David Steinberger Explained

David Steinberger is an American businessman, publishing executive, current Chairman of the National Book Foundation, and Executive Chairman of Open Road Integrated Media Inc. His career has involved the acquisition, management and sale of a number of publishers and publishing-related companies as well as the application of digital technologies to publishing companies. He previously was CEO of Arcadia Publishing and CEO of the Perseus Books Group, following leadership roles at HarperCollins. In January 2021 he announced a succession plan at Arcadia, handing over day-to-day management to a successor and moving to Arcadia's board of directors.[1] In December 2021, Steinberger led an investor group in the acquisition of Open Road Integrated Media inc., which utilizes data science technology to market eBooks, with Steinberger being named Executive Chairman, along with the role of CEO to be added in January 2022.[2]

Early life and education

Steinberger was born in New York, attended High School in Tenafly N.J. He graduated from Columbia University's School of Engineering and earned an MBA from the Wharton School.[3]

Early career

Steinberger's career began in New York City government where he rose to become Deputy Transportation Commissioner for Bridges.[4] According to the New York Times, Steinberger's willingness to speak openly about public safety concerns contributed to his departure from the position in 1991.[5] After City Government, Steinberger joined management consultancy Booz Allen Hamilton. Steinberger wrote an opinion piece, published in The New York Times, about how to manage New York City government, entitled “Governing New York: Simplify, Simplify.”[6]

Publishing career

In 1996 Steinberger left Booz Allen Hamilton to join the publishing industry as President of the Adult Trade Group at HarperCollins Publishers, a Division of NewsCorp.[7] Steinberger became CEO of Perseus Books Group in 2004.[8] After Steinberger completed a series of acquisitions,[9] [10] [11] Perseus Books was named Publisher of the Year in 2007 by Publishers Weekly which described the company as "arguably the most important independent publishing company in the nation."[12] Perseus Books launched digital initiatives which the New York Times described as providing "hundreds of small publishers easier access to digital book technology"[13] [14] [15] [16] [17] Books published by Perseus included Friday Night Lights by Buzz Bissinger,[18] as well as books by chess champion Garry Kasparov,[19] Nobel Physics Prize-winner Richard Feynman,[20] and Nobel Peace Prize winner Leymah Gbowee.[21] Steinberger sold Perseus Books in 2016 in 2 simultaneous transactions, to Hachette Books Group and Ingram Content Group,[22] [23] [24] after an earlier attempt at an exit transaction fell through.[25] [26]

In 2018, Steinberger and lead investor Michael Lynton, chairman of Snap Inc., assembled an investor group to acquire independent publishing businesses, starting with Arcadia Publishing where Steinberger became CEO. The investor group includes Len Blavatnik,[27] Tony Ressler and Walter Isaacson.[28] Arcadia, noted for its unique approach to publishing hyper-local titles[29] subsequently acquired Pelican Publishing,[30] Wildsam[31] and River Road Press.[32] In 2021 Steinberger announced a leadership succession plan at Arcadia, turning over day-to-day management to a successor and moving to Arcadia's board of directors.

Steinberger is chairman of the National Book Foundation, presenter of the National Book Awards.[33] During his tenure, the National Book Foundation in 2016 appointed Lisa Lucas as executive director, the first Black person and the first woman in that role[34] and launched Book Rich Environments, described by the LA Times as turning "book deserts into literary oases."[35] Steinberger is also a board member of the Fund for the City of New York.[36]

In December 2021, Steinberger led an investor group in the acquisition of Open Road Integrated Media inc., which utilizes data science technology to market eBooks, with Steinberger being named Executive Chairman, along with the role of CEO to be added in January 2022.[37]

In May 2023, Open Road launched Re-Discovery Lit, an imprint to publish books that had gone out of print or otherwise been reverted by publishers back to authors.[38] According to the New York Times, Re-Discovery Lit utilizes Open Road’s “machine learning technology” to find readers for these republished works, which include books by authors such as Barbara Delinsky and Roger Angell.[39]

Personal life

Steinberger is married to Dara Caponigro,[40] the creative director at F. Schumacher & Co., and former Editor-in-Chief at Veranda, Decoration Director at House Beautiful and Style Director at Domino.[41]

Notes and References

  1. News: Steinberger. David. 26 January 2021. Steinberger Steps Down, Phillips up as Arcadia CEO. Publishers Weekly.
  2. News: Trachtenberg. Jeffrey A.. 2021-12-02. WSJ News Exclusive David Steinberger-Led Group Buys Ebook Publisher Open Road. en-US. Wall Street Journal. 2021-12-05. 0099-9660.
  3. Web site: Helping the Independent Publisher. 2020-09-09. The Wharton Club of New York Magazine. en-US.
  4. News: Fried. Joseph P.. 2003-05-25. Following Up. en-US. The New York Times. 2020-09-09. 0362-4331.
  5. News: 1991-01-14. Opinion The Bridge Time Bomb Remains. en-US. The New York Times. 2020-09-09. 0362-4331.
  6. News: Steinberger . David . January 18, 1992 . Governing New York: Simplify, SImplify . January 12, 2024 . The New York Times.
  7. News: Pogrebin. Robin. 1996-12-31. HarperCollins Trade Unit Head Resigns in 'a Mutual Decision'. en-US. The New York Times. 2020-09-09. 0362-4331.
  8. News: Jeffrey A.. Trachtenberg. 2004-10-25. Buy ... and Buy Again. en-US. Wall Street Journal. 2020-09-09. 0099-9660.
  9. News: Rich. Motoko. 2006-08-01. Book Publisher Perseus Acquires Service Provider. en-US. The New York Times. 2020-09-09. 0362-4331.
  10. News: Trachtenberg. Jeffrey A.. 2007-01-22. Small Publishers Look to Happy Ending. en-US. Wall Street Journal. 2020-09-09. 0099-9660.
  11. Web site: Small publisher enters big leagues. 2020-09-09. connection.ebscohost.com.
  12. Web site: Publisher of the Year. 2020-09-09. PublishersWeekly.com. en.
  13. News: Bosman. Julie. 2008-09-03. Small Book Publishers Offered New Technology. en-US. The New York Times. 2020-09-09. 0362-4331.
  14. News: Trachtenberg. Jeffrey A.. 2011-09-06. Perseus Forms Digital-Services Venture in U.K.. en-US. Wall Street Journal. 2020-09-09. 0099-9660.
  15. News: Bosman. Julie. 2011-10-02. New Service for Authors Seeking to Self-Publish E-Books. en-US. The New York Times. 2020-09-09. 0362-4331.
  16. Web site: 2013-04-14. Book marketing's next chapter. 2020-09-09. Crain's New York Business. en.
  17. News: Alter. Alexandra. 2015-01-05. When Mark Zuckerberg Likes a Book, Sales Soar. en-US. The New York Times. 2020-09-09. 0362-4331.
  18. News: Jeffrey A.. Trachtenberg. 2004-10-14. 'Friday Night Lights' Is Publisher's Big Game. en-US. Wall Street Journal. 2020-09-09. 0099-9660.
  19. News: Lozada. Carlos. Garry Kasparov on his next book — and why Putin is like Tywin Lannister. en-US. Washington Post. 2020-09-09. 0190-8286.
  20. News: Wyatt. Edward. 2005-04-07. The Scientist Is Gone, but Not His Book Tour. en-US. The New York Times. 2020-09-09. 0362-4331.
  21. News: Bosman. Julie. 2011-09-16. Unusual Benefactor Finances Book Tour. en-US. The New York Times. 2020-09-09. 0362-4331.
  22. News: Trachtenberg. Jeffrey A.. 2015-09-09. Perseus Books Hires Greenhill to Advise on Possible Sale. en-US. Wall Street Journal. 2020-09-09. 0099-9660.
  23. News: Alter. Alexandra. 2016-03-01. Hachette Reaches New Deal With Perseus Books. en-US. The New York Times. 2020-09-09. 0362-4331.
  24. News: Trachtenberg. Jeffrey A.. 2016-03-03. Perseus Books Agrees to Sell Distribution Business to Ingram. en-US. Wall Street Journal. 2020-09-09. 0099-9660.
  25. News: Kaufman. Leslie. 2014-06-24. Hachette Adds Heft to Combat Amazon. en-US. The New York Times. 2020-09-09. 0362-4331.
  26. News: Alter. Alexandra. 2014-08-07. Publisher Hachette's 3-Way Deal to Acquire Perseus Fails. en-US. The New York Times. 2020-09-09. 0362-4331.
  27. News: Trachtenberg. Jeffrey A.. 2018-05-02. Signs of Life in Book Publishing Draw Big Investors to Startup. en-US. Wall Street Journal. 2020-09-09. 0099-9660.
  28. News: Charles. Ron. In the age of distraction, one small publisher keeps local history alive in sepia tones. en-US. Washington Post. 2020-09-09. 0190-8286.
  29. News: Rooney. Kathleen. 2019-07-23. Letter of Recommendation: Arcadia Publishing. en-US. The New York Times. 2020-09-09. 0362-4331.
  30. Web site: Arcadia Will Buy Pelican Publishing. 2020-09-09. PublishersWeekly.com. en.
  31. Web site: 2019-08-28. Move over Google. Travel publishers are teaming up for grittier city intel. 2020-09-09. Los Angeles Times. en-US.
  32. News: . River Road Press sold to South Carolina firm and combining its catalog with Pelican Publishing. en. NOLA.com. 2020-09-09.
  33. News: Kaufman. Leslie. 2012-11-11. Book Awards Seek a Bigger Splash, Red Carpet and All. en-US. The New York Times. 2020-09-09. 0362-4331.
  34. Web site: Williams. John. 2016-02-10. Lisa Lucas Named Executive Director of National Book Foundation. 2020-09-09. ArtsBeat. en-US.
  35. Web site: 2017-01-05. A nationwide effort launches to turn 'book deserts' into literary oases. 2020-09-09. Los Angeles Times. en-US.
  36. Web site: [FCNY] Board Of Directors]. 2020-09-09. www.fcny.org.
  37. Web site: Investment Group Led by David Steinberger Buys Open Road. 2021-12-06. PublishersWeekly.com. en.
  38. Web site: Open Road Starts Imprint for Out-of-Print Books . 2023-06-06 . PublishersWeekly.com . en.
  39. News: Harris . Elizabeth A. . 2023-05-24 . Decades Old? No Problem: Publisher Makes a Bet on Aging Books . en-US . The New York Times . 2023-06-06 . 0362-4331.
  40. News: 1992-02-16. Dara Caponigro, Editor, Is Married. en-US. The New York Times. 2020-09-09. 0362-4331.
  41. Web site: Schumacher's Creative Director Dara Caponigro Finds Professional and Personal Style Inspiration in the Past. 2020-09-09. Martha Stewart. EN.

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