Bertelsmann Buys the Rest of Bookspan In the purchase everyone’s been waiting for ever since Time Warner sold their trade book group, Bertelsmann has announced their purchase of Time’s 50 percent share in Bookspan. The book clubs will be integrated into BMG Columbia House, run by Stuart Goldfarb, and Bookspan chief executive Markus Wilhelm will leave the company. The purchase price was not disclosed, though the WSJ puts it at approximately $150 million. In exchange for a head’s up on the release, the Journal offers up naive praise of the book club business that would make you think it’s actually […]
