On Friday, following clearance from the EU for Vivendi’s acquisition of Lagardere, the company announced they had executed the planned agreement to sell the publisher Editis to International Media Invest (IMI). That spinoff will require its own approval from the European Commission, though Vivendi says, “Completion is expected by early October 2023 at the latest.” IMI is owned by Czech billionaire Daniel Kretinsky. He also owns a 25 percent share in French-based retailer of books and other media, FNAC, and has reportedly expressed interest in buying a controlling share in the company. Vivendi needs to complete the sale of Editis […]
International News
UK Gets New Coffee-Sponsored Book Awards
Following the demise of the Costa Book Awards in 2022, UK chain Caffe Nero is launching the Nero Book Awards, in four categories: debut fiction, fiction, nonfiction, and children’s fiction. The first shortlist will be announced in November, and the winners will be named in January 2024, honoring writing from the UK and Ireland. Former director of the Costa Awards Amanda Johnson will run the new program, which is being administered by the Booksellers Association, working in partnership with Brunel University London and Right To Dream.
People: Andrew Franklin to Step Back at Profile
In the UK, Profile Books founder and managing director Andrew Franklin will step back from running the company as of July 1, when current nonfiction publisher Rebecca Gray will take over as managing director. Franklin will “return to his first love – acquiring, editing and publishing books.” As part of the “wider plan to ensure the company’s future as a thriving independent,” sales director Claire Beaumont will become commercial director, leading the marketing and publicity teams as well. They join finance director Frances Ford and pre-press and production director Jack Murphy on the executive team, with Franklin remaining on that […]
WH Smith Celebrates Only Small Declines at Their Bookstores
With WH Smith’s High Street bookstores in a long, steady decline, the parent company’s earnings report for the first six months shows only light falloff from last year’s comps. Sales of £266 million were down just £4 million from the same period a year ago, with trading profit of £24 million down £2 million. The company noted a “good performance in books, supported by Prince Harry’s autobiography Spare” and “a good performance from Mother’s Day across our stores and digital channels.” There is no expectation of growth; the company has consistently focused on wringing cash out of the bookstore business: […]
French Publishing Professional Freed After London Arrest
Foreign rights manager at Éditions La Fabrique Ernest Moret, who was arrested ahead of the London Book Fair for his role in protesting the raised pension age in France, was released after about 24 hours of detainment. Verso editor Sebastian Budgen told PL that Moret’s phone and work computer remain confiscated, with no guarantee when he will get them back, and that he must return to London in mid-May at the request of England’s anti-terrorism unit. Budgen said Moret’s lawyer expects that date to be pushed back and potentially “abandoned, as there’s no real case.” (Moret was released on “police […]
French Rights Manager Arrested Before LBF
Foreign rights manager for the French publisher Editions La Fabrique Ernest Moret, 29, was arrested on Monday at St Pancras Station in London on his way to the London Book Fair. When Moret arrived at the train station from Paris, two plainclothes London police officers stopped him on suspicion of terrorism, related to his participation in protests in Paris over Emmanuel Macron’s change to the pension age. The officers confiscated Moret’s phone and computer and he was arrested when he refused to give them the passcodes, the Guardian reports. Moret remains in custody. In a joint press release, Editions La Fabrique […]