In a year of notable and often unexplained departures, Indigo Books’ new ceo Peter Ruis is the latest to depart abruptly: The company announced his apparent immediate resignation on Thursday. Ruis “has agreed to serve Indigo as a consultant for the next two months to support a smooth transition in leadership.” But the transition has been anything but smooth. Ruis joined the company in early 2021, and moved up to ceo just under a year ago. Longtime ceo and board chair (as well as founder and controlling owner) Heather Reisman retired from the company just about two weeks ago. And […]
As Expected, Majority Control of CAA Sold to Pinault Family’s Artemis by TPG
In alignment with previous news reports, private equity firm TPG will exit their 13-year involvement at CAA in a deal to sell their 53 percent stake to Artemis, the Pinault family’s investment company. (According to earlier reports, the deal is worth approximately $7 billion.) The transaction is expected to be completed later this year, “subject to the satisfaction of customary closing conditions.” CAA’s leaders Bryan Lourd, Kevin Huvane, and Richard Lovett have “each made long-term commitments to continue leading the agency and will remain” as co-chairs. After the deal closes, Lourd is expected to be named CEO. Singapore-based investment firm […]
Obituaries: Robert Abrams, Edith Grossman, Sarah Young
Co-founder and president of Abbeville Press, Robert E. Abrams, 80, died on August 28. He created Abbeville in 1977 along with his late father, Harry N. Abrams. “Publishing,” Bob wrote, “is about deciding what content, ‘speech,’ is sufficiently meaningful to try to bring it to the attention of others. It is about trying to diminish ignorance and share the grace of human consciousness.” The company notes, “He had a profound sense of the significance, and the responsibility, of the publisher’s vocation…. Colleagues and friends alike can attest that stepping into Bob’s office was stepping into a lively, sometimes hours-long conversation […]
Amy Einhorn Leaves Holt to Become Publisher of Crown Fiction
Amy Einhorn has resigned her position as president and publisher of Henry Holt, which she has held since September 2019, and will leave September 8 in order to join Crown on October 2 in the new position of svp, publisher of Crown Fiction, reporting to Crown Publishing Group president David Drake. Macmillan announced internally that Jamie Raab will oversee Holt “in the interim,” while they search for a new publisher for the division. The co-founder and president of Macmillan’s Celadon Books, Raab moved to the role of publisher-at-large for Macmillan in early 2022. (Holt has also been looking for a […]
Penguin Random House Sales Gain on Acquisitions and International, As Profits Are Flat
Bertelsmann reported results for the first six months of the year on Wednesday morning, with Penguin Random House recording sales €2.098 billion—up 9.5 percent versus €1.916 billion a year ago, due to a mix of acquisitions, international growth and the strength of Prince Harry’s memoir SPARE. But operating EBITDA remained flat even with the sales increase, at a relatively modest €258 million (compared to €257 a year ago, and a record €324 million in 2021). Interim ceo Nihar Malaviya wrote to staff that the flat earnings “should come as no surprise, as industry inflationary cost pressures and increased costs across […]
Bookselling: More Barnes & Noble Changes
The chain opens a replacement store in Brandon, FL today. The location for the smaller, planned replacement store in Cheyenne, WY has been announced, due to open on October 25. A company representative said, “This is our permanent location. We are aware of the size difference between this location and the old one (on) Dell Range, but we are going to stock all the good titles and authors that you all still love.” A long-awaited replacement store in Jonesboro, AR, taking over from a location that was damaged by a tornado in 2020, now has an opening planned for November.