The Boston Globe has a long piece on Houghton Mifflin Harcourt’s financial challenges, though there’s little that is new in the piece. Spokesman Josef Blumenfeld now says that “since Houghton’s reported decision last fall to suspend acquisition of new titles, it is signing new books again.” Former Houghton Mifflin ceo Nader Darehshori’s appraisal is that “the debt is so overwhelming, there’s just no way. They borrowed more than the value of the company. They will be lucky if the value is half of what they owe.”Globe
