The Bookseller.com

1st December 2008

Friday Project owes £1.8m

10.04.08 Graeme Neill

Anthony Cheetham is owed £60,000 by The Friday Project, according to documents filed at Companies House. According to the documents, the blogs-to-books publisher owes a total of £1.79m. Along with Cheetham, who invested in TFP, other creditors are TFP founder Clare Christian (£68,158) and commercial director Scott Pack (£28,158).

HarperCollins expects to conclude a takeover of the business in the next few days, with a spokesperson for HC saying it was still in discussions with TFP, but was not ready to make an announcement.

It is unclear what TFP's future will be if the HC takeover goes ahead, but The Bookseller understands that one option being considered is for the business to be set up on a similar model to publishing veteran Robert Miller's new list in the US, although not overseen by Miller.

Miller will be launching a global list that aims to minimise returns and work on a profit-sharing model, rather than a traditional royalty system. He will publish 25 books a year in multiple physical and digital formats, chiefly using the internet for sales, marketing and distribution.

HarperCollins Anthony Cheetham Scott Pack Graeme Neill Home Friday Project Clare Christian

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