Final Chapter for Courier Gets Written—Mark Michelson

Quad/Graphics didn’t walk away empty-handed, however. Courier had to pay Quad a $10 million termination fee (which Courier said would be paid in full by RRD) to comply with a clause written into their original sales agreement. So, it appears Quad/Graphics, by that financial measure, got a windfall—despite the fact that not buying Courier relinquished significant digital book printing and front-end expertise, as well as textbook, trade and religious publisher customer share—to Donnelley’s already formidable book manufacturing platform.