F+W Media has acquired Aspire Media LLC, the parent company of Interweave, an arts & crafts book and magazine publisher, in a deal whose terms were not disclosed.
Private equity firms Frontenac Company, Catalyst Investors, Clay Hall, as well as a couple of executives from the Interweave management team sold the publishing company to F+W. Through the acquisition, F+W Media will own Interweave’s various businesses which includes: more than 30 arts and crafts publications; 350 craft books; 33 websites; 10 online communities; 10 e-commerce stores; as well as various consumer events, and video programming.
F+W CEO David Nussbaum said that Interweave’s strategy is similar to F+W’s approach, which is to focus on “vertical communities.” F+W’s mission, Nussbaum stated, is “To provide an expertly curated portfolio of quality content, products and services, marketed and sold direct to our comprehensive database of core enthusiasts, through our robust e-commerce stores.”
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Today Amazon opened the Kindle Owners’ Lending Library, allowing Amazon Prime members to rent up to one digital book per month with no due date. The library includes 5,000 titles, ranging from three books by Michael Lewis to Suzanne Collins‘ The Hunger Games trilogy to Sara Gruen‘s Water for Elephants.
The library books can only be read on Amazon Kindle devices: the Kindle, Kindle Touch, Kindle Keyboard or Kindle Fire–excluding readers on mobile devices and rival tablets. Customers can sign up for the $79-a-year Amazon Prime membership to access the library.
Amazon was frank about the terms of the deal with publishers: “Titles in the Kindle Owners’ Lending Library come from a range of publishers under a variety of terms. For the vast majority of titles, Amazon has reached agreement with publishers to include titles for a fixed fee. In some cases, Amazon is purchasing a title each time it is borrowed by a reader under standard wholesale terms as a no-risk trial to demonstrate to publishers the incremental growth and revenue opportunity that this new service presents.”
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