Hedge Funds & Publishing Houses

In the wake of the mess known as Houghton Mifflin Harcourt, another big conglomerate publisher owned by a hedge fund, Perseus Books (which includes Basic Books, Da Capo, PublicAffairs, Running Press, Vanguard Press, and others), which also owns Perseus Distribution, (which in turn owns 80 percent of the country’s indendent press distribution, including Consortium and PGW), has announced some austerity measures, albeit with more restraint shown than in the HMH disaster. [more...]

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