Publisher’s Bankruptcy Filing Comes as Market for Print Textbooks Shrinks (original) (raw)

Cengage Learning Inc., one of the nation’s largest publishers of textbooks and other educational content, filed for bankruptcy protection on Tuesday, seeking relief under Chapter 11 of the Bankruptcy Code for what it said was about $5.8-billion in outstanding debt. The move will not only reduce that debt but allow Cengage to restructure to support its “long-term business strategy of transitioning from traditional print models to digital educational and research materials,” the company said in a written statement.

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About the Author

Jennifer Howard, who began writing for The Chronicle in 2005, covered publishing, scholarly communication, libraries, archives, digital humanities, humanities research, and technology.