No, Vanity Publishing is not the name of a new publishing company. What it does refer to is a type of publishing in which writers pay the costs of getting their own books published. The name comes from the idea that these writers are vain and will go to any costs to see their name in print. The publisher does not engage in any book promotions, nor does it market the book in any way.
A small press or a commercial publishing company does all the editorial work, printing and binding at its own expense and pays the author in the form of royalties based on the sale of the books. A vanity publishing company makes its profits in the amount bit charges the author to cover all these expenses. They are not selective in the works they publish, as are traditional publishers and will basically publish any material. They take no responsibility for mistakes in spelling or grammar or typos that may occur in the printed material.
One of the advantages for writers in using this type of publisher is that he/she does not have to go to the expense of purchasing a printing press and other equipment used in the publishing process. There is no need for a query letter or a proposal and the author does not have to meet submission guidelines or wait for the manuscript to be accepted. There is no contract signed between the author and the publisher – only the payment of fees. However, once the work is published, it cannot be published through a traditional publisher.
Another type of vanity publisher is the print on demand publisher. These publishers do engage in marketing the books. In this case there is a legal contract and the fees associated with publishing are not as high.