BLOOMSBURY PUB.

Bloomsbury has announced a five-year succession plan: founder Nigel Newton will move from chief executive to the role of executive chairman with immediate effect. A new chief executive is to be appointed within two years, overseen by John Bason as deputy chairman and chair of the nomination committee. After the appointment, Newton will remain executive chairman for three years and in 2031 will become non-executive chairman; the board will remain majority independent. » More on de.investing.com

Bloomsbury is a beneficiary of a $1.5bn settlement between Anthropic and thousands of authors, with 14,087 Bloomsbury titles listed and a proposed payment of about $3,000 per title. After roughly 10% deductions for legal fees and expenses, Bloomsbury and the affected authors can each expect about $19m, to be paid in instalments possibly starting in the second half of this fiscal year. The settlement covers about 482,000 works and has been claimed for more than 91% of those covered. » More on theguardian.com

Bloomsbury Publishing will receive compensation of $1.5 billion from a settlement with Anthropic. A U.S. court identified 14,087 of the publisher’s titles as affected; the proposed payment equals roughly $3,000 per title. The sum is to be split equally between authors and publishers, and a federal judge has approved the class action. » More on de.investing.com