Kobo’s evp of business development Todd Humphrey reiterates to Publishing Perspectives that both Brazil and Japan are “likely” markets for the ebook company in 2012, among “ten plus countries” Kobo has in their sights for 2012. Indeed ceo Michael Serbinis said late last year when the Rakuten purchase was announced that, “We expect to be in Japan early into the new year; we expect to be in Brazil next year and this is all possible now. We did a handful of countries this year and we’ll do a couple dozen next year.” But Kobo said last April that they expected […]
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People, Etc.
Betsy Mitchell will work for Open Road as strategic advisor for sci-fi and fantasy, and will “spearhead” their acquisition and publishing of backlist sci-fi and fantasy titles. Mitchell retired from her position as editor-in-chief at Ballantine Bantam Dell’s Del Rey Spectra in December. She started her own editorial services company. At Norton, Alane Mason has been promoted to vp, executive editor. She has been an editor for the company since 1999. Barnaby Dawe, marketing communications director at News International, is moving over to corporate sibling Harper UK, in the new position of chief marketing officer. He will report to Victoria […]
Thalia’s Parent May Sell, Spinoff–Or Just Sit Tight
Parent company of Germany’s largest–but ailing–book chain Thalia continues to be the focus of market gyration. First shares fell sharply on reduced earnings guidance, driven by Thalia’s difficulties competing with ebooks and online bookselling and unquantified “restructuring” costs at the bookseller. But then shares soared on news of a possible buyout. CEO Henning Kreke “told analysts at a meeting on Thursday that Douglas had been approached by investors several times in recent years and that the Kreke family, which has a 12.6 percent stake in Douglas, decided to initiate talks over a buyout because it sees the company’s shares as […]
Bookselling: Thalia Admits Big Drop In Earnings; Random House Extends Free Shipping; Two Fall Regional Shows Merge
Germany’s largest bookstore chain Thalia is facing the same challenges as major booksellers in English-speaking countries, with parent company Dougles reducing their forecast EBITDA for the current fiscal year by a range of 15 to 30 percent, driving shares down sharply. The company warned that they will incur unspecified “expenditures for restructuring at Thalia” and blamed “the structural challenges in the entire books sector” for the earnings reduction. One German analyst told Bloomberg the company needs to make clear the restructuring costs and “and in general has to provide solutions and measures to get rid of the structural problems at […]
Random House Canada Becomes Sole Owner of McClelland & Stewart
Random House Canada has acquired the University of Toronto’s 75 percent share in McClelland & Stewart, making RHC the sole owner of the storied Canadian house. Apparently the University has handed over their interest, telling us in a statement that “the University is not receiving any financial compensation.” They write that “publishing is not a core business of the University of Toronto,” and that “the Canadian government has authorized the sale of McClelland & Stewart to Random House. As a result, UofT is able to divest itself of its shares in the company. The University has used its ownership position […]
Corporate News: Scholastic Buys Learners Publishing; Bertelsmann Sells 50 Percent Stake in Pubbles to Weltbild
Scholastic announced Monday that its Singapore subsidiary acquired Learners Publishing, a Singapore-based publisher of supplemental English-language learning materials which has published more than 400 titles since its founding in 2000. “Through this acquisition, Scholastic’s offering of products in the English Language Learning segment is significantly enhanced,” Scholastic International president, growth markets Shane Armstrong said in the release. “Learners’ talented team and its list of outstanding titles will assist Scholastic in accelerating educational publishing growth in International markets.” Regulators approved Bertelsmann’s deal to sell half of its stake in German e-reading store/platform Pubbles to Weltbild for an undisclosed sum. The deal was […]