The FT has a long piece on Bertelsmann ceo Thomas Rabe as he “grapples with string of failed deals and staff unhappiness.” They lead: “Some staff at Europe’s biggest media group Bertelsmann have a cruel new nickname for its chief executive Thomas Rabe: ‘Rabenvater’ — raven father. The German term, a pun on Rabe’s surname, refers to a hard-hearted man who neglects his children.” The criticism comes following three uncompleted M&A deals — the most expensive of which was the blocked acquisition of Simon & Schuster — and was further inflamed by the severe cutbacks to Gruner + Jahr. “He […]
Andrews McMeel and Portfolio Drop Scott Adams
Both of Scott Adams’ book publishers, Andrews McMeel and Portfolio, have taken steps to end their relationship with the creator following his racist remarks. Andrews McMeel said in a public statement it is “severing our relationship with Dilbert creator Scott Adams,” noting that “will extend to all areas of our business with Adams and the Dilbert comic strip.” AMP published his Dilbert books, and their subsidiary Universal Press Syndicate had syndicated the strip to newspapers. Chairman Hugh Andrews and ceo Andy Sareyan write in their joint statement, “As a media and communications company, AMU values free speech. We are proud […]
Agencies: Europa Content In “Strategic Partnership” with APA
Last week literary agency Europa Content announced a “strategic partnership” with talent agency APA. The Hollywood Reporter (which is a little confused and calls Europa a publisher; that’s Europa Editions) says, “The goal is to expand APA’s intellectual property and media rights division and to increase resources for both APA and Europa Content clients and creators across all media.” Europa founder Marc Gerald calls it, “The perfect opportunity for Europa Content to retain our boutique approach to publishing while drawing from the collective energy of a best in class agency that allows all of our clients to benefit.” THR positions […]
Indigo Employee Data Was Compromised
Canadian retailer Indigo now admits that their recent cybersecurity incident was a ransomware attack — they almost always are — and also concedes that at least “some” current and former employee data was compromised. They report, “We are notifying all affected employees. We have also notified and are cooperating with law enforcement.” The company adds on its site, “We deeply regret this incident and are committed to ensuring employees have the support they need.”
Reliving The Trial
Three months after Penguin Random House’s effort to acquire Simon & Schuster was terminated, Christian Lorentzen summarizes the August antitrust trial in a cover piece for Harper’s. Spoiler alert: PRH loses. About the most quotable graph: “The view put forth by the government was that the publishing industry was a market like any other, that its practices were routinized, that its players followed rules, and that its dynamics could be predicted by the scientific methods of economists. The defense presented it as a casino full of hippies gambling unlimited piles of money generously provided to them by multinational corporations happy […]