Simon & Schuster, the 96-year-old, $800m-revenue US book publisher – whose authors have included Stephen King, Tom Wolfe, Hemingway, Scott Fitzgerald, Joseph Heller and Donald Trump – has been put up for sale. Its newly-merged owner ViacomCBS is planning to concentrate on streaming and sports content. Owning a major book publisher does not fit.
Can UK’s Reach find the runway?
These past 12 months have brought some good news from newspapers in the US and UK. The New York Times and The Guardian, in their different ways, are carving out a future largely funded by an increasingly international readership. The Washington Post and The Times of London are also looking stronger than ever, helping also…
Mag ‘mergers’: decisions soon
Approval of Future Plc’s acquisition of TI Media by the UK Competitions & Markets Authority (CMA) is expected next week. A decision not to refer the deal for lengthy investigation is believed to be subject only to a requirement for Future to dispose of some brands from within the cycling, shooting, photography and homecare sectors…
Reed buys US transport events
Reed Exhibitions has acquired from the Intelligent Transportation Society of America (ITS) its World Congress and Annual Meetings. Launched in 1993, the ITS World Congress brings together policymakers, entrepreneurs, researchers, academics, and investors from the global “intelligent transportation and mobility” communities. Reed’s first joint event will be the 2020 ITS World Congress at the Los…
Ebay classifieds up for sale
Ebay Inc is said to be pressing ahead urgently with plans to sell its $10bn classified ads business. It is believed that private equity firms including TPG, Blackstone and Hellman & Friedman are interested in the deal, as are trade buyers. Prominent among these is the South Africa-based Naspers whose classifieds operations include: OLX, letgo,…
Infopro turns up the heat on B2B
Haynes Publishing, the 60-year-old listed UK company best known for producing car maintenance manuals, is being acquired by the France-based B2B group Infopro Digital. The UK publisher had been put up for sale in 2019 after the death of its founder. The £114.5m price (9 x 2018 EBITDA) was a juicy 62% premium to last…
Spotify (and Murdoch) prepare for radio wars
Music streamer Spotify is buying podcaster The Ringer from its sports writer founder Bill Simmons, for $196m in cash and an earnout. Bloomberg speculated that the maximum payment may reach $250m. The Ringer produces over 30 podcasts, particularly around sports and culture. Its output includes The Bill Simmons Sports Podcast, The Rewatchables and after-show podcasts…
RSA Conference for sale?
The world’s cyber security industry crowds into San Francisco’s Moscone Center next week for its annual convention. There’s plenty to talk about, of course. But this year, mingling with the experts will be rival exhibitions executives assessing what the RSA Conference (RSAC) will be worth when/if it comes up for sale. The conference is considered…
KHL invests in recruitment
KHL Media, the privately-owned UK construction media specialist, has acquired 40% of recruitment consultant Blu Coal. The recruiter, which will be renamed Lawsons Recruitment (after founder and majority shareholder Nick Lawson), specialises in contract, permanent and executive jobs in the international construction market. KHL, which was established in 1989, claims to be a world leader…
Hachette buys Disney books
Hachette Book Group (HBG) has acquired over 1,000 children’s titles from the Disney Book Group, in the US, in a move which more than doubles its backlist. They will be published under HBG’s Little, Brown Books for Young Readers (LBYR) imprint. HBG has already been handling sales and distribution for the titles for some years….
