About Michael Cader

Michael Cader is the creator of Publishers Lunch and PublishersMarketplace.com
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Rakuten to Buy OverDrive for $410 Million

The two companies announced in press releases that Rakuten will pay "a total consideration of $410 million in cash" to buy OverDrive. They say OverDrive's EBITDA was $25 million for 2014, which amounts to a very hefty multiple of earnings that Rakuten is paying -- but the Japanese-based company says that…

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Investor Talk: Harper Touts International Expansion, Eyes More Buys

We're using the slow week to catch up on presentations made at a couple of media investor conferences earlier this month. HarperCollins CFO Bedi Singh appeared at a Morgan Stanley conference in early March, where he underscored the better than expected results already coming from last year's Harlequin acquisition. "Harlequin…

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Scouting the Bad and the Very Bad in Kindle's Reader-Powered Platform

Katy Waldman at Slate has a look at some of the featured titles in the recent Kindle Scout initiative, where readers are supposed to sample excerpts from unpublished manuscripts and recommend them for publication through Kindle Press. Her theme is: "This kind of writing is unabashed. It is breathtakingly, gloriously bad.…

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People, Etc.

Christian Lorentzen will join New York Magazine and Vulture.com as book critic, writing book reviews as well as "longer assessments and essays on books and writers and shorter commentary on a wide range of literary matters." Lorentzen will start writing for the magazine in April and increase his output in June…

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KDP Fund for February: Down Slightly Overall, Up Slightly Per Book

In their monthly retroactive declaration of how much KDP Select authors earned from Kindle Unlimited borrows for February, Amazon financed a total pool of $8 million -- down from $8.5 million allocated in January. That's the first time Amazon has reduced the monthly pool. The fee paid per borrow rose slightly,…

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People, Etc.

Eerdmans has hired Lil Copan as senior acquisitions editor, general trade. She was at Abingdon Press most recently. A group of senior management and board members have joined in a management buyout of the Peter Lang Academic Publishing Group from the Peter Lang Children's Trust. The deal is expected to close by mid-2015. The new…

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Overlooked NBA Authors Do Well At NBCC Awards

The National Book Critics Circle awards were presented Thursday night, and four authors who were nominated for (but did not win) National Book Awards won NBCC honors: Fiction Marilynne Robinson, Lila (Farrar, Straus and Giroux) Autobiography Roz Chast, Can't We Talk About Something More Pleasant? (Bloomsbury) Biography John Lahr, Tennessee…

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Lagardere's Profit Falls Along with Sales

Having already reported sales for 2014 a month ago, in the European style Lagardere followed up on Wednesday afternoon with a full accounting of their profits for the year as well. On those sales of €2.004 million (down 3 percent), recurring EBIT fell further, down €26 million or 12 percent to €197…

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2014 In Context: Known Gains Are Sparse

Until it's revised a year from now, we have to work with the AAP's report of a 4 percent gain (or $258 million) in trade sales during 2014, to $6.631 billion. As noted in our full report, all of the gains and then some -- $325 million in all -- came…

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Barnes & Noble Discloses More Figures, Buys More Time from Samsung

As we've pointed out, Barnes & Noble's sales of Nook-branded devices have been running well below projections and their purchase promise made to Samsung. In an amendment to that agreement dated March 7, Samsung agreed to give Nook until June 30, 2016 to purchase at least 1 million co-branded tablets…

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