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PGW Transition to Perseus Begins, 68 Jobs to Remain

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April 19 – April 26, 2007 Edition

PGW Transition

To Perseus Begins;

68 Jobs to Remain

4/16/07–Perseus Book Group which recently acquired PGW, the bankrupt distribution arm of AMS, has revealed to employees and publishers its strategy for absorbing the company. Shelf Awareness reported that letters were sent out late last week from Perseus CEO David Steinberger and PGW COO Joe Mangan outlining plans for the transition period, which ends July 31.

Perseus is offering jobs to 68 PGW employees, mainly in the business, sales, marketing, and information departments. Most PGW warehouse employees will lose their positions with the move of distribution operations to Perseus’s center in Jackson, Tennessee. As of August 1, 2007, all of PGW’s 124 publishers who signed up to move their business to Perseus, will be served from a third Jackson warehouse. PGW’s Berkley, CA. facility, will remain in operation. Perseus and PGW sales forces will be combined. Perseus will seek an agreement with AMS to use the PGW name permanently.

PGW President Rich Freese, who will leave the company, was praised in the executive letter for his heroic contributions through the transition.