Ingram Content Group has an agreement to sell their etextbook platform VitalSource Technologies to Francisco Partners, an investment firm focused on technology businesses. The acquirer says in the announcement it is, “Committed to furthering the VitalSource mission of improving learner outcomes and accelerating our commitment to developing innovative, forward-thinking solutions and platforms that open doors to affordable and impactful learning experiences to students and professionals around the world.” The deal is expected to close this summer. Ingram bought the business in 2006 and has grown it to service 16 million learners worldwide. VitalSource president Kent Freeman says in the announcement, […]
eNews
People, Etc.
Shelley Husband has joined the Association of American Publishers as senior vice president, government affairs and special projects. Most recently she was staff director and general counsel for the House Committee on the Judiciary from 2013 to 2019. At Hachette Livre, Nathalie Houël has been promoted to group chief financial officer. Arnaud Robert becomes group secretary general, responsible for all legal matters, compliance, insurance and institutional relations. Juliane Chevallier moves up to internal audit and internal control director. All three will report to deputy ceo Fabrice Bakhouche. Kevin Lopez becomes group chief controller, reporting to Houël. Marian Brown has been promoted […]
Storytel Meets Its Growth Goals for 2020, Sets Aggressive New Targets
Swedish audiobook subscription service Storytel published its 2020 annual report, with total sales of SEK 2.39 billion ($268 million), up from SEK 1.84 billion, exceeding its goal for the year despite a strong Swedish krona. The company’s pretax loss was SEK (210) million, an improvement from SEK (380) million last year, though the company remains focused on growth over profit. “Storytel’s strong expansion focus, which prioritizes growth over profitability, will remain in place as long as customer acquisition creates value and contributes to making more markets profitable at a local level.” (One more market reached profitability in 2020, in the […]
Tencent’s Ebook Outlet Launches North American Platform
China Literature, the ebook venture of the Chinese chat and gaming giant Tencent, has launched a North American platform, featuring more than 200,000 original English-language titles as well as 1,000 works translated from Chinese. (All My Beasts Are Legendary and Rebirth: Pampered Wife’s Counterattack are the two titles currently featured on the front page’s top carousel.) Called WebNovel, the platform seeks to “transplant the strategy proven successful in China to the new market, to build a content eco-system where we could build on our IP,” China Literature’s head of international business Sandra Chen, told Reuters. In China, the ebook platform […]
Digital Briefs: Costco Audiobooks, AAP Opposes Library eBook Legislation
Costco started selling value-priced collections of digital audiobooks recently, playable through their own audiobooks app. For now they offer approximately 175 different collections to members. As Maryland (and other states) considers legislation that would require ebook publishers to also “license the book to public libraries in the state on reasonable terms,” the AAP explains in opposition that such state laws are invalid. “Federal copyright law prohibits this type of regulation of copyrights by state governments,” the organization writes. And such legislation also “raises significant Commerce Clause and Due Process Clause concerns and would likely be found to violate the U.S. […]
Briefs: Barnes & Noble Announces New Tablet, Endeavor Eyes IPO Again
Barnes & Noble will replace their out-of-stock Nook branded tablet with a new model from Lenovo. Like their previous tablet, the new model will be 10.1 inches and priced at $129.99, available as of April 5. After pulling their planned IPO at the last minute in September 2019 and broad layoffs during the pandemic, Endeavor is reported to have filed confidential paperwork for another public offering of shares with the SEC.