What's Happening?
Open Road Integrated Media has announced the acquisition of RosettaBooks, a move that consolidates two pioneering digital publishers. The acquisition, from private equity firm MEP Capital, will add RosettaBooks'
catalog of over 700 classic titles to Open Road's offerings. RosettaBooks, founded in 2001 by literary agent Arthur Klebanoff, was known for publishing electronic versions of classic backlist works. The acquisition will see Klebanoff continue as a consultant and advisor, maintaining his role as the point of contact for Rosetta authors and agents. Open Road, founded in 2009, has established itself as a leader in digital marketing services for the publishing industry. The deal is expected to enhance Open Road's catalog with notable titles such as 'Brave New World' by Aldous Huxley and 'I Am Legend' by Richard Matheson.
Why It's Important?
This acquisition is significant as it brings together two major players in the digital publishing space, potentially reshaping the landscape of e-book publishing. By integrating RosettaBooks' extensive catalog, Open Road can leverage its digital marketing expertise to increase the visibility and sales of these classic works. This move could set a precedent for further consolidation in the digital publishing industry, as companies seek to expand their catalogs and enhance their market presence. Authors and agents associated with RosettaBooks may benefit from Open Road's established marketing platform, potentially leading to increased sales and readership. The acquisition also highlights the ongoing evolution of the publishing industry, where digital formats and marketing strategies play an increasingly crucial role.
What's Next?
Following the acquisition, Open Road plans to integrate RosettaBooks' titles into its existing catalog and utilize its digital marketing capabilities to boost their sales. Arthur Klebanoff will continue to play a key role in managing RosettaBooks' titles, ensuring a smooth transition and continuity for authors and agents. Open Road's SVP and Publisher Christine Gillespie has expressed enthusiasm for collaborating with Klebanoff to grow sales and build on the legacy of RosettaBooks' titles. The industry will be watching closely to see how this acquisition impacts the digital publishing market and whether it prompts similar moves by other companies seeking to expand their digital offerings.
