PW Daily, the online newsletter from Publishers Weekly, reports from the International Christian Retail Show in Denver: "Multnomah had a huge hit five years ago with The Prayer of Jabez, which sold over 8 million copies in 2001, more than any other book that year. Multnomah made ambitious expansion plans based on those sales, but eventually took heavy returns and was forced to reduce staff and title output. Still, the company remains well positioned in the Christian market."
Now the Christian publisher is selling. Rumors reported by PW Daily say it's going to Random House (which owns WaterBrook Press) and that "the acquiring publisher will absorb Multnomah's backlist, but close down its operations." An announcement, due Friday, will clarify the rumors.
Here's the link to the story in PW Daily.
