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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Perseus’ offer in total was approximately $20 million, Steinberger says.
As part of the deal, the publishers agreed to extend their existing contracts for four years.
With its acquisition of Client Distribution Service (CDS) in April 2005, Perseus, once an imprint of HarperCollins, gained its own distribution capabilities. The acquisition also gave the company a relationship with independent publishers who were clients of CDS. In August 2006, Perseus acquired another independent distributor, Consortium Book Sales and Distribution.
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Peter Beisser
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