For weeks now we've been following news of the bankruptcy of Krause Publications parent company F+W Media. Bloomberg published notices
of bidding procedures for F+W assets, which would include the Krause assets including books, catalogues, periodicals and web sites. Remember, just
because the overall parent is bankrupt it doesn't mean that none of the component businesses are viable - some may well be able to continue on
their own under new management. Here's hoping suitable buyers can be found. -Editor
Bidding Procedure Approved for F+W Media, Inc.
Apr 15 19
The US Bankruptcy Court gave an order approving the bidding procedures relating to the sale of certain assets of F+W Media, Inc. on April 15, 2019.
The debtor's assets include assets related the F+W books line. To qualify as a qualified bidder, interested parties should submit their bids by
May 16, 2019 along with good-faith deposit in the amount of 7.5% of the purchase price. The debtor has scheduled an auction on May 20, 2019. The
stalking horse bidder would be entitled to a break-up fee and expense reimbursement in case of termination of the asset purchase agreement. The sale
hearing is scheduled for May 22, 2019.
See the article for more information. There is another auction on May 30, 2019 for "assets related to the communities line." Thanks to
the April 23, 2019 issue of News & Notes from the Society of Paper Money Collectors for the link to the article.
I'm not sure, but the "communities line" seems to mean the magazines. It doesn't appear that offers would be entertained for
This split of F+W could mean a split of the former Krause Publications, with book publishing (the Standard Catalog of World Coins, etc)
being separated from the periodicals (such as Numismatic News, Coins Magazine, and Bank Note Reporter.
I understand NN, CM and BNR pull their pricing from a database tied in with the former Krause Publications books division. If a different
purchaser buys the books, the periodicals might have to purchase pricing information from the new owners, buy it elsewhere, or do without, reducing
their product value to readers. -Editor
To read the complete article, see:
Company Overview of F+W Media, Inc.
To read a March 12, 2019 Publisher's Weekly article, see:
Media Files Chapter 11, Will Sell Assets
Wayne Homren, Editor
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