Swedish streaming audio company Storytel has acquired a 70 percent stake in Swedish publishing house Bokfabriken. The publisher will work independently within Stortel with ceo Lasse Brahme remaining in the position. Bokfabriken’s current owners will retain a 30 percent stake. “We are happy to welcome Bokfabriken to Storytel Group,” Storytel ceo Bodil Eriksson Torp said in a release. “Driven by entrepreneurship, they have established themselves as one of the leading publishers in the audio segment in Sweden and have a proven track record of publishing commercially successful content across various genres that resonates well with the Storytel audience. This acquisition […]
Finance
Full Circle: HMV Said to be Interested in WH Smith High Street Stores
HMV, the UK retailer that oversaw the near-death of Waterstones before selling the book chain in 2011 — and then went through two bankruptcy reorganizations — is now reported by the Sun to be “in discussions” about purchasing WH Smith’s high street stores. HMV is now owned by Doug Putman, a Canadian entrepreneur. Restructuring firms Hilco and Alteri and PE firm Modella Capital are also considered as likely bidders. The paper says, “The retail group has been in negotiations with several prospective buyers of the high street division for several weeks.” The Telegraph notes that “analysts have suggested the business, […]
Penguin Random House to Acquire Australia’s Text Publishing
Text Publishing in Melbourne, Australia announced a deal in which they will be acquired by Penguin Random House. The publisher was founded in 1990 and has been majority owned by publisher Michael Heyward and senior editor Penny Hueston, in partnership with Maureen and Tony Wheeler (the founders of Lonely Planet). Heyward said in the release, “Text has created an unparalleled space for itself in Australian publishing. Now it’s time for a new owner to provide a home for the company’s entrepreneurial energies and its family of brilliant authors. We are lucky to have the right custodian in Penguin Random House […]
Bankrupt Diamond Owes Penguin Random House Over $9 Million
In Diamond Comic Distributors’ bankruptcy filing, Penguin Random House is listed as their largest creditor, owed $9.2 million. Among other publishing companies, Disney Consumer Products is owed $1.7 million; Simon & Schuster $600,000; VIZ Media $421,000; and Titan Publishing $357,000. Restructuring firm Getzler Henrich & Associates is a “financial advisor” in the bankruptcy and managing director Robert Gorin is co-chief restructuring officer of the company now according to the filing. Raymond James & Associates is the investment banker advising on the sale of the business units.
Diamond Comic Distributors Files For Bankruptcy
Diamond Comic Distributors filed a voluntary petition for bankruptcy in the United States Bankruptcy Court for the District of Maryland, “to facilitate the restructuring of its business.” Universal Distribution has made a $39 million stalking horse bid for the Alliance Game Distributors unit. The company writes in a press release that they have received $41 million in debtor-in-possession financing from JP Morgan Chase to “fund post-petition operating expenses and ensure adequate working capital to meet its obligations to associates and suppliers.” Universal has also entered a Letter of Intent to buy Diamond UK. In what appears to be an organized […]
Harper Holland Acquires Altamira, Becht, Dominicus, and Hollandia
Harper Holland has acquired lifestyle imprints Altamira, Becht, Dominicus, and Hollandia from Gottmer Uitgevers Groep, effective March 1, 2025. Associated staff will stay on at the imprints. Jan-Joris Keijzer, managing director, HarperCollins Holland says in a release, “The lifestyle imprints Altamira, Becht, Dominicus, and Hollandia have an impressive publishing history, exceptional authors, and great books and have become strong brands in their own right, trusted by generations of readers. We are proud to welcome these brands and their fantastic supporting team members under the umbrella of the HarperCollins publishing group and look forward to shaping the future of the publishing house […]