HarperCollins will acquire Egmont Books UK, as well as Egmont’s book business in Poland and Schneiderbuch in Germany, in a deal that is set to close on April 30. (Those units are run out of Egmont Publishing, which also operates the company’s magazines, rather than the Egmont Books division, which focuses on Cappelen Damm in Norway and Lindhardt & Ringhof in Denmark.) (May 1, 2020 update: Harper UK has completed the acquisition, for an undisclosed sum.) Egmont Books UK will operate as a standalone children’s division, and will remain in its offices for now. Egmont UK managing director Cally Poplak […]
M&A
People, Etc.
Allison Carney has joined Holt as assistant director of marketing. She was most recently marketing manager at Riverhead, Viking, and Penguin. Maia Sacca-Schaeffer has joined as assistant marketing manager; previously she was digital marketing & sales associate at Farrar, Straus. Kneerim & Williams agent John Butman died unexpectedly on Monday, March 23, from what appears to have been a heart attack. He was at home in Maine after a vacation with his family. The agency remembers him as, “A priceless agent, thinker, writer, and pal. He brought us his overflowing wit, intelligence, kindness, and joy, and we will miss him sorely.” […]
McGraw-Hill Cengage Merger Further Delayed As UK Announces Deeper Review
The UK Competition and Markets Authority (CMA) announced March 24 that it would conduct an in-depth review of the planned merger between McGraw-Hill and Cengage. The review, referred to as a Phase 2 investigation, is not expected to conclude before September; meanwhile, competition agencies in the US, Australia, New Zealand, and Mexico are also still reviewing the deal. In a report on the update, McGraw-Hill says, “The completion of the merger is subject to a number of conditions, including, among others, the receipt of approval from governmental entities. No assurance can be given that the required regulatory approvals will be […]
Corporate: Scholastic Closes DCs in Cost Cutting, Bloomsbury Acquires Zed, and More
Scholastic reported results for the third quarter ending February 29, and announced cost and service cuts due to the pandemic: “We are taking aggressive actions to reduce operating expenses throughout the company, including the temporary closing of warehousing and distribution centers, and a freeze on hiring, travel and other discretionary spending not directly tied to short-term revenue, while working hard to ensure the safety and well-being of our staff worldwide,” ceo Richard Robinson said in the release. Overall sales for the quarter were $373 million, up $13 million compared to a year ago. Trade sales were even stronger — at […]
People, Etc.
Tim Holman will step down as the publisher of Orbit UK to focus on his role as svp and publisher of Orbit in the US, though he will continue to work from London. HBG ceo Michael Pietsch says, “I’m extremely happy that he has decided to devote 100% of his time and talent to even greater growth and creative publishing in the US market. Anna Jackson will move up to publisher of Orbit UK in April, reporting to Charlie King. Paola Crespo has been promoted to marketing manager at Orbit. At St. Martin’s publishing group: Rebecca Lang has been promoted to […]
UK Raises Concerns Over McGraw-Hill and Cengage Merger, Gives Five Days to Address
The United Kingdom’s Competition and Markets Authority (CMA) has given McGraw-Hill and Cengage five working days to address concerns that their planned merger will adversely affect the quality and price of textbooks available to their students. If they fail to do so, the CMA will move to an “in-depth” Phase II investigation, which could delay the merger further still. The two companies have already moved their expectations for completion of a deal from March to August, due to a slower-than-expected regulatory review in the United States. The Australian competition agency’s initial finding is also due this week. In its first […]