The late Dick Robinson’s sons are “exploring avenues” to challenge his will, the WSJ reports. While Reece Robinson signed a document in July waiving his right to challenge the will, according to a legal filing seen by the paper, Ben Robinson declined to do so. In response to a follow-up summons, Ben and Reece responded together on November 12, “asking New York Surrogate’s Court…for documents regarding the will, written in 2018, and the right to examine related witnesses.” Thomas Rice, a lawyer at Baker & McKenzie who represents Scholastic, said: “Creating legal delays and distractions isn’t in the best interest […]
Finance
CJK Makes Another Editorial Services Acquisition
CJK Group continues to build their content services business with the acquisition of Baltimore-based Kaufman Wills Fusting & Company, which will be integrated into their KnowledgeWorks Global division. Through the Sheridan group, CJK has built one of the country’s largest book printers. KWF Consulting and KWF Editorial together employ 99 people, providing editorial services and management consulting to the scholarly publishing community, including “professional staffing solutions for journal editorial office management, peer review services, and editor support.” CEO of CJK Group Chris Kurtzman said in the announcement, “With this acquisition, CJK Group continues to build a successful global operation serving every […]
Chatham Offers Higher Bid to Acquire RR Donnelly
Chatham Asset Management, which kicked off the bidding to take RR Donnelly private and already owns just under 15 percent of Donnelly’s stock, offered a fully-financed bid to acquire the printing company for $9.10 per share in cash. They say their bid is worth approximately $48 million more than the deal from Atlas Holdings (which bought LSC Communications in bankruptcy). Chatham also filed suit in a Delaware Chancery Court, asking for the termination fee due Atlas if they do not prevail and certain other provisions to be declared unenforceable. Chatham indicated that they will pay $9.34 a share if the termination fee […]
Spotify to Acquire Findaway and Storytel Will Buy Audiobooks.com
Two big acquisitions will fuel hopes for players of scale to challenge Audible’s dominance in core markets. Spotify will acquire distributor Findaway as part of their goal to develop a meaningful presence in the audiobooks market, pending regulatory approval. The deal is expected to close in the fourth quarter of 2021; the terms were not announced. Findaway bills itself as the “world’s largest audiobook distributor,” and is a key player in distributing digital audiobooks to Apple, Google, Overdrive and others. The company also provides tools for independent authors to produce and distribute audiobooks and sells audiobook players to brands. “The […]
Another Sale at Follett: Management Leads Buyout of Baker & Taylor
Follet has sold Baker & Taylor to a private investment group, led by president and CEO Aman Kochar. The disposal follows the sale of Follet School Solutions to Francisco Partners at the beginning of September. Follet bought Baker & Taylor and Bookmasters from Castle Harlan in 2016. B&T has slimmed down since that transaction, most notably with their exit from the business of wholesaling books to retailers in 2019. Kochar says in the announcement, “This is a pivotal and exciting time for Baker & Taylor. As an independent entity, we look forward to leading with our expertise and legacy and […]
Sourcebooks Acquires B.E.S. Publishing
Sourcebooks has acquired B.E.S. Publishing from Peterson’s Publishing, in a deal that closed November 1. The deal includes more than 800 B.E.S. titles, including adult nonfiction and children’s fiction and nonfiction. B.E.S. stands for Barron’s Educational Series; Peterson’s had purchased B.E.S. a little less than two years ago from Barron’s. The line has been distributed by Two Rivers, and accounts should continue to order ttitles through Ingram Content Group through the end of 2021. “The addition of B.E.S. adds breadth, variety, and depth to our rapidly expanding children’s and adult nonfiction catalog,” said Dominique Raccah, Sourcebooks ceo and publisher. “We […]