Perseus Books has acquired Avalon Publishing Group, the largest publisher client of AMS subsidiary Publishers Group West.  This may be the first step in a move on PGW by Perseus, which also owns distributors CDS and Consortium (see 'Perseus Acquires Consortium'). 

Charlie Winton, CEO of Avalon, was one of the founders of PGW; he told both PW and the Wall Street Journal that he is working with Perseus and AMS to find a way out for PGW, which is embroiled in the bankruptcy filed by AMS last week (see 'AMS Bankruptcy Roils Book World').