LibreDigital has closed a $15 million Series B funding round, led by new investor Triangle Peak Partners and existing investor Adams Capital Management. (Existing investors include HarperCollins and the New York Times Comany.) They say the new capital will be used by “to expand marketing and development of the company’s digital platform, designed to help publishers go direct to consumers as they access, buy, read and share content across online and mobile platforms.” Rachel Dicker has joined Baker & Taylor as director, publisher digital services, reporting to Linda Gagnon, svp, publisher digital services and business development. She was formerly Director […]
International News
As Tipped, Valco Buys Borders UK
As first indicated by the Independent earlier this week, claims that Borders UK wasn’t for sale were blatantly false, and restructuring company Hilco’s private equity arm Valco Capital Partners is indeed buying the chain from Luke Johnson, the Bookseller reports. Current chief executive Philip Downer will continue to lead the company after a management buyout in tandem with finance director Mark Little. No figures are included in the report, though it was thought that the ailing group would be unloaded for a nominal sum. Downer told the Bookseller in a follow-up story that among their immediate plans are a working […]
Amazon Offers Free Replacement for Cracked Kindles; Closing In on UK-indle?
Amazon spokesman Andrew Herdener tells us, while the company will not comment on active litigation, “we encourage anyone who has an issue with the cover attachment mechanism to return the cover and device for a free replacement so we can investigate further.” Separately, yesterday UK trade publication Mobile Today claimed Amazon is in “advanced negotiations with a mobile operator” in the UK, aiming for a pre-Christmas launch of Kindle in that market. MT says the UK version will be made and handled by Qualcomm, and will add wifi connectivity along with the cellular connection. But “the online retailer is known […]
Bookselling: Borders UK May Have A Buyer; Taiwan Companies Pair for eBook Launch; Bookseller Advises Authors On Signings
While still denying that Borders UK is even up for sale and insisting that Clearwater Corporate Finance has been hired only to help “seek out funding opportunities,” it looks like the ailing chain may have a buyer, or at least a company ready to take it off their hands. The Independent reports that the private equity arm of restructuring company Hilco, Valco Capital Partners, “plans to acquire the entire shareholding of Borders UK and take the company forward.” Reportedly they are “offering to take on the Borders superstores, Books Etc and Borders Express shops in a deal that could save […]
As Predicted, Commission Wants to End Books Protectionism In Australia After Three Years
Per our story yesterday, Australia’s Productivity Commission has indeed concluded that “restrictions on the parallel importation of books result in higher local book prices” and recommended an outright repeal, “with the industry having a period of three years to adjust before the changes take effect.” They do concede that enaction is likely to “cause some contraction or slowing in the growth in the book production industries.” If enacted, the $2 billion Australian trade market would become a significant growth market for exports from UK and US publishers. In balancing the decision, the commission suggests “that the current range of grants […]
Bookselling: Still Hoping to Finance Return of San Jose Store; UK Agents to Become Booksellers
San Jose’s independent store Willow Glen Books closed in May “because of decreasing sales and [owner Cathy Adkins] having to grapple with health issues,” but Roland Vierra is still working on a second attempt to get financing and start the store up again, in arrangement with owner Cathy Adkins. “Vierra said the owner of the building is willing to be patient while he works to get adequate financial backing to reopen the bookstore.”Business Journal In the UK, agents Sarah Lutyens and Felicity Rubinstein are opening a bookstore in London’s Notting Hill in October. They are recruiting a store manager now. […]