Spotify has been talking a big audiobook game for a while without really doing anything. Now, the WSJ reports, “Spotify plans to test a free audiobook bundle for its paying subscribers in the coming months.” Sources tell the WSJ the pilot program “would allow subscribers to listen to up to 20 hours of audiobooks a month at no additional cost.” Titles and compensation remain unclear: “The scope of titles available through the program is expected to be broad, but is still being finalized.” It’s expected to be a limited-time offer that will “likely” be made in English-speaking countries, including the […]
Archives for September 2023
Indigo’s New CEO Resigns
In a year of notable and often unexplained departures, Indigo Books’ new ceo Peter Ruis is the latest to depart abruptly: The company announced his apparent immediate resignation on Thursday. Ruis “has agreed to serve Indigo as a consultant for the next two months to support a smooth transition in leadership.” But the transition has been anything but smooth. Ruis joined the company in early 2021, and moved up to ceo just under a year ago. Longtime ceo and board chair (as well as founder and controlling owner) Heather Reisman retired from the company just about two weeks ago. And […]
As Expected, Majority Control of CAA Sold to Pinault Family’s Artemis by TPG
In alignment with previous news reports, private equity firm TPG will exit their 13-year involvement at CAA in a deal to sell their 53 percent stake to Artemis, the Pinault family’s investment company. (According to earlier reports, the deal is worth approximately $7 billion.) The transaction is expected to be completed later this year, “subject to the satisfaction of customary closing conditions.” CAA’s leaders Bryan Lourd, Kevin Huvane, and Richard Lovett have “each made long-term commitments to continue leading the agency and will remain” as co-chairs. After the deal closes, Lourd is expected to be named CEO. Singapore-based investment firm […]
Wiley’s Q1 Sales Were “As Expected” After Reorganization
Wiley reported earnings for the first quarter of fiscal 2024, with sales of $451 million, down 7 percent. Operating loss was $(16) million, an increase of 4 percent. Adjusted EBITDA fell 10 percent to $60 million. “Our Q1 performance was as expected as we continue to execute on our plans and position Wiley for the future,” president and ceo Brian Napack said. “While Research was down due to an unusual publishing pause in the second half of last year, we are seeing underlying strength and momentum returning, including growing article volumes, higher journal impact scores, and new partner signings. We […]
Suzanne Herz to Leave PRH; Anchor to be Phased Out
Suzanne Herz, evp, publisher of Vintage/Anchor has taken the company’s VSO package and will leave on December 15. President and publisher of Knopf Doubleday Group Maya Mavjee writes in the announcement that Herz will continue to work with PRH in “an external, consulting role as John Grisham’s longtime publisher overseeing his frontlist and backlist in concert with John’s Doubleday team.” Hertz has been with the company for 30 years, holding roles including publicist, publicity director, marketing director, associate publisher, and publisher. Mavjee notes, “Over the course of her exemplary three decades (and counting) in the business, she has orchestrated award-winning […]
People 9/7
Priyanka Krishnan will join William Morrow/Avon as executive editor starting October 9. She was most recently at Orbit.