|Heldref Publications Sells 37 Titles to UK-Based Publisher, Taylor & Francis|
Sale Proceeds to Establish New Institute to Promote U.S. Engagement, Democratic Development
Read More: An Open Letter to the Subscribers and Friends of Heldref Publications
Washington, D.C. July 21, 2009. Heldref Publications, founded in the 1970s, announced that it recently completed the sale of 37 of its journals and magazines to UK-based Taylor & Francis, one of the world's largest and oldest publishing houses.
Heldref retained only two titles, its flagship public policy publication, World Affairs, as well as Demokratizatsiya .
James Denton, Heldref's Executive Director, said that in the wake of the sale, the organization "will be restructured, remade, and renamed." He added that the new organization would pay tribute to the foreign policy and security interests of two of its founders, Professors Evron and Jeane Kirkpatrick. "We will remain an educational, non-profit group," Denton said, "but we will narrow our mission to advance effective American leadership and engagement in ways that promote democratic development, human rights, and a just peace."
In addition to publishing World Affairs and Demokratizatsiya, the yet-to-be-named institute intends to use the sale proceeds to award fellowship and scholarship grants, as well as conduct international programs to advance its mission.
The sale of the publications comes nearly three years after a major overhaul of Heldref Publications was begun to reverse its declining financial condition. Heldref implemented a major restructuring marked by staff consolidation and upgrades; cost-cutting; and an organization-wide technological upgrade. Heldref incurred over $1 million in losses in 2006 but was operating in the black by early 2008.
In the coming months Heldref Publications and the Helen Dwight Reid Educational Foundation will be reconstituted with a narrowed mission and a program portfolio to pursue it.
For further information, contact Susie Saadian at 202 296 6267, ext. 1264.