Penguin Random House has acquired the 20|20 Editora group in Portugal and will bring together all of its imprints there in a new entity, Penguin Random House Grupo Editorial Portugal. 20|20 founder Manuel de Freitas holds a 15 stake in the new company and serves as general director, reporting to Patxi Beascoa, with editorial continuing to be run by Clara Capitão. PRH ceo Markus Dohle says in the statement, “It is a privilege to expand the scope and strength of our editorial programs in Portugal, bringing together the catalogs of Penguin Random House Grupo Editorial and 20|20 Editora. Together, we […]
International News
Harper UK Settles One Suit Over “Putin’s People”
While a London High Court is still hearing testimony on Roman Abramovich’s lawsuit alleging defamation in Catherine Belton’s book from Harper UK, PUTIN’S PEOPLE: How the KGB Took Back Russia and then Took on the West, another suit involving the same book has been settled. In the case brought by Russian businessman Mikhail Fridman and Russian banker Petr Aven, Harper UK has “agreed to remove effectively all the material on which the actions are based from future editions of the book,” according to attorney Hugh Tomlinson (who represents the two men, along with Abramovich). A settlement document reportedly indicates, according […]
Lagardere Under Investigation for Alleged Abuses In Fighting Dissident Shareholder
On Friday, French newspaper Le Monde reported that France’s National Financial Prosecutor’s Office opened an investigation in April into alleged illegal practices by Lagardere, saying that an investigating judge has been appointed subsequently. Following up on allegations by dissident investor Amber Capital in February, the investigation is said to focus on “misuse of corporate assets, purchase of votes, inaccurate accounts and dissemination of false or misleading information” related to the battle for control of Lagardere. Subsequent to the initiation of the investigation, in late April, Arnaud Lagardere and the principal shareholders in the company reached an agreement to restructure the […]
Partnerships: Welbeck Expands into Australia with Booktopia
Welbeck Publishing Group has created a standalone subsidiary to publish titles directly into the Australia/New Zealand market, in partnership with online retailer Booktopia, which has a 25 percent stake in the new Sydney-based business in exchange for a $3 million (AU) investment. Booktopia will distribute Welbeck’s 4,500 title backlist in ANZ and will form an ANZ publishing program that aims to publish 50 titles per year in fiction, narrative nonfiction, children’s, and illustrated/gift books. Welbeck’s Mark Smith will relocate to Australia for a few months in early 2022 to help set up the business and recruit staff. Marcus Leaver will […]
Rights: More Archer for Harper
Harper Collins expanded their publish agreement with Jeffrey Archer to include rights in additional territories. The William Warwick series will now be published by Harper France, Harper Holland, Harper Ibérica, and Harper Japan. (The company already held Italian and World English rights.) Harper Collins international ceo Chantal Restivo-Alessi negotiated the deals with James Archer and Alan Mitchell from Mitchell Rights Management.
Sales Remain Down at WH Smith
UK retailed WH Smith issued a brief trading update, covering the awkward period of the 18 weeks ending July 1 (e.g. roughly a third of the year). High street bookstore sales were down 14 percent compared to the norm in fiscal 2019 — or, as they like to put it, 86 percent of the previous level. Second quarter sales were down 16 percent, and first quarter sales were down 12 percent on the same comparison basis. “This performance reflects high street footfall which remains below pre-pandemic levels.” Their travel stores are recovering a little, though still suffering badly, at 48 […]