With no more JK Rowling books to issue in German, Bloomsbury is relinquishing their division in that country, announcing an agreement to sell Berlin Verlag to Bonnier’s German subsidiary, which owns Piper Verlag. In classic Bloomsbury fashion, the deal structure has multiple parts. Bloomsbury will receive a total of 4.4 million euros in cash–but only 2.6 million euros are for the purchase of Berlin Verlag. Piper will have a three-year license, renewable at Bloomsbury’s option, to publish the company’s trade books in Germany (worth 800,000 euros in the deal) and 1 million euros to use Bloomsbury Berlin and other related […]
