Thursday 4 March 2010

An education: Letts goes to HarperCollins

Some publishing companies get serially taken over more often than Portsmouth FC.

Letts is one such case. This list of revision guides and national curriculum aids started life as the education department of Charles Letts & Co. Ltd, the diary people: I know, I was there as an editor.

The pass-the-parcel dance started in 1991, with a sell-off to BPP: the list became Letts Educational. From there, on to Granada Media in 1999; then to Huveaux in 2006; and now to HarperCollins, in ever decreasing circles. The imprint sold for £28m in 1999, £12m in 2006, and £10m in 2010.

So why the decreasing price? Educational publishing is going through a tough phase. Letts is an established brand name, but revision guides face completion from digital products and from access to national curriculum materials in a world where exclusivity in contracts is becoming more important. The Government has preferred partners.

What's in it for HarperCollins? Synergy, and safety in numbers: together, the educational brands will be stronger, and costs will be cut. It's no surprise to imagine that various heads will roll: they always do when publishing imprints and/or companies merge.


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