Penguin Random House filed their initial answer on Monday to the Department of Justice’s complaint seeking to block the publisher’s plan to acquire Simon & Schuster. The reply challenges the core of the DOJ’s case, which asserts that the acquisition is “likely to substantially lessen competition” for “the acquisition of US publishing rights to books from authors,” focusing in particular on what the government describes as the market for “anticipated top-selling books,” which “would be highly concentrated.” But is that an acceptable market definition? PRH argues that, “DOJ invents a market for rights to ‘anticipated top-selling books’ that excludes the […]
Authoritive Announces Funding, Legible Goes Public
Publishing-related startup Authoritive formally announced the completion of $5 million in seed funding, led by edtech venture firm Owl Ventures, and including Guardian Media Ventures. The Lean Startup author Eric Reis is also an investor and board member. Founded by literary agent Christy Fletcher, Figment co-founder Jacob Lewis, and technology executive Gene Cohen, Authoritive uses messaging technology to provide instruction, coaching and other learning experiences from experts — including such authors as Gretchen Rubin, Denise Hamilton, Sarah Knight Mark Bittman, Susan Cain, Danielle Town, and Tim Tebow. (While some are Fletcher & Co. clients, many are not.) In addition to direct-to-consumer […]
Once Again, RR Donnelly Agrees to Buyout By Atlas Holdings — and Then Receives A Higher Bid
After a bidding war that included increased offers from both Chatham Asset Management and an unidentified “strategic party,” on Thursday RR Donnelly said it has accepted a revised bid by Atlas Holdings at $10.35 a share (or $856 million in cash for the equity). The proposed deal will be sent to a shareholder vote — though the market indicated it expects still more action. After the close of the market yesterday, Chatham announced another higher offer of $10.85 a share, though the bid expires on December 13. While the board has seemed inclined to pair with Atlas since accepting an […]
The Next of the Best of the Best Books of 2021
Here is the updated look at our aggregation-in-process of the year’s very best books. With over 40 “votes” counted from a variety of highly selective lists, awards and more, the general consensus is taking shape, though both the fiction and nonfiction lists reflect a variety of books finding favor. Unlike in many recent years, there are no runaway favorites emerging — which leaves lots of worthy titles to recommend, gift and promote. (Asterisked titles were featured pre-publication in our Buzz Books collections.) The Very Best of the Best Books of 2021: Fiction 1. The Love Songs of W.E.B. Du Bois,* […]
AAP Sues to Block Maryland’s New Law on Library eBook Licensing
With Maryland’s precedent-breaking law requiring publishers to license ebooks to public libraries “on reasonable terms” set to be implemented at the beginning of 2022, the AAP has filed in the US District Court for Maryland. The association seeks, “A declaration that the Maryland Act is preempted by federal law and unconstitutional, and an injunction preventing its enforcement.” They allege four causes of action, including express and conflict preemption under the Copyright Act and the Supremacy Clause of the Constitution, along with violations of the Commerce Clause, and the Due Process Clauses. While the AAP usually supports and organizes actions brought […]
Vivendi Moves Up Timetable and Will Launch Tender Offer to Acquire Lagardere
Though Vivendi was previously awaiting regulatory approval from the French government for their acquisition of Amber Capital’s 17.5 percent stake in Lagardere — originally expecting the deal to close by December 15 — the company has decided it does not need to wait any longer. “Recent analyses carried out by Vivendi have led the company to consider that this acquisition could take place now since, in accordance with applicable rules on the control of concentrations.” Vivendi says it will not exercise the voting rights attached to Amber shares “until the approvals required for the acquisition of the control of Lagardère […]