Houghton Mifflin Declares Bankruptcy

It is becoming more and more clear that the publishing industry is seeing a major shift from traditional publishing to POD publishing. Traditional book publishers are also facing pressure from the online availability of published material, including e-books. Houghton Mifflin declaring bankruptcy is one event that is illustrating this shift.

Houghton Mifflin is a textbook publisher who has been struggling for various reasons. This isn’t a tiny company who is suffering. With a history dating back to 1832, Houghton Mifflin’s products serve 60 million students in 120 countries. They also publish legendary classics such Curious George and Lord of the Rings.

Houghton Mifflin recently declared Chapter 11 bankruptcy to eliminate $3.1 billion in debt. The publisher plans to restructure the company in hopes to again become a profitable business.

Despite the struggles among traditional publishers, non-traditional publishers are thriving and that is great news for self-publishing authors.

ABOUT KELLY SCHUKNECHT: Kelly Schuknecht is the Vice President of Outskirts Press.  In addition to her contributions to the Outskirts Press blog at blog.outskirtspress.com, Kelly and a group of talented marketing experts offer book marketing services, support, and products to not only published Outskirts Press authors, but to all authors and professionals who are interested in marketing their books and/or careers. Learn more about Kelly on her blog at http://kellyschuknecht.com.

One thought on “Houghton Mifflin Declares Bankruptcy

  1. Perhaps a textbook company wouldn’t need to declare bankruptcy if it sold its books for reasonable prices. Have you been in a college book store lately? Even the cheapest textbooks are like $100. That just seems like insanity to me.

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