MAIN NEWS HEADLINES
July 20 – July 27, 2006 Edition
TULSA, OK/7/18/06Tulsa-based Educational Development Corp., which distributes the UK publisher Usborne Publishings line of childrens books in the U.S., plans to acquire Intervisual Books which has been in Chapter 11 bankruptcy since May. EDC said it will provide debtor-in-possession financing to Interivsual, which includes Piggy Toes Press. The acquisition plan was expected to be approved this week by the Los Angeles bankruptcy court.
Intervisual has a backlist of more than 300 childrens titles but has been undercapitalized. EDC, on the other hand, has solid profits but is looking for more content.
EDCs Publishing Division, headed by chairman Randall White, began in 1978 when the Company first became the United States trade publisher of the Usborne Line of childrens books. The Division presently markets its products through commissioned sales representatives, trade and specialty wholesalers and our in-house telemarketing staff. Primary sales outlets include approximately 12,000 book, toy and gift stores along with museums and school suppliers. Several national chains of book dealers have placed some titles in their distribution systems.
Intervisual Books was founded by pop-up book enthusiast Waldo Hunt and was incorporated in January 1975. For over 28 years, Intervisual Books has been the preeminent creator and manufacturer of three-dimensional, interactive and educational novelty books. The companys books are published in 17 languages in over 40 countries.