In the first acquisition of the year, Hachette Livre has announced the purchase of a controlling interest in Nina Salter’s Editions des Deux Terres, founded in 2002. The line publishes a dozen books a year, focused on literature translated into French (by the likes of Kiran Desai, Julia Glass and Kazuo Ishiguro) and bestselling thrillers from Patricia Cornwell, Jeffery Deaver, Ruth Rendell and others. Hachette call is “an opportunity to strengthen its position in the crucial segment of quality fiction and thrillers.”
Jones Replaced at Borders
Would-be retail turnaround specialist George Jones is being replaced immediately as ceo of Borders Group after two-and-a-half difficult years of failing to bring to the retailer to profitability. Taking over is Ron Marshall, most recently principal of Wildridge Capital Management, a private equity company he founded. Previously, Marshall was ceo for eight years of food distributor Nash Finch Company and prior to that he was evp and cfo at Pathmark. Earlier in his career he worked at Crown Books and BN College. Board chairman Larry Pollock says in the announcement, “it is imperative that the company more aggressively attack these […]
A Bland Review of the Google Settlement
The NYT has a piece that explains how Google has been scanning millions of books “that had been locked away on the dusty shelves of libraries and in antiquarian bookstores.” With a legal settlement awaiting approval by the court, “just what kind of commercial opportunity the settlement represents is unknown, but few expect it to generate significant profits for any individual author. Even Google does not necessarily expect the book program to contribute significantly to its bottom line.” AAP chairman Richard Sarnoff comments, “I think there will be a few authors who do see significant dollars out of this, but […]
Bookseller Glenn Goldman Dies
The founder and owner of the West Hollywood independent bookstore Book Soup Glen Goldman died on Saturday at 58 of pancreatic cancer. Goldman founded the store in 1975. LAT book editor David Ulin posted a personal remembrance on the book section’s blog. Separately, LA Observed reported right before Goldman’s death that “staffers and friends of Sunset Strip fixture Book Soup are contacting potential buyers.” They add that, “judging by emails circulating in L.A. book circles, the search has become urgent in recent days.” The LAT’s obituary reports that Goldman decided to sell the store on Friday. But Book Soup general […]
Burkle Buys Big Barnes & Noble Stake
Investor Ron Burkle filed papers with the SEC on Friday disclosing that his companies have purchased an 8.3 percent stake in Barnes & Noble since November 24. Purchasing over 4 million shares, he believes “such shares were undervalued by the market at the time they were acquired.” The filing declares the purchase is “for investment purposes, however, the reporting persons intend to closely monitor the company’s performance and may modify their plans in the future.” Burkle’s investment company Yucaipa says on their web site that they “work with management to strategically reposition businesses and implement operational improvements, resulting in value […]
People: Barbara to Foundry, and More
After three years as agent and contracts director of the Donald Maass Literary Agency, Stephen Barbara will join Foundry Literary + Media as a full-time agent on Monday, January 5th. Barbara represents authors for both the children’s and adult markets and is bringing his entire list to Foundry. Also in recent days, in the UK, Harper UK ceo Victoria Barnsley and editor, memoirist and novelist (and Costa award nominee) Diana Athill were both awarded OBE’s on the Queen’s annual honors list, as Terry Pratchett was “flabbergasted” to receive a knighthood. On December 31, prolific mystery writer Donald Westlake, 75, died […]