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International: Quarto Sells Hong Kong Services, Storytel Expands

Following the sale of their ANZ Books & Gifts Direct business earlier this year, Quarto is continuing to slim the non-publishing part of their portfolio. They will sell their 75 percent stake in Hong Kong-based Regent Printing Services to 1010 Printing Group for $7 million (which includes $2.5 million for Quarto's share…

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BN Board Authorizes New Stock Repurchase to Boost Share Price

The Barnes & Noble board has authorized spending up to $50 million to repurchase the retailer's inexpensive shares. While that seems like a modest initiative by most corporate standards, BN stock has been trading near its low point and as of Wednesday, that new authority would have covered roughly 8…

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London Announcements from Storytel, Faber, and More

Sweden's acquisitive Storytel purchased People's Press in Denmark, which publishes about 100 titles a year, as of March 1. They paid approximately $10.7 million. People's Press had 2016 sales of about $14.5 million, and has a backlist of approximately 1,200 titles. Storytel acquired audiobook publisher Kontentan earlier this year, following last year's…

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Rabe Reaffirms Plan to Buy Part of Penguin's Stake, and Bring In Financial Partner

Bertelsmann chief executive Thomas Rabe reiterated in an interview with Germany's Der Spiegel the plan for Bertelsmann to buy only part of Pearson's 47 percent stake in Penguin Random House, while looking to a financial partner to buy out the remainder. "I expect we will raise our stake to 70 or…

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Corporate: Rovio Spinoff, New York Wants to Tax Online Marketplaces, and More

Angry Birds creator Rovio Entertainment spun off their book publishing business as Kaiken Publishing last month. The separate unit will "build on Rovio's book business while also developing publishing programs for new stories, worlds and characters. Kaiken will concentrate on children's and teen content as well as comics for all…

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Corporate: History Press Management Buyout, and More

In the UK, three members of management have acquired The History Press in a buyout from private equity firm Octopus Investments. Finance director Gareth Swain will take over as managing director since former MD Tim Davies did not participate in the buyout and has left the company. Laura Perehinec is now publishing…

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Murray Shares More HarperCollins Figures

HarperCollins ceo Brian Murray spoke at a Deutsche Bank investor conference in Palm Beach, FL on Monday, providing a measured but bullish review of the publisher's strengths and prospects. Throughout the interview Murray shared a variety of data points. As is the case broadly, "the fastest growing component of our…

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Hachette UK Buys Bookouture

Hachette UK has announced the acquisition of digital publisher Bookouture, founded by Oliver Rhodes in 2012. Rhodes will continue to run the unit, and will also serve in the new position of digital publisher at Hachette UK, "steering and advising" to "help increase ebook sale across the group," and join…

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Family Christian Stores to Liquidate and Close

The largest chain of Christian book and merchandise stores Family Christian announced that it will liquidate its assets and close all of their outlets, comprising over 240 stores in 36 states. The statement did not provide a timetable for the liquidation. President Chuck Bengochea says in the press release, "We had two…

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Corporate: Adams Acquisition, Capstone Sells Digital Platform, and More

Simon & Schuster's parent company CBS filed their annual report with the SEC at the end of last week. While it does not directly state the purchase for Adams Media, acquired in the fourth quarter of 2016, a little arithmetic yields the answer: S&S paid approximately $42 million to purchase…

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