This morning, Jim Milliot reports that Perseus has received signed agreements from “more than 10” ex-PGW publishers. Presumably, this is the 70 cents on the dollar reimbursement in exchange for four years of distribution deal that was bandied about like a tainted carrot to the PGW publishers left in the lurch. This does not mean that Perseus has acquired PGW, but Perseus’s goal is to grab 65% of the PGW clients before the February 12 hearing date. Under the deal, the publishers will retain ownership of their inventory, if not their sunny dispositions.
© 2007, Edward Champion. All rights reserved.