Friday, February 12, 2010

Future of Kirkus

Reprinted with permision of Publishers Weekly

After reports of the death of Kirkus Reviews circulated in December, followed by news that the literary review magazine would continue publishing after all, the New York Times reported this morning that the publication has been bought by Herb Simon, an entrepreneur who made his money developing shopping malls and also owns the NBA basketball team, the Indian Pacers.

An executive at Simon's company told the Times that the Kirkus staff would stay in place and that one reason Simon, who also co-owns the independent Telecote Books in Montecito, Calif., acquired the publication is because he is a "voracious reader." Simon also told the Times that, given the shifting dynamic in the book industry with publishers moving from creating and distributing physical books to digital ones, "turmoil like this creates opportunities." A rep from Kirkus told PW that an official statement about the sale would be issued later today or tomorrow.

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