Sep 26 2008
BookPub News & Rumors, v.7: Borders must sell by end of month; Virgin Comics becomes Liquid Comics
Borders appears to be coming to a dramatic final stand. According to the Wall Street Journal:
Borders Group Inc. has only five more days to announce a deal to sell itself before it must give its largest investor a large block of warrants that could further bolster his control of the nation’s second-largest book retailer by sales.
Under the terms of a deal struck earlier this year, the Ann Arbor, Mich., company will have to grant Pershing Square Capital Management LP 5.15 million warrants to purchase company common stock at $7 per share on Oct. 1 unless it strikes a deal to sell itself before that date.
We’ve been wondering around here lately if Borders was actually doing a little better. They’ve been making some large orders on some books while passing altogether on others. If they sell, I sure am curious to see who will buy!
In other news, Virgin Comics is taking a new name: Liquid Comics. All previous deals will remain in number although dates will likely change, dates TBA. Other news on the comics front is DC Comics shutting down Minx, a line of graphic novels targeting teen girls. Lots of shaking around over there!
