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The story
The Modern Library originally published only hardbound books. In 1950, it began publishing the Modern Library College Editions, a forerunner of its current series of paperback classics. From 1955 to 1960, the company published a high quality, numbered paperback series, but discontinued it in 1960, when the series was merged into the newly acquired Vintage paperbacks group. The Modern Library homepage states:
In 1992, on the occasion of the Modern Library's seventy-fifth anniversary, Random House embarked on an ambitious project to refurbish the series. We revived the torchbearer emblem that Cerf and Klopfer commissioned in 1925 from Lucian Bernhard. The Promethean bearer of enlightenment (known informally around the old Modern Library offices as the "dame running away from Bennett Cerf") was redesigned several times over the years, most notably by Rockwell Kent.
In 1998, novelist David Ebershoff became the Modern Library's new Publishing Director. Ebershoff managed the imprint until 2005, when he resigned to concentrate on his own writing and to become editor-at-large at Random House.
From Wikipedia’s article on Modern Library, shared under CC BY-SA 4.0.4