PUBLISHING: The Scholarly Dollar

The U.S. book publishing industry., traditionally a tight little shelf of tweedy pipe-smokers for whom Wall Street was a subway stop and profits a slight source of bemusement, today fairly bustles with talk of mergers, stock splits and diversification. The reason: the boom in textbooks for the burgeoning U.S. school population, which is lifting many a once staid, privately owned publishing house into the heady world of big business. Last week two large, old-line publishers announced mergers aimed at increasing their share of the new textbook market.

¶ Harcourt, Brace & Co.,...

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