Penguin Random House Buys F+W Media’s Books at Auction

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From Publishing Perspectives:

Gregory J. Osberg, CEO of F+W Media, has announced today (June 7) that  Penguin Random House’s bid to acquire the book-publishing assets of F+W Books has been selected as the winning bid following the sale process in the company’s chapter 11 case.

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In a statement issued by Penguin Random House to the news media, we read, “Penguin Random House has acquired the book-publishing assets in the United States and the United Kingdom of F+W Books, a division of F+W Media, in an auction held Thursday (June 6) by the U.S. Bankruptcy Court for the District of Delaware.

“F+W’s new titles and its backlist of more than 2,000 illustrated nonfiction books across a broad range of categories and brands will be published within Penguin Random House’s Penguin Publishing Group division.”

In our March 12 story, we wrote, “In September of last year, the F+W Books division had generated what the [court] filing says was some US$22 million in revenue, with about 20 percent of that in UK business and the rest in the States.

Link to the rest at Publishing Perspectives