It’s worth reading Mike Shatzkin’s take on why It Books is a step backwards. (Thanks to Dan Wagstaff at casualoptimist.com.)
http://www.idealog.com/blog/imprints-in-the-21st-century

yes because social media is literary to a degree.
literate, not literati. creating new divisions by a major corporation that is going to reflect the vacuous state of
our being should be applauded and celebrated globally.
i mean its all made up anyway, nothing is actually making money except for the same 19 books each quarter that do okay. so why not take a gamble Q-pie?

social media sites, topics (such as the book industry which was featured on house last night) man like ah, without it, you would not exist.

that social media is popular and can con people into reading is
the magic of book publishing.

I read the piece in the New York Times last week. The HC president left the impression that he was just blowing smoke. I fail to see this as a good news story more a running through the rye story. They obviously intend to take a half-hearted run at this cliff. What they really need to do is bring down the Toronto HC editorial crew and show them how to publish books that sell.