Kirkus Sold to Pacers Owner. Really.

Kirkus Reviews, like fellow Nielsen victim Editor & Publisher, has found an unlikely savior: Indiana Pacers owner and shopping mall developer Herb Simon.

The Times reported last night that Simon had purchased the book review journal—which was set to close in December—for an undisclosed sum. The Times also says that the new leadership might not be as surprising as it initially appears:

Mr. Simon, who is co-owner of an independent bookstore in Montecito, Calif., has appointed Marc Winkelman, chief executive of Calendar Holdings, owner of several chains of seasonal retailers, to be chief executive of what will be re-named Kirkus Media. Mr. Winkelman is also taking a small stake in the company….

Mr. Winkelman said that Mr. Simon was “an inveterate and unquenchable and voracious reader” who was a longtime subscriber to Kirkus, which was founded in 1933. “The idea that Kirkus was leaving was a real shame for him,” Mr. Winkelman said.

The magazine’s top editors (Elaine Szewczyk and Eric Liebetrau) will be sticking around, Simon told The Times.

 

Kirkus Sold to Pacers Owner. Really.