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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