Vivendi shareholders approved the company’s plan to break up the conglomerate into multiple parts, with new stock listings later this month for the Canal+ broadcasting assets, the advertising agency Havas, and a newly-named Louis Hachette Group. That Louis Hachette Group will comprise Vivendi’s controlling 66.5 percent stake in Lagardere (which includes both Lagardere Publishing as well as the big travel retail division), alongside Prisma Media, France’s leading magazine publisher. The Bolloré Group, which currently controls Vivendi, will own roughly 31 percent of the Louis Hachette Group, which will begin trading on the Euronext Growth (Paris) stock exchange on December 16, […]
International News
Bloom Books Expands to Brazil and Germany
Sourcebooks’ fast-growing Bloom Books imprint — which had close to $100 million in gross sales in 2023 — is expanding with two international imprints alongside partner companies at Penguin Random House. In August, the company launched Bloom Germany with the publication of a German-language edition of Sophie Lark’s Kingmakers: Year One, working with Penguin Random House Germany. They expect to publish 14 titles next year. SVP audio, strategic & digital development at Penguin Random House Germany Matthias Aichele says in the announcement, “The positive feedback from our partnership has been overwhelming, and we are thrilled to unveil a lineup of […]
Small Investor Tries to Block Vivendi’s Plan to Split Itself Up
Ahead of a planned December 9 shareholders’ meeting, Vivendi announced that CIAM, an investor holding a very small position (a 0.025 percent stake), has filed suit to try to block their plan to divide the conglomerate into four separate companies. A hearing is scheduled before the Paris Commercial Court on December 4, for arguments on both an expedited suit looking to block the spin-off project, as well as an appeal of a November ruling from France’s market authority (AMF) finding that the spin-off plan does not trigger a mandatory buyout offer. As a result, the December 9 meeting and vote […]
Harper Germany Acquires Gräfe und Unzer
Harper Collins Germany will acquire guidebook publisher Gräfe und Unzer from Ganske, subject to regulatory approval. GU, which has operated for more than 300 years, will continue to be based in Munich under the Harper Collins umbrella, which will also take on the company’s distribution business, ISP Isar Sales Partner. According to a release, the acquisition more than doubles Harper’s German business, and expands its portfolio to include cookbooks, self-help, health, gardening, travel, and more. “Germany is one of our strongest markets in the international portfolio and one where we see tremendous growth opportunities. This acquisition will allow us to […]
EU Closes Investigation Into Apple’s Digital Book Sales
The European Union has closed its antitrust investigation into Apple’s “anticompetitive behavior” blocking competing ebook and audiobook apps from selling directly within the app without paying Apple’s 30 percent tax. The complaint focused on Apple imposing “the mandatory use of its own proprietary in-app purchase system” and the company’s restrictions on allowing other apps to “inform iPhone and iPad users of alternative cheaper purchasing possibilities available outside the App Store.” The matter was closed because the unnamed complainant, a distributor of e-books and audiobooks, withdrew the complaint that it launched in 2020. “The closure of an investigation is not a […]
DK Acquires Canelo
DK has acquired UK-based digital publisher Canelo, founded by Iain Millar, Michael Bhaskar and Nick Barreto in 2015. The company says the acquisition is part of a plan “to broaden its publishing scope, adding Canelo’s thriving fiction lines to its world-renowned illustrated, non-fiction and children’s fiction titles.” DK ceo Paul Kelly said, “This partnership is a strategic evolution for DK, integrating Canelo’s renowned author-first approach and proven genre expertise with our global platform. Together, we’ll engage new readers and support talented authors by creating compelling, accessible fiction and non-fiction with a reach that spans DK’s global distribution networks. We see […]