Today a group of investors led by Kohlberg & Company acquired a majority of Christian publisher Thomas Nelson’s stock–a move that will resolve most of the publisher’s long term debt.
The publisher also announced some changes in the board of directors, adding Open Road CEO Jane Friedman and “senior executives of Kohlberg & Company” to the board. In addition, Thomas Nelson CEO Michael Hyatt has been named chairman of the board of directors.
Kohlberg & Company partner Chris Anderson had this statement: “Thomas Nelson remains the clear leader in the Christian publishing world and is poised for growth in this new era. Mike and his team have done an excellent job managing the company through the challenges of the recession and we stand behind them as we enter the future.”