Current news stories from the independent book industry
Penguin Random House Sells Author Solutions
Penguin Random House is no longer in the self-publishing business. From Publisher’s Weekly:
[…]Penguin Random House has sold its Author Solutions division to an affiliate of the Najafi Companies, a private investment firm that at one point owned Bookspan and made an offer to buy several hundred Borders outlets after the chain filed for Chapter 11. Terms of the deal, which closed December 31, were not disclosed.
In a brief letter to employees, PRH CEO Markus Dohle said with the sale of Author Solutions, a leader in supported self-publishing services, that “we reaffirm our focus on consumer book publishing