An article in yesterday's London-based Financial Times provides a peek at the initial stages of merger talks that are going on between two of the big six publishers—Penguin and Random House. The merger would, according to the article, "create a global market leader in response to the strategic challenges of the fast-growing e-book business."
This leaves me with all questions and no answers. If the merger goes through (and there's serious doubt about that at the moment, since restraint of trade might be raised as an issue), will the new company find a way to recapture the good parts of the traditional publishing industry? More editors; more opportunities for quality products through industry-based (i.e. editorial) attention; more marketing support; more depth of purpose regarding not only surviving and making a profit, but understanding the full market and establishing a stronghold where authors can rely on the system? If wishes were horses . . .
Could this be a beginning, or might it be an end, or just more of the same with a larger corporation? Will this matter to anyone who is not part of these two giant companies? What are your thoughts?
I hadn't heard of this. Not sure it'll give authors more options. It might be just one less big six publisher opportunity. Thanks for letting us know about it.ReplyDelete
The merger would result in a loss of jobs and fewer book deals. I can't see how the larger corporation will benefit anyone.ReplyDelete
You're probably right, Stina. sigh, at least about the jobs overall. Until more details are forthcoming, I think it's tough to speculate accurately about what a restructuring would look like or result in, though.Delete
Oh, I'm afraid that this merger will be done for efficiencies, not growth. We'll see what they bring. Interesting times. But many jobs lost. Cut backs. Etc.ReplyDelete
That seems to be the prevailing wisdom, Karlene, and for good reason. Sometimes I feel like a hopeful salmon swimming upstream!Delete
OMG, no way!ReplyDelete
Yes, way, Laura, at least at the moment. But it's early days, and 'no way' might just be what happens!Delete