BY MJR. MORON:
Just in from Publishers Weekly...Houghton Mifflin Harcourt has stopped acquisitions completely, at least for the time being.
[excerpt]It’s been clear for months that it will be a not-so-merry holiday season for publishers, but at least one house has gone so far as to halt acquisitions. PW has learned that Houghton Mifflin Harcourt has asked its editors to stop buying books. Josef Blumenfeld, v-p of communications for HMH, confirmed that the publisher has “temporarily stopped acquiring manuscripts.”
The directive was given verbally to a handful of executives and, according to Blumenfeld, is “not a permanent change.” Blumenfeld, who hedged on when the ban might be lifted, said that the right project could still go in front of the editorial review board. He maintained that the decision is less about taking drastic measures than conducting good business.
If you're submitting to any houses, check to make sure they aren't imprints of HMH. They have a lot of imprints, including Clarion. It looks like you can still submit, and if they really like something, they may take it up the ladder, but they won't be able to negotiate until the acquisitions freeze is lifted.
Merry Christmas.
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