BloggingStocks http://www.bloggingstocks.com BloggingStocks http://www.blogsmithmedia.com/http://www.bloggingstocks.com/media/feedlogo.gif BloggingStocks http://www.bloggingstocks.com en-us Copyright 2012 Weblogs, Inc. The contents of this feed are available for non-commercial use only. Blogsmith http://www.blogsmith.com/<![CDATA[Houghton Mifflin to stop publishing new books]]>http://www.bloggingstocks.com/2008/11/25/houghton-mifflin-to-stop-publishing-new-books/http://www.bloggingstocks.com/2008/11/25/houghton-mifflin-to-stop-publishing-new-books/http://www.bloggingstocks.com/2008/11/25/houghton-mifflin-to-stop-publishing-new-books/#commentsFiled under:

Publishing powerhouse Houghton Mifflin Harcourt has announced that it will not be acquiring new books until further notice. Houghton's textbook arm will not be affected by the move, but the 400 title per year trade and reference arm will be.

The publisher still has some new titles in the pipeline, so it's unclear how output will be affected in the short-term, and the company has declined to say how long the freeze will last. But if it goes for awhile, Philip Roth and Richard Dawkins could be on the lookout for new publishers. But The Wall Street Journal adds (subscription required) that "To be sure, 'freeze' is a murky term in business. If the next "War and Peace" appears at Houghton's doorstep, editors may persuade their superiors to buy it."

The company's strategy here appears to be to batten down the hatches and conserve cash while continuing to milk its classic franchises like The Lord of the Rings.

It's interesting to note that the company isn't cutting back on its textbooks. As I've written on WalletPOP, textbooks are outrageously overpriced and are updated far more frequently than they need to be in order to render used copies obsolete and force students to buy new books.

Houghton Mifflin to stop publishing new books originally appeared on BloggingStocks on Tue, 25 Nov 2008 17:05:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>HarcourtHoughton MifflinHoughtonMifflinTue, 25 Nov 2008 17:05:00 EST<![CDATA[Houghton Mifflin packs up Harcourt]]>http://www.bloggingstocks.com/2007/07/16/houghton-mifflin-packs-up-harcourt/http://www.bloggingstocks.com/2007/07/16/houghton-mifflin-packs-up-harcourt/http://www.bloggingstocks.com/2007/07/16/houghton-mifflin-packs-up-harcourt/#commentsFiled under:

Leading textbook publisher Houghton Mifflin has agreed to pay $4 billion for the Harcourt Education, Harcourt Trade and Greenwood-Heinemann divisions of Reed Elsevier. The deal creates a textbook powerhouse, as it combines two of the leaders in market-share into one entity. With textbook prices already spiraling out of control, this may not bode well for students. Less competition has a way of leading to higher prices.

But if Houghton Mifflin is in a buying mood, I have an idea for them: Scholastic Corporation (NASDAQ: SCHL), the world leader in children's books with its Harry Potter series leading the charge. Many readers probably have fond memories of the quarterly book orders, when the teacher walked into the room carrying a big red and white box, as our class cheered, eagerly awaiting the Boxcar Children or Baby Sitter's Club book our parents had ordered for us.

The acquisition of Scholastic would probably come with a lot of cost-cutting options, as the distribution channels are similar. Shares of Scholastic have been stagnant for a decade, and not even Harry Potter has been able to send the company to new highs. They probably ought to start considering strategic alternatives soon, and the company's solid profitability could make it an interesting target for a strategic buyer.

Houghton Mifflin packs up Harcourt originally appeared on BloggingStocks on Mon, 16 Jul 2007 17:31:00 EST. Please see our terms for use of feeds.

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