KKR Completes OverDrive Purchase - Publishers Weekly

Today, Panzer decided it was time to make a stop at the Publishers Weekly site. With a little digging in the posts our illustrious kitty boy found one about the sale of Overdrive. Panzer told you about the pending sale in December of last year.

What will it mean for libraries and schools?

According to Jim Milliot's post, equity firm KKR's purchase of Overdrive has now completed. The proposed purchase was announced on Christmas Eve 2019. Many were surprised by the sale since owner Rakuten had only owned the company since 2015.  OverDrive provides libraries and schools with ebooks and audio books.

Panzer says, "Inquiring kitties want to know why KKR bought Overdrive."

Note: This is a short post. Bring a cup of tea for today's reading selection.

To read the post tootle over to Overdrive
 To read Panzer's previous post about the purchase tootle over to KKR and Overdrive

OverDrive's New Owners: What It Means - American Libraries Magazine

Panzer was cleaning the floor of the Panzermobile, when he found a post crumpled up under the carpet under the passenger seat. Smoothing out the post, our fastidious kitty found it was from the American Libraries Magazine site. Reading the post, he discovered it was about the sale of OverDrive. Pa whennzer told you about OverDrive's acquisition when it was first announced.

What do you think will happen?

According to Marshall Breeding, on Christmas Eve OverDrive announced the company was being acquired by investment firm KKR.  OverDrive provides ebooks to libraries. The acquisition will occur in the first quarter of 2020. Japanese firm Rakuten has owned OverDrive since 2015. The post contains different possible scenarios the acquisition would make possible in the ebooks and digital content to libraries market. An example would be the merger of KKR's RBmedia with OverDrive. RBmedia supplies audiobooks to libraries which would augment OverDrive's ebooks to library supply chain.

Panzer says, "It will be interesting to see what happens."

Note: This is a humongous post. Bring a quart of tea and six muffins for today's reading selection. If you plan read Panzer's previous post, bring another cup of tea and a muffin.

To read the post tootle over to Overdrive
To read Panzer's previous post about the OverDrive sale, tootle over to OverDrive sale

Equity Firm Agrees to Buy OverDrive - Publishers Weekly

That turkey sure was good.

After yesterday's big dinner Panzer was planning to spend today resting, but he was shaken awake by shouting coming from the Catosphere. Hopping in the Panzermobile, our brave kitty followed all the noise to the Publishers Weekly site. With no digging at all he found the post causing all the hullabaloo was about OverDrive's sale.

According to the post by Jim Milliot, it was announced on Christmas eve that OverDrive had been sold to equity firm KKR. OverDrive provides libraries with ebooks and audio books. This is the second sale of OverDrive in four years. Rakuten USA bought the company in 2015.

Panzer says, "Hmm ... Christmas Eve? Inquiring kitties want to know if they thought nobody would notice."

Note: This is a medium length post. Bring a cup of tea and a muffin for today's reading selection.

To read the post tootle over to OverDrive sold

Elliott Completes Purchase of B&N - Publishers Weekly

We knew it was coming.

Today, as Panzer was tootling around in the Catosphere he decided to make a short trip to the Publishers Weekly site. With no digging in the posts at all our adventuresome kitty found one about Barnes and Noble.

According to the post by Publishers Weekly's Jim Milliot, the Barnes and Noble sale to Elliott Advisors is now final. In a $683 million deal Elliott Advisors is now the sole owner of Barnes and Noble. Elliott paid $6.50 per share to stock holders to procure ownership. The bookstore chain is now a privately held/owned company.

Elliott Advisors does admit they plan to sell Barnes and Noble after making some changes and updates to the bookstores.

There are several links to previous posts about the sale and interviews included in the post.

Panzer says, "This little kitty wants to know what's going to happen to Barnes and Noble's Nook and the ebook publishing and sales online sites."

Note: This is a long-medium length post. Bring a cup of lemonade and a big bowl of ice cream for today's reading selection. If you plan to follow all the links, bring a thermos of lemonade, an even bigger bowl of ice cream and a muffin.

To read the post tootle over to Elliott Advisors

B&N Sale Moves Closer to Completion - Publishers Weekly

The sale will work out fine.

Today as Panzer was traveling around the Catosphere he heard clapping and cheering coming from outside the Panzermobile. Following all the jocularity took our happy kitty pilot to the Publishers Weekly site. With a little digging in the posts, he found one about the Barnes and Noble company sale.

According to Calvin Reid, the sale of Barnes and Noble to Elliott Capital Advisors is on track to close by August. Elliott is offering $6.50 per share all cash. According to papers filed with the Securities and Exchange Commission, another company had also offered to buy Barnes and Noble, but financing issues prevented the acceptance of the offer. The papers also document founder Leonard Riggio's offer to purchase the company, which he withdrew.

Panzer says, "Let's hope Elliott can turn Barnes and Noble around to profitability."

Note: This is a long-medium length post. Bring a cup of tea and one one and a half muffins for today's reading selection.

To read the post tootle over to Barnes and Noble sale

Equity Firm Agrees to Buy B&N - Publishers Weekly

Panzer decided to make a quick stop at the Publishers Weekly site today. With no digging at all our adventuresome kitty boy found a post about Barnes and Noble.

According to the Publishers Weekly post by Jim Milliot, Barnes and Noble has agreed to an acquisition by the equity firm Elliot Advisors. The purchase will close in the third quarter of this year. James Daunt will then become CEO. The equity firm has also announced that after the acquisition the Barnes and Noble headquarters will stay in New York. Barnes and Noble sales declined recently. The company has tried various efforts to turn sales around ranging from opening new eating venues in the stores to changing CEOs. The company is in the midst of a lawsuit and counter suit with the last CEO, Demos Parneros.

Guess I'll have to find another online store.

Panzer says, "Umm ... This might not be good news for this little kitty. There's no mention of Barnes and Noble's online store or the Nook ereader. Most of my ebook sales are through Barnes and Noble's online store."

Note: This is a medium length post. Bring a cup of tea and a muffin for today's reading selection.

To read the post tootle over to Barnes and Noble

To read the post about the Demos Parneros lawsuit tootle over to Parneros lawsuit

In Counterclaim, B&N Says Former CEO 'Sabotaged' Sale; Sexually Harassed Multiple Women - Publishers Weekly

Panzer was tootling around in the Catosphere when he decided to make a stop at the Publishers Weekly site. With a little digging around our fearless kitty discovered a post about Barnes and Noble.

It's enough to give me a headache.

The post by Andrew Albanese states, Barnes and Noble has filed a counter claim against former CEO Demos Parneros. In the counter claim Barnes and Noble asserts Mr. Parneros deliberately sabotaged a due diligence process meeting called by an unnamed book retailer interested in acquiring the company. Also, included in the counter claim is the fact that in addition to the original complaint by a female employee of sexual harassment, others have now come forward. There are other details of the counter claim included in the post.

Panzer says, "This little kitty thinks this is just getting messier and messier."

Note: This is a long-medium length post. Bring a cup of apple cider and some leftover Halloween candy for today's reading selection.

To read the post tootle over to Barnes and Noble

B&N Considering a Sale - Publishers Weekly

Panzer's trip into the Catosphere today took him to the Publishers Weekly site. With no digging at all our furry kitty boy found a post about the possible sale of Barnes and Noble.

According to Jim Milliot, Barnes and Noble is open to the sale of the company. Yesterday, Panzer told you about the possible sale news. Jim Milliot's Publishers Weekly post is an expansion of the information in yesterday's Chicago Business Journal post. Without naming any entity Barnes and Noble says "multiple parties" are interested in buying the company. It's also reported Chairman Leonard Riggio is also interested in buying the company. The post includes links to other posts about the possible Barnes and Noble sale.

Why sell? They're opening new stores.

Panzer says, "This little kitty wants to know who these unnamed possible interested buyers are?"

Note: This is a medium-length post. Bring a cup of tea and a chocolate chip cookie (biscuit) for today's reading selection.

To read the post tootle over to  Barnes and Noble

To read yesterday's post tootle over to Barnes and Noble sale

 

Publishers Puzzled, Frustrated by Parneros Lawsuit - Publishers Weekly

There must be an answer here somewhere.

Today, Panzer's trip into the Catosphere took him to the Publishers Weekly site. There our adventuresome kitty boy found a post with followup information about the Demos Parneros lawsuit against Barnes and Noble he told you about earlier this week.

According to Jim Milliot, publishers are beginning to have reactions to the lawsuit. The reactions range from puzzlement to frustration. Mr. Parneros' statement about the failed company sale has lead some publishers to puzzlement and uncertainty about the company's future; while the company's inability to find a continuing CEO leads other publishers to frustration. The post includes suggestions for the company's improvement offered by the publishers interviewed.

Panzer says, "Hmm ... Either Mr. Parneros didn't have a confidentiality clause in his contract or he forgot about it when he told about the failed sale of the company."

Note: This is a medium length post. Bring a cup of tea and a muffin for today's reading selection.

To read the post tootle over to Barnes and Noble

To read Panzer's earlier post about the Parneros lawsuit tootle over to Parneros lawsuit