BOOK VALUE

“The market for e-books has simply not developed the way we hoped, and given the overall economic climate, we can’t jeopardize our thriving print business by carrying a money-losing operation indefinitely into the future.”

Larry Kirshbaum, chairman of Time Warner Trade Publishing, on closing iPublish.com, a venture that redefined publishing as we know it only by being unprofitable, News.com, 4 December 2001

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