MAIN NEWS HEADLINES
October 19 – October 26, 2006 Edition
Cool Springs Sold
As Part of Nelsons
Major Restructuring
NASHVILLE, TN/10/17/06—Christian publisher Thomas Nelson Inc. has sold the imprint Cool Springs Press to Waynick Book Group of Franklin, Tennessee which has acquired the entire 200-title Cool Spring backlist. The move is part of a massive restructuring at Thomas Nelson.
Nelson is now eliminating 18 imprints and will be organized into publishing units under BISAC category codes. After April 1, 2007, all titles will be sold under the Thomas Nelson logo. The Cool Springs sale comes on the heels of Nelson’s acquisition of Integrity Publishing just a few months ago. Integrity’s imprints also will be folded into the publishing units.
Michael S. Hyatt, President and Chief Executive Officer of Thomas Nelson, said,“Cool Springs’ books are sold through unique specialty outlets where we can’t really sell our other products. In addition, the content can’t be exploited by our other product divisions.” The company’s divestment comes weeks after Nelson’s announced purchase of Integrity Publishers. Mr. Hyatt commented, “It makes sense to sell the division now and redeploy our resources in ways that take advantage of our existing sales infrastructure and product development expertise. Our acquisition last month of Integrity Publishers is a good example of how we are doing just that.”
Roger Waynick, President of Waynick Books, founded Cool Springs Press in 1991. He sold the company to Thomas Nelson in 2001 and has worked as a consultant for the imprint in various capacities since that time.
Waynick said, “We are pleased to have reacquired Cool Springs Press from Thomas Nelson. Cool Springs has the finest library of garden books available in the country and we feel those assets will provide a solid base that will allow us to grow internally as well as through additional strategic acquisitions.”
Hyatt also noted that the current staff of Cool Springs Press has been offered employment with Waynick and that the transition will occur immediately. Thomas Nelson will retain recently published titles in their new lifestyle, design and entertaining category launched last month by Cool Springs Press. Waynick plans to expand the Cool Springs line beyond main emphasis on gardening titles. A staff of five people will move to Cool Springs Press and Cyndi Games will remain publisher.
Thomas Nelson, Inc. is a leading publisher, producer and distributor of products emphasizing Christian, inspirational and family value themes and believes it is the largest publisher of Bibles and inspirational products. The new restructuring is not expected to eliminate any jobs.
