While reporting earnings on Thursday, Vivendi disclosed that it is prepared to spin off the Editis publishing group into its own separate, publicly-traded company in order to win approval from EU and French regulators to acquire Lagardere as a whole. The company said, “To avoid any potential antitrust problems due to its combination with Lagardère Group, Vivendi will study the proposed divestment of 100% of its subsidiary Editis mainly through a distribution and stock market listing.” But quotes from company executives make it clear they are well past a study. “We knew that there would be some (competition) hurdles,” Vivendi’s […]
M&A
Astra Acquires DAW
Astra Publishing House has acquired sci-fi/fantasy publisher DAW Books from owners and co-publishers Betsy Wollheim and Sheila Gilbert. According to a release, Astra will take on the entire staff of DAW. The publisher has issued over 2,000 titles since its founding more than 50 years ago in 1971. “We’re so excited to have DAW join our group here at APH. We have long been impressed with their amazing authors and unparalleled place in the pantheon of science fiction and fantasy publishing,” Astra coo Ben Schrank said. “We can’t wait to help them build on their legacy so they can continue […]
Acquisitions: RBMedia Acquires Upfront Books
RBMedia announced the acquisition of audiobook publisher Upfront Books, founded in 2019 by Tyler Finkelstein. The company works with publishers, self-published authors, and literary estates. RBmedia CEO Tom MacIsaac said in the release, “We’re impressed with the quality of the business and catalog that Tyler and his team have built in just a few years. This acquisition supports RBmedia’s continued business growth and expansion initiatives.” Upfront says they have a “technology-driven process to identify, license, produce, and publish great titles as audiobooks for the very first time.”
CAA Closes Acquisition of ICM
Following an extended delay awaiting government review, CAA has completed their acquisition of ICM, first announced in September 2021. The deal is reported as valuing ICM at $750 million. (When ICM sold a minority one-third share in the agency to Crestview Partners in 2019, the price was reportedly approximately $150 million.) In the original announcement, CAA had emphasized the strength of ICM’s books department: “ICM’s industry-leading books division superbly complements CAA’s content-driven motion pictures, television, and podcasting businesses, in addition to its speakers arm, and other divisions.” Today’s announcement adds, “ICM brings to CAA a leading literary agency in the […]
Acquisitions: Spectrum Publishing Buys Odd Portal Studios
Spectrum Publishing has acquired sci-fi and fantasy publisher Odd Portal Studios. Spectrum owner Kelly Rinne said, “Everyone here at Spectrum is excited about this acquisition. We have a solid foundation of science fiction and fantasy titles, and I look forward to expanding our roster of talented authors and narrators in these genres.”
Little Group Acquires B&T UK
The Little Group, which owns wholesaler Gardners, has purchased Baker & Taylor UK from ceo Amandeep Kochar, The Bookseller reports. A private investment group led by Kochar bought what remained of B&T last fall. B&T UK will continue operating with its own name, and no staff changes are planned. Executive chairman Gareth Powell and managing director Annette Burgess will remain on the board. “We are pleased to welcome Baker & Taylor UK to the group, complementing our offer to the UK and international book markets, and we look forward to building on this to provide even better services in the […]