Thomas Nelson Hands Over Controlling Interest to Secular Investment Firm
Private investment firm Kohlberg & Company has bought a majority stake in Nashville-based Thomas Nelson Publishers.
Thomas Nelson has gone the way of Zondervan, another prominent Christian publisher. They were purchased by NewsCorp who also owns 20th Century Fox Films, Fox Television, HaperCollins Books, the Wall Street Journal, MySpace.com and many other media properties around the world.
According to the Kohlberg web site, “Kohlberg & Company invests in companies where it can work in partnership with senior management to identify growth opportunities and implement fundamental operating and strategic changes, resulting in substantial increases in revenue and cash flow.”
It is unknown at this time whether or not distinctively Christian books will fit into the strategic changes envisioned by Kohlberg & Company, or if they will seek to dilute the book list with topics showing greater religious diversity which they feel could result in greater profits.
James A. Kohlberg is the Chairman of Kohlberg & Company. He is also on the Board of Directors of the New York Times in which his company holds a minority stake.
“We are very excited about what this means for Thomas Nelson’s future in the rapidly evolving publishing industry,” Hyatt said in a news release.
Published on: Jun 16, 2010