Full news story on Houghton Mifflin Hracourt files for bankruptcy.
Houghton Mifflin Hracourt files for bankruptcy
May 21 2012
In an official statement earlier today, Houghton Mifflin Harcourt announced that it had "filed a 'pre-packaged' comprehensive financial restructuring plan that will strengthen the Company financially so we can continue to invest in our business and ensure we are well positioned for the future. This plan, which is supported by the vast majority of our key financial stakeholders, will eliminate $3.1 billion of debt through a debt to equity transaction, and reduce our annual cash interest costs."
U.S. ebook sales up in 2012, but rate of growth is slowing(May 16 2013) In 2012, trade book sales (i.e. non academic book sales) rose 6.9%, to $15.049 billion, and e-book sales continued to grow, although the rate of growth...