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Recession Shreds Publishing Industry; Is Literature Next?

Until outfits learn to cope with digital challenges, it'll be a tough go for writers

By Harry Kimball,  Newser Staff

Posted Dec 23, 2008 4:04 PM CST

(Newser) – The publishing industry has been battered in the past month, as large houses hemorrhage editors and consolidate divisions, leading some to wonder if literary publishing will ever be the same, Jason Boog writes on Salon. The list of ills is long: too-high advances paid to a dwindling number of sure bets; corporate ownership hit hard by the economic crisis; a steep drop in sales.

The answer, Boog writes, may be small houses with enlightened business models and the nascent electronic book industry. According to one publisher, the recession “will open up opportunities for the smaller, more stable presses.” And much depends on what the laid-off workers do with themselves. Perhaps, Boog writes, they can “channel all of this collective anger, bewilderment and fear into industry-altering strategies.”

An Amazon.com team member scans book titles at their Fernley, Nev., warehouse.
An Amazon.com team member scans book titles at their Fernley, Nev., warehouse.   (AP Photo)
The Kindle device.
The Kindle device.   (AP Photo)
A Barnes & Noble bookstore in Burlington, Mass.
A Barnes & Noble bookstore in Burlington, Mass.   (AP Photo)
A Borders store in Harrisburg, Pa.
A Borders store in Harrisburg, Pa.   (AP Photo)
A woman flips through an antique book during the International Antiquarian Book Fair in Madrid.
A woman flips through an antique book during the International Antiquarian Book Fair in Madrid.   (AP Photo)
Powell's Bookstore in downtown Portland, Ore.
Powell's Bookstore in downtown Portland, Ore.   (AP Photo)
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If the last 5 or 10 years have shown us anything, it's this: content will get out. With social networking and blogs, if you have something to say, it will get heard. - Neelan Choksi, COO of Lexcycle,
creator of an e-reader platform

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