Houghton Miflin Harcourt told its editors to stop buying books.
You read that right. According to Publisher’s Weekly, HMH has put a temporary hold on acquisitions across the the board.
Josef Blumenfeld, v-p of communications for HMH, confirmed that the publisher has “temporarily stopped acquiring manuscripts” across its trade and reference divisions. The directive was given verbally to a handful of executives and, according to Blumenfeld, is “not a permanent change.”
Unbelievable. And like the article says, it really makes you wonder: What’s next?