Egmont closes US division

Egmont Publishing has closed its US division after failing to establish a market-leading position, reports Publishers Weekly. The Danish publisher had put the US division up for sale in October 2014 but failed to find a buyer. The division, which employs six staff, was established in 2008 and published children’s titles for elementary, middle grade and teen readers. Egmont Publishing International CEO Rob McMenemy said in a statement: ‘The reason for closing the US business is that it does not fit with the strategic position of Egmont Publishing only to invest in countries where we can have a market leading position.’ The division’s offices will close on 31 January.

Category: International news