German Bonnier Group is launching Gutkind Verlag, a new publishing house that will operate independently. The house will publish fiction and nonfiction books, with the first titles planned for 2024. Ulrike von Stenglin will join as founder and manager. She returns to Bonnier after positions at Ullstein and Hanser. CEO of the German Bonnier Group Christian Schumacher-Gebler says in a release, “I am very pleased to welcome Ulrike von Stenglin among Bonnier’s publishers and for her to take on the role of founding Gutkind. Ulrike von Stenglin has repeatedly demonstrated her talent for tackling new publishing projects courageously and shaping […]
International News
WH Smith Owed £1M to Employees
UK books retailer WH Smith failed to pay the minimum wage to employees, the BBC reports. Of the more than 200 companies that the government said underpaid employees, WH Smith owed the most to workers–more than £1 million to more than 17,600 employees. The chain told the BBC that the mistake was due to misunderstanding the UK’s rules about uniforms and not reimbursing staff for required clothes that they purchased out of pocket. “Following a review with HMRC in 2019, and in common with a number of retailers, it was brought to our attention that we had misinterpreted how the […]
Vivendi Signs Deal to Sell Editis to IMI
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 […]
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: […]