Houghton Mifflin Harcourt will reap a welcome cash infusion with the sale of their Riverside Assessments division to private equity firm Alpine Investors for $140 million. HMH plans to invest the $135 million cash proceeds “in its Extensions businesses, supporting its strategy to create integrated solutions and improve student outcomes.” The deal is expected to […]
M&A
Acquisitions: HBG Buys Worthy Publishing, As Insight Editions Buys Weldon Owen
Hachette Book Group has agreed to acquire the assets of Nashville, TN-based Christian publisher Worthy Publishing. When the deal is finalized, Worthy will become part of Hachette’s Nashville publishing division. Worthy publishes across categories including inspiration, fiction, Bible study, current events, devotion, leadership, biography, and personal growth. Their fall list includes Mike Huckabee’s new book, […]
Lyntons Back New Publishing Acquisition Company, with Steinberger As CEO
Lezen Acquisition, an investment group led by Michael Lynton and his sister Lily Lynton, has bought Arcadia Publishing in the first of what they indicate will be a series of book publishing acquisitions. Former Perseus Books Group ceo David Steinberger is leading the new company as ceo, and Michael Lynton is nonexecutive chairman. “We intend to […]
Harper Acquires AMACOM
Harper Collins announced it has acquired the trade book assets of AMACOM from the American Management Association International. That means they bought the list, without the accompanying infrastructure. Their 600-title catalog will be run as a sub-imprint of the recently launched Harper Collins Leadership line, based in Nashville. HCL publisher Jeff James will oversee AMACOM […]
Waterstones Negotiating Sale to Elliott Advisors
Elliott Advisors, the UK branch of Paul Singer’s hedge fund Elliott Management, has been given “a short period of exclusivity within which to conclude negotiations” to purchase UK bookselling chain Waterstones, Sky News reported, citing a single source. The report has a measure of credibility since, as we have been writing all along, “one insider suggested […]
Penguin Random House Buys Rodale Books
Penguin Random House announced Tuesday it has purchased the trade-book publishing assets of Rodale Books from Hearst — the new owners of Rodale — and will “take over the publication of its frontlist and backlist titles effective immediately.” Longtime distributor for Rodale Books Macmillan will continue to sell and distribute the titles for the time […]