Friday, January 20, 2017

Books World alarmed by Pearson's sale of stake in Penguin Random House - The Guardian

Panzer was tootling around in the Catosphere just minding his own cat business when he heard crying and gnashing of teeth coming from up ahead. Following all the noise took our kitty boy to The Guardian site. It didn't take any digging at all to find the news about Pearson's PRH sale is what everyone was so nervous about. Yesterday Panzer told you about Pearson's announcement.

Let's see what happens.
According to the post by Danuta Kean, many authors and agents are unsure about the consequences of Pearson's sale of their partial ownership in publisher Penguin Random House. The post speculates partner Bartelsmann will acquire 22 percent of Pearson's 47 percent and the remainder will be acquired by private equity. Bartelsmann will then be the majority stakeholder with 75 percent. Some authors and agents are worried Bartelsmann may be more interested in profit margins now than previously.

Panzer says, "Inquiring kitties want to know: What private equity will acquire that remaining 25 percent?"

Note: This is a v-e-r-y l-o-n-g post. Bring a thermos of tea and half a dozen muffins for today's reading selection. If you plan to read Panzer's earlier post about the Pearson sale as well, you'll need an extra muffin or two.

To read the post, tootle over to Pearson Penguin Random House sale

To read Panzer's post from yesterday about Pearson's PRH sale, tootle over to Penguin Random House

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