The NYT celebrates the continuing success of Sourcebooks’ Bloom Books imprint. In 2023 Bloom had already grown to sales of more than $100 million less than three years after its founding, and sales for 2024 are up another 58 percent. “In an era when TikTok can catapult authors to success overnight, Bloom has developed a lucrative formula: courting self-published authors who have a built-in fan base, taking over their print distribution, building up their brand and market share and turning them into mainstream best sellers. That model has propelled the careers of novelists who now rank among the genre’s most […]
Finance
2024: The Year In Mergers
It was a pretty odd and modest year in mergers and acquisitions if we are being honest. Not only were there no blockbuster deals, there were very few acquisitions of any significant scale at all. There was a cluster of distress sales, however: Australian retailer was bought out of bankruptcy reorganization, as was Tattered Cover in Colorado. Barnes & Noble Education avoided delisting of its stock through a complicated refinancing that left Immersion Corporation in control. Canadian retailer Indigo went private in order to reorganize and recover, and Endeavor went private again after only a few years as a public […]
Acquisitions: Soaring Kite Books
Lerner Publishing Group has acquired children’s publisher Soaring Kite Books, effective January 1. Soaring Kite will continue to operate under its current name, with founder Ceece Kelley remaining involved as a consultant. Adam Lerner, ceo and publisher of Lerner Publishing Group, said in a release, “Lerner has had the privilege of distributing Soaring Kite Books since their inaugural publishing season in 2021, and over the past few years, we’ve seen firsthand the tremendous impact their titles have had on young readers and educators alike. This successful partnership has paved the way for Soaring Kite to become a Lerner imprint. We […]
Louis Hachette Group Stock Jumps On First Listing
The new spin-off company created by Vivendi, the Louis Hachette Group, started trading in France on Monday morning. The stock was priced at €1.12 per share, giving the company an initial market capitalization of €1.11 billion–though shares jumped at the open, trading above €1.40 per share during the morning. The group comprises Vivendi’s controlling share in Lagardere, which still trades on its own, as well as Prisma Media. The value of the new spinoff seems modest, however, given that Lagardere on its own has a market cap of almost €3 billion.
Vivendi Spin-Off Plan Is Approved, and Lagardere Stake will Trade As Louis Hachette Group
Vivendi shareholders approved the company’s plan to break up the conglomerate into multiple parts, with new stock listings later this month for the Canal+ broadcasting assets, the advertising agency Havas, and a newly-named Louis Hachette Group. That Louis Hachette Group will comprise Vivendi’s controlling 66.5 percent stake in Lagardere (which includes both Lagardere Publishing as well as the big travel retail division), alongside Prisma Media, France’s leading magazine publisher. The Bolloré Group, which currently controls Vivendi, will own roughly 31 percent of the Louis Hachette Group, which will begin trading on the Euronext Growth (Paris) stock exchange on December 16, […]
Crown Acquires Compendium
Crown Publishing Group has acquired illustrated and gift book publisher Compendium, which will become an imprint of Ten Speed Press. The details of the deal were not disclosed. According to a release, Compendium will “retain its own distinct editorial identity and continue to lead the creation and promotion of the Compendium portfolio.” Kobi Yamada becomes president, Compendium, “working closely as a partner and creative liaison to Ten Speed Press.” Jim Darragh is now Compendium svp, finance and operations and chief marketing officer Renee Holmes becomes Compendium associate deputy publisher. EVP, publisher of Clarkson Potter and Ten Speed Press Aaron Wehner […]