Topic summary
Putnam Publishing Group
Extracted from the Wikipedia article G. P. Putnam's Sons.
History
MCA bought Putnam Publishing Group and Berkley Publishing Group in 1975. Phyllis E. Grann, who was running Pocket Books for Simon & Schuster, was brought on board in 1976 as editor-in-chief. In an attempt to boost Putnam's profits, Grann worked with MCA executive Stanley Newman on a financial model that emphasized publishing key authors annually and took Putnam from $10 million in revenue to over $100 million by 1983. While keeping the list at 75 titles a year, Putnam focused on winners like Tom Clancy whose book Red Storm Rising sold almost one million copies in 1986. Along with other publishers in the 1980s, Putnam moved to a heavy discount hardcover model to keep up with demand and sales through bookstore chains and price clubs. Grann was promoted to CEO of Putnam in 1987, notably the first woman to become CEO of a major publishing house. By 1993, the publisher was making $200 million in revenue.