Publishers Weekly is reporting Amazon will bid to acquire the assets of Dorchester, a publishing house which has been in financial trouble for more than two years.
According to PW, if the deal goes through, Amazon will pay all outstanding royalties owed to Dorchester authors. Amazon would acquire 1,900 active titles in many of the genres it already publishes in, including romance and westerns.
PW quotes Amazon as saying its authors will have a choice as to how they want their books published going forward. The final auction is on August 28.
According to PW, the auction process was triggered by the owner of Dorchester's parent company, who is owed $3.4 million. The publisher has struggled in the aftermath of the drop in demand for mass market paperbacks.
Dorchester's troubles have been frustrating for authors and their agents, who've struggled to get owed royalties since their titles have continued to sell. Many authors have unsuccessfully attempted to get their rights reverted back to them.
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