In the first significant investment by a major trade publisher in self-publishing, Pearson announced Thursday morning that it has acquired self-publishing service Author Solutions from Bertram Capital for $116 million in cash (or a little more than one times sales). ASI, formed in 2007 from the merging of iUniverse, AuthorHouse, and other related self-publishing services, was put up for sale earlier this year. Pearson said in a statement the buy “gives Penguin a leading position in this fast-growing segment of the publishing industry and brings significant opportunity for the two companies to collaborate. Penguin will gain access to ASI’s expertise […]
Archives for July 2012
People: Peeters to Leave Perseus, McCarthy Rises; Corey to Leave Random; Keating and Brick House Form New Agency
Perseus Books Group executive Clare Peeters, who has been with the company eight years and is currently vp, corporate strategy & business development, is leaving the company on August 1. She is joining investment firm Axel Johnson as vp, managing director. As coo Joe Mangan notes, “Clare has played an integral role in publishing initiatives, joint ventures, strategic business transactions, and many of our most critical operational issues.” With Peeters’ departure, Sabrina McCarthy is being promoted to the new position of president, Perseus Distribution Client Services and is taking on executive leadership of Argo Navis. Greg Anastas is being promoted to […]
Osprey Acquires Duncan Baird and Watkins Publishing; DreamWorks Said to Bid for Classic Media
Osprey Group has acquired Duncan Baird Publishers, which focuses on illustrated books in the fields of food, health and well-being, mind, body and spirit, culture, religion and faith, including its Watkins Publishing unit (which Duncan Baird originally bought in 2004.) Duncan Baird’s total sales in 2011 were £5.5m while Osprey Group’s sales were £7m. “We are absolutely thrilled to welcome Duncan Baird and Watkins into the group,” Osprey Group ceo Rebecca Smart said in a statement. “Duncan has created a really strong business in the growing lifestyle and transformation publishing areas and has also worked on strengthening the Watkins name. We plan […]
Where’s Chuck? Schumer Says DOJ eBook Pricing Case “Empowered Monopolists and Hurt Innovators”–In An Op-Ed
New York Senator Chuck Schumer, who represents many of the estimated 50,000 or so New Yorkers employed by the publishing industry, has finally stirred himself to comment on the Department of Justice’s ebook pricing case. For now, he does so in a venue with no real consequences, penning an op-ed column in the Wall Street Journal. Schumer writes: “I am concerned that the mere filing of this lawsuit has empowered monopolists and hurt innovators. I believe it will have a deterrent effect not only on publishers but on other industries that are coming up with creative ways to grow and […]
People, Etc.
Former vp, director of marketing innovation at Random House Peter McCarthy has launched McCarthy Digital, a marketing strategy and consultancy designed to help trade book publishers define and realize their business and marketing strategies. Kristin Ostby has joined Simon & Schuster for Young Readers as editor. She was most recently a senior editor for Albert Whitman. Simon Thorogood will join Headline on August 28 as publisher, non-fiction, reporting to Jonathan Taylor. He was most recently editorial director at Transworld imprint Bantam Press.
2011 Trade Sales Fell Slightly In New BookStats Figures, As eBooks Near $2 Billion and Comprise 31 Percent of Adult Fiction
The annual BookStats statistical survey–a joint project between the AAP and the BISG–released a small set of “headline” data on Wednesday, in advance of fuller publication of data to subscribers next week. According to their extrapolations, the overall US publishing business inclusive of all sectors (trade, educational, professional, scholarly, etc.) accounted for $27.2 billion in sales, down roughly 2.5 percent from $27.94 billion in 2010, though unit sales grew by 3.4 percent. For the trade, where we focus our reporting and analysis, they estimate sales of $12.517 billion for 2011, down slightly from estimated sales of $12.59 billion in 2010. […]