Text Publishing in Melbourne, Australia announced a deal in which they will be acquired by Penguin Random House. The publisher was founded in 1990 and has been majority owned by publisher Michael Heyward and senior editor Penny Hueston, in partnership with Maureen and Tony Wheeler (the founders of Lonely Planet). Heyward said in the release, “Text has created an unparalleled space for itself in Australian publishing. Now it’s time for a new owner to provide a home for the company’s entrepreneurial energies and its family of brilliant authors. We are lucky to have the right custodian in Penguin Random House […]
Waterstones Results Improve
Waterstones filed a report for its fiscal year ending April 27, 2024 with the UK’s Companies House, reporting increased sales following the full integration of results from the acquired Blackwells and Foyles into their results. Sales were £528 million, up from £453 million the prior year, and operating profit rebounded to £43.8 million, up from £13.9 million. The previous year they suffered from “disruptions to the distribution center, caused by the implementation of a new warehouse management system.” As of the end of the previous fiscal year, the company was in the process of refinancing a £77.9 million term loan […]
Obituary: John Taylor “Ike” Williams
Co-founder of literary agency Kneerim and Williams (which now operates as Calligraph) John Taylor Williams, known as Ike, died on December 26, 2024 at home in Cambridge, MA at age 86, surrounded by family. A lawyer by training, Williams represented publishing clients and literary rights at the Boston firm Palmer and Dodge before founding Kneerim and Williams with Jill Kneerim in 1990. The Provincetown Independent writes, “Ike possessed what used to be called charisma. When he walked into a restaurant, heads turned as if there were an invisible spotlight on him, even if most in the room had no idea […]
De Leo Leaves Barnes & Noble
Barnes & Noble’s chief merchandising officer since 2020 Jackie De Leo left the company earlier this week. CEO James Daunt wrote internally: “It is with great regret – and also sincere gratitude – that I announce that Jackie De Leo has decided to leave Barnes & Noble as she continues her stellar career across bookselling and publishing. Jackie joined Barnes & Noble at the start of 2020 and has been instrumental in the evolution of our stores as she led our merchant teams over the last 5 years. Her leadership has been inspiring and the contribution to the success of […]
Shelley and Daunt to Speak (Briefly) at London Book Fair
The London Book Fair announced its seminar programming, with the opening keynote conversation on Tuesday, March 11 featuring CEO of Hachette Book Group USA and Hachette UK David Shelley and CEO of Barnes & Noble and managing director of Waterstones James Daunt together. They will discuss “Leading Businesses on Both Sides of the Atlantic,” moderated by journalist Alex Peake-Tomkinson — albeit in only a 30-minute session. Unfortunately, the program also features this session. We queried the show’s pr representative to…see what they were thinking: How Non-Fiction Publishing Leaders Can Reliably Leverage AI-Assisted Author Content to Optimise Revenue & Production Time […]
Bankrupt Diamond Owes Penguin Random House Over $9 Million
In Diamond Comic Distributors’ bankruptcy filing, Penguin Random House is listed as their largest creditor, owed $9.2 million. Among other publishing companies, Disney Consumer Products is owed $1.7 million; Simon & Schuster $600,000; VIZ Media $421,000; and Titan Publishing $357,000. Restructuring firm Getzler Henrich & Associates is a “financial advisor” in the bankruptcy and managing director Robert Gorin is co-chief restructuring officer of the company now according to the filing. Raymond James & Associates is the investment banker advising on the sale of the business units.