Reed’s rather poorly kept secret of the past couple of months–that they have a buyer for their two library publications–became public this morning, with the announcement that Media Source has acquired Library Journal and School Library Journal. Long known for the Junior Library Guild, Media Source bought The Horn Book, Inc. in early 2009. Media Source ceo Randall Asmo says the magazines “deserve a corporate home focused on libraries.” Editor-in-chief Brian Kenney and publisher Ron Shank will remain in their roles with the magazines–which means that they will relinquish their additional responsibilities for Publishers Weekly, which is not included in […]
Random House Is Developing Video Games
The Random House Publishing Group has set up a unit to develop video games, first reported in WSJ and then confirmed in a press release, run by director of creative development Keith Clayton and director of business development Mikita Labanok, who report to Del Rey/Spectra publisher Scott Shannon. The announcement says the unit will create “original transmedia intellectual property–story content that can be accessed through multiple media sources including video games, social networks on the web, mobile platforms, in print and on film–that will be developed and marketed in partnerships with other media companies.The group will also offer editorial services […]
Weak Pound Boosts Penguin Sales, As Margin Declines
Nothing helps the performance of Penguin and its parent company Pearson like a weak British pound, particularly since they get 60 percent of their sales from the US. For fiscal 2009 that benefit is stark, particularly for Penguin, where currency exchange made up for flat sales and declining margins. Sales at Penguin were 1.002 billion pounds, an 11 percent increase over last year’s 903 million pounds, though the gains and then some were entirely due to currency. The company admits that foreign exchange contributed 109 million pounds; on a constant-exchange-rate basis sales fell 1 percent, and “underlying” sales were down […]
Announcements
David Patterson has left Holt, where he was an editor, and starts today at Foundry Literary + Media as an agent. Irish bookselling chain Hughes & Hughes declared bankruptcy. Ulster Bank appointed David Carson of Deloitte as receiver. The company blamed a variety of factors, from reduced air traffic which suppressed business at its successful airport bookstores to higher rents and the internet.Irish Times Gordon Wood won the American History Book Prize for Empire of Liberty: A History of the Early Republic, 1789-1815, which includes the title of American Historian Laureate. Mexican author and guerrilla movement scholar Carlos Montemayor, 62, […]
Lunch Weekly for Monday, March 1
Deal Reports Just e-mail to deals@PublishersMarketplace if you aren’t using the online form linked below. Report a deal using the online form The Key As usual, the handy key to our Lunch deal categories. While all reports are always welcome, those that include a category will generally receive a higher listing when it comes time to put them all together. “nice deal” $1 – $49,000 “very nice deal” $50,000 – $99,000 “good deal” $100,000 – $250,000 “significant deal” $251,000 – $499,000 “major deal” $500,000 and up FICTION Debut Four-time winner of Mexican National Theatre Prize for playwriting, and also […]
Burkle Continues Agitating Against Barnes & Noble Board
It was fairly obvious that the Barnes & Noble board of directors would decline investor Ron Burkle’s request that they grant him an exception from the poison pill provision that they adopted specifically to block Burkle and his friends from threatening the Riggios’ de facto control over the company. But in a new letter to the board, Burkle expresses surprise that the company’s independent directors did not contact him before dismissing his concerns, and he asks for a meeting: “I would have hoped that the non-management members of the Board would have contacted me before unilaterally rejecting my request that […]