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AOL Time Warner Shuts Down e-book Unit iPublish

Press release from the issuing company

AOL Time Warner said this week that they would close down iPublish.com by the end of the year. The decision will cause the loss of 29 jobs. Larry Kirshbaum, Chairman of Time Warner Trade Publishing issued a statement saying the market for e-books had not developed the way the company had hoped. “We can't jeopardize our thriving print business by carrying a money-losing operation indefinitely into the future.” Just last month, Random House Trade Group closed its e-book unit, AtRandom, because of low demand. The sale of e-books will be transferred to the Time Warner Trade Publishing group responsible for the electronic promotion of Warner and Little, Brown print titles. iPublish.com was formed in the spring of 2000 and offered more than 400 titles.

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