Bill Reeves is the new chief executive officer (CEO) of David C. Cook, the Christian book publisher and music company based in Colorado Springs.
From 2019 until March of this year, Reeves was CEO of Educational Media Foundation (EMF), which owns and operates the nation’s two largest Christian radio networks, K-Love and Air1. Under his leadership, the network grew, and he began a relocation of the ministry’s headquarters from Rocklin, California, to Nashville, the Christian music capital of the country. But his tenure there was short, and his departure surprised many in the Christian radio business.
About Reeves’ departure, board chair Donna Ecton said in a statement, “The Board of Directors and the Ministry Leadership Team would like to thank Bill for his work and contributions to EMF’s mission. We appreciate his years of service to the Christian media industry. We wish him well in his future endeavors.”
EMF did not reply to multiple inquiries by MinistryWatch about the reasons and circumstances around Reeves’ departure. A spokesperson for David C. Cook said, “Bill and his wife took some time off to enjoy their grandkids and sought the Lord about what He had for them next—which, as we now know, is David C Cook/Integrity Music!”
Reeves arrives at David C. Cook at a time of challenges and successes for the publisher and music producer. Its music division, Integrity Music, just celebrated three wins at the 54th GMA Dove Awards. The book publishing division regularly puts books on national best-seller lists.
But the organization itself has been in steady financial decline for more than a decade, and it has already stumbled at several attempts to reinvent itself.
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The once storied publisher of curriculum materials started in 1875, and when it moved to Colorado Springs in 1995, it had accumulated more than $100 million in assets. The organization rebranded itself as Cook Communications Group and executed a series of acquisitions and new business ventures, but few of them lived up to expectations. Throughout the early 2000s it saw its revenue shrink and its assets deteriorate.
According to the organization’s Form 990s, from 2005 to 2018, losses exceeded $35 million. The organization no longer releases its Form 990s to the public, but it is a member of the Evangelical Council for Financial Accountability (ECFA), and limited financials are on the ECFA website. They show 2022 revenue of about $55 million, but an operating loss of $8.9 million. That loss was funded by further depleting the assets the organization has accumulated over nearly a century and a half. Assets have now fallen below $40 million.
But Reeves may have the background to turn the troubled organization around. He has significant experience in music, books and movies. According to a statement released by David C. Cook, Reeves’ “passion and talent are evidenced by his storied career: more than 20 gold and platinum records in the music industry, an agent for many bestselling books and executive producer of more than two dozen films and home entertainment titles, placing many in the top 10 opening weekend at the box office.
“As CEO of David C Cook and Integrity Music, Reeves will continue to innovate products, platforms and strategies to meet spiritual needs and deliver creative content in a way that draws hearts closer to God.”