Penguin Books And BBC Worldwide Form New Venture

PRESS RELEASE

Monday 3 May

Penguin Books And BBC Worldwide Form New Venture For BBC Children’s Books

Some of the world’s leading character properties including Teletubbies, Tweenies, Fimbles and Bob the Builder, all published by BBC Children’s Books, are to become part of an exciting new global publishing venture announced today by Penguin and BBC Worldwide.

A new company has been formed that will publish between 60 and 80 titles a year under the imprint of BBC Children’s Books; this will sit alongside Penguin’s existing children’s publishing portfolio, which includes Spot, Peter Rabbit, Ladybird books and Puffin.

The new company combines BBC Worldwide’s skills in harnessing strong editorial content from its established children’s portfolio and its proven brand development expertise with Penguin’s publishing creativity, scale, and global sales and distribution capability. With BBC Worldwide the company will develop publishing franchises supporting new BBC properties for the global market and explore further publishing opportunities within the extensive BBC children’s archive.

BBC Worldwide will transfer its existing Children’s Books business to the new company, which will be co-owned by Penguin and BBC Worldwide. The business, including its current dedicated editorial, design and production teams, will be led by Sally Floyer, who combines this role with her current position as Managing Director of Penguin’s Ladybird division. The board of the new company will comprise members of the Penguin Group and BBC Worldwide [see notes].

BBC Worldwide will grant the new company a first option to license the book publishing rights in all new BBC children’s properties to which BBC or BBC Worldwide has the relevant rights. The new company will work within BBC editorial and commercial policy guidelines to ensure that appropriate controls are maintained over BBC intellectual property.

Penguin will provide full operational and management support to the new company, as well as global sales and distribution services.

Chief Executive of Penguin Group (UK), Anthony Forbes Watson, said: “I’m really excited to have the opportunity for Penguin to work closely with BBC Worldwide on developing innovative children’s publishing. Penguin is a committed children’s publisher and this new venture will cement our position as a leading player in this vitally important market segment.”

Chairman and CEO of the Penguin Group, John Makinson, said: “Penguin and BBC Worldwide are natural partners in children's publishing. Our own imprints and characters already reach a worldwide audience and we will now put this experience at the disposal of the BBC's fabulous family of character properties. We're delighted to have that opportunity.”

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BBC Worldwide Chief Executive, Rupert Gavin, said: “A new company which combines the creative magic of BBC children’s properties and Penguin’s distinguished publishing record is an exciting proposition. This move is also another step forward in BBC Worldwide’s strategy for growth. Penguin’s editorial ethos for children’s books is complementary to ours and we look forward to building a strong business, both in the UK and around the world.”

The company will begin trading immediately. Penguin will own a 75% share of equity; BBC Worldwide a 25% share.

To download character images and logos, visit:
The online Penguin Press Office at www.penguin.co.uk/pressoffice

ENDS

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