F+W MEDIA ASSET SALES SCHEDULED

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V22 2019 INDEX E-SYLUM ARCHIVE

The E-Sylum: Volume 22, Number 17, April 28, 2019, Article 10

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 individual periodicals.

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. (https://www.bloomberg.com/research/stocks/private/snapshot.asp?privcapid=96960)

To read a March 12, 2019 Publisher's Weekly article, see:
F+W Media Files Chapter 11, Will Sell Assets (https://www.publishersweekly.com/pw/by-topic/industry-news/financial-reporting/article/79497-f-w-media-files-chapter-11-will-sell-assets.html)