Amazon has confirmed (to both the Bookseller and PW) signing “new long term agreements with Penguin Random House in both the US and the UK,” ratifying that alarmist accounts of a standoff starting from a UK tech blog were, as expected, overblown. The important part is what was not disclosed: any change in fundamental ebook terms of sale now that PRH is no longer constrained by the US consent decree and the EU commitments. PRH says they “don’t discuss any aspect of our customer relationships” in public — and for now, agents we were able to contact had not heard anything […]
Finance
People, Etc.
At Hachette Livre, Pierre Danet has been promoted to group chief digital innovator, reporting to Arnaud Nourry, while continuing to supervise digital projects in France, reporting to Catherine Cussigh. In addition, Eva Dunoyer moves up to innovation project manager. At Sourcebooks, Susan Raasch is being promoted to senior accounts receivable specialist, and Sara Bonnar is being promoted to accounting manager. Due to a US sales restructuring at DK, svp, sales Therese Burke and director of special sales Vicki Korlishin have had their positions eliminated. Burke may be contacted at trez914@gmail.com and Korlishin may be reached at vkorlishin@gmail.com. Head of Bilheimer & Associates (and head of PR for […]
Hachette UK Acquires Nicholas Brealey; Abacus Imprint Takes Over 100-YEAR-OLD-MAN Rights
Hachette UK has acquired Nicholas Brealey Publishing, which focuses on global business, personal and professional development, and travel writing, after which the company will become an imprint of John Murray Press. Nick Brealey will continue to manage the lists, reporting to John Murray managing director Nick Davies. All of the UK staff will move to Hachette UK’s London offices, while three employees working for the US-based imprints Davies-Black and Intercultural Press — head of Boston office Janet Crockett, sales manager Melissa Carl, and head of production Jen Delaney — will move into Hachette Book Group’s Boston office toward the end […]
Nebraska Book Company Sells Retail Division to Follett
The Nebraska Book Company has sold its Neebo retail division to Follett, which will lead to the loss of 60 jobs at the company’s headquarters in Lincoln, NE. The sale of Neebo, for which terms were not disclosed, comes after the Nebraska Book Company announced it would close its Lincoln store next month, and enables the company to “concentrate on textbook distribution and technology support for independent college book retailers,” the Omaha World-Herald reports. Interim president and chief executive Ben Riggsby added in the announcement: “Nebraska Books Company is realizing the opportunity to shift its strategic focus to the singular […]
Norway’s Schibsted Sold
In Norway, the Schibsted Group is selling Schibsted Forlag, one of the country’s leading trade publishers, to Vigmostad & Bjørke. They are also selling them their ebookstoore EBOK.No, for undisclosed terms. The two units had combined 2014 sales of approximately $24 million, with an EBITDA loss of about $1.8 million. Schibsted will book an “immaterial gain” on the sale. The publishing house was founded in 1839. Chair of the board of Schibsted Forlag Bernt Olufsen says in the announcement: “Vigmostad & Bjørke has a solid history, and has over the last 25 years developed very well in the Norwegian book publishing industry. Today, it […]
Next, Barnes & Noble Buys Out Half Their Preferred Shares
On Friday we reported on the revised Barnes & Noble College prospectus that confirmed the dissolution of Nook Media, and later that day Barnes & Noble filed a second disclosure with the SEC. The company is converting a little over half of the special preferred shares that were created when Liberty Media invested $204 million in the bookseller in 2011. (Liberty sold all but 10 percent of those preferred shares in April 2014 for a nice profit.) In the new transaction, five owners of preferred stock are exchanging 104,000 preferred shares for a little over 6.1 million shares of Barnes […]