Really the title of this one says it all. David Gaughran gives the details here, but in case you aren’t feeling like reading another vanity press screws unwary writer story today, here are the highlights.

Big name publisher Simon & Schuster has decided to get into self-publishing game, and has outsourced the development of its self-publishing program to vanity press conglomerate Author Solutions (umbrella group for Author House, Xlibris, iUniverse, and Trafford, now owned by Penguin).

In exchange for $1,999-$14,999 up front for fiction ($2,999-24,999 for business titles), an additional $.035 cents/word for editing services, half your ebook royalties, and all but pennies of the proceeds from your print sales, Simon & Schuster’s new Archway Publishing unit will publish your book.

Such a deal — for them.

Via: Simon & Schuster Joins Forces With Author Solutions To Rip Off Writers | David Gaughran.