Bloomsbury Publishing PLC Bloomsbury Acquires Oberon Books (3616W)
10 December 2019 - 9:45PM
UK Regulatory
TIDMBMY
RNS Number : 3616W
Bloomsbury Publishing PLC
10 December 2019
10 December 2019
BLOOMSBURY PUBLISHING Plc
("Bloomsbury")
BLOOMSBURY ACQUIRES OBERON BOOKS
Bloomsbury Publishing Plc ("Bloomsbury") announces that it has
today completed the acquisition of the entire issued share capital
of Oberon Books Limited ("Oberon" or the "Acquisition"), the
London-based drama publisher. The consideration was GBP1.2 million,
all of which was satisfied in cash at completion. The business will
operate within Bloomsbury's Academic & Professional division.
Oberon generated GBP1.0 million* of revenue in the year ended 31
December 2018. There are opportunities for profit enhancements
following the integration of the business into Bloomsbury. The
Acquisition is expected to break even in its first year, before
reorganisation and acquisition costs, then be earnings enhancing
thereafter. It will contribute approximately GBP0.1 million of
revenue to Bloomsbury in the year ending 28 February 2020.
(*Unaudited)
This acquisition comes as Bloomsbury celebrates 60 years of
Methuen Drama's Modern Plays, and the crowning of The Arden
Shakespeare Third series, with the final play, Measure for Measure,
publishing in January. The Oberon programme aligns perfectly with
Bloomsbury's existing publishing, whilst strengthening its
offerings in contemporary and cutting-edge theatre. With the
combined lists of Oberon, Methuen Drama and The Arden Shakespeare,
Bloomsbury is now the leading publisher in drama and the performing
arts.
Jonathan Glasspool, Managing Director of Bloomsbury's Academic
& Professional Division said:
"We are delighted to become owners of the prestigious Oberon
list. The Oberon programme aligns very well with our existing
publishing within Methuen Drama. The Oberon list strengthens our
offerings in contemporary theatre. With the combined lists of
Oberon, Methuen Drama and The Arden Shakespeare, Bloomsbury is
looking forward to developing and diversifying its position as the
world's leading international publisher in drama and the performing
arts."
Oberon's founder James Hogan said:
"After 32 years it's time to ensure that Oberon and its authors
achieve a secure, lively home in the future. I'm truly delighted
that Bloomsbury, the leaders in drama publishing, are taking over
to carry on the good work. I've spent nearly half of my life
building Oberon's list and supporting new writers. It grew out of
my work in a reading group at Riverside Studios in the early
Eighties. I had little idea then that Oberon would flourish and
become a major new force in the business. It's been a fantastic job
working with so many brilliant authors and agents for so long."
-ENDS-
For further information, please contact:
Bloomsbury Publishing Plc +44 (0) 20 7631 5630
Nigel Newton, Chief Executive
Penny Scott-Bayfield, Group Finance
Director
Hudson Sandler +44 (0) 20 7796 4133
Dan de Belder / Hattie Dreyfus bloomsbury@hudsonsandler.com
NOTES TO EDITORS
Bloomsbury Publishing Plc
Bloomsbury Publishing Plc is a global independent publisher
across trade, specialist, professional, school and higher education
markets. Its Academic division has grown rapidly since its
inception in 2008, publishing around 1200 titles per year and
specialising in the arts, humanities and social sciences. It leads
the field in innovative publishing, with a fast growing portfolio
of digital resources, including the award-winning Drama Online.
The Methuen Drama imprint includes a diverse range of plays by
authors including Sarah Kane, Katori Hall, Arthur Miller, Kwame
Kwei-Armah, James Graham, Edward Bond, Lucy Prebble, Mark Ravenhill
and Caryl Churchill. As well as play texts Methuen Drama publishes
books for theatre-goers, students, scholars, practitioners, actors
and those wishing to pursue a career in the theatre industry.
Oberon Books
Founded in 1985 by James Hogan, Oberon Books is now one of the
most exciting publishers specialising in drama and the performing
arts. It has a backlist of 1500+ books including some of the best
of British theatre since the 1940s, diverse European and world
theatre in translation and classics from the world's leading
dramatists, and a wide range of publications covering the theatre,
opera, dance, biography, performance studies, monologues, practical
guides and fiction.
Oberon has a reputation for publishing some of the most
challenging, exciting drama happening right now, bringing into
print plays from the stages of the National Theatre, the Donmar
Warehouse, the Royal Court, the Tricycle, Traverse, Soho, major
regional theatres, and fringe theatres, not forgetting the West End
and Broadway.
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END
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