Bezos Buys ‘Washington Post’
The Washington Post Co. agreed to sell its flagship newspaper to Amazon founder and CEO Jeff Bezos, ending the Graham family’s stewardship of the paper after four generations. Bezos paid $250 million in cash for the Post and affiliated publications. The transaction does not involve Amazon.
HMH Shareholders Want IPO
In a report posted on its Web site, Houghton Mifflin Harcourt said that it received a notice from a group of stockholders, who collectively own at least 25% of the company’s shares, demanding that HMH begin the process of going public via an initial public offering. Under the terms of the company’s most recent financial reorganization, HMH stockholders have the right to request that the publisher issue an IPO.
Sales Fall, Losses Rise at Indigo
Indigo Books & Music reported that its revenue was down 8.1% in its first quarter this year, compared to the same period in 2012, and that its net loss increased to C$15 million from C$5.5 million.
Onder Joins Bloomsbury Children’s Books
Bloomsbury Children’s Books has named Catherine Onder as its new editorial director, effective September 3. Onder was most recently a senior editor at Disney-Hyperion, where she edited, among other authors, Elizabeth Wein, Ally Carter, and Rachel Hawkins.
Hanson, Two Others Promoted at S&S Canada
After being given clearance by Canada’s government to expand its operations there, Simon & Schuster has added “publisher” to S&S Canada president Kevin Hanson’s title. Hanson in turn announced two promotions, appointing director of sales Alison Clarke to the position of associate publisher and naming Phyllis Bruce editor of Phyllis Bruce Editions.
Quarto Results Mixed
The U.K.-based Quarto Group reported a small decline in sales for the six-month period ended June 30, with revenue falling to $72.2 million, from $73.2 million in the comparable period last year, while operating profit inched ahead to $4 million (from $3.9 million). CEO Marcus Leaver said he was satisfied with results, given that 2013 has been seen as a transition year.