4 ms·
The PE firm that owns Libby/Overdrive (Kolhberg Kravis Roberts) has been consolidating publishing assets since the 90s, and recently (2023) acquired the Big Fiv
by grepLeigh 2y ago
The PE firm that owns Libby/Overdrive (Kolhberg Kravis Roberts) has been consolidating publishing assets since the 90s, and recently (2023) acquired the Big Five publisher Simon & Schuster.
We need to protect our regional library systems from extractive PE firms. Libraries (even those in large metro areas) have very little negotiating leverage against global conglomos like KKR.
- leotravis10 2y agoSadly, it may already be too late. https://buttondown.email/ninelives/archive/the-coming-enshittification-of-public-libraries/ https://buttondown.email/ninelives/archive/the-coming-enshit... Nearly 90-95% of library e-book systems are controlled by KKR-owned Libby/Overdrive.
- lotsofpulp 2y agoFYI, KKR is a publicly listed company. Anyone can buy shares. https://www.google.com/finance/quote/KKR:NYSE https://www.google.com/finance/quote/KKR:NYSE The funny thing is all the governments that are spending more money on libraries due to higher ebook prices also own shares in KKR via the taxpayer funded defined benefit pension plans for government employees.
- deleted 2y ago[deleted]