Audiobook publisher Podium Entertainment has been sold to private equity firms Flexpoint Ford and Shamrock Capital by its owner Presidio Investors, for “north of $400 million” according to the WSJ. Music rights company GoldState Music is also named as a minority investor in the purchase. Podium said that going forward it is working with the nonprofit Ownership Works “to establish a program giving all employees an ownership stake in the company and aligning the team with Podium’s next phase of growth.” In connection with the transaction, former Spotify executive David Kaefer will join Podium’s board. Started in 2013, Podium has […]
Barnes & Noble Acquires Joseph-Beth Booksellers
Another well-known independent bookstore brand has been sold to Barnes & Noble, as Joseph-Beth Booksellers announced the sale of “their two bookstores and bistros located at The Mall at Lexington Green in Lexington, Ky. and Rookwood Pavilion in Cincinnati, Ohio.” Store owner and chair Robert Langley said in the announcement, “This decision was made for the continued success of Joseph-Beth Booksellers. For 40 years, Joseph-Beth has been more than a bookstore. It has been a gathering place for readers, families, local authors, teachers and neighbors. In honoring its importance to the communities its two stores serve and to support its […]
Obituary: Mary Evans
Literary agent Mary C. Evans, 74, died peacefully at her home in Hudson, NY on September 4. She started her publishing career at Farrar, Straus and Giroux and then spent 17 years at the Virginia Barber Literary Agency before opening her own agency in 1994, Mary Evans Inc., which continues to serve current authors. She represented writers including Abraham Verghese, Erika Krouse, Michael Chabon, Charles D’Ambrosio, Sally Fallon, and many more Memorial contributions in her honor may be made to Bridge Hotel Farm — 184 Orchard Rd, Hudson, NY 12534. Funeral arrangements are private and under the care of Breanna […]
BNED Sales Are Just Above Flat, As Loss Decreases
Barnes & Noble Education reported sales for the fiscal first quarter ending August 1 on Tuesday. Sales were just above flat for the traditionally quiet summer quarter, at $290.6 million, up $2.4 million from a year ago. Same-store sales were up 3.7 percent, but they operated fewer stores due to closures, “including exits from certain less profitable locations.” The net loss for the period was $12.9 million, compared to a loss of $18.3 million a year ago. Total debt at the end of the quarter was $123.5 million, down from $170 million a year ago. The company still isn’t willing to […]
Authors, OpenAI File for Summary Judgement In New York Infringement Case
All of the parties in the consolidated AI copyright infringement cases against OpenAI and Microsoft in New York’s Southern District filed motions for summary judgement. There is one set for the books plaintiffs (covered here) and another set for the news plaintiffs (led by the New York Times, not covered here). The books suit is led by the Authors Guild and named plaintiffs including David Baldacci, John Grisham, Elin Hilderbrand, Christina Baker Kline, George R.R. Martin and Jodi Picoult, first brought in late 2023. The plaintiffs declare that, “OpenAI’s GPT models pose an existential threat to those who write and […]
Obituary: Fred Ciporen
Publisher of Publishers Weekly, Library Journal, and School Library Journal from 1988 through 2003, Fred Ciporen died on September 5. The funeral will be held on September 10, at the Plaza Jewish Community Chapel, 630 Amsterdam Avenue in New York City.