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The Canadian publishing industry is pondering the future of Toronto-based McArthur & Company after British-based publishing giant Hachette Book Group that it's giving the sales and distribution functions of its British imprints to Hachette Book Group USA, reports Canada's Globe and Mail. The business was worth an estimate 70% of the Toronto firm's turnover.
But McArthur & Co president Kim McArthur said she's known the change was coming "for about a year" and has been quietly making adjustments to ensure that the loss of the $10m in gross annual revenue provided by Hachette's imprints wouldn't sink the company she formed in 1998.