The slow but persistent battle over who will buy RR Donnelly continues. The unidentified strategic buyer has increased its bid to $11.50 a share after completing its due diligence — but they still need until February 8 to finalize their financing. In the meantime, Donnelly is moving forward with their latest formal agreement, in which […]
M&A
Follett Book Fairs Sold to Literati
After saying they would exit their unprofitable school book fair business as of last November, Follett School Solutions has now announced the sale of that business to book subscription business Literati. According to the release, “Literati will inherit the Follett Book Fair infrastructure, including book inventory, distribution centers, and key members of the executive, sales […]
Acquisitions: Paperblanks to Hachette UK
Hachette UK has acquired notebook publisher Paperblanks. The terms of the deal were not announced. Paperblanks, which is headquartered in Dublin and has co-branding partnerships with the Getty Museum and New York Public Library, will operate as a standalone business under Hachette UK, reporting to deputy group ceo Richard Kitson. Paperblanks founder and ceo Victor […]
CAA-ICM Merger Postponed Amid Justice Inquiry
CAA’s acquisition of ICM, originally planned to be completed by the end of 2021, has been delayed as the Department of Justice’s antitrust division questions the deal’s “impact on the entertainment industry,” according to the Hollywood Reporter. They cite “multiple sources familiar with the matter.” The parties now hope to close the merger in Q2 […]
Acquisitions: RBmedia, Chicago Review Press
RBmedia has acquired German audiobook publisher ABOD, which will supply titles to its newly launched German-language audio brand RBmedia Verlag. ABOD licenses and produces audio titles from German publishers, focusing on nonfiction, primarily politics and economics. ABOD founder and ceo Rudi Singer, said, “Since founding ABOD in 2012, I have put much work and care […]
2021: The Year In Mergers
It was a blockbuster year for mergers and acquisitions, even with the headline-making lawsuit brought by the Department of Justice to try to block Penguin Random House‘s deal to acquire Simon & Schuster. Prospective sellers across the publishing landscape read the environment and made big deals, often at healthy multiples. With growing sales, strong profits, […]