Audiobook publisher RBmedia has acquired UK fiction publiser Boldwood, which will continue to operate independently. Boldwood ceo Amanda Ridout will remain at the helm and report to RBmedia global ceo Michael Paull. Under the deal, for which financial terms were not disclosed, all 30 employees will stay at Boldwood. In its most recent Companies House filing for 2025, Boldwood reported a profit and loss account of £8.4 million. Ridout says the board directed her to explore a sale at the end of the last year. “This acquisition strengthens our international and foreign-language publishing and ability to serve authors while delivering more […]
Finance
Publishers Ready for Settlement Windfall
As we suggested early on, while some authors will receive nice checks as a result of the landmark Anthropic copyright infringement settlement, the big winners will be publishing companies, which stand to collect many hundreds of millions of dollars. Following formal approval of the settlement earlier this week, Bloomsbury is the first (publicly traded) publisher to issue a release celebrating their expected profit. With 14,087 Bloomsbury titles covered by the settlement, the company’s fifty percent share of proceeds will yield just over $22 million.
Steidl Enters Preliminary Insolvency Proceedings
German art book publisher Steidl has begun provisional insolvency proceedings, filing an application on July 10. The court says the company failed to make social security payments amounting to 2,438 euros and several lawsuits in labor court allege that it has not paid employee salaries or paid them late. Publisher Gerhard Steidl says that the social security payments have now been made, and wages are expected to be caught up by the end of August. He told NDR: “Times are very bad for the book industry.” Boersenblatt reports that “talks with potential investors, including at the international level, have been […]
TG Jones Restructuring Plan Expected to Win Approval This Week
The draconian restructuring plan to keep UK bookstore chain TG Jones (FKA WH Smith) operating is expected to win court approval after hearings Monday and Tuesday, as at least some creditor groups have agreed to accept owner Modella Capital’s terms. Unnamed sources have told the media (including the Telegraph, Bloomberg and the Guardian) that “a number of key creditor groups, landlords among them, have accepted TG Jones’ proposal before the court hearing.” Property development company British Land, after loudly objecting, “said it would…abstain from voting following what it described as material concessions from TG Jones to treat landlords more fairly.” […]
Profile Books Acquires Solaris
UK publisher Profile Books has acquired the sci-fi and fantasy imprint Solaris from Rebellion Publishing, the Bookseller reports. Terms of the deal were not disclosed. Five Solaris staff members will move with the imprint—David Thomas Moore, Amanda Raybould, Amy Borsuk, Jess Gofton, and Natalie Sorrell Charlesworth. As of July 1, Profile will take over sales and distribution of Solaris e-books. Print books will reamain with their current distributors until September 1. “We are thrilled to be taking this big step into a new genre,” Profile ceo Rebecca Gray said. “Solaris is already home to a wealth of acclaimed authors writing […]
Wiley Buys Emerald Publishing for $452 Million
Wiley announced the significant purchase of UK-based Emerald Publishing from Cambridge Information Group in a cash transaction valued at £337 million, or $452 million. The deal brings Wiley over 480 journal brands—giving them a portfolio of approximately 2,500 journals—along with 8,000 book titles and additional content. Wiley indicates it brings additional depth particularly in economics, business, finance, accounting, management, strategy, education, engineering, information and knowledge management, operations, public policy and environmental management. CIG acquired Emerald in 2022, prior to which the publisher was a private, family-run business. Wiley touts the deal as value at seven times adjusted ebitda, inclusive of […]