Apr. 1st, 2004

dampscribbler: (Default)
Just got this in my email (Publisher's Weekly Newsletter.) I'm curious as to how this was "inevitable."
__________________________________________________________
Penguin and B&N to Swap Businesses

In a move that one insider called "inevitable," Penguin Group USA and Barnes & Noble are swapping substantial parts of their businesses. Under terms of the deal, Penguin is acquiring B&N's superstores and Dalton outlets as well as its online book retailing operations. In turn, B&N is taking over Penguin's extensive publishing program.

B&N is keeping its Sterling subsidiary and B&N-branded publishing operations. It plans to re-brand Penguins books with its B&N Books and B&N Classics imprints.

For its part, Penguin will merge the B&N.com site into its own Web site. It also plans to re-brand B&N superstores as Penguin Books; Dalton stores will become B. Penguin Booksellers.

B&N head Steve Riggio told PW Daily, "This is a beautiful switch. As our own publishing program has increased, we've learned we're pretty darn good at it. And we love the margins! I just hope Penguin as a bookseller doesn't try to squeeze us. Come to think of it, maybe we got the good margins only because we owned the stores and our authors are dead. Uh oh. Can you hold on?"

A Penguin spokesperson said, "This goes to show the lengths to which Penguin will go to guard its franchise."

Insiders say the deal began with a casual conversation between Penguin and B&N executives during one of B&N's many open houses for the media, publishers and competing booksellers. Key players met again the next day, and a deal was concluded within hours.
----------------------------------------------


Oh, wait. Today is April Fool's day.
Got me. :-)

Profile

dampscribbler: (Default)
dampscribbler

March 2015

S M T W T F S
1234567
8910 11121314
15161718192021
22232425262728
293031    

Most Popular Tags

Page Summary

Style Credit

Expand Cut Tags

No cut tags
Page generated Aug. 20th, 2025 06:00 am
Powered by Dreamwidth Studios