Authors to pay heavy price as Steimatzky bookstore chain sold
Some writers threaten to sue after learning their royalties are about to be slashed by publishers who aren't getting their money from the chain.
Authors will also be paying for Steimatzky’s sale to Yafit Greenberg’s group, after publishers were forced to forgo 30% of the money the ailing bookstore chain owes them. Publishers are expected to cut authors’ royalties by 30% as well, publishers have told TheMarker.
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