A New Home For Independent Publishers
Perseus’ David Steinberger on its acquisition of PGW’s roster of publishers and what lies ahead. Perseus Books establishes contracts with bankrupt PGW’s consenting publishers.
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A bidding battle between Perseus and Rowman & Littlefield Publishing Group’s National Book Network began after AMS declared Chapter 11. Although National Book Network was offering to pay 85 cents on the dollar, AMS and its creditor committee publicly supported Perseus’ offer.
“We were really gratified with the response publishers gave us,” he says. “What many publishers said to us was, ‘The most important decision here is who is my long-term distribution partner. Who’s going to best represent my books and authors? That’s more important to me than getting an extra 15 cents on the dollar.’”
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Peter Beisser
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