Any lingering expectation that Barnes & Noble chairman Len Riggio might still take the company’s bookstores private was further dampened Thursday morning by the disclosure that Riggio sold 3.7 million shares of the company’s stock. The SEC filing indicates he received the below-market price of $17.30 per share “in a privately negotiated block trade” yesterday. That reduces his holdings in the company to roughly 20 percent, or approximately 12 million shares. Riggio says in the announcement, “After this sale I remain the company’s largest shareholder, a position I feel very good about. I love this company and I believe in its […]
Archives for April 2014
BEA Challenges Start-Ups In New Contest
This year’s BEA is featuring a “Book Expo Challenge” contest focused on start-ups that’s a hybrid of floor display space and a chance at two prizes. For $599 registrants/contestants get a table and two chairs in a little “Startup Alley” section of the trade show floor (inside the Digital Discovery Zone). Registered companies also get to pitch their propositions to a panel of judges — Dawn Barber (NY Tech Meetup); Brian Cohen (NY Angels); Dominique Raccah (Sourcebooks); Jordan Bettman (Bain Capital Ventures); and David Roland (Ingram Content Group Ventures — on Thursday, May 29. The judges can award a $10,000 […]
People, Etc.
Allison Renzulli has joined Houghton Mifflin Harcourt in the new position of culinary digital editorial director. She will be working from the New York office with the culinary marketing, editorial, and digital teams to oversee multiple digital initiatives. She was formerly senior marketing manager at Clarkson Potter. Elyse Turr has been named sales and marketing manager at Shire Publications and Old House Books, part of the Osprey Group. She was formerly an assistant marketing manager at Oxford University Press. Mike Salisbury has joined Yates & Yates as associate literary agent. Most recently he was marketing director of trade books at […]
WME Details IMG Cost Cuts for Lenders
Sports Business Journal and The Wrap both obtained financial documents prepared in connection with William Morris Endeavor’s debt offerings, lining up financing for their acquisition of IMG. The transaction is due to close May 1, though the two sources disagree on the actual price (between $2.375 billion and $2.45 billion). The documents provide an interesting look at WME’s operations, as well as its ownership going forward. Their minority private equity backer Silver Lake will own 50 percent of the combined agency (up from 31 percent); WME will own 47 percent, and an Abu Dhabi sovereign wealth fund will hold 3 […]
People: Boudreaux Gets Imprint At Little, Brown
Ecco editorial director Lee Boudreaux will move to Little, Brown as of September 2, where she will be editorial director of an eponymous imprint, aiming to publish 8 to 10 titles a year. Publisher Reagan Arthur says in the announcement: “Lee is one of the most respected editors in the business, widely admired not just for her adventurous and discerning eye but also for her sharp editorial skills. I’ve long wanted to work with her, and I’m absolutely thrilled to welcome her to Little, Brown, where I know she and her new list will be an exciting part of our […]
Corporate: A Wiley Acquisition; and Job Cuts At RH Children’s UK and Weltbild
Wiley announced another sizable acquisition, agreeing to pay $175 million in cash to purchase French-based learning solutions provider CrossKnowledge, which focuses on leadership and managerial skills development. The deal is expected to close on May 1. Wiley has been investing heavily in their professional development division, and acquired a related firm, Profiles International, less than two weeks ago. CEO Steve Smith says the two purchases, along with Inscape (which they bought in 2012 for $85 million), “positions us as a leader in the rapidly-growing area of enterprise talent management. In today’s knowledge-based economy, organizations of all different shapes and sizes […]