Struggling SF Press, Night Shade, Pushes Asset Sale

[AncalagonTheBlack]

By Rachel Deahl | Apr 03, 2013

After several years of financial struggles, the science fiction and fantasy publisher Night Shade Books is preparing to sell its assets to Skyhorse Publishing and Start Publishing. That is, if its authors will sign off on the deal.

The indie house sent a letter to agents and authors—excerpts of which have subsequently been posted online—in which it notes that, as an alternative to bankruptcy, a sale of assets to Skyhorse and Start would allow authors to "get paid everything they are due, as well as find a future home for their books.” The asset sale though, as the letter points out, hinges on a “sufficient number” of approvals from Night Shade's authors, who would also need to agree to “certain changes to their contracts.”

Full story -

http://www.publishersweekly.com/pw/by-topic/industry-news/publisher-news/article/56656-struggling-indie-sf-press-night-shade-pushes-asset-sale.html

As you probably know, Night Shade Books has had a difficult time after the demise of Borders. We have reached a point where our current liabilities exceed our assets, and it is clear that, with our current contracts, sales, and financial position, we cannot continue to operate as an independent publisher. If we filed for Chapter 7 bankruptcy, or liquidation, the rights to your books could be entangled in the courts for years as could past or current unpaid royalties or advances. However, we have found an alternative, which will result in authors getting paid everything they are due as well as finding a future home for their books, subject to the terms and conditions stated in this letter.

Provided that a sufficient number of Night Shade authors agree to certain changes to their contracts with Night Shade, Skyhorse Publishing, Inc. and Start Publishing, LLC have agreed to acquire all Night Shade Books assets. To be clear, this is an acquisition of assets, not a purchase of the company as a whole. The revenue received from the sale would go towards paying off the debts of the company. If you sign below, and a sufficient number of other Night Shade authors and other creditors also agree to these terms, you will receive full payment to bring all royalties and overdue advances current.

http://www.absolutewrite.com/forums/showpost.php?p=8088624&postcount=64

[kcf]

Unfortunate in a lot of ways. Of course the authors are all going to be screwed over - just how badly remains to be seen. And us readers...well Night Shade has been putting out some of the most exciting SFF over the past few years, moreso than any other publisher I can think of. I'll be a big disappointment to see this momentum stop.

[Darth Richard]

Fuck.

Is this just the worst week for SFF or what?

[kcf]

Here is a very interesting read that sums things up very well. Some facts, some speculation. But it seems to sum up what I had come to believe about NSB. Too bad. I really do hope that some these exciting new authors find homes elsewhere.

http://www.staffersbookreview.com/2013/04/night-shade-books-what-went-wrong.html

[Calibandar]

They have been struggling badly for years. I remember a few years ago, I think it was 2008 or 2009, they suddenly stopped releasing all the scheduled books for 9 months. Nothing released for nearly a year. But after that they started publishing very regularly again, with lots of releases of unknown authors.

One thing I also don't like: I have been waiting for Laird Barron's collection "The Beautiful Thing That Awaits Us All "for months. It was due to be released on April1st, but oddly, that has not happened. Uh oh.

[kcf]

I don't know about the release of that book, but the ARC has been up on NetGalley for a while now (it still is). I have a copy of it.

[kcf]

I advise anyone who has been thinking about getting some books published by Night Shade that they buy them now while you still can (they are still available). I would not advise anyone to pre-order anything though, who knows when or if those books will come around, and probably not through Night Shade.

[polishgenius]

It's a shame. NSB have been ace in the last few years.

[Seli]

My Nighshade ebooks (some they were not supposed to sell) are all from the former webscriptions (now baenebooks) and therefore DRM free, and backed up safely.

But the situation sucks immensely for the authors involved. Including some really great ones. The offered deal seems to be a poison pill according to some of the analysis I have seen (a roundup here http://www.tobiasbuc...y-roundup-post/ ). But the problem is that bankruptcy would be even worse. I hope things will work out for the best, but I am not hopeful at the moment.

I wonder where the recently started Eclipse Online is connected, must suck for the authors there and Jonathan Strahan as well.

edit: it seems it is closing, that sucks http://www.nightshadebooks.com/2013/04/04/eclipse-online-to-close-effective-immediately/

[Darth Richard]

God, looking at my shelf, it's filled with awesome books buy awesome authors from NSB. Plus, lot's of Unfinished series. That combined with some of the over hyped shit that gets published these days makes me want to, well, maybe I should get to work on the second death star.

To quote Office Space: "This is...a FUCK!"

[WrathOfTinyKittens]

Hell, bad news for a good publisher. Though I don't know offhand if any of my ebooks are from them... I'll have to look up a list of their authors.

[Bastard of Godsgrace]

Just by them from baenbooks.com No DRM, and they're cheaper!

Yeah, all Night Shade books except the last month are still available on Baen site for six dollars, DRM-free :http://www.baenebooks.com/

[AncalagonTheBlack]

Night Shade Books Editor in Chief on the buyout: "This is the last chance to make sure all of my authors get paid" -

http://io9.com/night-shade-books-editor-in-chief-on-the-buyout-this-470262244

Leaked copy of the new contract on Scribd -

http://www.scribd.com/doc/134089596/Night-Shade-Books-Contract

Some of the Night Shade authors weigh in -

http://www.michaelastackpole.com/?p=3288

http://www.tobiasbuckell.com/2013/04/04/nightshade-sale-super-summary-roundup-post/

http://girlgeniusadventures.com/2013/04/04/publish-perish/

http://www.kameronhurley.com/?p=13015

[Calibandar]

The article linked by KCF upthread, by Staffer's Book reviews, is an excellent summary.

[RedEyedGhost]

http://www.kameronhurley.com/?p=13015

That was a really good piece too. Especially the post script at the end:

P.S. I’ve been asked by readers if they should keep buying my books from Night Shade. The answer is YES. If the deal goes through, I get paid that money. If it doesn’t, then those sales numbers will contribute to my sales record and help me find a new home with another project at a stronger publisher. Do please continue to support Night Shade’s authors. We love our readers and fans, and we wouldn’t have survived this without you.

[kcf]

agreed. I did a short blog post about all this from the angle that this is the time to buy Night Shade books (while you still can).

[Darth Richard]

Yeah no kidding. Just got back from B*N and even had I not been on the lookout I would have noticed all the nightshade stuff is gone. One copy of Rapture(Mine!) and some glen cook. And I was just there a few days before the announcement, they had quite a bit then. So if you want physical copies of anything id order from amazon or run to the local store real soon.

[Opisthokont]

Oh shit. Night Shade is Egan's American publisher. I hope this doesn't delay the publication of the third part of Orthogonal in the rest of the world.

[Bastard of Godsgrace]

Oh shit. Night Shade is Egan's American publisher. I hope this doesn't delay the publication of the third part of Orthogonal in the rest of the world.

Fortunately, he has a British publisher as well: http://www.fantasticfiction.co.uk/e/greg-egan/eternal-flame.htm

It may mean I will have to but third volumke in a different edition, but it is something I can live with.

[Guinevere Seaworth]

On no! Courtney Schafer's final book was likely due out this fall. This does not bode well. She has been a must buy author for me.