Perseus sale to Hachette, Ingram completed
In the US, the sale of Perseus Book Group’s publishing and distribution arms to Hachette Book Group (HBG) and Ingram, respectively, has been completed, reports Publishers Weekly. HBG’s purchase of Perseus’ publishing operations, including nine imprints, previously announced in March, has been finalised after passing regulatory approval. Hachette will make Perseus Books a new division under Perseus executive Susan Weinberg, who will join HBG’s senior management board as publisher and senior v-p of the division. Michael Pietsch, CEO at HBG, said the acquisition ‘advances our strategic goals of overall growth, and the expansion of our nonfiction and backlist catalogs’. Ingram’s acquisition of Perseus’ distribution companies—Publishers Group West, Consortium Book Sales & Distribution, Perseus Distribution and Legato—has also been finalised, boosting Ingram’s publisher clients to 600.
Category: International news