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This article discusses the Compañía Iberoamericana de Publicaciones (CIAP), which was the first major Spanish-language book publishing corporation. The authors comment on the unique business model of the CIAP, which included long-term contracts with authors, extensive use of advertising, and the awarding of literary prizes. They also describe the historical context of the early 20th century when the CIAP was established, during which time there was a complete transformation in the book publishing industry. The fate of the CIAP, which was forced to close due to bankruptcy, is also detailed.