Authors fear the worst if Penguin owner takes over Simon & Schuster

Analysis: if Bertelsmann, owner of Penguin Random House, buys US publisher, writers expect smaller deals and less choice for readersUK watchdog investigates Penguin owner’s Simon & Schuster takeoverJokes circulated online when, in 2013, Penguin and Random House merged: would the new mega-publisher, which became the world’s biggest trade publishing group, be known as Random Penguin? Penguin House? Now, as the prosaically named Penguin Random House’s parent company Bertelsmann’s $2.17bn acquisition of Simon & Schuster comes under scrutiny in the UK, the jokes are fewer and further between.Authors have made it abundantly clear that they fear the fallout if the deal goes ahead. When it was first announced last November, the Authors Guild in the US was quick to register its objections. The acquisition, which would bring heavyweight S&S authors including Hillary Clinton, John Irving, Stephen King and Bob Woodward under the PRH umbrella in the US, would “creat[e] a huge imbalance in the US publishing industry”, it warned, calling on the US justice department to step in. Continue reading... Continue reading at 'The Guardian'

[ The Guardian | 2021-03-22 23:24:23 UTC ]

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