The problem with family-owned businesses is that when the members start fighting, things turn ugly fast. And so it goes with the Blackwell family and the ten members of it who control the 126-year-old company that is the UK’s largest academic publisher — who are so caught up in their feud that said publishing arm may be sacrificed to the tune of £300m.
According to the Evening Standard, the feud’s main combatants are 76-year-old Toby Blackwell, who in 2002 tried to force a sale after rival publisher Taylor & Francis tabled a £300m bid. But his 58-year-old nephew Nigel, the company’s chairman, opposed the plan and the firm stayed in the family.
Though no one’s commenting on the proceedings, will Toby get his wish or will Nigel win the day again? Truly, nothing invites more drama than a family feud, though I doubt these guys will be on any game shows soon…