Scholastic (SCHL-NASDAQ) remembered how to reward shareholders: it release the name of the new Harry potter book. Scholastic has dubbed the 7th book in the Harry Potter series "Harry Potter and the Deathly Hallows."
This is supposed to be the finale to the mega-hit book and movie series, but we’ll see if that ends up being truth or fiction. That series has such dynastic financial success and has had such popularity that there is really no reason to kill it off. 50 and 80 years from now when may of the current Harry Potter readers are in nursing homes it is imaginable that they will remember back to Harry Potter.
It likely isn’t fair to refute a story before it has happened, but Harry Potter is too much of a success to squash. There are too many avenues for that series to branch off that could be a money-maker for Scholastic and anyone involved for years (if not decades). J.K. Rowling may not want to personally write anymore, but she could literally license and "ghost" so many things out of this. Either Scholastic or another company will probably make an offer that just can’t be refused. If yo go Barnes & Noble’s website you will see that they have 941 items under "Harry Potter," so they may say the "finale" is underway. Been there, heard that.
Scholastic should take note of this. SCHL shares are up almost 2% at $34.95, close to the $35.73 high over the last year. No date has been set for release and no run rates have been set yet.
Jon C. Ogg
December 21, 2006
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