Sales were flat Oxford University Press for the fiscal year ending March 31, 2014, at £759 million, and profit before tax from continuing operations declined £9 million, to £107 million. The press was able to transfer £50 million to the university. Digital sales comprised 19 percent of total revenues and grew by 7.5 percent during the year. A press release says that sales actually grew on a constant currency basis, by 7 percent (or by 3.6 percent on a continuing operations basis, before accounting for acquisitions — notably, the integration of educational publisher Nelson Thornes). OUP says it “invested in […]
International News
Penguin Random House Completes the Santillana Spanish-Language Acquisition
Penguin Random House announced Tuesday it has completed the acquisition of the Santillana’s trade book business Santillana Ediciones Generales from PRISA for 72 million euros. (Note: This was the price in Prisa’s press release; Bertelsmann’s annual report for 2014 later stated, “The consideration transferred amounted to €53 million and was fully paid in cash”; it’s possible that Prisa’s figure included the Brazilian unit, while Bertelsmann’s statement applied only to “activities in Spain, Portugal and Latin America.”) One component of the deal — the acquisition of Objetiva, Santillana’s Brazilian trade business, is still pending, and “expected to be completed later in […]
Amazon Replies to German Trade Association Complaint
Following the filing of 22-page complaint against Amazon by Germany’s trade association representing publishers and booksellers (the Boersenverein), Amazon has issued a statement that replies to at least a portion of that complaint. The company states: “We are aware of the complaint by the Boersenverein that alleges that we are delaying shipments to customers – this allegation is not true. We are currently buying less print inventory than we ordinarily do on some titles from the publisher Bonnier. We are shipping orders immediately if we have inventory on hand. For titles with no stock on hand, customers can still place […]
German Trade Association Asks for Investigation Into Amazon
In Europe, the Germany Publishers and Booksellers Association (the Borsenverein) announced today that it filed a 22-page complaint last week against Amazon with the Federal Cartel Office, asking for an investigation into the etailers’ negotiations with book publishers and accusing the company of violating antitrust laws. They are protesting Amazon’s intentional “business interruption” with the books published by Bonnier in Germany, similar to what Hachette has been experiencing in the US. To be clear, the association is relying on media reports indicating Amazon is looking to increase their share of ebook proceeds to 40 percent or 50 percent. Borsenverien chief executive […]
People
Deputy publisher of Little, Brown Heather Fain has been appointed to the additional new position of svp, director of marketing strategy, a central marketing function within HBG. She will report to ceo Michael Pietsch for the new role, and he said of the appointment, “The publisher’s role as marketer has never been more important. In Heather’s 13 years at Little, Brown she has demonstrated constant innovation in marketing and superb partnership with editors, publicists, agents, and authors….. This new approach will allow us to raise our marketing to even greater heights.” The NYT speaks with literary agent Carmen Balcells and comes away with […]
Corporate: New Sales Structure at Hachette UK; Berteslmann to Exit German Book Club Business
Hachette UK has reorganized its sales force into two groups due to “substantial changes to our markets.” The first group comprises Little Brown UK and Orion; the second comprises Hodder & Stoughton, Headline, Hachette Children’s Books and Quercus. As a result of the changes, sales director at Orion Dallas Manderson is leaving “to pursue other interests” while executive director sales and marketing at Quercus Jane Harris is also exiting in July. Hachette said the restructure means a “small number of roles in sales are now at risk of redundancy.” The Little Brown UK and Orion team will be overseen by Rob Manser, currently […]