Bertelsmann is acquiring full ownership of Penguin Random House, the world’s largest trade publishing group.
Bertelsmann, also the parent company for BMG, will acquire the remaining 25% stake in Penguin Random House now held by its British co-shareholder Pearson, increasing its stake in the company to 100 percent. The purchase price for the share package is $675 million, and the transaction is expected to close in the 2nd quarter of 2020. Germany’s Verlagsgruppe Random House, which is wholly owned by Bertelsmann, will become part of Penguin Random House. Once the sale is approved, the New York-based book publishing group will include more than 300 individual publishing imprints on six continents.
“The increase to 100 percent is a milestone for Bertelsmann,” said Thomas Rabe, Chairman and CEO of Bertelsmann and Chairman of the Board of Directors at Penguin Random House. “We will become the sole owner of the world’s biggest trade publishing group, which sets standards with its creative diversity, global marketing power, and commercial strength. We will continue to expand Penguin Random House in the coming years, through organic growth and acquisitions. The book business is part of Bertelsmann’s identity. For us and our shareholders, the transaction is commercially attractive, as the share of Bertelsmann’s shareholders in group profit will increase by more than €70 million per year.”
Bertelsmann and Pearson had originally combined their respective Random House and Penguin Group book-publishing businesses in 2013. Bertelsmann initially held 53 percent of the new company Penguin Random House, and Pearson 47 percent. In 2017, Bertelsmann increased its stake to 75 percent. In 2018, 481 Penguin Random House titles made the “New York Times” bestseller lists, 69 of them rising to number one.
Markus Dohle, CEO of Penguin Random House and a member of the Bertelsmann Executive Board, said, “The full acquisition of Penguin Random House is a testament to Bertelsmann’s belief in the future of books and reading, as well as their trust in our colleagues around the world to be able to grow our company over the next several years. We are extremely well positioned to continue to take advantage of both organic and acquisitive growth opportunities in existing and new markets globally. I’m personally very excited to welcome the colleagues and authors of Germany’s Verlagsgruppe Random House into our global community of publishing imprints at Penguin Random House. With Bertelsmann bringing all of us together, we will further enhance our shared strengths.”
Lynn, Linthicum Launch Entertainment Marketing Company Artistry Alliances
/by Jessica NicholsonLinthicum, Lynn
Laura Lynn and Jessica Linthicum have launched Nashville-based entertainment marketing company Artistry Alliances. The company has aligned artist with brands including Zaxby’s, Bulletproof Coffee, Ford, Country Outfitters and more.
Lynn spent the past decade managing artist Lucas Hoge and aligning him with brands including Southwest Airlines, Bass Pro/Cabela’s, Animal Planet and more. Linthicum previously spent seven years in radio, including work as Director of Marketing for Cumulus Radio; she then launched her own consulting firm.
Bertelsmann To Become Sole Owner Of Penguin Random House
/by Lorie HollabaughBertelsmann is acquiring full ownership of Penguin Random House, the world’s largest trade publishing group.
Bertelsmann, also the parent company for BMG, will acquire the remaining 25% stake in Penguin Random House now held by its British co-shareholder Pearson, increasing its stake in the company to 100 percent. The purchase price for the share package is $675 million, and the transaction is expected to close in the 2nd quarter of 2020. Germany’s Verlagsgruppe Random House, which is wholly owned by Bertelsmann, will become part of Penguin Random House. Once the sale is approved, the New York-based book publishing group will include more than 300 individual publishing imprints on six continents.
“The increase to 100 percent is a milestone for Bertelsmann,” said Thomas Rabe, Chairman and CEO of Bertelsmann and Chairman of the Board of Directors at Penguin Random House. “We will become the sole owner of the world’s biggest trade publishing group, which sets standards with its creative diversity, global marketing power, and commercial strength. We will continue to expand Penguin Random House in the coming years, through organic growth and acquisitions. The book business is part of Bertelsmann’s identity. For us and our shareholders, the transaction is commercially attractive, as the share of Bertelsmann’s shareholders in group profit will increase by more than €70 million per year.”
Bertelsmann and Pearson had originally combined their respective Random House and Penguin Group book-publishing businesses in 2013. Bertelsmann initially held 53 percent of the new company Penguin Random House, and Pearson 47 percent. In 2017, Bertelsmann increased its stake to 75 percent. In 2018, 481 Penguin Random House titles made the “New York Times” bestseller lists, 69 of them rising to number one.
Markus Dohle, CEO of Penguin Random House and a member of the Bertelsmann Executive Board, said, “The full acquisition of Penguin Random House is a testament to Bertelsmann’s belief in the future of books and reading, as well as their trust in our colleagues around the world to be able to grow our company over the next several years. We are extremely well positioned to continue to take advantage of both organic and acquisitive growth opportunities in existing and new markets globally. I’m personally very excited to welcome the colleagues and authors of Germany’s Verlagsgruppe Random House into our global community of publishing imprints at Penguin Random House. With Bertelsmann bringing all of us together, we will further enhance our shared strengths.”
Caroline Baker Inks With Prescription Songs
/by Lorie Hollabaugh(L-R): Christian Conant, Leah Hodgkiss, Rachel Wein, Caroline Baker, Katie Fagan, Cam Caldwell (Loeb & Loeb LLP)
Caroline Baker, who goes by the artist name Caro, has signed a publishing deal with Prescription Songs.
Caro just released her debut EP, songs from 3am, and graduated from Belmont in May of 2018. She penned some of the songs on her EP with fellow Prescription writer Megan Redmond, and produced the project herself. Caro was featured as the face of Fresh Finds on Spotify, and landed worldwide New Music Fridays over three different singles.
“We are so excited about Caro,” said Katie Fagan, Head of A&R for Prescription Songs, Nashville. “She can do it all – she produces, she writes, and her artist project has taken on a life of its own. She’s a great example of the next generation of music coming out of Nashville and we’re honored to have her on our roster!”
“I’m so excited to have a team like RX and Katie Fagan behind me,” said Baker. “They’re just as hungry for all my crazy dreams as I am, which is exactly what I’m looking for in a publisher.”
Brent Cobb Confirms Spring Tour Dates Including Nashville Stop
/by Lorie HollabaughBrent Cobb. Photo: Don Van Cleave
Brent Cobb will play a series of intimate acoustic dates in 2020 as well as a handful of newly-confirmed full-band shows, it was just announced.
“A Night of Fine Acoustic Country Music with Brent Cobb” will bring Cobb to seated venues across the country, stripped down with an accompanist, allowing fans to hear the songs as he originally wrote them. The shows kick off Feb. 21 in Austin and run through March 22 in Raleigh, with stops in Atlanta, Asheville, Louisville, Washington D.C., Dallas and more.
The new “Brent Cobb and Them” run of full-band dates includes stops at Birmingham’s Saturn on April 3 and Decatur’s Princess Theatre Center on April 4, as well as the grand opening of Brooklyn Bowl Nashville on April 2.
Cobb recently released a collaborative single “Feet Off the Ground” featuring Jade Bird, debuted a three-part video series, “Come Home Soon,” and completed his headlining “Sucker for a Good Time Tour.”
Ben Burgess Joins Warner Chappell Music Nashville
/by Jessica NicholsonPictured: Travis Carter (WCM), Ben Burgess, Ben Vaughn (WCM)
Warner Chappell Music Nashville has signed a global publishing contract with “Whiskey Glasses” writer Ben Burgess.
“Whiskey Glasses,” recorded by Morgan Wallen, became a three-week No. 1 hit earlier this year.
Burgess has also penned songs for Dierks Bentley (“My Religion”), Jake Owen (“Grass is Always Greener”), Tyler Rich (“The Difference”), Pat Green (“Drinkin’ Days”), and HARDY (“Signed, Sober You”). He also penned Martin Garrix’s global smash hit, “There For You,” which charted in the U.S., UK, Australia, Canada, Germany, Italy, France, Spain, and more.
Burgess’ songs have been featured on Grey’s Anatomy and in commercials for Major League Baseball, Xbox, and Lexus.
Ian Munsick Signs With UTA
/by Jessica NicholsonPictured: Erv Woolsey, Erv Woolsey Management; Josh Garrett, UTA; Justin Hill, UTA; Allen Mitchell, Erv Woolsey Management; Lance Roberts, Agent/Co-Head of UTA Nashville Office; Ian Munsick; Caroline Rudolph, Management/Not A Public Figure Mgmt; Lauren Spahn, Shackelford, Bowen, McKinley & Norton LLP; and UTA’s Liam Keitz, Bryan Vastano, Tyler Cole, Haley Fairmont and Kaleb Tooker.
Country artist Ian Munsick has signed with United Talent Agency (UTA), and will release “Solo” and “Mountain Time,” two new songs from his upcoming album, on Jan. 24.
Munsick is represented by The Erv Woolsey Co., in partnership with Caroline Rudolph, CEO and executive creative director of Not A Public Figure Management.
In January, Munsick’s “Horses Are Faster” earned Song of the Year at the iHeartRadio Rocky Mountain Country Music Awards. He has more than 6.5 million streams on Spotify, with more than 110,000 monthly listeners.
“We are beyond excited that Ian chose United Talent Agency as his agency home,” says UTA Nashville’s Lance Roberts. “From the moment we heard his music we had to be part of the team. Ian’s music will stand the test of time and his authenticity resonates on so many levels within the agency. We are honored to be part of his family.”
“It’s a great marriage,” agrees Bryan Vastano, booking agent at UTA Nashville. One listen to Munsick’s music, he says, and you’ll be impressed with his innovation and commitment to his craft. “Ian’s music is extremely refreshing, and his authenticity permeates all of his songs so well. This ability, along with an unbelievable work ethic, drove us to work with him immediately.”
Outback Presents Adds Taylor Freeman As Show Coordinator
/by Jessica NicholsonTaylor Freeman
Outback Presents has hired Taylor Freeman as its new Show Coordinator.
Nashville native Freeman is a 2010 graduate of Middle Tennessee State University’s Music Business program. He launched his career at WME in 2011 and transitioned to work in concert promotion and talent buying in 2015. Most recently, he worked at Big Spring Entertainment as the head talent buyer.
“I’ve had the opportunity to work for a lot of great people in this business, and I am very excited to get to work with Mike Smardak and the group at Outback,” says Freeman. “These guys are making some exciting moves and I consider myself very fortunate to be a part of it.”
Freeman can be reached at taylor.freeman@outbackpresents.com.
Amy Grant Celebrates 1 Billion Global Streams
/by Jessica NicholsonPictured (L-R): Peter York, CCMG Chairman and CEO; Jennifer Cooke, Manager; Amy Grant; Brad O’Donnell, CCMG Co-President. Photo Credit: Capitol Christian Music Group
Over the past four decades, Amy Grant has earned three multi-platinum albums, six platinum albums and four gold albums, with total album sales exceeding 30 million–all before music streaming dominated. On Monday (Dec. 16), Grant’s label Capitol Christian Music Group celebrated Grant’s streaming music successes, surprising the six-time Grammy winner with a plaque commemorating 1 billion global streams.
CCMG’s Chairman and CEO Peter York said, “We are so grateful to Amy for her heart and the music she’s gifted to the world over the years. Her music continues to have significant impact with listeners and we’re thrilled to see it reach new fans every year. We are honored to celebrate these 1 billion streams and thank all our streaming partners, which will continue to keep her music vibrant into the next decade and beyond.”
Grant and husband Vince Gill are currently performing their 12-date run of holiday shows at the Ryman Auditorium. This fall, Grant released her timeless Christmas albums in a vinyl box set, which includes the 3x multi-platinum Home For Christmas, as well as A Christmas Album and A Christmas to Remember. The box set also includes a cover of “Merry Christmas Darling” and “Let The Season Take Wing,” exclusively available as part of the set.
Dylan Scott Joins KP Entertainment
/by Jessica NicholsonPictured (L-R, back row): Waylon Weatherholt (Day to Day Manager), Ethan Helms (Tour/Digital Content Coordinator), Dustin Eichten (VP of KPE). (L-R, front row): Leighanna Smith (Day to Day Manager), Kerri Edwards, Dylan Scott, Jacoby Plyler (Digital Marketing Manager), Cait Murphy (Executive Assistant to Kerri Edwards)
Dylan Scott has joined KP Entertainment for management, led by Kerri Edwards. KP Entertainment is home to artists including Luke Bryan, Cole Swindell, Jon Langston, CB30 and DJ Rock.
“Dylan has built such a strong base across country radio, streaming and touring,” Edwards said. “This opportunity to partner with him was one I couldn’t pass up. My team and I are excited to jump in!”
“I’m ready to start this next chapter of my career,” Dylan added. “When looking for who to do that with, I knew Kerri Edwards was the person! I’m excited to be a part of the KPE team!”
Additionally, Leighanna Smith recently joined KP Entertainment as day-to-day manager for Swindell and CB30. Her past stops include UMG Nashville and Q Prime South.
‘Songland’ Writer IRO Signs With SMACKSongs
/by LB CantrellPictured (L-R): SMACKSongs’ Shane McAnally; IRO; SMACKSongs’ Robin Palmer and Robert Carlton. Photo: Kaiser Cunningham
Songwriter and Songland winner IRO has signed an exclusive publishing agreement with SMACKSongs.
Discovered in a New York City subway station by one of Brazil’s most prominent DJs, IRO’s distinct talent as a songwriter has continuously led him to work with prestigious collaborators. He is best known for his collaboration with Macklemore, “Shadow,” which was featured on NBC’s Songland.
Through his participation on Songland, IRO found himself performing alongside Macklemore in front of 40,000 people at Lollapalooza Brazil in Sao Paulo. In 2019, he has performed in front of 400,000 fans while touring with Alok and Macklemore, accumulated over 4 million monthly streams and garnered 150 million lifetime streams.
“Meeting Shane completely threw me off guard. I had no idea my heart was headed to Nashville. The SMACK team is filled with talent and really feels like a family,” said IRO. “I’m beyond excited to see and hear all of the things that will come out of this melting pot!”
SMACKSongs Co-Owner and CEO, Shane McAnally, said, “IRO is truly like a walking song. He can’t help but turn every situation and moment into music, and we are so lucky to get to be a part of the soundtrack of his life. I love seeing the world through his eyes and collaborating with him, and I can never wait to see where he goes next. I feel blessed and honored to have him in the SMACK family.”