Edit, compile, revise, redact, rewrite, adapt, though not strict synonyms, are sometimes confused when used of the preparation of material for publication.
Edit covers a wide range of meaning, sometimes stressing one implication, sometimes another.
It fundamentally implies preparation for publication of a work, often the work of another or of others; thus, to edit a text (as a play of Shakespeare) usually means to present the text as nearly as possible in the form intended by the author, but it often suggests the modernization of spelling, the giving of variant readings, or the addition of comments or glosses; to edit a newspaper or magazine means, in general, to become responsible for the contents and policy of the periodical as a whole, sometimes by doing all or most of the work involved but far oftener by supervising the work of a staff, by exercising surveillance of all outside writers or of the articles they write, and sometimes by writing editorials or leaders; to edit a work of reference (as a dictionary or encyclopedia) means to plan and execute a new work or one of its later editions, or, more often, to supervise the work of subordinates charged with the execution of those plans.
Because the details of editing vary according to the nature of the work edited, the verb is often used narrowly with a stress on one of these implications; thus, to edit often currently implies the cutting out of material for the sake of improvement or to meet limitations of space but often for other reasons that concern the person or the institution involved.
Compile in reference to literary material stresses a gathering together of material, whether written by oneself or obtained from varied sources, to form a collection, an anthology, or a work of reference; often, in addition, it implies the performance of the tasks of an editor, for it suggests need of skill in arrangement, in interpretation, and in dealing with textual problems.
Revise (see also CORRECT) implies a review of an earlier draft or edition to see where it can be improved and the actual work of improving.
Redact is used mostly by literary and historical scholars, especially in its derivative forms redaction and redactor, to imply the presentation of something in form for use or for publication. It may imply careful framing of or giving expression to some material, but it more often suggests editing of materials or even, especially in the form redactor, the giving of a new form to an old work (as by revision, rearrangement, or addition).
Rewrite implies a putting into a form suitable for publication of a set of facts or of material gathered by another (as a reporter). The verb often occurs in this sense but is not so common as the noun rewrite designating such an article.
Adapt (for fuller treatment see ADAPT) implies a free alteration of the work of someone else to make it suitable for other readers or for another medium.