Random House Buys Ten Speed Press

Report from Publishers Lunch:

Random House has announced their acquisition of previously independent Ten Speed Press. Ten Speed's four imprints--Ten Speed Press, Celestial Arts, Crossing Press, and Tricycle Press--will operate as parts of the Crown Publishing Group. The unit will maintain its editorial, marketing, publicity, design, and production staff in Berkeley, CA.

Founder Phil Wood, who started the company in 1971, will serve as publisher emeritus, but "a new reporting structure for Ten Speed Press will be announced in the coming weeks."Ten Speed has an active backlist of over 1,000 titles, which they have self-distributed. Random House will officially take over distribution on May 1, and layoffs are expected at Ten Speed's warehouse as a result.

Spokesman David Drake notes that the Crown group "publishes the most diverse and eclectic list within Random House, and the lists of the respective Ten Speed Press imprints will complement our division's already broad range of title offerings. We will maintain the unique identity of Ten Speed while offering its publishing program the greater level of resources and support afforded by being part of a larger company."
More information here.