A Follow-up
By Jerry D. Simmons | November 22nd, 2006 | No Comments » (Click to add yours!)
I’m thrilled that Harper Collins and Regan Books decided to pull from their publishing list the shameful book that I wrote about last week–the title of which I refuse to mention, it is so offensive. It thrilled me even more to learn from some former colleagues who still work in the New York industry, that Judith Regan might lose her job over the fiasco. Not that I want anyone to lose their job but in this case I think she deserves it.
However, rumor on the streets of New York is that other publishers are considering the book for publication and one of the reasons is the amount of presales that some major booksellers received. Let me explain, the major retail bookstores that were anticipating huge demand for the book, in fact sold advanced copies before the actual pub or release date. Estimates are upwards of 60,000 copies although no one can confirm that number and the booksellers are not talking.
With those kinds of numbers, if they are true, it’s no wonder other publishers are considering the book for their list. Fact is, any future arrangements will most likely be a co-published venture with Harper Collins, without their name attached to the cover. That is the only way they can hope to recoup any of the advances. What this means is that Harper Collins owns the rights but at this time has decided not to publish under their own imprint. They in turn, with the agent, will approach other publishers who might have interest in earning some easy money. The new publisher would publish under its own imprint, but behind the scenes Harper Collins would share in the profits. That way they earn some blood money on this so-called book.
Sad but in the end it all boils down to dollars, and the retail bookstore chains are as much to blame as anyone. They don’t want to refund money to their customers. Welcome to the world of big time publishing.
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