Random House Acquires Ten Speed Press, Layoffs Imminent?

Three months after massive restructuring at Random House, the conglomerate has purchased the California-based publisher, Ten Speed Press. Neither company revealed details of the sale, but Ten Speed founder Philip Wood will serve as publisher emeritus of the newly-acquired press, the NY Times reports.

The 38-year-old press publishes about 100 hardcover titles every year, including the recession-proof “What Color Is Your Parachute?” series. The imprint will become part of Crown Publishing Group at Random House.