Today a Houghton Mifflin Harcourt spokesperson said that the company would be “open to a sale of its consumer publishing arm.” The spokesperson also disagreed with the conglomerate’s recent treatment in the financial press, despite a troubled two months.
According to Financial Times, the financial agency Moody’s had alleged that the publisher’s parent company was “a likely default” on some of its corporate debt. A spokesperson said the parent company had “ample liquidity,” placing faith in upcoming education stimulus in the United States.
Just like the struggling print industry, this publisher placed hopes in Barack Obama. Here’s an excerpt: “Given the stated objective of the incoming Obama administration of the importance of education to the US global competitiveness, we are hopeful that school districts will have the necessary funding available to ensure students have the appropriate instructional materials to use in the classroom and to take home.”