Bloomsbury’s latest strategic acquisition is professional and academic publisher Tottel, based in the UK and Ireland, to be bought for 9.96 million pounds. They will rename the unit Bloomsbury Professional. In the fiscal year ending in February, Tottel had sales of 6.25 million pounds, operating profit of 0.93 million pounds, and EBITDA of 1.19 million pounds. The company says: “Bloomsbury has identified academic and professional publishing as a growing niche sector. The proposed acquisition of Tottel fulfils a strategic objective of Bloomsbury in pursuing opportunities in this market and follows from the acquisitions of Methuen, Berg Publishers, and The Arden […]
International News
The Other Side of the Larsson Dispute–And No Fourth Book
While there are number of issues of contention between the late Stieg Larsson’s heirs (his father Erland and his brother Joakim) and his partner of thirty years Eva Gabrielsson, one matter has unfortunately been resolved. Joakim Larsson tells us “we have an agreement not to publish” the 200 pages of unfinished manuscript for a fourth book in The Girl… series. Eva Gedin, fiction publisher at Norstedts–which bought world rights to the first three books directly from the author–confirms her understanding that the Larssons and Gabrielsson “mutually decided that a fourth novel will not be published.” Joakim Larsson notes that he […]
Waterstone's Makes Year's Drop in Sales and Profits Sound Strong
Waterstone’s parent has updated the sparse sales statistics provided in late April with their “preliminary results” for the fiscal year. The basic numbers are the same (comp sales still fell 3.8 percent), though they add actual sales for the year–548.3 million pounds–and profits, at 10 million pounds down 38.5 percent from the previous year. The decline in earnings is attributed to “the sales decline, a 10 basis points reduction in gross margin due to the higher mix of online sales, and £2.0m of book hub start-up costs, partially offset by cost control measures, including bonus savings.” They also too “exceptional […]
Random UK Children's Creates Joint Venture to Develop Film/TV Properties
Random House UK’s Children’s Book division has created a new joint-venture in partnership with Komixx Entertainment to produce animated and live-action children’s and family films and TV programs. Called Random House Children’s Screen Entertainment, they will develop the publisher’s books and characters, and plan to include both film and TV partners as well as video game producers, toy manufacturers and other merchandisers. Fiona Macmillan will lead the venture for Random House, and advisor and minority shareholder Catherine Robins is joining the management of the new entity. Random UK Children’s managing director Philippa Dickinson says “it marks a huge step forward […]
Bloomsbury Calls Allegations "Unfounded, Unsubstantiated and Untrue"
Bloomsbury responds to the lawsuit filed by the estate of Adrian Jacobs saying that “JK Rowling had never heard of Adrian Jacobs nor seen, read or heard of his book Willy the Wizard until this claim was first made in 2004…. Willy the Wizard is a very insubstantial booklet running to 36 pages which had very limited distribution. The central character of Willy the Wizard is not a young wizard and the book does not revolve around a wizard school.” When first asserted in 2004, “the claim was unable to identify any text in the Harry Potter books which was […]
Another High-Profile Resignation at Granta, and More People News
This time it’s at Granta Publications and Portobello Books, where David Graham has resigned as managing director. Announced in a two-line statement, the company says “queries previously directed to David Graham should be directed to Granta publisher Sigrid Rausing.” Graham came over from Canongate in 2006. Also in the UK, Hannah Black is leaving Century to join Harper UK in August as a publisher at Harper Nonfiction, reporting to Carole Tonkinson, the Bookseller reports. At Sourcebooks, Rebecca Frazer has joined the company’s New York office an acquisitions editor for Jabberwocky. She has acquired and edited children’s books for HarperCollins, Simon […]