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Posts Tagged ‘Bennett S. LeBow’

Neil Gaiman Meets Dr. Who; Marvel Meets iPad; J.K. Rowling Meets eBooks: Weekend Reading

As we head out for a three-day weekend, here’s an extra-long list of Weekend Reading to keep you busy over the holiday.

Author Neil Gaiman provided photographic evidence that he has written a Dr. Who episode.

In the video embedded above, a Marvel executive talked about how the iPad is changing the comics business: “digital books are actually leading to physical purchases.”

Vector Group, Ltd. chairman Bennett S. LeBow will invest $25 million in the struggling bookseller, Borders.

The CEO of Figment explored the art of cellphone fiction.

We asked the burning question: What Would James Ellroy Do?

The CEO of Shanda Literature explained the staggering size of his company’s Chinese reading community. Read more here.

J.K. Rowling‘s agent said they are “actively” exploring eBook options for Harry Potter.

Bob Marley‘s son played a set at the HCI booth, promoting his upcoming book.

Novelist Jennifer Egan explored the future of PowerPoint fiction.

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Bennett S. LeBow To Invest $25 Million in Borders

borderslogo23.pngVector Group, Ltd. chairman Bennett S. LeBow will invest $25 million into Borders Group, Inc., the bookseller announced today. The deal is expected to close today, and LeBow will have purchased 11.1 million shares in the bookseller.

Along with his sizable investment, LeBow joined the Board of Directors and was elected chairman of that board. Vector Group CEO Howard Lorber has also joined LeBow as a new member of the board. Current board chairman Richard McGuire has resigned from the board.

McGuire had this statement: “I am pleased to welcome Ben aboard as the new Chairman … Borders has made great progress in improving its financial and operating condition by exiting non-core businesses, reducing fixed costs, improving working capital efficiency, and focusing on operational excellence. More recently, the executive team has begun the process of repositioning the business and in-store experience to succeed in a future of electronic delivery. This effort is supported by an exceptional group of directors who were selected for the Board because of their expertise in the areas most critical to the company’s success. By adding Ben and Howard to this already talented group, the company is now in the best possible position to achieve its full potential.”

UPDATE: A previous version of this post attributed the investment to Vector Group.