Jim Milliot

Thomas Coesfeld, a grandson of Bertelsmann patriarch Reinhard Mohn, has been named to succeed Thomas Rabe as chairman and CEO of the German conglomerate, whose holdings include Penguin Random House, at the end of 2026.

The acquisition of Cherry Lake Publishing Group will add approximately 6,000 titles to Random House Children’s Books. The Ann Arbor–based company will “will continue to operate independently,” RHCB said.

The publisher’s sales slipped 2% in the quarter ended September 30, and earnings had a steep fall due in part to the write-off of $13 million owed to HarperCollins by the recently collapsed Baker & Taylor.

A study commissioned by the Gotham Ghostwriters and Bernoff.com found that while 61% of professional writers are embracing AI tools, authors, specifically fiction authors, are much more wary.

Under the new structure, Liz Kribs will share the title of publisher for the children’s book group with Tara Walker, who has held the role since 2015.

The Big Five house has purchased the book, e-book, audiobook, and audio original catalogs of the mind-body-spirit publisher. With the sale, Sounds True will focus on its online learning, events, and digital media businesses.

Total industry sales fell 4.4% in August. Adult nonfiction sales fell 17%, while children’s/YA nonfiction sales declined 16.2%. Fiction fared better, though adult fiction sales were still off 3.4% and children’s/YA sales down 8.2%.

Founded in 2014 by industry veteran Chris McKenney, the Miami-based Mango enjoyed early success, but high-interest loans taken during the pandemic and worsening industry conditions made it impossible for the indie publisher to continue.

Wicked House Publishing, which has a backlist of more than 50 titles, will become the horror imprint of Aethon Books.

A New York judge dismissed an attempt by OpenAI to throw out a class action lawsuit that consolidates suits from a number of authors charging the company with copyright infringement.