For some time now we've been following news of the bankruptcy of Krause Publications parent company F+W Media. Here's what I know about
the asset sales. Here's an excerpt of a June 7, 2019 article from Publishing Perspectives. -Editor
Gregory J. Osberg, CEO of F+W Media, has announced today (June 7) that Penguin Random House's bid to acquire the book-publishing assets of F+W
Books has been selected as the winning bid following the sale process in the company's chapter 11 case.
In a statement issued by Penguin Random House to the news media, we read, "Penguin Random House has acquired the book-publishing assets in the
United States and the United Kingdom of F+W Books, a division of F+W Media, in an auction held Thursday (June 6) by the U.S. Bankruptcy Court for the
District of Delaware.
"F+W's new titles and its backlist of more than 2,000 illustrated nonfiction books across a broad range of categories and brands will be published
within Penguin Random House's Penguin Publishing Group division."
To read the complete article, see:
Penguin Random House Buys F+W Media's Books
at Auction (https://publishingperspectives.com/2019/06/penguin-random-house-wins-bid-to-buy-fw-medias-list/)
Remember, there are TWO parts to the sale. This was for books, but it's not clear to me whether this would include the Krause Standard
Catalog. The OTHER part of the sale is for "Communities", which includes blogs and magazines. I assume Numismatic News and
Bank Note Reporter are lumped in here.
However, there are more hearings scheduled for June 17 and June 24th, so I don't think this is settled yet. Stay tuned. -Editor
To read the F+W bankruptcy legal docket, see:
F+W Media, Inc. Case # 19-10479 (https://dm.epiq11.com/case/FWM/info)
To read an earlier E-Sylum article, see:
F+W MEDIA ASSET SALES SCHEDULED
Wayne Homren, Editor
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