Bukhman Philanthropies will finance the International Booker Prize, allowing the prize monies to be doubled to £100,000. Shortlisted titles will continue to win £5,000. The grant funds the prize for the next ten years and the award will be renamed the Bukhman International Booker Prize. The judges for the 2027 prize will be Patrick McGuinness, Caleb Azumah Nelson, Olga Ravn, and Tessa Thompson, along with chair Katie Kitamura.
People 7/2
TG Jones Avoids Bankruptcy for Now
UK retailer TG Jones’s restructuring plan was approved in court, allowing the company to avoid bankruptcy, at least for now. Under the plan, private equity owner Modella Capital will give the bookstore chain, which was formerly WH Smith, a £15 million loan, in addition to the £10 million loan they gave in April, the Independent reports. “We welcome the court’s approval of our restructuring plan,” TG Jones ceo Alex Willson said. “The plan protects the substantial core of the store estate and makes TG Jones a stronger, more sustainable business. We are incredibly grateful to all the colleagues, partners and […]
“The Serpent in the Grove” Wins Commonwealth Prize
Jamir Nazir’s “The Serpent in the Grove” has won the overall Commonwealth Short Story Prize. After it was named the winner of the Caribbean region of the prize and was published in Granta, the story was accused of being written using AI. AI detectors also flagged two other regional winners as AI-generated. After a review, the Commonwealth Prize concluded that AI was not used in Nazir’s story or any other regional winners. Still, Granta has broken off its partnership with the prize and will no longer publish winning stories.
Distribution: Paperblanks
Starting January 4, stationery brand Paperblanks will be sold and distributed by Hachette Book Group in the US and Caribbean. Paperblanks is owned by Hachette UK and was previously distributed by Chronicle in the US.