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Bertelsmann has cancelled its annual Frankfurt Book Fair party, easily the most sought-after invitation at the annual book trade fair. The party was held jointly by Random House and Bertelsmann's Direct Group, which operates its declining book club interests. The company said the move was consistent with its decision not to hold corporate parties at the London Book Fair or Book Expo America.
Nevertheless, the decision will be a blow to Frankfurt, and fair-goers, who have long-enjoyed the lavish Thursday-night event, as well as a further indication of the deteriorating market conditions worldwide for book publshing, but also in particular for its book clubs businesses. Bertelsmann sold its UK book club business at the end of 2008.
Random House US spokesman Stuart Applebaum told Publishers Marketplace: "This party always has been the financial responsibility of the two companies, whose ceos made this determination. For Random House, this course of action is consistent with our not hosting any coporate social events this spring at the LBF or BEA. We've been informing many of our longstanding invited international guests of our intention, and while disappointed, they are unsurprised and respectful of our decision. Random House will explore other Frankfurt Book Fair social-event opportunities in future years."