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Thursday, 11th February 2010

Kirkus Reviews Will Continue! Publication Sold to Indianapolis Pacers (NBA) Owner

From the Article:

Looks like Kirkus Reviews will live another day to praise — and skewer — authors, but with some rather unorthodox owners for a publication with a long literary pedigree.

Herb Simon, the owner of the Indiana Pacers, the NBA team, and chairman emeritus of Simon Property Group, a shopping mall developer, has bought the venerable journal of prepublication book reviews from the Nielsen Company, which announced in December it was closing the magazine.

Terms of the deal were not disclosed.

[Snip]

Mr. Simon, who is co-owner of an independent bookstore in Montecito, Calif., has appointed Marc Winkelman, chief executive of Calendar Holdings, owner of several chains of seasonal retailers, to be chief executive of what will be re-named Kirkus Media. Mr. Winkelman is also taking a small stake in the company.

[Snip]

In a statement, Mr. Simon said: “With the growth of e-books and e-reading devices, no one can really see the future of publishing. But turmoil like this creates opportunities. At a time when even the definition of a book is changing, my love of books makes me want to be part of the solution for the book publishing industry.”

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Source: New York Times


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