Publishing News
Hachette Book Group is reorganizing. The Hachette Books non-fiction line will be folded into Perseus Books with the departure of founder Mauro DiPreta. Da Capo Press, a Perseus imprint, is in turn becoming part of Hachette Books, with Da Capo publisher John Radziewicz retiring. Susan Weinberg will be acting publisher until a new publisher is chosen. “Several positions” are being eliminated as part of the consolidation.
Dark Horse Comics CEO and founder Mike Richardson sold a large stake in the company, reported at around $20 million, to Vanguard Visionary Assets, a Hong-Kong based company; Stanley Cheung will join the five-person board of Dark Horse for Vanguard. Richardson says he kept a “large chunk” of the company, but it’s unclear whether he retains a majority share. He says Vanguard invested in “a number of area, including a stock purchase… a development fund and a film fund,” and that he “did this deal to accelerate company growth. Nothing like cash and new markets to help with that task.” Dark Horse hopes to expand significantly in China.
Medallion Press has filed for Chapter 7 bankruptcy liquidation, claiming “financial difficulties due, in part, to the difficulties facing the publishing industry.” Medallion Press assets include $254,000 in an Ingram Publisher Services warehouse, and $67,000 in cash. They owe around $111,000 in unsecured claims.
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