In the first significant investment by a major trade publisher in self-publishing, Pearson announced Thursday morning that it has acquired self-publishing service Author Solutions from Bertram Capital for $116 million in cash (or a little more than one times sales). ASI, formed in 2007 from the merging of iUniverse, AuthorHouse, and other related self-publishing services, was put up for sale earlier this year. Pearson said in a statement the buy “gives Penguin a leading position in this fast-growing segment of the publishing industry and brings significant opportunity for the two companies to collaborate. Penguin will gain access to ASI’s expertise […]
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People: Peeters to Leave Perseus, McCarthy Rises; Corey to Leave Random; Keating and Brick House Form New Agency
Perseus Books Group executive Clare Peeters, who has been with the company eight years and is currently vp, corporate strategy & business development, is leaving the company on August 1. She is joining investment firm Axel Johnson as vp, managing director. As coo Joe Mangan notes, “Clare has played an integral role in publishing initiatives, joint ventures, strategic business transactions, and many of our most critical operational issues.” With Peeters’ departure, Sabrina McCarthy is being promoted to the new position of president, Perseus Distribution Client Services and is taking on executive leadership of Argo Navis. Greg Anastas is being promoted to […]
Where’s Chuck? Schumer Says DOJ eBook Pricing Case “Empowered Monopolists and Hurt Innovators”–In An Op-Ed
New York Senator Chuck Schumer, who represents many of the estimated 50,000 or so New Yorkers employed by the publishing industry, has finally stirred himself to comment on the Department of Justice’s ebook pricing case. For now, he does so in a venue with no real consequences, penning an op-ed column in the Wall Street Journal. Schumer writes: “I am concerned that the mere filing of this lawsuit has empowered monopolists and hurt innovators. I believe it will have a deterrent effect not only on publishers but on other industries that are coming up with creative ways to grow and […]
People, Etc.
Former vp, director of marketing innovation at Random House Peter McCarthy has launched McCarthy Digital, a marketing strategy and consultancy designed to help trade book publishers define and realize their business and marketing strategies. Kristin Ostby has joined Simon & Schuster for Young Readers as editor. She was most recently a senior editor for Albert Whitman. Simon Thorogood will join Headline on August 28 as publisher, non-fiction, reporting to Jonathan Taylor. He was most recently editorial director at Transworld imprint Bantam Press.
People: Obits for Stephen R. Covey, Donald J. Sobol
Stephen R. Covey, author of the 1989 self-help bestseller 7 HABITS OF HIGHLY EFFECTIVE PEOPLE, died early Monday at the Eastern Idaho Regional Medical Center in Idaho Falls from the residual effects of a bicycle accident in April, his family said. He was 79 years old. 7 HABITS and additional follow-up titles have sold more than 20 million copies in over 38 languages. Simon & Schuster ceo Carolyn Reidy said in a statement the publisher was “deeply saddened by Covey’s passing” and the company “is honored to have had a long lasting, company-wide and close association with Dr. Covey and […]
People, Etc.
Barnes & Noble has hired Thomas Donohue as vp, treasurer and Kanuj Malhotra as vp, corporate development. Donohue was most recently vp, assistant treasurer, International of the The Interpublic Group of Companies, while Malhotra was previously vp, finance head for the graduate programs business unit of Kaplan Test Prep. In addition, Andy Milevoj has been promoted to vp, investor relations. All three executives report to cfo Michael Huseby. At Bloomsbury, Kathleen Farrar is being promoted from her position setting up Bloomsbury Australia and will take over as group sales and marketing director as of January 1, 2013. She will be […]