Big guys lose their minds
A new irrational exuberance has hit book publishing
Things have been good in corporate book publishing for the last year. Really good. Unprecedentedly good. Sales are up in the range of 10 to 20 percent at the big publishers—Penguin Random House, HarperCollins, Hachette, Simon & Schuster, Macmillan—and profits are even higher. Bonuses, too, are up. Everyone is giddy.
HarperCollins CEO Brian Murray gave a…
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