Houghton Mifflin Harcourt Freezes Acquisitions
From the Washington Post this morning and as reported Monday on the Publishers Weekly Web site, the publisher has told its editors to stop acquiring books.
Several sources site this move as the first time a publisher has decided to freeze acquisitions. Books in the pipeline will continue, but anything new? It’s temporarily off the table.
Houghton Miflin Harcourt isn’t big into romance, but does have a YA division, so the move won’t immediately affect romance.
Romance publishers generally keep sales a Big Secret, seldom even sharing stats with authors (not to even mention that nobody knows anything about Wal-Mart), but Industry reports are that romance sales are not as robust right now as they have been in years past.
Which wouldn’t be a big surprise since sales of everything are down.
Gee, Happy Thanksgiving everyone!
-Sandy AAR
Interesting, Anne. PW does tend to be careful about what they report, so perhaps HMF is having after the fact publicity concerns. I was heartened by the reports that Lynn found about Hatchette, so perhaps things aren’t as dire as they first looked.
Fingers crossed, anyway!
According to the Associated Press, Harcourt is disputing the freeze:
http://www.google.com/hostednews/ap/article/ALeqM5hhcl8cA0KAsICY9fSBh_PQt8YPFQD94MRVSG0
or
http://tinyurl.com/5w7ryj
Instead, they have what they call a “”freeze lite.”” They’re still acquiring some kinds of books but being cautious in other areas. Sounds like consumer shopping habits these days. :) There are also quotes from Otto Penzler, who edits one of their imprints (I *heart* his mystery reviews).