TCG Letter #1355

Rayner Unwin writing to Tolkien^{see Carpenter #135a: Letter from J.R.R. Tolkien to Rayner Unwin • 12 November 1952 (#1419) for Tolkien's reply[1]} gives him the welcome news that they have decided to publish The Lord of the Rings. They will take the unusual approach of offering a profit share once the costs have been returned. If the book sells well, Tolkien will receive a better deal than under a royalty payment, if it sells badly, he will get nothing, but Allen & Unwin will take the loss alone.

They are still considering how to publish the book, in one volume or the preferred option of splitting it into three volumes.