THE MEDIA BUSINESS; Small House to Buy Atlantic Monthly Press (original) (raw)
Business|THE MEDIA BUSINESS; Small House to Buy Atlantic Monthly Press
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THE MEDIA BUSINESS
- June 24, 1991
Credit...The New York Times Archives
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June 24, 1991
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Section D, Page
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The Atlantic Monthly Press, a respected but struggling small publisher, is to be sold to another independent company in a deal suggesting that some houses can still resist the advance of media conglomerates.
In a deal to be announced today, the Charles E. Tuttle Company, a Boston-based publisher that specializes in Asian and particularly Japanese books, has signed a letter of intent to acquire the Atlantic Monthly Press. Terms are not being disclosed.
Carl Navarre, the president and owner of the Atlantic Monthly Press, had been talking with potential buyers for several weeks. His effort reflects the fact that in an industry increasingly dominated by big houses like HarperCollins, Random House, Simon & Schuster, Warner Books, Bantam Doubleday Dell and Little, Brown, it is difficult for a small company to survive. The Atlantic Monthly Press has sales of about $4.5 million.
"It is just too difficult as a stand-alone company our size to get to profitability," said Morgan Entrekin, who has his own imprint at the Atlantic Monthly Press and will become Atlantic's editorial director once the sale is concluded. "This was the best deal we could possibly hope to find."
Mr. Entrekin said Friday that talks were held with several media conglomerates, but that in the end Mr. Navarre decided that the independence of the Atlantic Monthly Press was worth preserving if possible.
"This is a good day for independent publishers in America," Mr. Entrekin said. "This gives us the resources to grow while enabling us to maintain our editorial integrity."
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