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As Expected, Pearson Ready to Sell Penguin Random House Stake; Profit Warning Sinks Shares

Pearson issued a "trading update" on their results Wednesday morning, telling investors they are ready to sell (or recapitalize) their 47 percent stake in Penguin Random House: "With the integration of Penguin Random House complete, and with greater industry-wide stability on digital terms, we intend to issue an exit notice…

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People, Etc.

Tom Thompson has joined SMP as vp, creative services and advertising. Thompson most recently was svp, digital strategy/group director of Verso Advertising, where he worked for 10 years. At William Morrow, Emily Krump has been promoted to senior editor. Bookselling Barnes & Noble will close their downtown Minneapolis store at…

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HarperCollins Buys Out Ediouro In Brazil; Firebrand Launches Eloquence on Alert

HarperCollins has bought out Ediouro, its partner in HarperCollins Brasil, to take sole ownership of the venture. Harper Brasil is also moving its headquarters to Rua da Quitanda in Rio de Janeiro's financial center. CEO Brian Murray said in the announcement: "While we have enjoyed a successful relationship with Ediouro, we…

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Briefs

The Costco Pennie's Pick for January is Amy Stewart's Girl Waits With Gun (HMH) while the company's book club pick for the month is The Tumbling Turner Sisters (Gallery) by Juliette Fay. Updating our very best of the best books of 2016 report, Jacqueline Woodson is represented now by Kathleen Nishimoto at…

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PRH UK Returns to Negotiate New Collective Agreement

After a tumultuous week of stories that do not fully align, Penguin Random House UK and the two unions representing some of their employees are talking again, and reporting progress towards a new agreement. On Wednesday, PRH UK and the unions Unite and the National Union of Journalists issued a…

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People, Etc.

Parenting Press is being acquired by Chicago Review Press (which already distributes the press through its IPG unit) effective January 1, and will continue as an imprint of its new parent company. Chicago Review Press publisher Cynthia Sherry will oversee the list from the 37-year-old practical parenting and children's book publisher. Parenting…

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CEO Holiday Greetings, from Simon & Schuster

In keeping with tradition, publishing ceos are thanking employees and celebrating the year's accomplishments through year-end letters. The first publicly released letter is from Simon & Schuster chief executive Carolyn Reidy, noting "a tumultuous year in both the United States and around the world" while still observing that "it feels as if…

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CBS and Viacom Won't Merge After All

More than two months after National Amusements, which owns 80 percent of the stock in both CBS (parent company of Simon & Schuster) and Viacom, urged the two companies to consider a merger, that potential deal has now been withdrawn. CNBC reported that Shari Redstone, vice chair for both companies,…

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Mondadori Sells Bompiani

In keeping with the conditions imposed as part of Mondadori's acquisition of Rizzoli's book publishing assets this spring, the company sold Bompiani to Giunti. The deal closed December 1, at a total prize of 16.5 million euros ("5.3 million euro of which related to assets transferred to the buyer"). It's…

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International Briefs: Kobo, Amazon, Luebbe and More

The rest of the world was open for business all week long and accounts for much of the catch-up news: - Kobo has now redirected their efforts to sell ebooks and ereading devices in Spain towards their France-based retail partner Fnac. The relationship has been expanded to Spain, where Fnac has 50 stores. Kobo…

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