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.”
M&A
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 […]
Vivendi Owns 55 Percent of Lagardere Following First Tender
Vivendi and Lagardere confirmed in separate releases that approximately 11 million shares in Lagardere were tendered during the first round of Vivendi’s buyout offer, giving it 55.43 percent of the share capital in Lagardere. A second round of the main tender offer opens May 27 and closes on June 9, still at the offer price of 25 euros a share. Thereafter, during a subsidiary period until the end of 2023, shareholders can tender their stock for the lower price of 24.10 euros a share. (They will still receive dividends during that time until shares are tendered; the higher, early offer […]
Acquisitions: University of Georgia Press Buys NewSouth Books
The University of Georgia Press announced its acquisition of NewSouth Books, founded in 2000 and based in Montgomery, Alabama, with a catalog of over 400 titles. Publisher Suzanne La Rosa will join UGA Press on July 1 and continue to publish 8-12 new titles annually under the NewSouth imprint. Editor-in-chief Randall Williams will continue to edit selected titles and recommend works for acquisition. UGA Press director Lisa Bayer said in the announcement: “NewSouth Books has always punched above its weight in representing the culturally complex and socially significant Deep South to the world. We are thrilled to honor Randall and […]