Pearson announced the $250 million sale of its K-12 courseware division to private equity group Nexus Capital Management, a sale which the company had been pursuing for at least a year as part of its simplification strategy. Chief executive John Fallon says it “frees us up to focus on the digital first strategy that will…
Finance
Vivendi Completes Buyout of Planeta’s Editis
Vivendi formally closed their acquisition of France’s second-largest publishing group Editis from Spain’s Planeta on January 31, following approval from the French Competition Authority at the beginning of the month. The actual sale price still has not been disclosed (though it should be eventually, since Vivendi is a public company). For now they continue to…
Corporate: New Amazon Imprint, Hachette Buys Board Game Company, and More
Amazon Publishing is adding an Amazon Crossing Kids imprint, publishing children’s picture books in translation, with three announced titles, for publication beginning in July. Two Lions editorial director Kelsey Skea is editorial director of Amazon Crossing Kids as well, working in collaboration with Two Lions editor Marilyn Brigham and Amazon Crossing editorial director Gabriella Page-For….
Final IRS Guidance On Business Tax Break Favors Publishing Professionals, Except for “Performing Arts” Licenses
On Friday the Treasury Department issued “final regulations and other guidance” to help clarify the application of last year’s tax cut for many owners of sole proprietorships, partnerships, trusts, and S corporations. One closely-watched provision for high-earning authors and other creators, as well as independent publishing professionals such as agents, scouts, publicists and others, is…
Children’s Publishing: Executives Buy Bonnier’s US Children’s Lines; Sourcebooks Adds Three Imprints
Continuing last year’s developments that saw changes in leadership at Bonnier Books’ English-language divisions and a slimming of their lines (including the sale of Weldon Owen to Insight Editions), the company has sold the children’s publishing lines that comprised Bonnier Books USA. CEO Shimul Tolia and cfo Thomas Morgan have bought the division from Bonnier Books….
Ingram Entertainment Buys Baker & Taylor Entertainment
Ingram purchased “certain assets” from Baker & Taylor in a deal that closed January 11 — but the buyer was Ingram Entertainment, the video and home entertainment distributor, not Ingram Content Group, and they acquired B&T’s entertainment products distribution division (including “retail customer agreements for the purchase of video and audio music products”). Reportedly, the Federal…