income to grow 6.5% to 8.0% cc.

The U.S. Court of Appeals for the Eighth Circuit on August 9 vacated a December 2023 injunction blocking parts of Iowa's controversial book banning law, SF 496. But the move could only be a temporary setback for freedom to read advocates, with court watchers noting that the decision also rejected the state's core legal argument: that the plaintiffs lacked standing to challenge SF 496 because the placement and removal of books from public school libraries and classrooms is government speech. In a brief but thorough opinion, the appeals court held that the plaintiffs in the case—which include the Big Five publishers led by Penguin Random House as well as four bestselling authors—do have standing to sue, and swiftly dispatched with the state’s government speech argument.

Adaptive learning company HMH announced that its award-winning English language development program, English 3D, which is now available for students in grades K-3, provides a complete K-12 solution with expanded reach to support younger learners. “Multilingual learners now make up more than 10% of the US student population and we know this number will continue to grow each year,” said Matthew Mugo Fields, HMH General Manager, Supplemental and Intervention Solutions. “At HMH, we aim to support the unique needs of all learners so they can come into the classroom every day and have the resources they need to thrive. English 3D’s expanded support creates growth for our youngest learners during one of the most critical points in their learning journey.”

Hearst announced it has agreed to acquire QGenda, LLC from investment firms Francisco Partners and ICONIQ Growth. QGenda is a leading provider of healthcare workforce management solutions. More than 4,500 organizations, including leading physician groups, hospitals, academic medical centers and health systems use QGenda to advance workforce scheduling, optimize capacity and improve access to care. The announcement was made by Steven R. Swartz, president and CEO of Hearst; Gregory Dorn, M.D., president of Hearst Health; and Greg Benoit, CEO of QGenda, who will continue to lead the company. Terms were not disclosed. Pending regulatory approval, QGenda will become part of Hearst Health, the healthcare division within Hearst. Hearst Health is currently comprised of market-leading companies FDB, Homecare Homebase, MCG, MHK and Zynx Health. The transaction is expected to close later this year.

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During this quarter we continued our aggressive efforts to stabilize service, implement necessary network initiatives, reduce costs, grow volume and revenue, and lead change both internally and externally. We addressed local pockets of deficient performance and made improvements. We expect these improvements to continue in the coming weeks. Despite significant weather events, service performance for market-dominant and competitive products improved when compared to last quarter — with 60 percent of market-dominant volume delivered early and 95 percent of volume delivered within a day of its service standard. And I’m happy to say, on average, our customers still receive their mail and packages in less than three days. These improvements are attributed to our focused persistence and cross-functional engagement, in areas where performance does not meet our high expectations.

Four Maine newspapers--The Free Press, The Courier-Gazette, Camden Herald and The Republican—are being consolidated into a single title called the The Midcoast Villager. The combined product will be published by Reade Brower, with Kathleen Fleury Capetta serving as co-publisher. “This change is not a cost-saving move; in fact, it is an investment in creating a more robust, impactful product for our region — because we truly believe the health and well-being of our communities is at stake,” Fleury Capetta writes.

*Operating revenue increase of $191 million to $18.8 billion, extending the growth trend to four consecutive quarters *Transportation expense reductions of $236 million reflect continued progress under the Delivering for America plan *Shipping and Package growth continues to benefit from USPS Ground Advantage. The U.S. Postal Service today announced its financial results for the third quarter of fiscal year 2024 (Apr. 1, 2024 - Jun. 30, 2024). The net loss for the quarter under generally accepted accounting principles (GAAP) totaled $2.5 billion, compared to a net loss of $1.7 billion for the same quarter last year.

Costco Wholesale Corporation reported net sales of $19.26 billion for the retail month of July, the four weeks ended August 4, 2024, an increase of 7.1 percent from $17.99 billion last year. Net sales for the first 48 weeks were $229.81 billion, an increase of 7.1 percent from $214.53 billion last year.

Meredith Kopit Levien, president and chief executive officer, The New York Times Company, said, “It was a strong second quarter for The Times – one in which we made further progress on the path to grow our subscriber base and become the essential subscription for every curious person seeking to understand and engage with the world. The combination of our world-class news destination plus market-leading lifestyle products means we have complementary offerings in big spaces, each with multiple growth levers fueling multiple revenue streams. Together we believe these make The Times resilient in a changing media landscape and well positioned for continued value creation.”

Commenting on the results, Chief Executive Robert Thomson said: “Fiscal 2024 was an outstanding year for News Corp, as we not only delivered robust earnings growth and created substantial shareholder value, but took a significant step to prepare the Company to prosper in the AI age. Our landmark agreement with OpenAI is not only expected to be lucrative, but will enable us to work closely with a trusted, pre-eminent partner to fashion a future for professional journalism and for provenance. Meanwhile, we have begun to take legal steps against AI aggressors, the egregious aggregators, who are predatory in the confiscation of our content. ‘Open source’ can never be a justification for ‘open slather.’

Newspaper company McClatchy is merging with a360media, a magazine firm, creating a giant that will reach 100 million unique readers per year. The firms, both of which are owned by hedge fund Chatham Asset Management, are profitable, but the merger could triple overall revenue and profits, says Tony Hunter, chairman and CEO of McClatchy, who will hold the same titles at the new entity. “At the highest level, this creates value that, separately, both of us cannot do,” Hunter says. “If we don’t come together, the value of the individual companies is limited in the near-term.”

Kohl’s announced more than $2.5 million in commitments to Milwaukee-area nonprofits through partnership renewals with Acts Housing, Boys & Girls Clubs of Greater Milwaukee, Greater Milwaukee Urban League, Milwaukee Art Museum, Ronald McDonald House Charities Eastern Wisconsin, Safe & Sound, and Zoological Society of Milwaukee. This support furthers Kohl’s commitment to helping improve the health and wellness of families in its hometown. “It’s an honor for Kohl’s to call the Milwaukee area home, and we are proud to do our part in making our communities stronger by providing support to nonprofits helping to improve the lives of local families,” said Tara Geiter, Kohl’s director of community relations. “These organizations do incredible work and we’re looking forward to continuing to make a positive impact together.”

Net sales increased 10% to $148.0 billion in the second quarter, compared with $134.4 billion in second quarter 2023. Excluding the $1.0 billion unfavorable impact from year-over-year changes in foreign exchange rates throughout the quarter, net sales increased 11% compared with second quarter 2023. *North America segment sales increased 9% year-over-year to $90.0 billion. Operating income increased to $14.7 billion in the second quarter, compared with $7.7 billion in second quarter 2023. *North America segment operating income was $5.1 billion. Net income increased to $13.5 billion in the second quarter, or $1.26 per diluted share, compared with $6.7 billion, or $0.65 per diluted share, in second quarter 2023.

"We are pleased to report another strong quarter of financial results. In fact, our operational execution led to year-over-year growth in Adjusted EBITDA and further improvement to our same store revenue trends. Same store revenue trends improved sequentially for the sixth consecutive quarter, and we remain on track and expect to hit the revenue growth inflection point as we exit 2024. Each of our digital revenue streams continued to grow over the prior year, and as a result, total digital revenues now account for 44% of total revenues." "As part of our strategy, we continued to further optimize our capital structure. During the second quarter, we repaid $24.3 million of debt, which combined with our Adjusted EBITDA growth, reduced our first lien net leverage below 2.0x. Equally important, our total net debt fell under $1.0 billion for the first time since the 2019 acquisition of legacy Gannett, and we continued to maintain a strong liquidity position with approximately $99 million in cash on the balance sheet."

With labor negotiations at a standstill, a Canadian rail strike is likely to occur in late August, Canadian Pacific Kansas City CEO Keith Creel said today (Tuesday, July 30). CPKC and the Teamsters Canada Rail Conference are still talking but remain far apart on a new contract, Creel said on the railway’s second-quarter earnings call. The Canadian Industrial Relations Board has said it will release a decision by Aug. 9 on what commodities are vital to health and safety and must keep moving during a work stoppage. Members of the TCRC, which represents engineers and conductors on CPKC and Canadian National, have voted to authorize a strike that could begin with 72 hours notice once the CIRB decision is issued.

The International Longshoremen’s Association (ILA) contract with maritime employers, represented by the United States Maritime Alliance (USMX), is set to expire on the 30th September 2024 and with under 10 weeks remaining, negotiations have stalled, making a strike increasingly likely. Any strike that potentially impacts all Atlantic and Gulf Coast ports would cause significant disruption to containerised US import and exports, especially with West Coast port workers potentially refusing to handle diverted cargo in solidarity. However, the ILA has a record of resolving contracts without strikes, with the last major disruption occurring in 1977 and had planned to resolve local jurisdiction contracts before starting master contract talks but these negotiations were cancelled due to a dispute at the Port of Mobile. The USMX has expressed a desire to move forward productively but acknowledges that time is running out.

Grainger reported results for the second quarter of 2024 with sales of $4.3 billion, up 3.1%, or 5.1% on a daily, organic constant currency basis, and adjusted diluted EPS of $9.76, up 5.2% compared to the second quarter of 2023. "I'm proud of our team for providing a flawless experience and creating tangible value for our customers. Amidst the backdrop of a slow, but generally stable demand environment, we focused on what matters and produced another quarter of solid results," said D.G. Macpherson, Chairman and CEO. "As we look to the second half of the year, I'm confident in our ability to execute well and deliver results for all stakeholders."

The Company reported second quarter 2024 revenue of $3.549 billion, an increase of 14% compared to the second quarter of 2023. Second quarter GAAP net income increased 98% to $1.011 billion and GAAP diluted earnings per share increased 102% to $3.23 as higher net income was driven primarily by strong growth in Ratings and Indices. Excluding the impact of Engineering Solutions (ES), revenue growth would have been 16% year over year. Adjusted net income for the second quarter increased 27% to $1.267 billion and adjusted diluted earnings per share increased 30% to $4.04. On June 27, 2024, the Company announced that Douglas L. Peterson will retire as President and CEO effective November 1, 2024. Martina Cheung was unanimously selected by the Board as the next President and CEO. Ms. Cheung is currently serving as President of S&P Global Ratings. As previously announced, Yann Le Pallec will succeed Ms. Cheung as President of S&P Global Ratings, also effective November 1, 2024.

The company said it achieved its fastest Prime delivery speeds ever so far this year in the U.S. and around the world, with more than five billion items arriving the same or next day globally — an increase of more than 30% year-over-year, the company said. The majority of the items were delivered on behalf of independent sellers via Fulfillment by Amazon. In a post on its corporate website, Amazon said the speed improvements came primarily from shortening the distance deliveries had to travel to reach customers by regionalizing its fulfillment network. In the first half of 2024, Amazon reduced the distance items traveled between its U.S. sites and the customer by nearly 10% year-over-year.

Postmedia Network Inc., a wholly owned subsidiary of Postmedia Network Canada Corp. announced that it has entered into an agreement to acquire certain businesses and assets of Saltwire Network Inc. and The Halifax Herald Limited, Atlantic Canada’s largest media company, which is currently under Companies’ Creditors Arrangement Act protection. This potential acquisition aligns with Postmedia’s commitment to preserving local journalism and supporting the communities it serves. Local journalism is essential for keeping communities informed and connected. Saltwire, with over a dozen media titles, plays a crucial role in this regard. “If the transaction can be completed, Postmedia intends to provide the necessary back office resources and operational infrastructure to ensure there continues to be reliable and high-quality local news provided to the affected communities,” said Andrew MacLeod, President and Chief Executive Officer of Postmedia.

Dear Industry Member: I'm pleased and excited to announce that longtime ACMA staffer Paul Miller has been promoted to the new position of Executive Vice President & Managing Director. Paul has been a familiar fixture among ACMA members and the overall e-com/DM/catalog industry for years. A "jack of all trades" at the ACMA since 2010, Paul (on the left of the picture with members of the group he led in meetings on Capitol Hill in May) has been responsible for bringing on many new members over the years and the steady growth of the annual ACMA Forum, making it the can't-miss event is has become. Thanks largely to Paul's diligent management, the May 2024 event was off the charts this year compared to 2023, with attendance up 33% and overall revenues increasing by 58%.

President Joe Biden announced his intent to nominate the following individuals to serve as leaders in his administration: Val Butler Demings, Nominee to be a Governor of the United States Postal Service Board of Governors: Val Butler Demings is a lifelong public servant who broke numerous glass ceilings. In 2016, Demings was elected by the voters of Florida’s 10th District to serve in the U.S. House of Representatives. She fought to grow the economy, reduce household costs, and end gun violence. She served on the House Committees on Judiciary, Intelligence, Homeland Security, and Oversight and Government Reform, and chaired the House Homeland Subcommittee on Emergency Preparedness, Response, and Recovery. William Zollars, Nominee to be a Governor (Republican) of the United States Postal Service Board of Governors: William Zollars grew up in Minneapolis, Minnesota as one of four children. He attended Edina High School and the University of Minnesota where he graduated magna cum laude with a Bachelor’s degree in Economics, and as a member of Phi Beta Kappa. After graduation, Zollars spent 24 years at Eastman Kodak where he held roles in finance, strategic planning, marketing, logistics, and general management.

Starbucks has entered into a new solar power partnership to help power its stores in one of America’s largest states. The coffee giant is partnering with Nexamp as a long-term renewable electricity purchaser, anchoring the deployment of more than 40 Megawatts of solar energy in Illinois communities. The six new community solar projects being added to Nexamp's Illinois portfolio will provide significant electricity savings to more than 1,100 local residents who subscribe within the ComEd and Ameren utility territories. Through the Nexamp solar project, Starbucks will purchase electricity coverage for 170 Illinois stores. This builds on the 340 company-operated Illinois stores already powered by wind energy.

The legislative effort to hold the U.S. Postal Service accountable for on-time delivery of periodicals received a boost on Tuesday when Representative Abigail Spanberger (D-Virginia) helped introduce, bicameral legislation to support rural newspaper delivery by incentivizing on-time U.S. Postal Service (USPS) delivery and limiting excessive rate increases for periodicals. The Deliver for Democracy Act would hold the U.S. Postal Service accountable for on-time newspaper delivery service while incentivizing reliable service. In addition, the legislation now on tap in the House would limit rate increases for periodicals unless delivery and service standards are met. “I remain frustrated that U.S. Postal Service leadership is once again planning to raise postal rates — for the sixth time in three years — without fixing the persistent mail service and delivery issues that they know hurt Virginians and Virginia businesses,” Spanberger says.

The Association of American Publishers released its StatShot report for May 2024 reflecting reported revenue for Trade (Consumer Books), Religious Presses, Higher Education Course Materials, PreK-12 Instructional Materials and Professional Publishing. Total revenues across all categories for May 2024 were up 10.9% as compared to May 2023, coming in at $1.1 billion. Year-to-date revenues were up 5.5%, at $5.2 billion for the first five months of the year. Trade (Consumer Books) revenues were up 16.5% in May, coming in at $789.1 million. In terms of physical paper format revenues during the month of May, in the Trade (Consumer Books) category, Hardback revenues were up 21.0%, coming in at $289.1 million; Paperbacks were up 16.7%, with $289.6 million in revenue; Mass Market was up 118.2% to $11.2 million; and Special Bindings were up 28.4%, with $13.6 million in revenue.

Amazon announced that Prime Day 2024 was Amazon’s biggest Prime Day shopping event ever, with record sales and more items sold during the two-day event than any previous Prime Day event. During the 48-hour shopping event, Prime members globally saved billions on deals across every category. With Amazon’s vast selection at some of the lowest prices of the year so far, millions more Prime members shopped the two-day shopping event compared to Prime Day 2023. The opportunity to save big meant a record-breaking number of customers signed up for Prime in the three weeks leading up to Prime Day, with millions of new members worldwide. "Prime Day 2024 was a huge success thanks to the millions of Prime members globally who turned to Amazon for fantastic deals, and our much-appreciated employees, delivery partners, and sellers around the world who helped bring the event to life for customers," said Doug Herrington, CEO of Worldwide Amazon Stores.

Adaptive learning company HMH today announced a refreshed brand that reflects its commitment to accelerating dynamic learning and helping educators create growth for every student. This refresh marks a significant milestone in HMH's evolution, underscoring its promise to integrate the best of technology with the best of in-class instruction to support student success. This is represented by a new visual identity and streamlined name — HMH. “Just as there isn’t one kind of student, there isn’t a one-size-fits-all approach to education. Educators need an intuitive digital ecosystem that helps drive momentum, growth and continuous learning for every student,” said Jack Lynch, HMH CEO. “Everything we do at HMH is in service of creating thriving classrooms built on meaningful student-teacher relationships.”

The Times Hudson Valley Media group, a publisher in New York State, is acquiring two weekly newspapers:The Cornwall Local and The News of the Highlands, increasing the company’s roster to five publications. The sale is effective on August 1. Carl Aiello, founder of the Times Hudson Valley Media group, will serve as publisher and Mary Jane Pitt will remain as editor. Both papers will be converted to tabloid size, marching The Wallkill Valley Times, Mid Hudson Times, and Southern Ulster Times. All five newspapers will go to press on Tuesday evenings, and will hit newsstands on Wednesdays, and local mailboxes on Thursdays.

Steep Life Media, LLC, a family-owned publishing company based in Phoenix, Arizona, has acquired UltraRunning Magazine, effective immediately. UltraRunning publishes eight issues per year. Steep Life’s first will be the September 2024 edition. Founded in 1981, Ultrarunning was owned by UltraRunning Media Group, LLC, which is headed by Karl Hoagland and based in Bend, Oregon.

More evidence has come in that points to 2024 being a very good year for sales of religion books. For the first half of 2024, unit sales of print religious book rose 12.1% over the comparable period in 2023 at outlets that report to Circana BookScan. The gain came entirely from nonfiction titles, which rose 12.8% offsetting a 5% decline in the much smaller fiction category. Religion was the best performing category among all adult nonfiction subject areas in the first half of the year, and sales easily outperformed total print sales in the first six months of 2024, which were down 0.4% from a year ago.

Online retail sales grew more than five times faster in June than total sales, according to data from the National Retail Federation’s Retail Monitor and CNBC. And while online and total retail sales both grew in June — year over year as well as month over month — consumers are still prioritizing non-discretionary purchases in the face of high interest rates and lingering inflation, said NRF president and CEO Matthew Shay. “Inflation has dropped to nearly zero for goods, but remains persistent with services, and solid economic fundamentals are helping consumers make ends meet,” Shay said.

The U.S. Postal Service is harming both publishers and itself with its current ratemaking process, the News/Media Alliance (NMA) charges in a letter to the Postal Rate Commission. “While the Postal Service incurs record losses, Periodicals mailers have been forced to make difficult business decisions ranging from cutting staff to shuttering titles and closing their doors, all of which ultimately harms our society,” the letter states. Since 2021, the USPS has raised periodical rates “generally twice a year by a cumulative total of 47.8 percent,” the NMA writes. “During that time, the portion of those increases due to the additional rate authorities have exceeded the rate of inflation by more than 150 percent.”

The New York Times -- which is fighting OpenAI and Microsoft in court, attempting to block use of its content for training models -- is not beyond testing AI to write headlines and enforce its style guide, according to The Intercept. The Times has developed a tool that would use OpenAI to perform those tasks, The Intercept continues. A Times spokesperson acknowledged the effort, but said it was temporary.

U.S. publishers are not alone in experiencing problems with their postal system. Their neighbors to the north are also unhappy with theirs — for different reasons. A coalition of Canadian news publishers is demanding that Canada Post reverse a decision that would allow consumers to opt out of receiving community newspapers with commercial inserts. These are now seen as junk mail, thanks to the ending of an exemption from Canada Post’s Consumers’ Choice program. As of January 8, 2024, community newspapers with commercial inserts were no longer exempt from Canada Post’s Consumers’ Choice program, which allows Canadians to opt out of receiving ‘junk mail.’

“With over 85% of all digital advertising being allocated to foreign platforms, the entire Canadian media sector remains significantly distressed. Yet Canadians’ appetite for trusted journalism has never been higher,” said Andrew MacLeod, President and CEO. “Initiatives like the Journalism Tax Credit and bill C18 implemented by the Federal government are providing critical support. Ultimately our industry’s future will be determined by Canadian media companies’ ability to capture a greater share of the market and so we applaud the Ontario government for their commitment to spending 25% of their advertising dollars on Ontarian media platforms.” Revenue for the quarter was $100.8 million as compared to $111.2 million in the same period in the prior year, representing a decrease of $10.4 million (9.3%). The revenue decrease was primarily due to decreases in advertising revenue of $6.5 million (12.0%) circulation revenue of $3.4 million (9.4%) and other revenue of $1.6 million (16.6%), partially offset by increases in parcel revenue of $1.2 million (10.8%). Net loss in the quarter ended May 31, 2024 was $15.9 million, as compared to a net loss of $24.8 million in the same period in the prior year.

Costco Wholesale Corporation reported net sales of $24.48 billion for the retail month of June, the five weeks ended July 7, 2024, an increase of 7.4 percent from $22.78 billion last year. Net sales for the first 44 weeks were $210.55 billion, an increase of 6.9 percent from $196.93 billion last year. The Company also announced that, effective September 1, 2024, it will increase annual membership fees by $5 for U.S. and Canada Gold Star (individual), Business, and Business add-on members. With this increase, all U.S. and Canada Gold Star, Business and Business add-on members will pay an annual fee of $65. Also effective September 1, annual fees for Executive Memberships in the U.S. and Canada will increase from $120 to $130 (Primary membership of $65, plus the Executive upgrade of $65), and the maximum annual 2% Reward associated with the Executive Membership will increase from $1,000 to $1,250. The fee increases will impact around 52 million memberships, a little over half of which are Executive.

Wiley announced that its Board of Directors has appointed Matthew Kissner as president and CEO, following a successful interim period. “Over the past nine months, Matt has made great progress improving our organization, accelerating our value creation plans, driving strong momentum in our core, and rallying around new AI opportunities,” said Jesse Wiley, chair of the board. “As an experienced C-suite operator and Wiley veteran, he brings a deep understanding of our markets, customers, operations, financials, and people – all of which has been evident in our material progress.” Wiley continued: “After a formal process that included a global search, the Board has concluded that Matt is the right person to lead Wiley through the next phase of our journey as a knowledge solutions company. We look forward to working alongside him to continue our momentum and deliver significant value for our stakeholders, including shareholders, customers, and colleagues.”

Christian Jünger is to become the new Chairman of the Management Board/CEO of the German Penguin Random House Verlagsgruppe. As Nihar Malaviya, CEO of Penguin Random House, announced yesterday, Jünger will take up his new position on October 1. Jünger succeeds Thomas Rathnow, who stepped down from the role in April after resigning for personal reasons. Penguin Random House Verlagsgruppe has since been managed on an interim basis by Britta Egetemeier and Thomas Pichler. In his new role, Jünger will lead Verlagsgruppe’s strategy to drive its future growth and consolidate its position as leading German-language publisher. As CEO of Verlagsgruppe, he will report to Nihar Malaviya and will sit on Penguin Random House’s Global Executive Committee. Christian Jünger will join Penguin Random House Verlagsgruppe from Rowohlt Verlag, where he has supervised Sales, Purchasing/Manufacturing, Controlling, Rights and Licenses, IT, and HR as Managing Director since 2021. Previously, he gained significant experience in the retail book sector at Amazon Germany, where he most recently served as Head of Vendor Management Books, managing the business with specialist and foreign-language books, calendars, and wholesalers.

Books by Sarah J. Maas and Rebecca Yarros, among the bestselling books of 2024 so far, sparked a huge increase in the adult fantasy category and helped keep print sales roughly flat with the first half of 2023. Spurred by huge gains in the adult fantasy genre, unit sales of print books rose 1.1% in the second quarter of 2024 over the comparable period in 2023 at outlets that report to Circana BookScan. The second quarter increase was nearly enough to offset the 1.7% decline in the first quarter, putting unit sales down only 0.4% in the first half of the year.

A new 2023-2024 estimate projects political advertising revenues will rise to $10.7 billion -- up from an earlier estimate of $10.2 billion, according to AdImpact. This total would show 19% growth versus the 2019-2020 Presidential political advertising period, when political ad revenue totaled $9.02 billion. The advertising research company says this breaks down to broadcast platforms (local and national) estimated at $5.35 billion, with local cable TV systems at $1.93 billion, connected TV at $1.51 billion and digital media at $1.12 billion.

Times Media Group has acquired the Record Gazette and Sun Lakes Life, from Century Group Media, effective June 30. The terms were not disclosed. Also included in the deal were Redlands Community News, Fontana Herald News and Yucaipa and Calimesa News Mirror, Record Gazette reports. The weekly publications serve the San Bernardino/Riverside area of California’s Inland Empire. Times Media Group is based in Tempe, Arizona.

One of the largest online book retailers is launching a new program for customers to sell their books and help promote sustainability. ThriftBooks Global’s new BuyBack program offers customers a convenient way to sell their books directly to ThriftBooks and earn extra money or store credit from the books collecting dust on their bookshelves. The ThriftBooks’ BuyBack program encourages sustainability, giving old books a second life. The e-tailer says it accepts high-demand books based on its inventory needs, provided the books are in good condition. Books must be clean, free from water damage and missing pages, with the spine intact, though showing some wear is acceptable.

The Postal Regulatory Commission has opened an inquiry into the Postal Service’s internal Service Performance Measurement (SPM) system for Market Dominant mail products. The Commission’s goal in this proceeding is to address concerns that the SPM may not accurately represent customer experience in the current environment. The Commission intends to carefully examine how measurements reported by the SPM are derived and whether the SPM is currently producing accurate, reliable, and representative results as the law requires. If the Commission’s review reveals that the SPM is not producing accurate, reliable, and representative results, the Commission would identify changes to the SPM to align it with legal requirements.

The Commission’s in-depth analysis reviewed the Postal Service’s four performance goals: 1) High-Quality Service, 2) Excellent Customer Experience, 3) Safe Workplace and Engaged Workforce, and 4) Financial Health. Overall, in FY 2023, the Postal Service did not meet any of its performance goals. Specifically, *The Postal Service did not meet six of eight public performance indicators for the High-Quality Service performance goal, which measures on-time delivery of mail and packages. *The Postal Service did not meet three of the eight performance indicators for the Excellent Customer Experience performance goal, which measures customer satisfaction. *The Postal Service did not meet any of the performance indicators for the Safe Workplace and Engaged Workforce and Financial Health performance goals.

A little more than three months after Small Press Distribution abruptly closed, leaving some 400 independent presses without a trade distributor, publishers and distributors alike are moving forward even as damage assessment continues. Approximately 25% of the stranded publishers have found new distributors: Asterism Books has signed about 80 presses, Itasca Books has onboarded 21, and Independent Publishers Group has taken on 11. An informal deadline of June 30 had previously been set for publishers to remove their inventory from Ingram Content Group and Publisher Storage and Shipping warehouses, to which SPD had sent their books as part of a failed plan to reinvent the distributor. Pam Nuffer, director of sales and marketing for PSSC, said that about 75% of the publishers who have inventory with them have provided PSSC with instructions on where their inventory should be shipped, and that PSSC has already shipped out about half of the books.

S&P Global announced that its Board of Directors has unanimously elected Martina L. Cheung, S&P Global's current President of S&P Global Ratings, to succeed Douglas L. Peterson as the Company's President and Chief Executive Officer, effective November 1, 2024. Additionally, Ms. Cheung has been appointed as a member of the Board, effective July 1, 2024. Mr. Peterson will remain on the Board until May 2025 and be a special advisor to the Company until December 31, 2025.  Ms. Cheung has held multiple leadership roles in her 14 years at S&P Global. She currently leads S&P Global Ratings, which realized $3.3 billion in annual revenue for 2023, a 9% increase over the prior year, with 56.5% full-year operating profit margin. Additionally, under her leadership, S&P Global Sustainable1 had revenue growth of 24% in 2023. Prior to her current roles, Ms. Cheung led S&P Global Market Intelligence, during which time the division exceeded $2 billion in annual revenue. She also served as S&P Global's Chief Strategy Officer, responsible for developing the Company's growth and innovation investment priorities.

“We made significant progress in fiscal 2024 and ended the year strong, delivering four consecutive quarters of expanding operating income and margin in a challenging revenue environment,” said Raj Subramaniam, FedEx Corp. president and chief executive officer. “These results are unprecedented in this current environment, reflecting our continued execution of our DRIVE initiatives and our resolve to transform FedEx while we deliver outstanding service to our customers. We expect this momentum to continue in fiscal 2025 as we advance our efforts to create the world’s most flexible, efficient, and intelligent network.” FedEx Ground operating results increased due to reduced structural costs resulting from DRIVE initiatives, increased yield, lower self-insurance costs, and growth in ground commercial volume. FedEx Freight operating results increased due to higher yield and effective cost management. FedEx Freight has announced plans to further optimize its operations and match capacity with demand through the planned permanent closure of seven facilities. FedEx Express operating results declined primarily due to lower international yields, partially offset by reduced structural costs from DRIVE initiatives and higher U.S. domestic package yields. During the quarter, FedEx Express permanently retired certain aircraft and related engines as part of its fleet modernization program.

The debate over content scraping took a new turn on Friday when TollBit, a content licensing startup, alleged that artificial intelligence companies are bypassing a web standard used by publishers to block scraping, Reuters reports. The web standard is Robots Exclusion Protocol, or robots.txt, which was created in the 1990s to prevent websites from being overwhelmed with web crawlers, according to Reuters. A Wired probe alleges that AI search startup Perplexity has likely bypassed efforts to block its web crawler via robots.txt, Reuters continues. And TollBit says its analytics show that numerous AI agents are bypassing the robots.txt protocol.

News Corp and OpenAI announced a historic, multi-year agreement to bring News Corp news content to OpenAI. Through this partnership, OpenAI has permission to display content from News Corp mastheads in response to user questions and to enhance its products, with the ultimate objective of providing people the ability to make informed choices based on reliable information and news sources. OpenAI will receive access to current and archived content from News Corp’s major news and information publications, including The Wall Street Journal, Barron’s, MarketWatch, Investor’s Business Daily, FN, and New York Post; The Times, The Sunday Times and The Sun; The Australian, news.com.au, The Daily Telegraph, The Courier Mail, The Advertiser, and Herald Sun; and others. The partnership does not include access to content from any of News Corp’s other businesses. In addition to providing content, News Corp will share journalistic expertise to help ensure the highest journalism standards are present across OpenAI’s offering.

Though the publishing industry seems to be in a period of malaise, there are some signs that business is improving. Earlier this week, the Association of American Publishers’ StatShot program reported an 18% increase in April sales over a year ago. That news has been followed up by Circana BookScan’s report that unit sales of print books increased 5% in May over May 2023. According to Brenna Connor, industry analyst for U.S. books at BookScan, the May increase was driven by strong Mother’s Day sales, as well as several retail promotional events. As usual, adult fiction was the biggest driver of the increase, and Kristin Hannah’s The Women was the top-selling adult title in May, pushing just over 139,000 copies.

Savvas Learning Company, a next-generation K-12 learning solutions leader, is proud to announce that its high-quality learning solutions and innovative digital platform have earned eight edtech industry recognitions by numerous award programs. The enVision K-12 math series, SuccessMaker personalized learning program, and the Savvas Realize learning management system (LMS) are among recent winners of industry recognition. “At Savvas, we are committed to developing the highest-quality instructional solutions that are powered by cutting-edge technology in order to personalize teaching and learning and help all students succeed,” said Bethlam Forsa, CEO of Savvas Learning Company. “We are honored to receive these prestigious awards as they demonstrate the impact of our evidence-based, student-centered learning solutions in helping educators increase student engagement and accelerate academic outcomes.”

The Postal Regulatory Commission requested information about continued large-scale network changes by the Postal Service despite its announced “pause” in implementing parts of the Delivering for America (DFA) plan. In addition, the Commission asked the Postal Service about the scope and nature of the pilot test described by the Postal Service regarding early DFA efforts in its May 16th response to the Commission’s Show Cause order. The Commission also requested information about the ’recently announced projection of $65 billion in ten-year losses under DFA. The questions are part of the Commission’s public inquiry into the DFA. Commission Chairman Michael Kubayanda noted, “Emerging circumstances and information have reinforced the urgency and importance of understanding the impacts and regulatory implications of DFA before the Postal Service makes further changes that impact service.” National service performance in 2024 has been at historic lows, while locations such as Atlanta continue to suffer service problems, even after some improvement in recent weeks.

The Postal Regulatory Commission released today its Financial Analysis report for Fiscal Year (FY) 2023. The in-depth analysis of the Postal Service’s financial performance concluded that the organization’s overall financial condition continues to worsen. In FY 2023, the Postal Service recorded a net operating loss of $2.3 billion — an increase of $1.8 billion over the previous year. When non-operating expenses are included, the overall net loss increases to $6.5 billion. The primary highlights from the report were: *The Postal Service had a net loss of $6.5 billion. *Total Factor Productivity, a measure of Postal Service efficiency, saw the largest decrease (4 percent) since it was first calculated in 1965. *Total mail volume decreased by 8.7 percent, including a 2.0 percent decrease in the volume of Competitive products. *Revenue from Competitive products increased by $0.2 billion. *Despite rate increases, Market Dominant revenue decreased by $0.4 billion. *Total operating expenses were $2.1 billion higher than the previous year. *The Postal Service recorded total assets of $45.3 billion and total liabilities of $68.4 billion at the end of FY 2023.

The Association of American Publishers (AAP) released its StatShot report for April 2024 reflecting reported revenue for Trade (Consumer Books), Religious Presses, Higher Education Course Materials, PreK-12 Instructional Materials and Professional Publishing. Total revenues across all categories for April 2024 were up 18.3% as compared to April 2023, coming in at $947.5 million. Year-to-date revenues were up 4.2%, at $4.1 billion for the first four months of the year. Trade (Consumer Books) revenues were up 20.6% in April, coming in at $725.1 million. In terms of physical paper format revenues during the month of April, in the Trade (Consumer Books) category, Hardback revenues were up 16.6%, coming in at $252.6 million; Paperbacks were up 20.3%, with $249.9 million in revenue; Mass Market was down 34.5% to $8.2 million; and Special Bindings were up 13.7%, with $14.4 million in revenue. eBook revenues were up 16.8% for the month as compared to April 2023 for a total of $83.1 million, and the Digital Audio format was up 54.6% for April, coming in at $100.0 million in revenue. Physical Audio was down 15.0% coming in at $800 thousand.

The nation’s major container ports are in for a busy summer. Monthly inbound cargo volume at the nation’s major container ports is expected to reach its highest level in nearly two years this summer, according to the latest Global Port Tracker report released by the National Retail Federation and Hackett Associates. The increase comes as retailers are stocking up to meet demand, especially as they head into peak shipping season, according to NRF VP for supply chain and customs policy Jonathan Gold.

“Adobe achieved record revenue of $5.31 billion driven by strong growth across Creative Cloud, Document Cloud and Experience Cloud,” said Shantanu Narayen, chair and CEO, Adobe. “Our highly differentiated approach to AI and innovative product delivery are attracting an expanding universe of customers and providing more value to existing users.” “Adobe delivered outstanding Q2 results, positioning us to raise our annual targets,” said Dan Durn, executive vice president and CFO, Adobe. “Our market-leading products, strong execution and world-class financial discipline position us well for the second half of 2024 and beyond.”

Amazon Web Services, Inc. announced a $230 million commitment for startups around the world to accelerate the creation of generative AI applications. This will provide startups, especially early-stage companies, with AWS credits, mentorship, and education to further their use of artificial intelligence (AI) and machine learning (ML) technologies. Part of the new commitment will fund the second cohort of the AWS Generative AI Accelerator, a program that provides hands-on expertise and up to $1 million in credits to each of the top 80 early-stage startups that are using generative AI to solve complex challenges. Applications for the AWS Generative AI Accelerator open today and will be accepted until July 19. “For more than 18 years, AWS has helped more startups to build, launch, and scale their business than any other cloud provider—it’s no coincidence that 96% of all AI/ML unicorns run on AWS,” said Matt Wood, vice president, Artificial Intelligence Products at AWS. "With this new effort, we will help startups launch and scale world-class businesses, providing the building blocks they need to unleash new AI applications that will impact all facets of how the world learns, connects, and does business.”

On June 11, the Oklahoma Supreme Court ruled that the state Department of Education overstepped its authority by attempting to force the Edmond Public School district to remove two books the state had deemed inappropriate from its school library shelves, holding that new state rules enacted last year to govern book content in the state’s public schools had no basis in law. “We conclude a local school board possesses statutory authority to maintain and control its local school library, and one aspect of this control includes discretionary selection for providing supplemental educational books and instructional material deemed appropriate by the local school board in compliance with state statutes,” the unanimous decision reads. “No statute gives the State Board of Education, State Department of Education, and Superintendent of Public Instruction the authority to overrule a local school board's exercise of discretion in applying its local community standards for books in a local school library.”

“We finished the year strong and head into Fiscal 2025 with full confidence in our Research trajectory, GenAI momentum, and profit and performance outlook,” said Matthew Kissner, Interim President and CEO. “We are seeing robust demand to publish and significant output acceleration in Research as well as continued outperformance in Learning. On top of this, we’re seeing significant interest in leveraging our authoritative content to train AI and machine learning models. Finally, we’ve executed on our stated commitments with discipline and speed, enabling us to exceed our earnings guidance and accelerate our cost savings program, setting us up well for continued margin expansion and strong cash generation ahead.” Fiscal Year 2024 was a transition year for Wiley as the Company divested non-core assets, restructured and realigned the organization, and recorded multiple non-cash impairments. Results reflect this activity. GAAP Results (including Held for Sale or Sold Assets): Revenue of $468 million (-11%), Operating income of $69 million (-17%), and EPS of $0.46 (-$0.76).

1. The rate increase. There is no way to get around it or ignore it — perhaps the single biggest topic of conversation at this years’ event was the postal rate increases. 2. Mail is becoming a luxury item. On the heels of the rate changes, many are noting that brands are beginning to see the mail component of their marketing campaigns as more of a luxury line item. 3. Design is critical. While certainly not a new phenomenon, the design of the mail piece is only becoming more critical. 4. Postal discounts are more critical than ever before. Speaking of postal discounts, there are a lot of programs out there that brands and mailers could — and should — be taking advantage of, and those discounts are shifting and changing. 5. Direct mail works. Direct mail is still the single marketing channel that gets the most return on investment of every platform — multiple sessions noted that ROI for direct mail sits at around 40%, which is significantly higher than any other channel.

Adobe announced the general availability of Adobe Experience Platform (AEP) AI Assistant, previewed at Adobe Summit in March 2024. This new offering enhances the productivity of experience practitioners through generative AI, while democratizing access to enterprise applications by bringing more individuals into content production and insights workflows. AEP is the solution of choice for organizations to build a single view of customers and engage them on every channel, used by leading brands including The Coca-Cola Company, Major League Baseball, Marriott International, General Motors, TSB Bank, Real Madrid and others. With AEP AI Assistant, brands can now deliver value to their organizations through a conversational interface that provides a deeper understanding of data and an ability to streamline workflows. Embedded within Adobe Experience Cloud applications including Real-Time Customer Data Platform, Adobe Journey Optimizer and Customer Journey Analytics, AEP AI Assistant can answer technical questions, automate tasks, simulate outcomes, and generate new audiences and journeys. These capabilities are brought to life through generative experience models, which capture Adobe product knowledge and insights based on an organization’s unique data, campaigns, audiences and business goals—all in a brand-safe way and with a privacy-first mindset.

Union members at several Tribune Publishing newsrooms have ratified a two-year contract with owner Alden Global Capital after five years of negotiations , according to the NewsGuild. The agreement provides for wage increases of 3% per year for two years and maintenance of existing 401K matches for all participating employees. Some NewsGuild members took part in a 24-hour strike earlier this year.

In recognition of outstanding achievements in mailing and shipping industry innovations and industry best practices, USPS awarded its 2024 Delivering for America Partnership for Excellence awards to several recipients on the final day of the National Postal Forum (NPF), the country’s premier mailing and shipping conference. The Delivering for America Partnership for Excellence awards are bestowed at NPF to recognize companies that have made significant contributions to the mailing and shipping industry with forward-thinking and innovative practices. The Postmaster General and USPS Executive Leadership Team personally select the winners, who have successfully worked with the organization to enhance the value of what we deliver every day — mail and packages. Awards were presented to customers in seven categories: the Regional Shipper of the Year Award, the Shipping Innovator of the Year Award, the Driver of the Year Award, the Carrier of the Year Award, the Mailer of the Year Award, the Mail Service Provider of the Year Award, and the Supplier of the Year Award.

Costco Wholesale Corporation reported net sales of $19.64 billion for the retail month of May, the four weeks ended June 2, 2024, an increase of 8.1 percent from $18.16 billion last year. Net sales for the first 39 weeks were $186.07 billion, an increase of 6.9 percent from $174.07 billion last year.

Barnes & Noble is thrilled to announce their selections for The Best Books of the Year (So Far). The list is a compilation of categories hand-selected by the B&N bookselling team, each featuring several titles that represent the crème de la crème of books published since January of 2024. From household names to debut authors, picture books to memoirs, the Best Books of 2024 (So Far) captures the brilliance of publishing in the first half of this memorable year. These 12 unique collections encompass a wide range of genres, highlighting books that will surprise and delight a broad readership, including: *Horror Rewind: 5 VHS Thrills and Chills; *They Write, We Score: 10 Sports Romances We Cheer For; *Micro to Macro: 7 Science and Nature Titles to Explore and more.; *The Cutting Edge: 8 Spredges We're Obsessed With.

Field & Stream, the outdoor magazine that first appeared in 1871, has returned to print with an issue out on June 5, its first in four years. Field & Stream Journal features 160 pages of outdoor content, presented in an oversized 10x12-inch format. This is the first new issue since Field & Stream was acquired by country music stars Eric Church and Morgan Wallen and other brand builders earlier this year.

The postal price increases for marketing mail are driving down volume and, more importantly for the USPS, driving down profits. The postal price increases need to be rolled back. Basic economic principles apply to the pricing decisions for catalogs and direct mail: Catalogs (and direct mail) are very sensitive to the cost of mailing. Catalogers decide how much to mail based on their breakeven cost. Catalogers track their breakeven costs very closely and make circulation decisions based on their costs. Catalogers have been decreasing their mail volumes because of postage cost increases. Mailing volume correlates directly with costs for catalogs and direct mail.

News site ARLnow is discontinuing a daily newsletter that was created with generative AI. The closure will occur this week as ARLnow launches a new email format for its Afternoon Update. But it could return as it irons out the wrinkles. ARLnow’s morning newsletter was produced with an automated process that provided AI summaries of the previous day’s articles. The morning summaries were generated via ChatGPT APIs “in a writing style somewhat similar to that of Morning Brew,” ARLnow writes.

Savvas Learning Company, a next-generation K-12 learning solutions leader, is proud to announce that CEO Bethlam Forsa has been named the “Most Influential Thought Leader in EdTech” by the 2024 SIIA CODiE Education Technology Awards. The CODiE Leadership Award for “Most Influential Thought Leader in EdTech” honors an individual who empowers and inspires the industry through the communication of their insight, expertise, and critical thinking. “I am truly honored to receive this prestigious CODiE Award and want to thank the SIIA for recognizing the importance of edtech innovation in supporting educators and engaging students,” said Forsa. “At Savvas, we are committed to developing the highest-quality instructional solutions that are powered by cutting-edge technology in order to personalize teaching and learning and help all students succeed.”

Carpenter Media Group, a publisher based in Mississippi, is continuing its acquisition kick, buying Pamplin Communications, owner of The Portland Tribune and 23 other publications in Oregon, according to Willamette Week. Robert Pamplin Jr. founded the company and the Portland Tribune. Pamplin cited age and health as his reasons for selling. Carpenter recently acquired Black Press Media, publisher of multiple newspapers in the Pacific Northwest. In May, it purchased 10 Southern newspapers and a Georgia printing facility from Community Newspaper Holdings Inc. (CNHI). The company reportedly owned 160 publications.

J-14, a pop culture magazine for teens, will return to print in August after a lapse that began in January. The issue will feature celebrity interviews and posters, fashion and pop culture feature stories, according to ReMIND. It will also include a dose of nostalgia. “J-14 posters are SOOOO back!” J-14 writes. “After a brief hiatus, we’re thrilled to announce the return of J-14 Magazine’s print issue, coming back to racks this August 2024!”

Net sales for the quarter increased 9.1 percent, to $57.39 billion, from $52.60 billion last year. Net sales for the first 36 weeks increased 7.0 percent, to $171.44 billion, from $160.28 billion last year. Net sales were positively impacted by approximately 0.5 to 1.0 percent for the quarter from the shift of the fiscal calendar, as a result of the fifty-third week last year. Net income for the quarter was $1.68 billion, $3.78 per diluted share. Last year’s third quarter net income was $1.30 billion, $2.93 per diluted share, which included a non-recurring charge to merchandise costs of $298 million pretax, $0.50 per diluted share, primarily for the discontinuation of our charter shipping activities. Net income for the first 36 weeks was $5.01 billion, $11.27 per diluted share, compared to $4.13 billion, $9.30 per diluted share, last year.

First Quarter Fiscal 2024 - Financial Results *Net sales of $3.4 billion were up 3% compared to last year. Comparable sales were up 3% year-over-year. Due to the 53rd week in fiscal 2023, in order to maintain consistency, comparable sales for the first quarter of fiscal 2024 are compared to the 13 weeks ended May 6, 2023. *Gross margin of 41.2% increased 410 basis points versus last year's reported gross margin and increased 400 basis points versus last year's adjusted gross margin, which excludes $4 million in restructuring costs. *Operating income was $205 million; operating margin of 6.1%.

First Quarter of Fiscal 2024 Compared to First Quarter of Fiscal 2023 *Net sales increased 3.5% to $2.7 billion compared to $2.6 billion, primarily due to increased comparable sales, new store contribution, and growth in other revenue. *Comparable sales (sales for stores open at least 14 months and e-commerce sales) increased 1.6% compared to the first quarter of fiscal 2023, driven by a 1.3% increase in transactions and a 0.3% increase in average ticket. *Gross profit increased 1.4% to $1.07 billion compared to $1.05 billion. As a percentage of net sales, gross profit decreased to 39.2% compared to 40.0%, primarily due to lower merchandise margins and higher inventory shrink, partially offset by growth in other revenue. *Operating income was $400.9 million, or 14.7% of net sales, compared to $442.1 million, or 16.8% of net sales.

For the first quarter ended May 4, 2024, net sales increased 5.1 percent versus the same period in fiscal 2023, and total Company comparable sales increased 3.8 percent. Gross merchandise value ("GMV") increased 4.9 percent. First quarter net sales include a 75 basis point negative impact from the wind-down of Canadian operations. During the quarter, Nordstrom banner net sales increased 0.6 percent and comparable sales increased 1.8 percent. Net sales for Nordstrom Rack increased 13.8 percent and comparable sales increased 7.9 percent.

Gannett Co., Inc. and the USA TODAY Network announced they are official media content partners of The Confederation of North, Central America and Caribbean Association Football (Concacaf), the heartbeat of soccer across North, Central America, and the Caribbean. As one of FIFA’s six continental confederations, Concacaf unites 41 Member Associations spanning from Canada, Guyana, Suriname, and French Guiana. The partnership enhances awareness around the Concacaf’s 2024 Champions Cup, which launched in 2024 as a rebranded and revamped elite men’s club competition. Showcasing the top 27 men’s clubs from North America, Central America, and the Caribbean, this event offers an exciting platform for competitors in the prestigious Concacaf Club Champion title and an automatic qualifying ticket to represent Concacaf at the FIFA Club World Cup, scheduled to take place in the United States in the Summer of 2025.

The Federal Aviation Administration (FAA) is giving Prime Air additional permissions that allow it to operate drones for more deliveries in a wider area. FAA regulations require that all commercial drone operators are able to maintain a line of sight to their drones until it approves a technology that can safely enable drones to fly beyond visual line of sight (BVLOS), a term used in aviation to describe flying a drone where the remote pilot can't see it directly with their own eyes. Instead, a remote pilot relies on instruments or technology to monitor and control the drone at all times. FAA approval for Amazon to operate drones BVLOS will allow Prime Air to further expand drone deliveries and lays the foundation for the e-tailer to scale drone delivery operations to more locations in the U.S.

The Postal Regulatory Commission approved the rates proposed by United States Postal Service for July but also strongly urged the United States Postal Service Governors not to use all the rate authority, citing the comments we and others filed. Although the price adjustments proposed in this proceeding are consistent with applicable law and the Commission has no legal basis to reject the proposed changes, the Commission is concerned, given the current state of affairs, that the Postal Service’s proposal does not reflect reasoned consideration of the potential widespread effects of its proposal, is not prudent, and is not consistent with the best interests of all stakeholders. Specifically, the Commission remains concerned about the substantial declines in Market Dominant volumes, overall service performance for Market Dominant products, and the Postal Service’s overall financial situation, issues that have all remained significant, if not worsened, since the current Market Dominant ratemaking system went into effect.

*Net sales decreased 5.3% year-over-year, to $3.2 billion, with comparable sales down 4.4% *Gross margin as a percentage of net sales was 39.5%, an increase of 48 basis points. *Selling, general & administrative (SG&A) expenses decreased 0.8% year-over-year, to $1.2 billion. As a percentage of total revenue, SG&A expenses were 36.3%, an increase of 166 basis points year-over-year. *Operating income was $43 million compared to $98 million in the prior year. As a percentage of total revenue, operating income was 1.3%, a decrease of 148 basis points year-over-year. *Net loss was $27 million, or ($0.24) per diluted share. This compares to net income of $14 million, or $0.13 per diluted share in the prior year. *Inventory was $3. 1 billion, a decrease of 13% year-over-year. *Operating cash flow was a use of $7 million as compared to a use of $202 million in the prior year.

News Corp.’s deal with OpenAI supports the contention by the New York Times that publishers should be paid when their work is used for AI, Times lawyers say. “The Times is pleased to see that OpenAI increasingly acknowledges this industry-wide problem and is paying publishers for their work,” a Times spokesperson told Legaltech News. The spokesperson adds, “We hope Microsoft will follow suit. It is important for all industry participants to be at the table and for the subsequent deals to adequately reflect the value of high-quality journalism.”

The Carpenter Media Group has acquired 10 Southern newspapers and a Georgia printing facility from Community Newspaper Holdings Inc. (CNHI). Terms of the sale were not disclosed. The printing plant is in Valdosta, Georgia. "We are pleased to succeed CNHI in ownership and responsibility for these institutions and the communities they serve," says Todd Carpenter, chair of Carpenter Media. "We will work hard to build on the good foundations they put down in each place."

Postmedia Network Inc., a wholly owned subsidiary of Postmedia Network Canada Corp. announced a definitive agreement to sell the Winnipeg Sun, The Graphic Leader and Kenora Miner & News to The Klein Group Ltd. “We are pleased to have reached an agreement with a local group that will continue Postmedia’s long tradition of providing trusted and valuable journalism in these important markets,” said Andrew MacLeod, President and CEO of Postmedia. “Our teams in Winnipeg, Portage and Kenora produce quality work that is critically important to their communities, and we’re thrilled that will continue under the new ownership group. Each paper’s local team will continue to be supported by the voices and opinions from Postmedia that Canadians rely on for information, diverse perspectives, and unique insights into national and international developments.” Employees at each of the newspapers are expected to continue in their role, with no job losses anticipated. Non-unionized employees will be offered their same job with the Klein Group, while unionized employees will retain their current terms as presently contracted.

Savvas Learning Company, a next-generation K-12 learning solutions leader, is excited to announce that Outlier by Savvas, its online dual-enrollment course offerings, has been named to TIME World's Top EdTech Companies 2024 list. Outlier by Savvas ranked #73 on this new global ranking of the 250 top edtech companies by TIME in partnership with Statista, a statistics and market research company. Savvas recently acquired Outlier, an edtech startup that has created a portfolio of online, asynchronous dual enrollment courses — with real transferable college credit opportunities from a top 50 university — that enable high school students to earn dual credit while never having to leave their school building. Offering a diverse catalog of award-winning college courses with cinematic lectures from top-rated instructors, Outlier by Savvas provides high school students multiple pathways to college and career.

Millennials and Gen Z are known as “robust samplers,” meaning they are accustomed to a risk-free subscription model for media consumption. Think Netflix, Amazon Unlimited, Audible, and Spotify. As it turns out, according to a new report from the American Library Association (ALA), “in the traditional, print-centered book publishing ecosystem, libraries are the place for robust sampling.” According to the new report Gen Z and Millennials: How They Use Public Libraries and Identify Through Media Use, Gen Z and Millennials (roughly ages 13 to 40) are using public libraries, both in person and digitally, at higher rates than older generations.

News Corp and OpenAI today announced a historic, multi-year agreement to bring News Corp news content to OpenAI. Through this partnership, OpenAI has permission to display content from News Corp mastheads in response to user questions and to enhance its products, with the ultimate objective of providing people the ability to make informed choices based on reliable information and news sources. OpenAI will receive access to current and archived content from News Corp’s major news and information publications, including The Wall Street Journal, Barron’s, MarketWatch, Investor’s Business Daily, FN, and New York Post; The Times, The Sunday Times and The Sun; The Australian, news.com.au, The Daily Telegraph, The Courier Mail, The Advertiser, and Herald Sun; and others. The partnership does not include access to content from any of News Corp’s other businesses. In addition to providing content, News Corp will share journalistic expertise to help ensure the highest journalism standards are present across OpenAI’s offering.