Today’s headlines are mostly updates to yesterday’s stories and other ongoing tales: * The UK’s Office of Fair Trading has officially invited comment on Amazon’s deal to buy The Book Depository and whether it “may be expected to result in a substantial lessening of competition within any market or markets in the United Kingdom,” a process which “effectively starts our merger enquiry.” They will decide whether to refer the deal to the Competition Commission for formal investigation and report by the end of August. Release * In Australia, the remaining 16 company-owned Angus & Robertson bookstores that have not been […]
Archives for July 2011
Agencies for Sale–Or Not
For sole proprietors or small literary agencies, a founder’s passing or ill health creates a host of uncertainties with respect to a company’s future. Do they sell the business, hire new staff, or maintain the agency’s backlist interests on a passive basis? A handful of agencies have reckoned with these choices over the past six months in a variety of ways. As reported in May, three active members of Russell & Volkening left to start a new company, Salky Hannigan Getzler Agency, taking their clients with them. Part of the reason, multiple sources told us, was that the trio attempted […]
Plus A California Tax Update, Too
It appears that the sales tax battle between the state of California and Amazon (and other online retailers) has just begun with the signing of a new law last week. Not only does the law indicate that online “affiliates” create sales tax nexus, but it also says that operating subsidiaries within the state does so as well. Amazon runs its A9 labs in Palo Alto and Lab126 in Cupertino. A spokesperson for California’s Board of Equalization says “this could all take over a year” to resolve. The board would begin to pursue collections from online vendors if they do not […]
Christopher Little Threatens Legal Action Over Blair and Rowling Departures
The UK press now has reaction from agent Christopher Little–via a spokesperson–following last week’s departures of Neil Blair from Little’s agency to set up his own company, and of star client JK Rowling, who “has terminated her association with the Christopher Little Literary Agency” will continue working with Blair at his new company. Rowling’s spokesperson says, “This was a painful decision, especially as Ms Rowling had actively sought a different outcome for some weeks. However, it was not taken without good reason and it finally became unavoidable.” Meanwhile, Little’s spokesperson implies that the action is not final, saying “he is […]
Pearson Buys Borders Australia and Angus & Robertson Web Businesses
In a different type of strategic acquisition, Pearson Australia has acquired the online bookselling and ebook businesses of the bankrupt REDGroup retail, which includes the online stores for Borders Australia and Angus & Robertson. (The sites are http://www.borders.com.au/ and http://www.angusrobertson.com.au/.) They intend to retain 16 staff members associated with the businesses, and will run the two sites separately for now. Pearson also has an agreement with REDGroup’s ebook partner Kobo. While it’s not entirely clear if they will continue to use Kobo as their vendor (REDGroup was an investor in Kobo as well), it will at a minimum give “customers continued […]
Amazon Has Deal to Acquire UK’s The Book Depository
Amazon has made yet another strategic acquisition that was just lying there within easy grasp of many others as well, bound to the extend the company’s strong hand in sales of English-language books around the world. They have an agreement to acquire the fast-growing UK-based The Book Depository, for undisclosed terms. Amazon vp of European Retail Greg Greeley says in the brief announcement, “Customers in more than 100 countries enjoy The Book Depository’s vast selection, convenient delivery and free shipping. The Book Depository is very focused on serving its customers around the world, and we look forward to welcoming them […]