 His faltering financial status meant that he had to sell the Modern Library to then-vice-president Bennett Cerf in 1925.Liveright started to put money from the publishing company into Broadway productions but soon found that the erratic success of the Boni & Liveright publishers was not a secure income; the Modern Library had been the backbone of his finances.In 1928 he lost control of Boni & Liveright and was pushed out entirely by 1930.