Without reliable distribution at the leading newsagents, New Worlds had to rely on unconventional distribution and subscriptions. The magazine was not especially profitable, and since Moorcock had not formed a company to publish it, he was personally responsible for its costs. To bring in cash he had been writing fantasy novels at a very rapid rate since early 1968, and from early 1969 the editorial work was given to various others, primarily Charles Platt and Langdon Jones. A regular monthly schedule was adhered to from January until July 1969, at which point came another financial blow when it was discovered that half of the print run of 20,000 was being held back by the distributors. Moorcock attempted to regroup by reducing the number of pages in each issue, and because he was again forced to write as much as he could to earn enough to pay New Worldss bills, he turned over almost all editorial duties to Charles Platt, though others involved with the magazine also took turns at the editorial work over the next few issues. Moorcock was £3,000 in debt, and in combination with the Arts Council's decision not to renew their grant he found himself with no option but to cease publication on a monthly schedule and arrange a quarterly schedule in paperback format published by Sphere Books. The April 1970 issue, the 200th, was the last that went out to the distributors; one more issue was prepared and posted to subscribers as the 'Special Good Taste Issue' the following March. Later incarnations When Moorcock realised that the magazine would have to fold, he made arrangements with Sphere Books to continue New Worlds as a quarterly paperback anthology series. Sphere produced eight issues, although the quarterly schedule was not adhered to after the fourth issue; the eighth issue appeared in 1975. Six issues were reprinted in the US. The early issues did well financially, with about 25,000 copies sold, not counting US sales. Moorcock turned over the editorship to Charles Platt with the sixth volume, and to Hilary Bailey thereafter, to give himself more time to devote to his own writing: he also commented that by this time "I no longer had my editorial touch (I couldn't read sf at all)". Sphere cancelled the series after two more issues; it was briefly taken over by Corgi Books, but sales were weak and Corgi dropped the series with