LSC Communications
{{Infobox company
| name = LSC Communications, Inc.
| logo = LSC Communications logo.svg
| logo_size =
| type = Subsidiary
| traded_as =
| industry = Commercial printing
| foundation = 2016
(from corporate spin-off)
| location = 191 North Wacker
Chicago, Illinois
United States
| key_people =
| revenue = {{decrease}} US$3.326 billion (2019){{Cite web|url=http://www.sec.gov/ix?doc=/Archives/edgar/data/1669812/000156459020007989/lksd-10k_20191231.htm|title = Inline XBRL Viewer}}
| operating_income = {{decrease}} US${{color|red|−157}} million (2019)
| profit = {{decrease}} US${{color|red|−295}} million (2019)
| assets = {{decrease}} US$1.649 billion (2019)
| equity = {{decrease}} US${{color|red|−72}} million (2019)
| num_employees = 20,000 (2020)http://fortune.com/company/lsc-communications/fortune {{Webarchive|url=https://web.archive.org/web/20210522063414/https://fortune.com/company/lsc-communications/fortune/ |date=2021-05-22 }} 500/
| parent = Atlas Holdings
| homepage = {{URL|https://www.lsccom.com/}}
}}
LSC Communications is an American commercial printing company based in Chicago, Illinois,{{cite web|url=https://www.lsccom.com/about/|title=About Us - LSC Communications|website=www.lsccom.com|accessdate=17 April 2018}} and, {{As of|2020|Dec|lc=y}}, a fully-owned subsidiary of Atlas Holdings.{{cite news |last1=staff |title=Atlas Holdings purchase of LSC Communications completed |url=https://www.gasconadecountyrepublican.com/stories/atlas-holdings-purchase-of-lsc-communications-completed,34605 |access-date=16 April 2021 |work=Gasconade County Republican |date=December 10, 2020 |language=en}} The company was established in 2016 as part of a corporate spin-off from RR Donnelley.{{cite news |last1=Bushey |first1=Claire |title=Print deal would dethrone R.R. Donnelley as industry's No. 1 |url=https://www.chicagobusiness.com/manufacturing/print-deal-would-dethrone-rr-donnelley-industrys-no-1 |accessdate=12 November 2018 |work=Crain's Chicago Business |date=9 November 2018 |language=en}} It owns the publishers Research & Education Association and Dover Publications.
LSC is the largest producer of books in the United States.{{cite web|title=Chicago-based LSC Communications files for Ch. 11 bankruptcy after 'unprecedented' drop in print demand|url=https://www.chicagotribune.com/business/ct-biz-lsc-communications-bankruptcy-quad-graphics-20200413-fyo6jvuaivffddgsig5ctfvkca-story.html |work=Chicago Tribune|date=14 April 2020 |accessdate=May 10, 2020}}
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),{{Cite web| title = LSC Buys TriLiteral; Turner Purchases Gürze Books| work = PublishersWeekly.com| accessdate = 2018-07-08| url = https://www.publishersweekly.com/pw/by-topic/industry-news/industry-deals/article/76495-lsc-buys-triliteral-turner-purchases-g-rze-books.html}} 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.{{cite news |last1=Michelson |first1=Mark |title=LSC Communications Sells Its European Operations |url=https://www.piworld.com/article/lsc-communications-sells-its-european-printing-operations/ |accessdate=12 November 2018 |work=Printing Impressions |date=19 July 2018}}
In 2018, LSC announced the sale of all of its European printing operations to the Walstead Group.
Failed buyout
In November 2018, Quad/Graphics announced their intent to purchase LSC in an all-stock deal.{{cite journal |last1=Milliot |first1=Jim |title=Quad/Graphics to Buy LSC Communications |journal=Publishers Weekly |date=1 November 2018 |url=https://www.publishersweekly.com/pw/by-topic/industry-news/industry-deals/article/78466-quad-graphics-to-buy-lsc-communications.html |accessdate=12 November 2018}} The purchase was expected to double Quad's business overall, primarily in magazines, catalogs, retail inserts and books.{{cite news |last1=Romell |first1=Rick |title=Quad/Graphics could nearly double in size with $1.4 billion purchase of Chicago firm |url=https://www.jsonline.com/story/money/business/2018/10/31/quad-graphics-buying-lsc-communications-1-4-billion-deal/1833403002/ |accessdate=12 November 2018 |work=Milwaukee Journal Sentinel |date=31 October 2018 |language=en}} 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.{{Cite web|url=https://www.justice.gov/opa/pr/justice-department-sues-block-quad-s-acquisition-lsc|title = Justice Department Sues to Block Quad's Acquisition of LSC|date = 20 June 2019}} One month later, the companies announced they would discontinue the deal rather than fight the lawsuit.{{cite news |last1=Romell |first1=Rick |title=Quad/Graphics, LSC Communications scrap merger in face of antitrust lawsuit |url=https://www.jsonline.com/story/money/business/2019/07/23/quad-graphics-lsc-communications-scrap-merger-face-antitrust-lawsuit/1802653001/ |accessdate=2 August 2019 |work=Milwaukee Journal Sentinel |date=July 23, 2019}}
2020 bankruptcy
In 2020, LSC Communications, Inc. and 21 affiliated debtors filed Chapter 11 bankruptcy in the United States District Court for the Southern District of New York. The company was purchased in December 2020 by the private equity holding company Atlas Holdings.
References
{{reflist}}
{{Illinois Corporations}}
Category:Printing companies of the United States
Category:Manufacturing companies based in Chicago
Category:Manufacturing companies established in 2016
Category:American companies established in 2016
Category:Companies that filed for Chapter 11 bankruptcy in 2020
Category:2020 mergers and acquisitions
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