Random House Canada has acquired the University of Toronto’s 75 percent share in McClelland & Stewart, making RHC the sole owner of the storied Canadian house. Apparently the University has handed over their interest, telling us in a statement that “the University is not receiving any financial compensation.” They write that “publishing is not a core business of the University of Toronto,” and that “the Canadian government has authorized the sale of McClelland & Stewart to Random House. As a result, UofT is able to divest itself of its shares in the company. The University has used its ownership position […]
