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Ever since Divine, the parent company of failed journal subscription agency RoweCom, itself filed for bankruptcy, libraries have been wondering what to do next (see News Fronts, this issue). Some who were able decided to eat their losses and renew through a new jobber rather than let their subscriptions lapse. Others have not had the funds to do so. Publishers meanwhile--ALA included--have wondered how much of a loss they will have to absorb as they struggle to retain subscribers.
Divine filed for bankruptcy in February, following a $73.7-million lawsuit brought against it in January by its own subsidiary, RoweCom. The suit accuses the parent company of diverting $73.7 million …