AppNewser Appdata 10,000 Words FishbowlNY FishbowlDC TVNewser TVSpy LostRemote AgencySpy PRNewser MediaJobsDaily UnBeige SocialTimes

Posts Tagged ‘Thomas Rabe’

Bertelsmann Acquires 100% Stake in Random House Mondadori

Bertelsmann, the corporate parent of Random House, has purchased a 100 percent stake Random House Mondadori. Random House created the publishing house for Spain and Latin America in 2001, splitting the shares 50/50 with the Spanish publisher.

Spanish antitrust authorities still need to approve the acquisition, and the name will be changed “in the near future.” The move came one week after Random House decided to merge with Penguin next year, creating Penguin Random House.

Bertelsmann CEO Thomas Rabe had this comment: “Bertelsmann believes in the creative and commercial potential of the book business and, by maximizing its holding in Random House Mondadori, is embracing an opportunity to significantly improve both its position in the Spanish book market and its access to the growing Spanish-language markets of Latin America.”

Mediabistro Course

Freelancing 101 Online Boot Camp

Freelancing 101Starting April 28, this online event will show you the best way to start your freelancing career, from the first steps of self-advertising and marketing, to building your schedule and managing clients. By the end of this online boot camp you will have a plan for making a profitable career as a freelancer, and the skill set to devote yourself to it. Register now! 

Random House & Penguin To Merge

The major publishers Random House and Penguin have decided to join forces, creating a new entity called Penguin Random House. Random House worldwide CEO Markus Dohle will be CEO of the new group. Penguin CEO John Makinson will chair the board of directors.

Bertelsmann (the corporate parent of Random House) will control 53 percent and Pearson (the corporate parent of Penguin) will control 47 percent of the new publisher. The new entity will not include Bertelsmann’s German trade publishing business and Pearson decided to “retain rights to use the Penguin brand in education markets worldwide.” Bertelsmann CEO Thomas Rabe had this comment in the release:

“With this planned combination, Bertelsmann and Pearson create the best course for the future of our world-renowned trade-book publishers, Random House and Penguin, by enabling them to publish even more effectively across traditional and emerging formats and distribution channels. It will build on our publishing tradition, offering an extraordinary diversity of publishing opportunities for authors, agents, booksellers, and readers, together with unequalled support and resources … Its significance for our business and for the cultural resonance of our book publishing operations worldwide is on a par with such momentous agreements as the takeover of Goldmann Verlag in 1977; the acquisition of a stake in Bantam Books, our first-ever U.S. investment, that same year; the purchase of Doubleday in 1986; and especially that of Random House in 1998. Each of these steps was aimed at increasing the breadth and quality of Bertelsmann’s publishing operations, as our new company will.”

The new company will combine all of Random House and Penguin’s business in the United States, Canada, the U.K., but it will also publishing business in Australia, New Zealand, India, South Africa, China, Spain and Latin American.

Follow this link to read the Pearson release, explaining how the merger “will generate synergies from shared resources such as warehousing, distribution, printing and central functions.”

 

After Napster Payout, Bertelsmann Still Keen to Acquire

Reuters reports that Berteslmann, Random House‘s parent company, said on Tuesday it was keen to target acquisitions in education publishing as it posted a first-half loss due largely to litigation costs. Bertelsmann Chief Financial Officer Thomas Rabe said the company should be in a position to make significant acquisitions from next year and said it will have between 1 billion euros ($1.4 billion) and 1.5 billion to buy new businesses annually.

Net income dropped 85 percent on the cost of litigation over Internet music company Napster (after Bertelsmann settled a lawsuit filed by the National Music Publisher’s Association that said the company’s investment in Napster encouraged abuse of copyrighted content, resulting in 243 million euros in payment for settlements) as well as a fall in earnings and revenue at its book and music units.

Slight Q1 Loss for Bertelsmann

Bertelsmann, the international media company and parent company of Random House, announced that the company continued its positive development in the first quarter of 2007. Adjusted for portfolio and foreign exchange effects, revenue rose by 1.7 percent year on year, to 4.4 billion euros. Reported revenue declined slightly though, since this was the first time that the BMG Music Publishing business was no longer included. The reported revenue also reflects foreign exchange effects arising from the euro’s strength in relation to the dollar. Bertelsmann’s Chief Financial Officer Thomas Rabe said: “Overall, we got off to a good start this year and we expect to achieve our financial targets for 2007. We are pleased to have reached out-of-court settlements about Napster with most plaintiffs and claimants.”