As set in motion earlier this year, former ceo of Australian online bookseller Booktopia Tony Nash was re-elected to the company’s board — and at Nash’s instigation, directors Fiona Pak-Poy and Judy Slatyer resigned from the board. Director Su-Ming Wong resigned in September, and current non-executive chair of the board Chris Beare will step down […]
Finance
Scholastic Buys Back Fewer Shares Than Allocated
Scholastic announced preliminary results of their “modified Dutch auction” launched in late October to boost the company’s stock price. Authorized to buy up to $75 million in stock, approximately 534,000 shares were tendered and will be purchased at $40 a share — costing the company about $21.35 million. As a result, the stock now trades […]
Charlesbridge Publishing Acquires Move Books
Charlesbridge Publishing has acquired Move Books, a children’s imprint with a “mission to move more boys to read with high-interest middle-grade fiction.” The deal includes Move backlist titles, which will be distributed under Charlesbridge starting April 2023. Going forward, the company will launch Move founder Eileen Robinson joined Charlesbridge in October as editorial director of […]
Storytel Gets Breathing Room With Capital Raise that Includes Otava As New Shareholder
Storytel has given itself a significant financial lift with a new share issue that raises approximately 400 million SEK (about $37 million) from its two largest shareholders — EQT Public Investment and Roxette Photo — while also bringing in Finnish media company and book publisher Otava as an investor. (In a separate announcement, Otava says […]
PRH Acquires Remaining Stake in PRH Grupo Editorial Portugal
Penguin Random House Grupo Editorial announced Friday it has agreed to purchase the remaining minority stake of 15.6% of PRH Grupo Editorial Portugal from Manuel de Freitas and his family. De Freitas had retained that share when selling the 20|20 Editora group to PRH in 2021. With that transaction, de Freitas leaves the company, where he […]
Scholastic Boosts Their Slumping Stock with $75 Million Buyback
Scholastic has lifted their depressed stock price with an announcement Monday of a $75 million share purchase program through a modified Dutch Auction. The offer opens on Tuesday, October 25 and is scheduled to close by November 22, and will buy back shares at an expected price of between $35 and $40 a share. (On […]