LSC Communications

LSC Communications is an American multinational commercial printing company based in Chicago, IL, United States.[3] The company was established in 2016 as part of a corporate spin-off from RR Donnelley.[4] It owns the publishers Research & Education Association and Dover Publications.

LSC Communications, Inc.
TypePublic
NYSE: LKSD
S&P 600 Component
IndustryCommercial Printing
Founded2016
(from corporate spin-off)
Headquarters191 North Wacker
Chicago, Illinois
United States
Key people
Thomas Quinlan III (CEO)
Revenue US$3.326 billion (2019)[1]
US$−157 million (2019)
US$−295 million (2019)
Total assets US$1.649 billion (2019)
Total equity US$−72 million (2019)
Number of employees
20,000 (2020)[1][2]
Websitehttps://www.lsccom.com/

According to the company's CFO, Andrew Coxhead, LSC is the largest producer of books in the United States.[5]

Acquisitions and divestitures

In 2017 and 2018, LSC made several purchases, including TriLiteral LLC (a book distributor owned by Harvard University Press, MIT Press, and Yale University Press),[6] Donnelley Logistics (former parent RR Donnelley's logistics business), logistics company Fairrington Transportation, Creel Printing, Publishers Press, envelope producer Quality Park, and logistics company Clark Group.[7]

In 2018, LSC announced the sale of all of its European printing operations to the Walstead Group.[7]

Failed buyout

In November 2018, Quad/Graphics announced their intent to purchase LSC in an all-stock deal.[8] The purchase was expected to double Quad's business overall, primarily in magazines, catalogs, retail inserts and books.[9] On June 20, 2019 the Department of Justice issued a press release indicating that it would sue to block the proposed purchase of LSC Communications by Quad Graphics. [10] One month later, the companies announced they would discontinue the deal rather than fight the lawsuit.[11]

2020 Bankruptcy

LSC Communications, Inc. and 21 affiliated debtors filed Chapter 11 bankruptcy in the United States District Court for the Southern District of New York. [5] The company is now owned by the private equity holding company Atlas Holdings.

References
  1. http://www.sec.gov/ix?doc=/Archives/edgar/data/1669812/000156459020007989/lksd-10k_20191231.htm
  2. http://fortune.com/company/lsc-communications/fortune 500/
  3. "About Us - LSC Communications". www.lsccom.com. Retrieved 17 April 2018.
  4. Bushey, Claire (9 November 2018). "Print deal would dethrone R.R. Donnelley as industry's No. 1". Crain's Chicago Business. Retrieved 12 November 2018.
  5. "Chicago-based LSC Communications files for Ch. 11 bankruptcy after 'unprecedented' drop in print demand". Chicago Tribune. Retrieved May 10, 2020.
  6. "LSC Buys TriLiteral; Turner Purchases Gürze Books". PublishersWeekly.com. Retrieved 2018-07-08.
  7. Michelson, Mark (19 July 2018). "LSC Communications Sells Its European Operations". Printing Impressions. Retrieved 12 November 2018.
  8. Milliot, Jim (1 November 2018). "Quad/Graphics to Buy LSC Communications". Publishers Weekly. Retrieved 12 November 2018.
  9. Romell, Rick (31 October 2018). "Quad/Graphics could nearly double in size with $1.4 billion purchase of Chicago firm". Milwaukee Journal Sentinel. Retrieved 12 November 2018.
  10. https://www.justice.gov/opa/pr/justice-department-sues-block-quad-s-acquisition-lsc
  11. Romell, Rick (July 23, 2019). "Quad/Graphics, LSC Communications scrap merger in face of antitrust lawsuit". Milwaukee Journal Sentinel. Retrieved 2 August 2019.
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