Mark your schedules for our next roster of featured guests on Wednesdays at the new PublishersMarketplace forum, Discuss. We are delighted to welcome: May 19: SVP & publisher at Flatiron Books Megan Lynch June 2: Literary agent Gail Hochman at Brandt & Hochman June 16: Literary agent Josh Getzler at HG Literary The discussions are always at Noon Eastern, and last about 30 minutes. These are straight-forward, typed, message board conversations. You don’t need any invitations, or links beyond those above. Discuss has no cameras, no sound, no zooming, no separate apps required. It’s typing. Use the “reply” button to […]
International: Frankfurt Offers Money-Back Guarantee, PRH Deal Is Cleared in the UK
With a May 31 registration deadline that’s still looking too close for comfort for many, the Frankfurt Book Fair is expanding further on their already-promised “generous cancellation policy.” Additional funding from the German government has led the fair to proclaim that “the terms of cancellation can now be updated so that exhibitors will bear no financial risk from the impact of the global pandemic. Even if the fair is cancelled or if exhibitors are unable to travel to Frankfurt in October on short notice due to the pandemic situation, no cancellation fees will be charged.” Separately, the UK’s Competition & […]
Elliott Buys Paper Source Out of Bankruptcy, to be Run by BN CEO James Daunt
Elliott Investment Management announced an agreement to acquire the assets and operations of bankrupt stationery retailer Paper Source for approximately $91.5 million, with $40 million of that in cash and the rest in loans. The investor says its purchase will allow Paper Source “to emerge from Chapter 11 with the support of a well-capitalized owner committed to the development and growth of the business.” Paper Source filed for bankruptcy protection abruptly in early March, carrying over $100 million in debt (against gross sales in 2020 of $104 million). The filing was controversial as a number of suppliers complained that Paper […]
Korea’s Kakao Buys Out Radish and Tapas Media as Naver Closes Wattpad Acquisition
South Korean’s Kakao Entertainment is buying serialized fiction app Radish for $440 million and web comics platform Tapas Media for $510 million. The purchases expand on Kakao’s popular webtoons business, currently focused on Korea and Japan. Kakao was already a minority investor in both companies — reported to own about 13 percent of Radish after helping to lead their $63 million Series A financing, and with a recently-increased stake of 40 percent in Tapas. “We are planning to engage the North American market in earnest through the intellectual property (IP) business” with the two acquisitions, Kakao Entertainment CEO Jinsoo Lee […]
Harper Closes Houghton Mifflin Harcourt Acquisition
HarperCollins formally completed their acquisition of Houghton Mifflin Harcourt’s trade division on Monday. HMH interim president Ed Spade will report to Harper ceo Brian Murray. HMH publisher, adult trade Deb Brody will report to president and publisher of the Morrow Group Liate Stehlik, and HMH Children’s publisher Cat Onder will report to Harper Children’s president and publisher Suzanne Murphy. The company says that “all sales rep, customer support, order processing, and the like will remain the same for the time being.” Murray says in the announcement, “We are happy to welcome HMH Books & Media employees, authors, and illustrators to […]
Save Your Place for the Buzz Books Editors Panel
Remember to hold the date for our much anticipated virtual Buzz Books Editors Panel, convening on Wednesday, May 19 at 7 PM Eastern, co-presented by the American Booksellers Association. You can register here — and the first 50 booksellers who enroll will get a package of galleys for the featured titles. In May, a week ahead of the panel, we’ll release the next packed edition of our popular digital sampler, Buzz Books 2021: Fall/Winter, with substantial excerpts from all of the featured titles along with dozens of other breakout new titles on the way. The panel will feature these […]