The French government’s competition authority has approved Vivendi’s acquisition of Editis, the second-largest book publisher in France after Hachette Livre, finding that the transaction “was not likely to undermine competition in the markets for cultural property.” The Authority “took into account the respective market shares of the parties, the organization of the relevant markets, the competitive […]
M&A
One Wholesaler to Rule Them All? Ingram Reportedly Looking at Baker & Taylor Acquisition
The Federal Trade Commission is reportedly conducting a “preliminary nonpublic investigation” about booksellers’ use of major wholesalers, Shelf Awareness reports, and telling some interview subjects that the queries are related to the possibility of Ingram acquiring Baker & Taylor. One person interviewed characterized it as a “fact finding” mission to investigate the effects of a consolidation that would […]
YA: Abrams Cancels Graphic Novel; Lerner Acquires Zest Books
Abrams has cancelled publication of controversial graphic novel A SUICIDE BOMBER SITS IN THE LIBRARY by writer Jack Gantos and illustrator Dave McKean, which was to be released in May 2019. The decision was made “together with the book’s creators,” after the title received criticism online. Abrams said in a statement, “While the intention of the […]
Vivendi Formalizes Deal to Buy Editis In France
Three months after announcing “exclusive negotiations with Grupo Planeta,” last week in reporting third quarter earnings Vivendi said it had signed a share purchase agreement for French publishing group Editis. The deal requires approval from the French Competition Authority, though Vivendi says preliminary “favorable opinions” were issued on November 8, and September 13. They hope the […]
Corporate: Trustbridge Buys Peachtree; Pearson Sells Property
Trustbridge Global Media, an affiliate of Shanghai-based private equity and venture capital firm Trustbridge Partners, bought children’s publisher Peachtree Publishers in a deal that closed November 7. The company will now be called Peachtree Publishing Company. Based in Atlanta, the publisher has operated since 1977, and maintains a backlist of adult titles in addition to children’s books. […]
WH Smith Was The Potential Barnes & Noble Buyer
The WSJ names the “book retailer” that made offers to buy Barnes & Noble last spring that fell apart on June 19, as described in Demos Parneros’s defamation and breach of contract lawsuit against the retailer, and the company’s answer to those charges and countersuit. “People familiar with the situation say it was WH Smith […]