Hachette UK’s Hodder & Stoughton deal to acquire Quercus has become “unconditional,” which essentially finalizes the deal as it heads towards the formal closing. Quercus chief executive Mark Smith is leaving the company, but will serve as a consultant for an unspecified period of time. As noted in March, when H&S agreed to pay £12.6 million, Quercus will operate as its own division, under the supervision of Jamie Hodder-Williams. H&S reiterates that it will honor all written contracts, and a spokesperson tells us “all existing arrangements will remain in place,” including Quercus’s US-based business. Hodder-Williams comments in the announcement: “I […]
