Bertelsmann commissioned a study from Enders Analysis and Arthur D. Little on various media industry uses of artificial intelligence so far. In publishing, the report touts Penguin Random House’s BookBoost, “a proprietary platform that leverages first-party data, automation, machine learning, and AI to fully automate the process for Facebook and Instagram advertising.” They note the tool “helps to create, execute, and test advertising campaigns at scale with a focus on driving incremental sales and marketing efficiencies. Results to date are very promising, with key metrics on par or above benchmarks with strong performance in driving ad clickers to retail.” The […]
Tattered Cover Sets June Auction
Bids to acquire the bankrupt Tattered Cover bookstores are due by end of day June 10, and if there are multiple bids an auction will be conducted on June 12, according to an order approved by the Bankruptcy Court. In a filing with the court, the store said they have received signed NDAs from eight interested potential bidders so far. They are hopeful that “various other parties who have expressed interest in participating in the sale” will also execute NDAs. Ever optimistic, they also tell the court, “Debtor’s management has also been discussing the sale process with the notable authors, […]
Arthur and Lucas to Leave In Knopf Group Restructure
Knopf Doubleday president and publisher Maya Mavjee announced to staff Monday that Knopf publisher Reagan Arthur and Pantheon Schocken publisher Lisa Lucas “will both be leaving the company” due to a “restructure” (i.e. it’s involuntary). Mavjee writes, “I realize this is a lot of news to absorb, and I want to give you some context regarding our next steps. This realignment of KDPG is necessary for our future growth. Our new structure – consisting of a nimble, concentrated leadership team – will enable us to meet the trials of an ever-shifting marketplace, hone the shape and focus of our imprints, […]
Greenhaven Capital Discloses “Preliminary” Efforts to Make Competing Refinancing Offer for Barnes & Noble Education
Greenhaven Capital disclosed in an SEC filing that as of March 29 it acquired a 9.9 percent stake in Barnes & Noble Education, and that it has been engaged in an ongoing series of discussions about presenting a competing offer for injecting capital into the ailing company. Greenhaven indicates in the filing that it had made multiple preliminary and non-binding proposals to the BNED board for a recapitalization of the company — some in conjunction with pre-existing investor Outerbridge Capital Management — ahead of the deal announced on April 16 led by Immersion Corporation. On April 11, Greenhaven tried to […]
Reese’s Book Club to Pair with Apple
The NYT profiles Reese’s Book Club as the initiative nears its 100th pick, to be announced in September. In the club’s most powerful early days it drew some criticism and resentment from indie booksellers and others over an exclusive promotional arrangement with Audible (which ended quietly in early 2021). The very end of the NYT piece offers the news that “this month, Reese’s Book Club will unveil an exclusive audio partnership with Apple, allowing readers to find all the picks in one place on the Apple Books app.”
Abrams Acquires Taunton Books
Just months after the Taunton Press was sold to Active Interest Media last December, the new owners have sold off the Taunton Books imprint, to Abrams. AIM ceo Andrew Clurman said in the announcement, “After a review of the business and competitive landscape, it made sense for a larger trade industry player to be the home for the Taunton Books division. We feel that Abrams is the right fit and can provide focus on this business, allowing Active Interest Media to concentrate on its core competencies, producing consumer and trade magazines, websites, events, and education. We are working closely with […]