Stanford to cut Stanford Univ. Press
Just wow.
The Stanford press actually brings in about $5 million a year in book sales, a sum that is impressive compared to sales of many scholarly publishers. But it has also depended on support from the university, which in recent years has provided $1.7 million annually.
Provost Persis Drell told the Faculty Senate Thursday that the university was ending that funding. She cited a tight budget ahead, due to a smaller than anticipated payout coming from the endowment. (The endowment is worth more than $26 billion and is the fourth largest in American higher education.)
Stanford publishes about 130 books a year. It is particularly well-known in the fields of Middle Eastern studies, Jewish studies, business, literature and philosophy. The press has also been capable of undertaking long-term scholarly efforts, such as a 20-year project to translate the Zohar, the key work in understanding the Jewish thought of the Kabbalah.
Source: Stanford moves to stop providing funds to its university press