Indiana Pacers Owner Buys Kirkus

Posted on February 11, 2010

Kirkus Reviews got rescued by a white knight from the NBA. The New York Times reports that Herb Simon, the owner of the Indiana Pacers, purchased Kirkus because he loves to read. The sale caught most of the literary world by surprise. Mr. Simon is chairman emeritus of shopping mall developer Simon Property Group and also co-owns an independent bookstore in Montecito, California. He will create a new company called Kirkus Media, which will be run by Marc Winkelman.

In a telephone interview, Mr. Winkelman, who co-owns Tecolote Books with Mr. Simon, said that the company would retain its current editorial leadership, with Elaine Szewczyk as editor and Eric Liebetrau as managing editor.
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.

Simon said in a statement, "With the growth of e-books and e-reading devices, no one can really see the future of publishing. But turmoil like this creates opportunities. At a time when even the definition of a book is changing, my love of books makes me want to be part of the solution for the book publishing industry."

Mr. Winkelman, who used to work at Barnes & Noble, says that Kirkus will remain a print magazine, but it will also be expanding its presence online. It's a strange -- but happy -- ending for the Kirkus employees.