The Party's Over at the World's Biggest Book Show

In a sign of the economic times, Random House has canceled its famed curtain-raising soiree during the Frankfurt Book Fair. The party, long known as a lavish annual industry event, has been the financial responsibility of Random House and parent company Bertelsmann and was, this year, canceled by the CEOs of those companies.

A spokesperson for the publisher issued a statement saying that "this course of action is consistent with our not hosting any corporate social events this spring at the LBF or BookExpo America. Story from Publishers Weekly.