As most readers know now, fanciful rumor changed to factual possibility on Wednesday morning when Pearson issued a brief statement responding to recent press accounts: “Pearson confirms that it is discussing with Bertelsmann a possible combination of Penguin and Random House. The two companies have not reached agreement and there is no certainty that the discussions will lead to a transaction. A further announcement will be made if and when appropriate.” Penguin Group ceo John Makinson followed the Pearson press release with a short cover note to Penguin employees soon thereafter, attaching the announcement “concerning a potential partnership.” Makinson acknowledged […]
Finance
Hackers Steal Credit Card Information From 63 Barnes & Noble Stores
Barnes & Noble revealed Wednesday (after multiple outlets reported the news the previous evening) that hackers gained access to customer credit cards used at 63 store locations in nine states, including at least nine stores in the New York City area. The company said the hackers “planted bugs in tampered PIN pad devices, allowing for the capture of credit card and PIN numbers” in these stores, and the PIN pads have since been removed and will not be reinstalled. Purchases at BN College stores and online through BN.com or the various Nook platforms were not affected. BN learned of the […]
Canada’s D&M Publishers Will Seek Bankruptcy Protection; Looks for Investor or Sale
Independent Canadian publisher D&M–which owns Douglas & McIntrye and Greystone Books–announced Monday evening it intends to file for bankruptcy protection. The company said in a short statement “it has filed a Notice of Intention to make a proposal under the provisions of the Bankruptcy and Insolvency Act.” As part of that process, “D&M management will be working with the Bowra Group to locate an investor or purchaser for its assets.” Current ownership purchased a majority interest in D&M in 2007, with former investment banker Mark Scott leading an investor group that included “two of the founders of one of Canada’s largest and […]
International: Bertelsmann Drops Gruner + Jahr Buyout Plan; UK Kindle Lending; Casual Vacancy Passes A Million
Gruner + Jahr said in a statement Friday that, contrary to earlier indications from August, Bertelsmann will not buy up the remaining 25.1 percent in the company not already under its control. “In our intensive and constructive talks with Bertelsmann, we came to the conclusion that the challenges ahead for G&J can best be mastered together,” Jahr managing director Winfried Steeger, managing director of Jahr Holding said in the statement obtained by Bloomberg. Bertelsmann ceo Thomas Rabe added: “Bertelsmann will continue its more than 40 year long, successful relationship with the Jahr family. We are in a strong position to […]
Amazon, From New York Publishing to Potential Brazilian Acquisition
We know how you can be, and some of you may be enjoying the WSJ’s piece “Amazon Struggles to Crack Publishing” piece a little too much this morning. The focus of the article is that print sales for Amazon’s recently launched New York-based trade imprint are low–because most other outlets are not stocking the company’s titles. (Nielsen BookScan shows sales of approximately 7,000 hardcover copies of Penny Marshall’s My Mother Was Nuts, which includes print sales through Amazon.com itself. But there is no data available on ebook sales.) Tim Ferriss, who approached Amazon directly to sell them his next book […]
Pearson Pays $650 Million for Learning Services Company; Springer Hires JP Morgan and Goldman Sachs
Pearson announced Tuesday an agreement to acquire online learning services provider EmbanetCompass for $650 million from an investor group led by Technology Crossover Ventures and Knowledge Universe. Those services include providing colleges and universities with “program design and development, marketing and student recruitment, faculty training and support, data-driven student retention and learning analytics; student services (counseling, tutoring, mentoring), technology support and launch funding.” The investment is similar to Wiley’s purchase earlier in the month of Deltak.edu for $220 million. EmbanetCompass’s sales are expected to hit $130 million in 2012. Further to reports earlier this month that Springer‘s latest owners would […]