RBmedia has an agreement to acquire audiobook publisher Dreamscape Media, which includes Dreamscape Publishing and Dreamscape Select. The transaction is expected to close in the third quarter of 2024. Dreamscape produces and distributes audiobooks in 60 countries, and also provides services to self-published authors looking to create audiobooks. Founded in 2010, Dreamscape has a catalog of over 7,000 audiobooks. The company said previously it had sales of $30 million in 2023, up from $23.5 million in 2022. RBmedia ceo Michael Paull said in a release, “The acquisition of Dreamscape will give RBmedia additional depth in key genres and enable us […]
Finance
Booktopia Files for Bankruptcy
Australian retailer Booktopia finally made its long-awaited announcement, that it is filing for voluntary bankruptcy. The stock continues to be suspended from trading on the Australian Stock Exchange, and McGrathNicol Restructuring is “undertaking an urgent assessment of Booktopia’s business while options for its sale and/or recapitalisation are explored,” a release states. The first meeting with creditors will take place before July 15.
DK Acquires “A Kid’s Book About” Series
DK has acquired US-based media company A Kids Co.’s book series A Kid’s Book About. The line of children’s books, focused on diverse storytelling and representation, has been sold direct-to-consumers. DK had previously licensed and sold a portion of the line and now will sell the full list of 170 titles globally. A Kids Co. was founded in 2019 by author and entrepreneur Jelani Memory. The company will “continue to produce new podcasts, operate the direct to consumer business, seek brand partnerships outside of books, and pursue additional multi-media opportunities to tell impactful stories for kids of all ages.” Memory […]
IPG Sells Digital Distribution Business to Bookwire
Independent Publishers Group (IPG) will “upgrade” its ebook and audiobook distribution services by pairing with Bookwire to use their cloud-based system. In turn, Bookwire will take advantage of access to IPG’s digital print and distribution services. Update: According to a subsequent release from investment banking firm Oakins Desilva Phillips, Bookwire actually “acquired the digital distribution business of IPG and entered into a long-term strategic partnership.” Indeed, in a letter to clients, IPG ceo Joe Matthews wrote that “IPG has come to an agreement with Bookwire…to acquire IPG’s INscribe Digital business.” IPG ceo Joe Matthews says in the announcement, “IPG’s digital […]
Lagardere Returns As CEO Following Partial Lifting of Ban
Following a judicial appeal, there was a “partial lifting of the management activities ban imposed on” Arnaud Lagardère, as he faces criminal charges of “vote buying, abuse of power and breach of trust, disseminating false or misleading information and failure to publish accounts.” As a result, he has resumed his position as chair and ceo of Lagardere SA.
Booktopia to Remain In Limbo Until Late July or Later
Struggling Australian retailer Booktopia announced that it expects to remain in financial limbo until late July or beyond. After suspending trading of its stock in the middle of June while the company seeks new financing and/or credit as “necessary for the company’s continued financial viability,” the company has been extending its own deadline further and further out. Now, the company tells the Australian Stock Exchange, it does not expect to have news regarding “the additional funding it is seeking” until July 19. The only progress reported is that “due diligence has been undertaken by some of these parties [suppliers and […]