93-614: Houghton Mifflin Harcourt Company ( / ˈ h oʊ t ən / HOH -tən ; HMH ) is an American publisher of textbooks , instructional technology materials, assessments, and reference works . The company is based in the Boston Financial District . It was formerly known as Houghton Mifflin Company , but it changed its name following the 2007 acquisition of Harcourt Publishing . Prior to March 2010, it
186-555: A 45% equity stake. As a result, the royal family of Dubai via their Istithmar World Capital investment vehicle became major stakeholders. Estimates were that EMPG would cut its debt from $ 7.3bn to $ 6.1bn. On August 15, 2009, the Financial Times reported in an interview with Houghton Mifflin Harcourt's CEO at the time, Barry O'Callaghan, that the refinancing had received approval of more than 90% of lenders. The terms included
279-408: A book on random numbers. A Million Random Digits with 100,000 Normal Deviates by RAND Corporation. This book was a product of RAND's pioneering work in computing, as well a testament to the patience and persistence of researchers in the early days of RAND. The book was republished in 2001. This RAND edition reflects the original layout with the addition of a new foreword. Random numbers have been used in
372-565: A definitive agreement to acquire the Harcourt Education , Harcourt Trade, and Greenwood-Heinemann divisions of Reed Elsevier for $ 4 billion. The expanded company would become Houghton Mifflin Harcourt. McDougal Littell was merged with Harcourt's Holt, Rinehart & Winston to form Holt McDougal . In October 2007, Houghton Mifflin sold Kingfisher to Macmillan Publishers . On December 3, 2007, Cengage Learning (formerly Thomson Learning) announced that it had agreed to acquire
465-405: A division of American mass media and publishing company News Corp , had reached a deal to buy HMH Books & Media for US$ 349 million. The sale includes HMH's trade publishing division and computer video game franchises such as Carmen Sandiego and The Oregon Trail . The deal would allow HMH to pay down its debt so it could further its digital-first strategy in educational publishing. The deal
558-759: A lucrative partnership with Lawson Valentine, Houghton, Mifflin and Company still had debt it had inherited from Ticknor and Fields, so it decided to add partners. In 1884, James D. Hurd, the son of Melancthon Hurd, became a partner. In 1888, three others became partners as well: James Murray Kay, Thurlow Weed Barnes, and Henry Oscar Houghton Jr. Shortly thereafter, the company established an Educational Department, and from 1891 to 1908, sales of educational materials increased by 500 percent. The firm incorporated in 1908, changing its name to Houghton Mifflin Company. Soon after 1916, Houghton Mifflin became involved in publishing standardized tests and testing materials, working closely with such test developers as E. F. Lindquist. By 1921,
651-540: A modern, large-scale industry disseminating all types of information. " Publisher " can refer to a publishing company, organization, or an individual who leads a publishing company, imprint , periodical , or newspaper. The publishing process covering most magazine , journal , and book publishers includes: (Different stages are applicable to different types of publishers) Newspapers or news websites are publications of current reports, articles , and features written by journalists . They are free, sometimes with
744-605: A new investment of $ 650 million of equity, the debt levels of the company were reduced by approximately 60% and the annual interest payments by over 75%. According to the Irish State Broadcaster, RTÉ , the old equity investors based in Ireland has lost all their investment. The Irish Independent reported that the old shareholders were denied a shareholders meeting to vote or discuss the restructuring. The former shareholders have been left with warrants over 5% of
837-677: A particular field and often push the boundaries established in these fields. They usually have peer review processes before publishing to test the validity and quality of the content. A magazine is a periodical published at regular intervals. It features creative layouts, photography, and illustrations that cover a particular subject or interest. Magazines are available in print or digital formats and can be purchased on apps or websites like Readly or accessed free of charge on apps or websites like Issuu . The global book publishing industry consists of books categorized as fiction or non-fiction and print , e-book , or audiobook . The book market
930-407: A partner in 1843. Fields and Ticknor gradually gathered an impressive list of writers, including Ralph Waldo Emerson , Nathaniel Hawthorne , and Henry David Thoreau . The duo formed a close relationship with Riverside Press, a Boston printing company owned by Henry Oscar Houghton . Houghton also founded his own publishing company with partner Melancthon Hurd in 1864, with George H. Mifflin joining
1023-554: A physical address in the Chicagoland area after a round of layoffs following a merger with Safety Direct. The Irvine, California , facilities from the acquisition of Thomas Bros. Maps in 1997 closed in 2010. Rand McNally sold its Canadian subsidiary, located in Markham, Ontario , on June 30, 2008 to the newly formed Canadian Cartographics Corporation . William Rand founded his print shop in 1856 and Rand, McNally & Co.
SECTION 10
#17327729113861116-400: A premium edition, or paid for, either individually or through a subscription . They are filled with photographs or other media and usually are subsidized with advertising . Typically, they cover local , national, and international news or feature a particular industry. Some organizations charge premium fees if they have the expertise and exclusive knowledge. The news industry is meant to serve
1209-580: A printing shop in Chicago and two years later hired a newly arrived Irish immigrant, Andrew McNally , to work in his shop. The shop did big business with the forerunner of the Chicago Tribune , and in 1859 Rand and McNally were hired to run the Tribune ' s entire printing operation. In 1868, the two men, along with Rand's nephew George Amos Poole , established Rand McNally & Co. and bought
1302-654: A publicly traded company on the New York Stock Exchange under the stock symbol HTN . In 1979, Houghton Mifflin acquired the complete catalog of Parnassus Press , a Berkeley, California small press, established in 1957 by Herman Schein, the husband of writer-illustrator Ruth Robbins. Works by authors included: Ursula K. Le Guin , Theodora Kroeber , Nicolas Sidjakov , Edward Ormondroyd , Charlotte Zolotow , Anne B. Fisher , Allen Say , Beverly Cleary , Crawford Kilian , Adrien Stoutenburg , and Sam DeWitt . In 1979, Houghton Mifflin acquired Clarion Books,
1395-506: A publisher of cooking, garden, and craft titles. In 1996, HMH created their Great Source Education Group to combine the supplemental material product lines of their School Division, McDougal Littell, and Heath. In 1998, HMH announced a sub-brand called LOGAL Software, which was to release a new line of interactive science software called Science Gateways , to support the United States curriculum. As of 2017, Houghton Mifflin Harcourt
1488-412: A reduction in the senior debt to $ 3 billion from the current $ 5 billion, with new equity issued to the senior debt holders (including Paulson & Co. and Guggenheim Partners ), conversion of the $ 2 billion mezzanine debt into equity and warrant, receipt of $ 650m of new cash from the sale of new equity. In addition to the key highlights, HMH announced its new $ 100m Innovation Fund, to invest in
1581-403: A registered ISBN to identify it. Directories contain searchable indexed data about businesses, products, and services. They were printed in the past but are now mostly online. Directories are available as searchable lists, on a map, as a sector-specific portal , as a review site (expert or consumer), or as a comparison site . Although some businesses may not consider themselves publishers,
1674-434: A reported $ 500 million. Much of the purchase price was leveraged, meaning the company took on significant debt hedging on future earnings. AEA intended to capitalize on Rand McNally's brand recognition by bringing digital mapping to the masses and attracting public investors during the dot-com boom . However, the company fell behind the technology curve of upstarts such as MapQuest and fell further into debt. AEA's stake in
1767-435: A shop with a small margin (or none at all) compared to a website is very cost-effective because it acts as a huge billboard that offers a browsing experience that enables consumers to make purchasing decisions. It gives them a feel for the brand, has a presence in the community, and creates jobs. Also, using social media publishing to advertise has a good ROI if trending, high-quality content is created that reflects positively on
1860-695: A single franchise, e.g., Ballantine Del Rey LucasBooks has the exclusive rights to Star Wars in the United States; Random House UK (Bertelsmann)/Century LucasBooks holds the same rights in the United Kingdom. The video game industry self-publishes through BL Publishing/ Black Library ( Warhammer ) and Wizards of the Coast ( Dragonlance , Forgotten Realms , etc.). The BBC has its own publishing division that does very well with long-running series such as Doctor Who . These multimedia works are cross-marketed aggressively, and sales frequently outperform
1953-623: A subsidized income for publishers. If the advertising has a return on investment (ROI), the publisher can boost income exponentially by increasing the spending. An ROI of up to £10 per £1 invested is possible, as seen in the John Lewis & Partners Christmas campaigns . Likewise, any cost savings that harm the customer/consumer experience can impact a brand in the long term. Multichannel marketing can be more cost-effective in creating an immersive experience that cannot be replicated with one channel. For example, when considering marketing spend,
SECTION 20
#17327729113862046-459: A website, from which anyone can download and read it. An increasing number of authors are using niche marketing online to sell more books by engaging with their readers online. Refer to the ISO divisions of ICS 01.140.40 and 35.240.30 for further information. Publication is the distribution of copies or content to the public . The Berne Convention requires that this can only be done with
2139-621: Is a former publisher of the Wall Street Journal . On February 15, 2017, John J. "Jack" Lynch Jr., the former CEO of Renaissance Learning, was named the new CEO of HMH. Lynch brought former employee Jim O'Neill back to the company to lead the core division as GM and EVP. HMH is also formerly home to media brands like Carmen Sandiego and The Oregon Trail; and brands including The Whole30; The Best American Series ; The American Heritage and Webster's New World Dictionaries ; Better Homes and Gardens ; How to Cook Everything ;
2232-404: Is a modern term for publishing a book but printing so few copies or with such lack of marketing, advertising, or sales support that it effectively does not reach the public. The book, while nominally published, is almost impossible to obtain through normal channels such as bookshops, often cannot be ordered specially, and has a notable lack of support from its publisher, including refusal to reprint
2325-421: Is also undertaken by governments, civil society, and private companies for administrative or compliance requirements, business, research, advocacy, or public interest objectives. This can include annual reports , research reports , market research , policy briefings, and technical reports . Self-publishing has become very common. Publishing has evolved from a small, ancient form limited by law or religion to
2418-448: Is an academic publisher run by a university. Oxford University Press is the largest in the world and specializes in research, education, and English language teaching internationally. A catalog is a visual directory or list of a large range of products that allow you to browse and buy from a particular company. In print, this is usually in the format of a softback book or directory. Smaller visual catalogs can be known as brochures. With
2511-421: Is huge, with around 1.5 billion people speaking English. Translation services are also available to make these texts accessible in other languages. Self-publishing makes publishing widely accessible through small print-run digital printing or online self-publishing platforms. E-reader screen technology continues to improve with increased contrast and resolution making them more comfortable to read. Each book has
2604-632: Is offering the "Logal Science" brand as a licensing opportunity on its website. In 2017, it was announced that Houghton Mifflin Harcourt would be getting involved in TV production with a planned 2019 Netflix series that will revive the Carmen Sandiego franchise. Mergers and acquisitions (M&A) activities have had major effects on this company. In 2001, Houghton Mifflin was acquired by French media giant Vivendi Universal for $ 2.2 billion, including assumed debt. Vivendi Universal already owned
2697-491: The Harry Potter and James Bond franchises. The publishing landscape is continually evolving. Currently there are four major types of publishers in book publishing: These companies traditionally produce hardcopy books in large print runs. They have established networks which distribute those books to bricks-and-mortar stores and libraries. When a mainstream publisher accepts a book for publication, they require
2790-496: The Chicagoland area since its inception. Its 1899 headquarters on West Adams Street was the world's first all-steel-framed skyscraper. By the 1950s, its Chicago area workforce had grown to over 1,000 employees and larger facilities were needed. In 1952, it opened a new 283,008 sq ft (26,292 m ) building in suburban Skokie , bringing corporate offices, printing, and distribution operations under one roof. Over
2883-584: The Gulf Oil Company, to be freely distributed at its service stations. By 1930, Rand McNally had two major road map competitors, General Drafting and Gousha , the latter of which was founded by a former Rand McNally sales representative. The Rand McNally Auto Chum , later to become the ubiquitous Rand McNally Road Atlas , debuted in 1924. The first full-color edition was published in 1960 and in 1993, it became fully digitized. The Goode's School Atlas , named for its first editor, Dr. J. Paul Goode ,
Houghton Mifflin Harcourt - Misplaced Pages Continue
2976-518: The Peterson Field Guides ; CliffsNotes ; and many children's books, including the " Curious George " series and The Little Prince ; as well as publishing the works of J. R. R. Tolkien for United States distribution. Some other noted books include: Publisher Publishing is the activity of making information, literature, music, software, and other content available to the public for sale or free of charge. Traditionally,
3069-568: The Robinson projection , which became very popular and was used extensively for constructing maps of the entire world. Rand McNally began creating maps digitally in 1982. In 1980, Rand McNally sold its educational publishing operations to Houghton Mifflin . In 1989, Rand McNally donated its extensive collection of maps to the Newberry Library . Now in possession of Gousha's archives as well, Rand McNally donated that map archive to
3162-589: The development of books . The Chinese inventor Bi Sheng made a movable type of earthenware c. 1045 , but there are no known surviving examples of his work. The Korean civil servant Ch'oe Yun-ŭi , who lived during the Goryeo Dynasty, invented the first metal moveable type in 1234–1250 AD. In what is commonly regarded as an independent invention, Johannes Gutenberg developed movable type in Europe around 1450, along with innovations in casting
3255-630: The British children's publisher Kingfisher, which became a Houghton Mifflin imprint. In 2002, facing mounting financial and legal pressures, Vivendi sold Houghton to private equity investors Thomas H. Lee Partners , Bain Capital , and Blackstone Group for $ 1.66 billion, including assumed debt (approximately 25% less than Vivendi had paid a year earlier). On December 22, 2006, it was announced that Riverdeep PLC had completed its acquisition of Houghton Mifflin. The new joint enterprise would be called
3348-495: The Department of Justice, filing a permanent injunction on the merger. Although newspaper and magazine companies still often own printing presses and binderies, book publishers rarely do. Similarly, the trade usually sells the finished products through a distributor who stores and distributes the publisher's wares for a percentage fee or sells on a sale or return basis. Some major publishers have entire divisions devoted to
3441-860: The Houghton Mifflin Riverdeep Group. Riverdeep paid $ 1.75 billion in cash and assumed $ 1.61 billion in debt from the private investment firms Thomas H. Lee Partners, Bain Capital, and Blackstone Group. Tony Lucki, a former non-executive director of Riverdeep, remained in his position as the company's chief executive officer until April 2009. Houghton Mifflin sold its professional testing unit, Promissor, to Pearson plc in 2006. The company combined its remaining assessment products within Riverside Publishing, including San Francisco-based Edusoft . On July 16, 2007, Houghton Mifflin Riverdeep announced that it signed
3534-468: The Internet, they have evolved into searchable databases of products known under the term e-commerce . Interactive catalogs and brochures like IKEA and Avon allow customers to browse a full range if they have not decided on their purchase. Responsive web and app design will allow further integration between interactive catalog visuals and searchable product databases. Until recently, physical books were
3627-678: The Media Services Group, which employed 350 people with offices in Nashville, Tennessee; Fremont, California ; Shannon , Ireland; and the Asia-Pacific region, was sold to McQueen Ltd., a Scottish software company. The sole remaining group, publishing, represented the core mapmaking business of the company. In November 1997, the McNally family completed its divestiture by selling its majority ownership to AEA Investors for
3720-786: The Middle East and elsewhere. The Financial Times reported that no management changes were expected as part of the deal with both the CEO at the time, Barry O'Callaghan and the CFO, Michael Muldowney expected to remain in their roles. The Times reported that a new nine-member board was to be created with the CEO the only executive representative, one independent, two representative of Paulson & Co, and one director from each of Apollo, BlackRock, Guggenheim Partners, Fidelity and Avenue Capital. On March 10, 2010, Houghton Mifflin Harcourt announced that it had completed its re-capitalization. In addition to
3813-509: The Newberry in late 2002. With a string of acquisitions and growth throughout the 1980s and 1990s, Rand McNally employed over 4,000 people in four business groups. The company had been majority-owned by the McNally family since 1899, but by 1997 the family had decided to divest its interest. In late September 2018, Rand McNally moved its headquarters back to Chicago, after more than 60 years in suburban Skokie, Illinois. West Bryn Mawr Avenue
Houghton Mifflin Harcourt - Misplaced Pages Continue
3906-594: The Textbook department was established in 1894 with The Rand McNally Primary School Geography . Also in 1894, the company opened an office in New York City headed by Caleb S. Hammond, who later started his own map company, C. S. Hammond & Co. Rand McNally published its first road map , the New Automobile Road Map of New York City & Vicinity , in 1904. In 1910, the company acquired
3999-621: The Tribune's printing business. The company initially focused on printing tickets and timetables for Chicago's booming railroad industry, and the following year supplemented that business by publishing complete railroad guides. In 1870, the company expanded into printing business directories and an illustrated newspaper, the People's Weekly . According to company lore, during the Great Chicago Fire in 1871, Rand McNally quickly had two of
4092-612: The World Wide Web in 1989 soon propelled the website into a dominant publishing medium. Wikis and blogs soon developed, followed by online books , online newspapers , and online magazines . This also facilitated the technological convergence of commercial and self-published content and the convergence of publishing and production into online production through the development of multimedia content. A U.S.-based study in 2016 that surveyed 34 publishers found that straight, able-bodied, white females overwhelmingly represent
4185-496: The Writers' Guild of Great Britain (WGGB) have called for reform of the paid-for publishing sector. These unions, representing 14,800 authors, jointly published a report to expose widespread bad practices among companies that charge writers to publish their work while taking away their rights. When an author self-publishes a book, they retain all rights and assume responsibility for all stages of preparing, publishing and distributing
4278-498: The assets of the Houghton Mifflin College Division for $ 750 million, pending regulatory approval. On November 25, 2008, Houghton Mifflin Harcourt announced a temporary freeze on acquisition of new trade division titles, allegedly in response to the economic crisis of 2008 . The publisher of the trade division resigned, apparently in protest. Many observers familiar with the publishing industry saw
4371-632: The author must cover all the costs of publication, surrender some rights to the publisher, and pay royalties on sales. Vanity presses often engage in deceptive practices or offer costly, poor-quality services with limited recourse available to the writer. In the US, these practices have been cited by the Better Business Bureau as unfavorable reports by consumers. Given the bad reputation of vanity publishing, many vanity presses brand themselves as hybrid publishers. The Society of Authors (SoA) and
4464-633: The author to sign a contract surrendering some rights to the publisher. In exchange, the publisher will take care of all aspects of publishing the book at the publisher's cost. They rely entirely on sales of the book to recoup those costs and make a profit. The author receives a royalty on each sale (and sometimes an advance on royalties when the book is accepted ). Because of the financial risk , mainstream publishers are extremely selective in what they will publish, and reject most manuscripts submitted to them. In 2013, Penguin (owned by Pearson ) and Random House (owned by Bertelsmann ) merged, narrowing
4557-510: The average stand-alone published work, making them a focus of corporate interest. The advent of the Internet has provided an alternative mode of book distribution and most mainstream publishers also offer their books in ebook format. Preparing a book for e-book publication is the same as print publication, with only minor variations in the process to account for the different publishing mediums; E-book publication also eliminates some costs like
4650-614: The book. The author may hire professionals on a fee-for-service basis as needed, (e.g. an editor, cover designer, proofreader) or engage a company to provide an integrated package. Accessible publishing uses the digitization of books to mark them up into XML and produce multiple formats to sell to customers, often targeting those who experience difficulty reading. Formats include a variety of larger print sizes, specialized print formats for dyslexia , eye tracking problems, and macular degeneration , as well as Braille , DAISY , audiobooks , and e-books . Green publishing means adapting
4743-566: The brand. Film, television, radio, and advertisements publish information to their audiences. Computer games, streaming apps, and social media publish content in various ways that can keep audiences more engaged. Marketing additional products closely related to a major film, such as Star Wars , is an example of tie-in publishing. These products include but are not limited to spin-off books, graphic novels, soundtrack albums, computer games, models and toys, social media posts, and promotional publications. Examples of tie-in publishing based on books are
SECTION 50
#17327729113864836-477: The children's division of Seabury Press . In 1980, Houghton Mifflin acquired the educational publishing operations of Rand McNally . Under (new from 1991) president Nader F. Darehshori Houghton Mifflin acquired McDougal Littell in 1994, for $ 138 million, an educational publisher of secondary school materials, and the following year acquired D.C. Heath and Company , a publisher of supplemental educational resources. In 1995, HMH acquired Chapters Publishing,
4929-426: The company was acquired by Leonard Green & Partners through a prepackaged Chapter 11 restructuring deal on January 15, 2003. In December 2007, Patriarch Partners , which had previously been a minority owner, bought shares owned by Leonard Green and other minority owners to become the sole owner of Rand McNally. In 2020, Teleo Capital purchased Rand McNally as sole owner. Rand McNally had been headquartered in
5022-505: The company was the fourth-largest educational publisher in the United States. In 1961, Houghton Mifflin famously passed on Julia Child's Mastering the Art of French Cooking , giving it up to Alfred A. Knopf who published it in 1962. It became an overnight success, and is considered by many to be the bible of French cooking. Houghton Mifflin's strategic error was depicted in the 2009 film Julie & Julia . In 1967, Houghton Mifflin became
5115-561: The company's printing machines buried in a sandy beach of Lake Michigan , and the company was up and running again only a few days later. The first Rand McNally map, created using a new cost-saving wax engraving method, appeared in the December 1872 edition of its Railroad Guide . Rand McNally became an incorporated business in 1873; with Rand as its president, McNally as vice president, and George Poole as treasurer. The Business Atlas , containing maps and data pertinent to business planning,
5208-421: The company, claiming that the $ 21 per share offer was undervaluing the company. On April 6, 57% of $ HMHC shares were put up for tender, leading to the tender offer going through and HMH going private. Once the sale was completed, the stock of Houghton Mifflin Harcourt was delisted from Nasdaq. On September 22, 2016, Zecher resigned from HMH and was replaced by Interim CEO and Board Member L. Gordon Crovitz. Crovitz
5301-416: The company, in the case its value recovers to previous levels. On September 19, 2011, it was announced that Linda K. Zecher would be replacing Barry O'Callahan as chief executive officer and Director of Houghton Mifflin Harcourt after O'Callahan resigned. In July 2012, Zecher detailed her plans for post-bankruptcy to D.C. Denison at The Boston Globe. Zecher went to HMH from Microsoft. In 2012, HMH acquired
5394-460: The computer industry, NASA, probability tables,in the gaming industry and also used in algorithms for encryption. In statistics, a normal distribution or Gaussian distribution is a type of continuous probability distribution for a real-valued random variable. Gaussian elimination method is used to solve a system of linear equations. In the 1950s this was the work of many mathematicians that put this book together. A sequel, A Million And One Random Digits
5487-547: The consent of the copyright holder, which initially is always the author. In the Universal Copyright Convention , "publication" is defined in Article VI as "the reproduction in tangible form and the general distribution to the public of copies of a work from which it can be read or otherwise visually perceived." Privishing ( priv ate publ ishing , but not to be confused with self-publishing )
5580-613: The culinary and reference portfolio of John Wiley & Sons , including CliffsNotes and Webster's New World Dictionary . HMH went public in November 2013. In 2014, Houghton Mifflin Harcourt sponsored Curious George (TV series) on PBS Kids replacing Chuck E. Cheese . On May 13, 2014, HMH bought Channel One News . In 2015, Houghton Mifflin struggled to find a charity that would accept royalties for Mein Kampf by Adolf Hitler . On February 15, 2017, John J. ("Jack") Lynch Jr.,
5673-422: The discount given to retailers (usually around 45 percent). Small publishers, also called independent or indie publishers, operate on a traditional model (i.e. the author surrenders some rights in exchange for the publisher bearing all costs of publishing), but their precise terms can vary greatly. Often, they do not pay an advance on royalties. A hybrid publisher shares the costs of publication (and therefore
SECTION 60
#17327729113865766-519: The ensuing decades, however, printing and distribution operations relocated, eventually resulting in the underutilization of the aging Skokie building. It was sold in February 2008 to Ida Crown Jewish Academy for $ 11 million, and the approximately 200 current employees relocated in January 2009 to an office building near Skokie's Old Orchard Mall . As of April 26, 2024 Rand McNally no longer has
5859-403: The former CEO of Renaissance Learning, was named the new CEO of Houghton Mifflin Harcourt. In 2018, HMH sold its Steck-Vaughn adult education titles to Paxen Publishing and its Riverside test publishing subsidiary to Alpine Investments. In April 2023, HMH acquired NWEA , a not-for-profit academic assessment company. On March 29, 2021, The Wall Street Journal reported that HarperCollins ,
5952-476: The holding company debt converting into 45% of the fully diluted common equity, an effective 25 percent relaxation of financial covenants, second lien lenders agreeing to convert their holdings into a PIK instrument, reducing annual interest costs by $ 100m, and a further $ 50m increase its working capital facility. A further restructuring of Houghton Mifflin Harcourt's debts was confirmed by the company on January 13, 2010. The proposed restructuring materially impacted
6045-651: The investors of EMPG would have a nominal investment in Houghton Mifflin Harcourt via warrants over 5% of the company if it exceeded the $ 10 billion valuation placed on the company at the time of the merger between Houghton Mifflin Riverdeep and Harcourt. In addition to the warrants in HMH, the EMPG shareholders would continue to own a stake in the international investment vehicle, EMPGI which has stakes in China,
6138-497: The line of Photo-Auto Guides from G.S. Chapin, which provided photographs of routes and intersections with directions. Andrew McNally II (son of Frederick McNally) personally took photos on his honeymoon for the Chicago-to-Milwaukee edition. The company continued to expand its book publishing business, with best-selling children's books such as The Real Mother Goose in 1916 and Kon-Tiki in 1950. Rand McNally
6231-576: The mainstream publishing industry to a handful of big publishers as it adapted to digital media. The merger created the largest consumer book publisher globally, with a global market share of more than 25 percent. As of 2022 , approximately 80% percent of the United States trade market for books was controlled by the " Big Five " publishing houses: Penguin Random House , Hachette , HarperCollins , Simon & Schuster , and Macmillan . In November 2020, ViacomCBS agreed to sell Simon & Schuster,
6324-504: The move as a devastating blunder. Harcourt Religion was sold to Our Sunday Visitor in 2009. On July 27, 2009, the Irish Independent newspaper reported that Houghton Mifflin Harcourt's controlling shareholder EMPG was in the process of a re-structuring negotiations with its unsecured-debt holders that would lead to the conversion of the debt into equity. The news story reported that the unsecured debt holders would receive
6417-469: The next generation of technology for the education industry. The Irish Times reported that the investments by the then equity holders of EMPG, including HMH's CEO at the time, Barry O'Callaghan , private clients of Davy Stockbrokers, Reed Elsevier, and others of over $ 3.5 billion would be written down to zero. Additionally, the Irish Independent reported that following the restructuring,
6510-510: The partnership in 1872. In 1878, Ticknor and Fields , now under the leadership of James R. Osgood , found itself in financial difficulties and merged its operations with Hurd and Houghton. The new partnership, named Houghton, Osgood and Company, and based in Boston's Winthrop Square , held the rights to the literary works of both publishers. When Osgood left the firm two years later, the business reemerged as Houghton, Mifflin and Company. Despite
6603-420: The plant was the first to implement a new Kodak computer-to-plate printing system. When the plant was sold in 1997, it was over 1,000,000 square feet (93,000 m ) and employed 1,255 people. In 1961, because the company was not satisfied with the ability of existing map projections to create intuitive depictions of the entire world, it commissioned Dr. Arthur H. Robinson to develop what became known as
6696-573: The primary source of recording knowledge. For accessibility and global reach, this content can be repurposed for the web. The British Library , for example, holds more than 170 million items with 3 million new additions each year. With consent, content can be published online through e-books, audio books, CMS -based websites, online learning platforms, videos, or mobile apps. On the Internet, writers and copy editors are known as content writers and content editors, although their roles vary from their print-based counterparts. Advertising can provide income or
6789-489: The public interest, hold people and businesses to account, and promote freedom of information and expression. Editors manage the tone of voice of their publication; for example, negative versus positive articles can affect the reader's perspective. A journal is an academic or technical publication also available in digital and(or) print format, containing articles written by researchers, professors, and individuals with professional expertise. These publications are specific to
6882-457: The publishing industry in the US. Salon described the situation as a "lack of diversity behind the scenes in book world." A survey in 2020 by the same group found there has been no significant statistical change in the lack of diversity since the 2016 survey. Lack of diversity in the American publishing industry has been an issue for years. Within the industry, the least amount of diversity
6975-410: The publishing process to minimize environmental impact. One example is the concept of on-demand printing, using digital or print-on-demand technology. This cuts down the need to ship books since they are manufactured close to the customer on a just-in-time basis. A further development is the growth of online publishing, where no physical books are produced. The author creates an e-book and uploads it to
7068-442: The risks) with the author. Because of this financial risk, they are selective in what they publish. The contract varies according to what is negotiated between author and company, but will always include the surrender of some rights to the publisher. Hybrid publishing is the source of debate in the publishing industry, due to the tendency of vanity presses to masquerade as hybrids. A vanity press will publish any book. In return,
7161-483: The scribes of Europe had produced since Constantine founded his city in A.D. 330." The history of modern newspaper publishing started in Germany in 1609, with the publication of magazines following in 1663. Missionaries brought printing presses to sub-Saharan Africa in the mid-18th century. Historically, publishing has been handled by publishers , although some authors self-published. The establishment of
7254-401: The shareholders of EMPG , the former holding company of Houghton Mifflin Harcourt. On February 22, 2010, Houghton Mifflin Harcourt announced that EMPG and HMH had reached an agreement to restructure the finances of the company and recapitalize its balance sheet with a substantial fresh cash investment by institutional investors. The agreement, supported by 100% of HMH's creditors, highlighted
7347-735: The term refers to the creation and distribution of printed works , such as books , comic books , newspapers , and magazines . With the advent of digital information systems, the scope has expanded to include digital publishing such as e-books , digital magazines , websites , social media , music , and video game publishing . The commercial publishing industry ranges from large multinational conglomerates such as News Corp , Pearson , Penguin Random House , and Thomson Reuters to major retail brands and thousands of small independent publishers. It has various divisions such as trade/retail publishing of fiction and non-fiction, educational publishing, and academic and scientific publishing . Publishing
7440-497: The third largest book publisher in the United States, to Penguin Random House in a deal that, if it had gone through, would have formed the largest publishing company in the world. On November 2, 2021, the United States Department of Justice filed a lawsuit (U.S. v. Bertelsmann SE & CO. KGaA, et al.) to block the merger on antitrust grounds, and on October 31, 2022, the D.C. District Court ruled in favor of
7533-540: The title. A book that is privished may be referred to as "killed." Depending on the motivation, privishing may constitute a breach of contract , censorship , or good business practice (e.g., not printing more books than the publisher believes will sell in a reasonable length of time). Publishing became possible with the invention of writing and became more practical upon the introduction of printing . Before printing, distributed works were copied manually by scribes . Due to printing, publishing progressed hand-in-hand with
7626-469: The type based on a matrix and hand mould . The invention of the printing press gradually made books less expensive to produce and more widely available. Early printed books, single sheets, and images created before 1501 in Europe are known as incunables or incunabula . "A man born in 1453, the year of the fall of Constantinople , could look back from his fiftieth year on a lifetime in which about eight million books had been printed, more perhaps than all
7719-453: The way the data is displayed is published. A textbook is an educational book, or e-book, that contains information on a particular subject and is used by people studying that subject. The need for textbook publishing continues due to the global need for education. Textbooks from major publishers are being integrated with online learning platforms for expert knowledge and access to a library of books with digital content. A university press
7812-478: Was a subsidiary of Education Media and Publishing Group Limited, an Irish-owned holding company registered in the Cayman Islands and formerly known as Riverdeep . In 2022, it was acquired by Veritas Capital , a New York-based private-equity firm. In 1832, William Ticknor and John Allen purchased a bookselling business in Boston and began to involve themselves in publishing; James T. Fields joined as
7905-423: Was chosen as the location for the site. Rand McNally has always been a privately held company, with stock held by very few parties and very thinly traded. When Rand retired in 1899, he sold his shares in the company to McNally and the other company officers. The McNally family was the majority owner for nearly 100 years, from 1899 until 1997, at which time the family decided to divest its majority stake. The company
7998-603: Was completed on May 10. On February 22, 2022, a tender offer was announced by Veritas Capital to acquire HMH at a price of $ 21 per share, or about $ 2.8 Billion. The tender deadline was originally April 1, before being extended to April 6 on March 29. Prior to the tender date, the stock generated a lot of hype on internet forum WallStreetBets , with over 36,000 contracts traded for the June 17 $ 22.5 strike price call options . Many investors purchased call options based on numerous reports from institutional investors with large stakes in
8091-560: Was first published in 1876. The atlas is still updated today, now titled the Commercial Atlas & Marketing Guide . The Trade Book department was established in 1877, publishing such titles as The Locust Plague in the United States . Rand McNally began publishing educational maps in 1880 with its first line of maps, globes, and geography textbooks, soon followed by a world atlas. The company began publishing general literature in 1884 with its first title, The Secret of Success , and
8184-624: Was formally established in 1868. The company was incorporated in 1873 with Rand as the first president and McNally vice-president. When Rand retired in 1899, Andrew McNally assumed the role of president until his death in 1904. Andrew's son, Frederick McNally, became president upon his father's death, just as the age of the automobile was beginning. When Frederick McNally died in 1907, his sister's husband, Harry Beach Clow, became president. Andrew McNally II took over in 1933. He and his heirs, Andrew McNally III and IV, successively served as president until 1993. Rand McNally has made many acquisitions over
8277-560: Was in higher-level editorial positions. Publishing on specific contexts Publishing tools Rand McNally Rand McNally is an American technology and publishing company that provides mapping, software and hardware for consumer electronics, commercial transportation and education markets. The company is headquartered in Chicago, Illinois , with a distribution center in Richmond, Kentucky . In 1856, William H. Rand opened
8370-413: Was published in 1923. It became a standard text for high school and college geography curricula. Later retitled Goode's World Atlas , it is now in its 22nd edition. The first Rand McNally Travel Store was opened in New York City in 1937. In the 1990s it became a chain with 29 locations, but by 2005 all were closed as a cost-saving measure. While Rand McNally is mainly known for its maps, in 1955 it published
8463-588: Was published in 2022. Random number books have been rendered obsolete for most purposes by the ready availability of random number generators running on electronic computers. However they still have niche uses, particularly in the performance of experimental music pieces that call for them, such as Vision (1959) and Poem (1960) by La Monte Young. Rand McNally moved its headquarters from Chicago to suburban Skokie, Illinois in 1952. The company opened its Versailles, Kentucky , book publishing plant in 1962 with 300,000 square feet (28,000 m ) and 23 employees. In 1994,
8556-565: Was sold piecemeal; in January 1997, the company announced it was selling its Book Services Group, which employed 1,700 people in Versailles, Kentucky , and Taunton, Massachusetts , to World Color Press for $ 155 million. In February 1997, the DocuSystems Group, which printed airline tickets and luggage tags at its Nashville facility, was sold to Code Hennessy & Simmons , a Chicago-based private equity firm. In April 1997,
8649-567: Was the first major map publisher to embrace a system of numbered highways. One of its cartographers , John Brink, invented a system that was first published in 1917 on a map of Peoria, Illinois . In addition to creating maps with numbered roads, Rand McNally also erected many of the actual roadside highway signs. This system was subsequently adopted by state and federal highway authorities. The oil industry quickly developed an interest in road maps, enticing Americans to explore and consume more gasoline. In 1920, Rand McNally began publishing road maps for
#385614