Later Developments
In 1988 Grolier was purchased by the French media company Hachette, which owned a well-known French-language encyclopedia, the Hachette Encyclopedia. Hachette was later absorbed by the French conglomerate the Lagardère Group.
A CD-ROM version of the encyclopedia was published in 1995. Although the text and images were stored on separate disks, it was in keeping with standards current at the time. More importantly, the work had been digitized, allowing for release of an online version in 1997. Over the next few years the product was augmented with additional features, functions, supplementary references, Internet links, and current events journal. A redesigned interface and partly reengineered product, featuring enhanced search capabilities and a first-ever ADA-compliant, text-only version for users with disabilities, was presented in 2002.
The acquisition of Grolier by Scholastic for US$400 million, took place in 2000. The new owners projected a 30% increase in operating income, although historically Grolier had experienced earnings of 7% to 8% on income. Staff reductions as a means of controlling costs followed soon thereafter, even while an effort was made to augment the sales force. Cuts occurred every year between 2000 and 2007, leaving a much-depleted work force to carry out the duties of maintaining a large encyclopedia database. Scholastic, which specializes in works for the K-8 market, has sought to position the Encyclopedia Americana as a reference resource for schools. It remains to be seen whether that strategy, applied to a venerable upper-level (even adult-level) publication, will work in the long run. Today, Encyclopedia Americana lives on as an integral database within the Grolier Online product.
Read more about this topic: Encyclopedia Americana
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Freedom from labor itself is not new; it once belonged among the most firmly established privileges of the few. In this instance, it seems as though scientific progress and technical developments had been only taken advantage of to achieve something about which all former ages dreamed but which none had been able to realize.”
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