Pearson announced the acquisition of edtech company Lumerit Education, which focuses on college degree completion and affordability, valuing the company at $29 million. Lumerit’s 70 employees will become part of Pearson’s Online Learning Services business. Separately, Sourcebooks will resume their holiday rapid replenishment program again for independent bookstores. The program starts November 4 and continues through December 19.
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People, Etc.
Sean deLone has been promoted to assistant editor at Atria. At Abrams, Trish McNamara O’Neill has been promoted to senior manager, digital & social media marketing, children’s books. Claire McLaughlin has joined Flatiron Books as publicist. She was previously an associate publicist at Little Bird Publicity. Jordan Hanley has moved over to Nightfire as marketing manager. She was at St. Martin’s. Forthcoming Former Acting Solicitor General Neal Katyal (with Sam Koppelman)’s IMPEACH: The Case Against Donald Trump will be published by Houghton Mifflin Harcourt in trade paperback on November 26. “If we don’t impeach President Trump, then we will live […]
International: Companhia das Letras Acquires Zahar, Sourcebooks Expands
Companhia das Letras in Brazil announced last week that they took 100 percent control of Zahar, based in Rio de Janeiro and focused on books devoted to the human and social sciences. Luiz Schwarcz says in the announcement that founder Jorge Zahar “was a master when it came to publishing books that would stay the course…. I have had no greater honor in my life than being chosen to carry forth a legacy that changed the history of book publishing in Brazil.” Penguin Random House owns 70 percent of Companhia, and ceo Markus Dohle adds, “It’s an enormous privilege for all […]
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Luana Horry has been promoted to editor at HarperCollins Children’s. Jennifer Udden joins New Leaf Literary & Media as literary agent; she was previously agent at Barry Goldblatt Literary. Kate Sullivan joins as senior content development manager; she was senior editor at Delacorte. Meredith Barnes joins as business development manager; she was publicity manager at Harper Collins. Monica Odom has founded Odom Media Management, a literary agency focused on “voices and stories that have been historically hushed.” She will continue to represent nonfiction, literary fiction and illustrated titles for both children and adults, including her existing client list. She was […]
Elliott Advisors Officially Acquires Barnes & Noble
August 6 was the closing date for the tender offer for Barnes & Noble shares, and Elliott Advisors reports that approximately 82 percent of all shares outstanding were tendered. Those shares — and with it the entire BN — are paid for today, August 7, and Barnes & Noble has officially become a “privately held, indirect wholly-owned subsidiary of Elliott.” The bookseller’s shares will no longer trade on the New York Stock Exchange. In the announcement, Elliott reiterates that it “seeks to build upon this strong foundation as it addresses the significant challenges facing the bricks and mortar book retail […]
Shareholder Sues Over Barnes & Noble Sale; F+W UK Books Business Sold
Investor Richard Scarantino filed suit in a Delaware Federal Court against Barnes & Noble, seeking class action status on behalf of stockholders, arguing that the company’s tender offer solicitation “omits material information with respect to the Proposed Transaction, which renders the Solicitation Statement false and misleading.” From a Google search, filing lawsuits just like this one is the primary activity for which Scarantino is known. In particular, he charges that the statement left out “material information regarding the company’s financial projections” for the future. As well, he alleges it left out certain details about the financial analyses performed by financial […]