March 2, 2007
Many independent U.S. book publishers breathed a sigh of relief earlier this month after a Delaware bankruptcy court ruled in favor of Perseus Books Group taking control of the distribution contracts for more than 120 clients of the now-defunct Publishers Group West (PGW). The New York-based Perseus Books Group offered to pay 70 cents for every dollar of pre-bankruptcy claims owed to publishers who were distributed under PGW, a Berkely, Cal.-based division of Advanced Marketing Services (AMS). The bid was approved by Judge Christopher Sontchi on Feb. 19. Perseus President and CEO David Steinberger says the company began shipping books for the former PGW clients on
