1968. Imprints and others Quality paperbacks were produced in Canada with their New Canadian Library series, launched with four titles. They were aimed at a college or university market, for course texts. The term "quality" was intended to suggest a divide between the mass market paperback and this higher production valued, often scholastic, publication. These paperbacks were the same size as mass market paperbacks, but had more sober covers, sometimes better quality binding, and were produced in smaller print runs. This was at a time when Canadian literary identity was beginning to be valued on a large scale level in Canada (it was after the war, and influenced by that as well). The 1950s had seen rare inclusions of Canadian content in English literature classes, and in the 1960s and 1970s, Canadian literature was being included more frequently in Canadian education. The New Canadian Library was said to have been an important factor in the establishment of the Canadian Literary identity. Macmillan of Canada was a major competitor of the New Canadian Library. In 1986, M&S hired editor and publisher Douglas Gibson from Macmillan, giving him his own Douglas Gibson Books imprint. Many of the authors Gibson had worked with at Macmillan — including Alice Munro, Mavis Gallant, Robertson Davies, Jack Hodgins, Guy Vanderhaeghe, Hugh Maclennan and W.O. Mitchell — followed him to the new imprint. The first book published under the Douglas Gibson Books imprint was Munro's The Progress of Love. Gibson became the publisher of McClelland and Stewart in 1988, and the company's president in 2000. At times, the company's financial future has been uncertain. In 1971, the Ontario Development Corporation made a $961,645 loan to stave off imminent collapse due to an unsustainable burden of debt. In 1986, the company was purchased from McClelland by Avie Bennett. In 2000, Random House of Canada bought a 25% share in the company. The other 75% was donated to the University of Toronto. In 2011, Random House bought the remaining 75% of the company to become sole owner. Legacy Canada Post has issued a single commemorative stamp celebrating McClelland & Stewart's centennial. The stamp, designed by James Roberts of Overdrive (Design Limited), was issued nationwide on April 26, 2006, with the first day of issue ceremonies at the University of Toronto. Parent company Penguin Random House In 2011, University of Toronto sold its shares of McClelland & Stewart to Random