A bit more on The Divine Story from The Chicago Tribune.
They say Chicago-based Divine Inc. is in negotiations with a handful of publishers and a Dutch competitor to resolve a problem that threatens to interrupt the flow of periodicals to thousands of libraries across the nation.
A Divine subsidiary, RoweCom, collected at least $50 million from as many as 4,000 libraries for subscriptions last year, but failed to pay the publishers. The money was used to pay RoweCom\’s operating costs and debts, Divine executives have said.
\”Our strategy is to structure this so that a portion of the money would be put forward by the RoweCom side,\” Hess said. \”Swets Blackwell would put together some of the money. And concessions, discounts, by the publishers would cover part of the cost.\”
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