As we flagged back in May, the US dollar continues to enjoy a stunning increase in value versus the euro in particular, but also against a broad basket of other currencies, including the British pound. As of now the dollar has hit parity with the euro — one dollar buys one euro — for the first time since 2002, shortly after the euro was launched in 1999. With the Federal Reserve expected to raise rates against soon, many traders believe that the parity barrier will be broken and the dollar will continue to move higher still against the euro. The […]
Finance
Astra Acquires DAW
Astra Publishing House has acquired sci-fi/fantasy publisher DAW Books from owners and co-publishers Betsy Wollheim and Sheila Gilbert. According to a release, Astra will take on the entire staff of DAW. The publisher has issued over 2,000 titles since its founding more than 50 years ago in 1971. “We’re so excited to have DAW join our group here at APH. We have long been impressed with their amazing authors and unparalleled place in the pantheon of science fiction and fantasy publishing,” Astra coo Ben Schrank said. “We can’t wait to help them build on their legacy so they can continue […]
Giuntis Grow Quarto Stake
Since last August, Quarto’s controlling owner CK Lau has been steadily increasing his holdings in the company, building to control of over 50 percent of shares by April. Now, following a sharp falloff in Quarto’s stock price since its peak in late April, Lau’s other major partner the Giunti family of Italy, has added to their stake as well. According to a recent UK securities filing, Montecristo 2019, a holding company associated with Andrea Giunti Lombardo, acquired almost one million shares of Quarto stock this week. With the recent purchases, the Giunti family now has control over approximately 9.1 million […]
Acquisitions: RBMedia Acquires Upfront Books
RBMedia announced the acquisition of audiobook publisher Upfront Books, founded in 2019 by Tyler Finkelstein. The company works with publishers, self-published authors, and literary estates. RBmedia CEO Tom MacIsaac said in the release, “We’re impressed with the quality of the business and catalog that Tyler and his team have built in just a few years. This acquisition supports RBmedia’s continued business growth and expansion initiatives.” Upfront says they have a “technology-driven process to identify, license, produce, and publish great titles as audiobooks for the very first time.”
CAA Closes Acquisition of ICM
Following an extended delay awaiting government review, CAA has completed their acquisition of ICM, first announced in September 2021. The deal is reported as valuing ICM at $750 million. (When ICM sold a minority one-third share in the agency to Crestview Partners in 2019, the price was reportedly approximately $150 million.) In the original announcement, CAA had emphasized the strength of ICM’s books department: “ICM’s industry-leading books division superbly complements CAA’s content-driven motion pictures, television, and podcasting businesses, in addition to its speakers arm, and other divisions.” Today’s announcement adds, “ICM brings to CAA a leading literary agency in the […]
Barnes & Noble Education Splits Top Job In Two, Renews Standstill with Investor
Ahead of reporting their fiscal fourth quarter later this week, Barnes & Noble Education announced that it has separated the roles of board chair and ceo, effective immediately. Lead independent director Vice Admiral John R. Ryan now serves as board chair, with Mike Huseby remaining as ceo. Additionally, Outerbridge Capital Investment’s chief investment officer Rory Wallace has been nominated to join the board at the next annual meeting in September and the investment firm renewed its standstill “cooperation agreement” first struck two years ago, when BNED explored and then abandoned a sale of the company. (Outerbridge currently holds 2 of […]