Archive | Finance RSS feed for this section

Finance: BN Education Sinks, More From Bertelsmann

The stock of Barnes & Noble Education was hit hard after their fourth quarter earnings report on Wednesday morning, falling over 20 percent to a new all-time low at the end of trading on Thursday, below $8 a share -- and still falling further in the first hour on Friday.…

Login to read more, or join Publishers Marketplace as a member

Pearson Settles for Selling 22 Percent of PRH for About $1 Billion

Rather than exit the Penguin Random House joint venture entirely, Pearson agreed to sell a 22 percent stake to majority owner Bertelsmann in a deal yielding $1.034 billion, as part of a recapitalization of the trade publisher, while retaining a 25 percent holding going forward. The deal gives PRH an…

Login to read more, or join Publishers Marketplace as a member

Quarto Falls on Profit Warning, and China Literature Heads for IPO

Ahead of reporting results for the first half of 2017,  Quarto Group warned that its earnings guidance "for 2017 and beyond has been set too high." That's due to both "a lower-than expected trading performance in the year to date" during "the ongoing soft retail environment" as well as an accounting…

Login to read more, or join Publishers Marketplace as a member

PRH Closes Ediciones B Purchase, Ingram Buys NBN's UK Distribution

Penguin Random House formally completed their acquisition of Ediciones B's imprints from Grupo Zeta (reportedly for 40 million euros), and those lines become part of Penguin Random House Grupo Editorial. (An investment group indicates that Ediciones B had sales of approximately 13 million euros in 2015.) Director-general of Ediciones B,…

Login to read more, or join Publishers Marketplace as a member

PubNet and PubEasy US Sold to MVB In Germany

NPD has sold the Pubnet and PubEasy ordering services, which they acquired from Nielsen as part of the Bookscan group at the end of 2016, to Germany's MVB Marketing, a subsidiary of the German Publisher and Bookseller Association. The transfer is effective July 1, and the services will comprise a…

Login to read more, or join Publishers Marketplace as a member

Penguin Eliminates Blue Rider Press

Penguin Publishing Group president Madeline McIntosh has closed another of the group's publishing lines, writing to staff that she had "made the difficult decision to discontinue Blue Rider Press as a standalone imprint." President and publisher David Rosenthal, who came to Penguin in early 2011 to create the imprint, and…

Login to read more, or join Publishers Marketplace as a member

Rodale to Explore Sale

Further to our theory that in today's climate publishing and media companies are either buyers or sellers, privately-held Rodale indicated in a press release that the board is exploring the company's future and may sell part or all of the enterprise. They have retained Allen & Company to advise them…

Login to read more, or join Publishers Marketplace as a member

Amazon to Acquire Whole Foods Market

Just a day after Bloomberg reported that Amazon had expressed interest in acquiring communication tool Slack at a valuation of $9 billion or more, the etailer itself has announced a larger and more profound actual acquisition: They are buying Whole Foods Market, for cash, in a transaction valued at approximately…

Login to read more, or join Publishers Marketplace as a member

Penguin Random House Acquires Merchandise Company, Out of Print Clothing

Penguin Random House announced Wednesday that on June 1 they acquired Out of Print Clothing, a New York-based company that produces t-shirts as well as other clothing, accessories and home goods featuring book-cover art and literary-themed designs. In the announcement, PRH declares that the acquisition signals "its intent to greatly expand its…

Continue reading

Briefs: Swedish Chain Sold, Milo's Pre-Orders, and More

Sweden's largest bookseller Akademibokhandeln has been sold to industrial group Volati, which purchased control from Accent Equity (along with acquiring minority stakes from a group of companies, including publisher Natur & Kultur). With 108 stores, Akademibokhandeln is said to comprise 35 percent of Sweden's book sales. The group had sales…

Login to read more, or join Publishers Marketplace as a member