Major US publisher not buying new books

In an effort to be reassuring, apparently, Blumenfeld added that this is "not a permanent change," although the article did not indicate when new manuscripts would again be considered. It is not clear as to whether manuscripts already approved and set for release would make it to bookshelves.

Blumenfeld also noted that any future manuscripts would be rigorously assessed for "market interest."

A number of literary agents consulted by Publishers Weekly said they had never heard of a major publisher instructing its editors to stop buying manuscripts. "I've been in the business a long time and at a couple of houses I worked at, when things were bad, we were asked to cut back," said agent Jonathon Lazear. "But I've never heard of anything so public." Another agent termed the action "very scary."

The trade publication continued: "Thus far one agent has confirmed that at least one of his manuscripts has been declined at HMH per the policy. But perhaps an editor at the house put it best; in an e-mail, the editor mentioned the policy and added, ‘Who knows what's next.' " The Boston Globe noted the freeze for an indefinite period was "a virtually unheard-of act by a major publisher."

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http://wsws.org/articles/2008/dec2008/book-d16.shtml