Get LISNews via email! Enter Your Email Address:
In a three-way deal that would continue a wave of consolidation in the publishing industry, Hachette Book Group has purchased the publishing division of the Perseus Book Group, while selling Perseus' client-service business to leading distributor Ingram Content Group.
Hachette, where authors include James Patterson, J.K. Rowling and Malcolm Gladwell, jointly announced the transaction Tuesday with Perseus and Ingram. The news comes at a time when Hachette is in contentious negotiations with Amazon.com, which has slowed shipments, reduced discounts and removed pre-order buttons for numerous Hachette releases.