As readers may recall in January we analyzed domestic book deal trends for 2020, finding that deal volume rose measurably, across all major categories — even as financial investment in the biggest deals softened, particularly in adult books. With NPD Bookscan showing print book sales stronger than ever across the first quarter of 2021 — with sales of approximately 186 million units, up a big 26.5 percent compared to 147 million units in 2020 — we looked at our deal report statistics for the same period. In line with those very strong consumer print book sales, our deal reports also […]
Endeavor Files For An IPO Again, Reveals Covid Financial Impact
Endeavor Group has once again filed registration documents with the SEC for an initial public offering of shares in their hodgepodge of debt-laden assets. The filing comes after the company abandoned their previous IPO at the last minute in September 2019. Tepid interest and a weak market for IPOs at the time led them to reduce expectations from $600 million in proceeds down to $400 million. As part of the filing, the company delineated the “significant impact” of Covid-19 on their business, hitting the representation segment hardest of all. 2020 sales were $3.479 billion — down from $4.571 billion in […]
Up for Discussion
We have a number of new experiments and refinements on the way in April, starting with a new user forum at PublishersMarketplace: Discuss!. You should be able to click through any time you are already logged in to PM. The emphasis as we get started will be hosting regular AMA sessions with a variety of trade publishing veterans, with a focus on serving the growing number of authors who use PublishersMarketplace. (If you’re interested in joining us a featured guest, please write to robin@publishersmarketplace.com.) We’ll also use the Discuss! forum to help answer questions and share knowledge about how to […]
New CEO Promises “The Continued Development of Hachette Livre”
On Monday, Hachette Book Group USA ceo Michael Pietsch wrote to employees about the departure of longtime Hachette Livre/Lagardere Publishing ceo Arnaud Nourry, “I’m deeply saddened by this news. In the fifteen years that we have been part of Hachette Livre, Arnaud has strongly championed HBG, our employees, and our authors, while also advocating for a healthy publishing ecosystem. His vision and integrity, combined with his keen understanding of the publishing business on a global scale and the cultural importance of books and writers, have been core to our successes…. We will miss Arnaud enormously.” At the same time, Pietsch […]
Nourry Exits As CEO of Lagardere Publishing
Just days after hiring a new pr consultant and embarking on a broad press campaign to reiterate his opposition to seeing parts of Lagardere Publishing sold to aggressive shareholder Vivendi, longtime ceo of the publishing division Arnaud Nourry “has decided to part ways with the Group on an amicable basis,” the company announced. As France’s Le Figaro put it, “One interview too many. By speaking in Le Monde to oppose any dismantling of Hachette Livre, Arnaud Nourry signed his end.” Co-managing partner of Lagardère (and therefore loyal supporter of company chief executive Arnaud Lagardere) Pierre Leroy was named chairman and ceo […]
News Corp to Buy Houghton Mifflin Harcourt Trade for $349 Million
As expected, Houghton Mifflin Harcourt Books & Media will be acquired by News Corp for $349 million in cash and operated as part of HarperCollins. The deal is expected to close in the second quarter, “subject to customary closing conditions, including regulatory approvals.” The announcement indicates that HarperCollins “expects to realize immediate cost savings, accumulating to more than $20 million annually within two years, including manufacturing, distribution and other cost efficiencies. HarperCollins also anticipates revenue synergies by leveraging its global scale and further expanding licensing opportunities.” HMH Books & Media had sales of $192 million in 2020, with net income of […]