Japanese Pub Takes Majority Stake in Hachette's Yen Press
Kadokawa, a major Japanese publisher of manga, prose and digital content, has taken a majority stake in Yen Press, the Hachette Book Group’s manga and graphic novel imprint. Kodakawa plans to turn the imprint into Yen Press LLC, a joint venture between HBG and Kadokawa.
Kakokawa has taken a 51% stake in Yen Press LLC, leaving HBG with 49% of the joint venture. The transaction is expected to be completed by the end of April. Yen Press cofounder and publishing director Kurt Hassler has been named managing director and publisher of the newly conceived joint venture.