Antitrust trial puts book publishing industry in the dock

Antitrust trial puts book publishing industry in the dock

NEW YORK (AP) — The Justice Department’s effort to block the merger of Penguin Random House and Simon & Schuster isn’t just a showcase for the Biden administration’s tougher approach to corporate consolidationit’s a rare moment for the publishing industry itself to be placed in the dock. Through the first week of an expected two- … Read more

Mass Market Paperback Sales Whiter

Mass Market Paperback Sales Whiter

No matter which way you look at it, sales of mass market paperbacks have been in steady decline since 2017. NPD BookScan data shows that unit sales fell 31.5% in 2021 compared to 2017, while the Association of American Publishers put the decline in dollar sales at a more disturbing 42.7% in 2020. Both data … Read more

DK Acquires Phonic Books

DK Acquires Phonic Books

DK has acquired Phonic Books, one of the UK’s leading specialist education publishers. Founded in 2006 by Wendy Tweedie, Tami Reis-Frankfort and Clair Wilson, three special needs teachers, the publisher now has some 300 decodable books for beginner and catch-up readers. The books are available in more than 40 countries, and growth has been especially … Read more

Stephen King set to testify for govt in books merger trial

Stephen King set to testify for govt in books merger trial

WASHINGTON — As the Justice Department bids to convince a federal judge that the proposed merger of Penguin Random House and Simon & Schuster would damage the careers of some of the most popular authors, it is leaning in part on the testimony of a writer who has thrived like few others: Stephen King. The … Read more

EXPLAINER: Bid to block book merger sets competition fight

EXPLAINER: Bid to block book merger sets competition fight

WASHINGTON — At a time of mega-mergers and flashy high-tech corporate hookups, the biggest US book publisher’s plan to buy the fourth-largest for a mere $2.2 billion may seem somewhat quaint. But the deal represents such a key test for the Biden administration’s antitrust policy that the Justice Department is calling an out-of-the-ordinary witness to … Read more

Vivendi Shares Slip as It Considers Book Publisher Divestment as Part of Lagardere Takeover

Vivendi Shares Slip as It Considers Book Publisher Divestment as Part of Lagardere Takeover

By Mauro Orru Shares of Vivendi SE fell Friday after the media conglomerate steered by the family of French billionaire Vincent Bollore said it was considering the disposal of its book publishing business Editis to avert potential competition concerns as part of its bid to take over smaller French rival Lagardere SA, the owner of … Read more

Higher Costs Drop Profits at Hachette

Higher Costs Drop Profits at Hachette

Revenue for Lagardère Publishing rose 7.7% in the first half of 2022 over 2021, to €1.22 billion. Earnings, however, fell 29%, to €81 million, which the company attributed to “inflationary pressures on production, transport, and labor costs.” The sales increase reflected a €59 million gain from the September 2021 acquisition of Workman Publishing and purchase … Read more

Michelle Obama’s New Book ‘The Light We Carry’ Coming Out This Fall

Michelle Obama’s New Book ‘The Light We Carry’ Coming Out This Fall

By Jeffrey A. Trachtenberg July 21, 2022 11:52 am ET former first lady Michelle Obama has written a new book that will come out on Nov. 15, publisher Penguin Random House said, four years after the release of her bestselling memoir. Mrs. Obama’s coming work, titled “The Light We Carry: Overcoming in Uncertain Times” is … Read more

Hong Kong book fair kicks off with fewer political books

Hong Kong book fair kicks off with fewer political books

HONGKONG– Hong Kong’s annual book fair kicked off Wednesday, with several publishers of political books prevented from taking part in the fair and others saying they had to be cautious about what they exhibited. The fair’s main organizer, the Hong Kong Trade Development Council, said it did not screen the books for sale at the … Read more

Bloomsbury Publishing Four-Month Revenue Rose 27% After Record 1H UK Book Sales

Vivendi Shares Slip as It Considers Book Publisher Divestment as Part of Lagardere Takeover

By Kyle Morris Bloomsbury Publishing PLC said Wednesday that revenue for the four months ended June 30 grew 27% after the first half of 2022 had record UK consumer book sales. The company said revenue for the period was 80.3 million pounds ($96.3 million) compared with GBP63.1 million a year earlier. Trading for the four … Read more