Publishers Eyeing Borders Discussions Warily

PW: "Publishers appear willing to adopt a tough stance in negotiations with Borders this week regarding the chain’s need for new payment and finance terms. While Borders is meeting separately with the major New York houses, there appears to be sentiment among some of the publishers to use a mediator to negotiate on their behalf. Publishers are prohibited by law from meeting as a group to discuss terms with their vendors. And while Borders is believed to want a quick answer from publishers, the houses aren’t necessarily eager to make an immediate decision, and it is far from clear if all the houses will go along with Borders’ proposal. As reported by PW Daily Monday, Borders wants to exchange what it currently owes houses for a note, and to extend some due dates. ... "