"Osprey sold to Bloomsbury" Topic

Read it on wargames news and terrain. Interesting stuff, especially the details on Osprey's earnings.
link

For a really niche publisher on dead trees they're doing pretty well.

This could be a very interesting development – who knows??

I will be curious to see what they do with it, but to be honest, I hope there arenīt too many changes.

Not a lot of cash flow (EBITDA) in Osprey, which makes the purchase multiple rather high.

They can see "profit enhancements" in the acquisition, been wondering what those would be…possible they can publish cheaper, that and distribution costs may be where the savings are. Ospreys management imho have done a great job expanding into gaming, wonder if they'll stick around.

Profit enhancements, could be account managers, back room functions, if income is mainly from USA what overlaps are there in the businesses? However that is standard in mergers and acquisitions, that's why you are willing to pay the asking price, because you can see improvements which is where you make your money.

Hopefully the culture will not be destroyed, mind you how many obscure subjects are left to do books on?

However if it was owned by a private equity company they will have been preparing it for sale, so we might see some positive improvement if it finds a stable home.

they have had a growing profile at the HMGS East conventions…wonder if this changes?

Say goodbye to Osprey wargame specific stuff like rules,

Ok, Lets have a think here..

We will get specialist books written by people who are not specialists, published under the Osprey imprint, with pictures done by someone who saw gladiator once, and they will wonder why people no longer want to buy the new books. eventually the range will be discontinued, as they no longer sell.

Or

We will not notice any difference. Niche products will continue, Rules writers will be able to get new versions of good but simple rules, and quality will remain (quite) good.

(anyone want to take bets on which way it will go?)

Say goodbye to Osprey wargame specific stuff like rules,

Why do you say that? I know nothing of Bloomsbury Publishing. Do that have a bad reputation for that sort of thing?

I hope your wrong. Osprey gaming has been the best thing to happen to the hobby in a long time.

Osprey has been really making themselves know in last few years, with lots of existing titles. I hope this doesn't adversely affect that. Sounds like they got a deal based on the numbers ($) in that article.

You might see a new range of books that Bloomsbury tries to shoehorn under the Osprey publishing label, esp in the US. Maybe Bloomsbury has some military or wildlife stuff languishing elsewhere that it can revitalize by switching over to Osprey.

Bloomsbury being quite aggressive in this field recently? link

Thanks Whirlwind!
Looks Like Bloomsbury may looking to dominate the military history by acquiring Conway and Osprey.

For those wondering about Bloomsbury's current Military offerings, a search of "Military" at their site brings 503 results!
link
Some of these are the same book in different forms, but it looks like they're no strangers to the field.

It's got to be better for Osprey to be owned by a publishing house than a private equity firm, surely?

I find it absurd that people think that a successful business will acquire another successful business then seek to change the latter's business model significantly so as to screw it up and close it down. Equally a profitable range will most likely be continued by a new owner, an unprofitable range would be axed by the previous owners if they continued in charge.

It may be absurd, but it happens quite often.

Hmm, later today I need to review and revise my Osprey wish list. Not in fear but because I do need to prioritize my 2015 buying plans to reflect current economic reality. This is a good inspiration for that "to do" item.

Texas Jack,

Can you please list/cite some real world examples of that?

Well, the Sears/KMart merger comes to mind. And of course there are vulture capitalist companies like Elliott Management and Bain Capital. When banks buy banks with overlapping departments, most of the bought-out people usually get fired while the people at the buyer get all of the accounts without extra help. For example, when Wells Fargo bought Wachovia, the business loan people at Wells Fargo got the accounts, but nobody from Wachovia transferred to the Wells Fargo business loan division.

I find it absurd that people think that a successful business will acquire another successful business then seek to change the latter's business model significantly so as to screw it up and close it down.

It's one way of eliminating the competition …

It is not clear where Slitherine fits into this picture…it was my understanding that Slitherine had acquired Osprey and Matrix Games, which publishes computer games. I had at least two Osprey editors criticize the impact of the Slitherine management on key decisions.

Having written four books for Osprey I have seen a significant decline in the ability of the Osprey editors to understand the interests of readers of military history in general and wargamers in particular. Osprey stubbed their toes with several recent lines, Raid and Command, in particular, as well as the fiasco of their illustrated histories.

db

db,

you have aroused my curiosity here; how is the Raid series a toe stubber?

Leland R. Erickson
Metal Express
metal-express.net

While I didn't necessarily think either Raid or Command were inherently flawed bad choice of titles resulted in poor sales and in the years I talked to the editors about both series there was constant hand wringing over both, which always seems about to be discontinued and Osprey was unwilling to commit to future titles.

In the case of Raid, I told them a big attraction would be to select topics that lent themselves to scenarios that wargamers could use…skirmish or otherwise. I think they have some hits and misses as far as that goes.

With regard to Command my advice was to not focus on the top of the food chain, Eisenhower or Montgomery, but commission titles on second and third tier commanders who, while not having the same name recognition, had interesting stories to tell that most readers were unaware of.

db

It's one way of eliminating the competition

Yes, if the acquired business competes directly and doesn't complement the acquirer's product range.