12 Random Penguin Merger Predictions
Sorry, I mean the Penguin Random merger. I so like random penguin…
Of course the future may hold surprises regarding the Random House/Penguin Group blending… (See: Christie/Obama..)
But some writing is pretty visibly on the wall, saltwater wash notwithstanding.
1.) Authors and agents will worry (justifiably) and object (fruitlessly).
As Scott Turow, president of the Author’s Guild, notes: “Penguin Random House, our first mega-publisher, would have additional negotiating leverage with the bookselling giants, but that leverage would come at a high cost for the literary market and therefore for readers. There are already far too few publishers willing to invest in nonfiction authors, who may require years to research and write histories, biographies, and other works, and in novelists, who may need the help of a substantial publisher to effectively market their books to readers.”
2.) Nothing visible will happen for a while. Behind the scenes, the accountants and lawyers will get very busy. [Read more…]