The Taunton Press has been acquired by “enthusiast media company” Active Interest Media. AIM president at ceo Andrew Clurman said in a release, “AIM and Taunton are closely aligned on several important fronts. While the symmetry of many of our core markets is obvious; woodworking, gardening, and homebuilding; there are many other similarities. Strategically, like AIM, Taunton has been aggressively pursuing the creation of new digital products, memberships, and online learning to better serve their audiences. Most importantly, Taunton shares with AIM a commitment to growing and promoting both the communities we serve, and our fantastic teams dedicated to that […]
Finance
Leaver Unveils New Publishing Group
Marcus Leaver has announced the launch of his new company, Gemini Books Group. The goal is to “build a publishing business focused on the UK and North American markets through the acquisition of established companies and by incubating start-up businesses in scalable areas of the market.” Gemini has acquired Imagine That!, Palazzo Editions, Ad Lib Publishers, Mardle Books and Pimpernel Press. Managing director of Palazzo and Mardle Jon Rippon serves as group finance director of Gemini and sits on the board. Leaver says in the announcement, “I look forward to working with Jon to build a publishing business where we […]
Quarto to Go Private
As we suggested well over a year ago, there has been little reason for Quarto Publishing to continue operating as a publicly traded company on the London Stock Exchange — and on Thursday morning, the company announced a plan to go private. CK Lau and his Honk Kong-based company 1010 Printing Limited already have a controlling 50.08 percent stake in Quarto, with lead minority investor Andrea Giunti Lombardo owning 22.34 percent. The stock trades very lightly, and fell substantially at the end of August when Quarto reported a 16 percent decline in sales for the first six months of their […]
Vivendi Finalizes Takeover of Lagardere
Following a second promised sale (of Gala magazine to Groupe Figaro), Vivendi announced Tuesday that it has officially closed its deal for a controlling interest in Lagardere. Vivendi’s executives say in the announcement, “As we do for all our businesses, while preserving its integrity, we will support Lagardère in its development and the transformation of its businesses. Together, we will strengthen our international presence in the fields of creation, content and distribution. We are delighted to start a fruitful collaboration, bringing all our activities to new heights.” Vivendi owns 60 percent of Lagardere stock, and just over 50 percent of […]
Academic Partnerships to Acquire Wiley University Services
Academic Partnerships, which provides online learning for public college students, has agreed to acquire Wiley’s university services arm, which “works with institutions to deliver career-connected education programs.” Academic Partnerships will pay $110 million along with up to $40 million in earnout based on results over the next two fiscal years. Pending regulatory approval, it is subject to close in early 2024. According to a release, “the combined company will provide universities with a best-in-class partner to support them in delivering programs online so more students can access affordable education, improve their careers, and meet employer and community needs.” “Wiley University […]
Vivendi’s Sale of Editis Approved
The European Commission has approved Vivendi’s sale of French-language book publisher Editis to Czech Media Invest (CMI), owned by Czech billionaire Daniel Kretinsky. Through equity firm Vesa, Kretinsky also owns a 25.03 percent portion of French book retailer Fnac Darty. The Commission decided that, since Kretinsky’s minority stake does not allow him to control Fnac Darty, the purchase of Editis would not lead to any competition issues between the retailer and Editis. Now that Editis is spun off, the EU will likely approve Vivendi’s purchase of Lagardere.