Following a judicial appeal, there was a “partial lifting of the management activities ban imposed on” Arnaud Lagardère, as he faces criminal charges of “vote buying, abuse of power and breach of trust, disseminating false or misleading information and failure to publish accounts.” As a result, he has resumed his position as chair and ceo of Lagardere SA.
International News
Booktopia Suspends Trading of Its Shares
Struggling Australian online bookseller Booktopia looks to have reached a troubling new stage. Late last week they suspended trading of the company’s stock — which is worth only five cents a share — pending an announcement. But the follow-up announcement earlier this week simply said that trading in their shares would remain suspended, “pending the release of an announcement regarding further outcomes from the previously announced strategic review including its progress in seeking additional funding.” Co-founder, board member and once-again executive Tony Nash told The Guardian Australia, “We’re in motion at the moment, so [an announcement] will be probably more […]
Nourry Announces New Publisher, Pairs with Simon & Schuster In First-Look Agreement
Following preliminary reports in April, former Hachette Livre CEO Arnaud Nourry officially announced his new publishing venture, Les Nouveaux Editeurs. The company says it has a broad partnership with Simon & Schuster that includes a “first-look agreement for future editorial acquisitions, joining forces in some auctions and bidding together for series, licenses and other multi-book acquisitions.” S&S explains in a separate announcement, “Under the agreement, which includes adult, childrens, and illustrated/graphic titles, each company will have the first opportunity to acquire projects for its market which satisfy certain parameters and for which the other company has acquired world rights. The […]
On the Growing Sales of English Editions In Europe
European publishers have been sounding the alarm about increasing sales of English-language import editions of books by popular authors for some time now — particularly in Holland and across Scandinavia, where publishers have been lobbying to acquire rights to produce English editions of their own alongside their translations to blunt the effect. Now the NYT explains the popularity of those English-language editions to readers, focusing on the effect of social media: “Booksellers in the Netherlands said that many young people prefer to buy books in English with their original covers, even if Dutch is their first language, because those are […]
Booktopia CEO, 50 Staffers Depart in Restructuring
In response to declining sales, Australian retailer Booktopia has withdrawn its guidance and announced staff departures, including the resignation of CEO David Nenke. Nenke has been at Booktopia since last year, after leaving Barnes & Noble Education. During his six-month notice period, operational duties will be assumed by chair Peter George, who will become executive chairman. Former ceo Tony Nash, who also sits on the board, will become an executive director and sales director for the next six months. During this time, directors’ compensation will be paid in company shares. The company will eliminate at least 50 positions from its […]
S&S to Acquire Holland’s VBK, Furthering International Growth Strategy
Simon & Schuster has agreed to acquire VBK (Veen Bosch & Keuning), the largest publisher in the Netherlands, in an all-cash transaction. The deal is subject to regulatory approval in the Netherlands. This will be the first time S&S has owned a non-English language publisher, fulfilling its “long-cherished international ambitions.” In a memo to staff, S&S CEO Jonathan Karp wrote, “In the months since we became a standalone, independent publishing company, I have repeatedly stated that international publishing will be one of the key areas of growth for Simon & Schuster…. In joining with VBK, we believe that together we […]