The failure of a recent bid to merge two large publishing companies shines a light on a central issue of cultural powerDespite a rise in self-publishing, commercial publishers are still the main gatekeepers of what arrives on our bookshelves. As such, they have great cultural and – if a book takes off – economic power. A case decided in a US court this week provided an insight into just how much of that power is now concentrated in a small handful of multinational companies.At issue was a planned merger of Simon & Schuster with Penguin Random House (PRH) – two of the so-called big five, which between them control 90% of the US publishing market, a fact not always obvious to the casual observer, as books usually carry on their spines the names of imprints, or subdivisions, of the parent company. PRH, itself the result of a mega-merger in 2013, runs about 300 imprints. Given the reach of these companies – PRH is active in more than 20 countries – the Department of Justice’s successful argument that the planned $2.2bn deal would “exert outsized influence over which books are published in the United States and how much authors are paid for their work” applies globally. Continue reading... Continue reading at 'The Guardian'
[ The Guardian | 2022-11-04 18:25:28 UTC ]
Between January 1 and June 30, Penguin Random House saw its international revenues rise by 9 percent year over year, to €2.1 billion. The post PRH: 9-Percent International Revenue Gains, January-June appeared first on Publishing Perspectives. Continue reading at Publishing Perspectives
[ Publishing Perspectives | 2023-08-30 13:08:32 UTC ]
More news stories like this
Despite a tumultuous first half of 2023 that included major buyouts and some layoffs, sales at Penguin Random House rose 9.5% in the first six months of 2023 over the comparable period in 2022. Operating earnings increased slightly, by €1 million. Continue reading at Publishers Weekly
[ Publishers Weekly | 2023-08-30 04:00:00 UTC ]
More news stories like this
DeBin previously served as deputy director of Portland's Literary Arts, as well as a national account manager at Random House, Simon & Schuster, and Penguin Young Readers. Continue reading at Publishers Weekly
[ Publishers Weekly | 2023-08-24 04:00:00 UTC ]
More news stories like this
The Philippines in 2025 will become the second Southeast Asian book publishing market to be a Frankfurt Book Fair guest of honor. The post Rights Edition: Frankfurt Names the Philippines Its 2025 Guest of Honor appeared first on Publishing Perspectives. Continue reading at Publishing Perspectives
[ Publishing Perspectives | 2023-08-18 14:58:54 UTC ]
More news stories like this
Jess deCourcy Hinds hopefully predicts a new trend in book publishing: the librarian memoir. | Lit Hub Libraries “It’s like someone hitting you on the side of the head. It’s marvelous.” Former Velvet Underground frontman Lou Reed talks to Allan Jones about making an unlistenable album. | Lit Hub... Continue reading at Literrary Hub
[ Literrary Hub | 2023-08-11 10:30:06 UTC ]
More news stories like this
Former Penguin Random House CEO Markus Dohle and Ethan Mollick, associate professor at the Wharton School and author of the newsletter 'One Useful Thing,' will present keynote addresses at PW’s Artificial Intelligence: Revolution and Opportunity in Trade Publishing webinar on September 27. Continue reading at Publishers Weekly
[ Publishers Weekly | 2023-08-11 04:00:00 UTC ]
More news stories like this
In big news for bodies keeping the score and also bibliotherapy, Simon & Schuster have announced the November 7 release of actor Megan Fox’s debut poetry collection, Pretty Boys Are Poisonous, with imprint Gallery Books. Per the press release: “These poems were written in an attempt to... Continue reading at Literrary Hub
[ Literrary Hub | 2023-08-08 16:42:42 UTC ]
More news stories like this
The sale comes after Paramount failed to sell the book publishing giant to Penguin Random House. Iconic American publishing company Simon & Schuster has a new owner. On Monday, the publisher was acquired by private equity firm KKR in a $1.62 billion deal. Here’s what you need to know.Read... Continue reading at Fast Company
[ Fast Company | 2023-08-08 08:50:00 UTC ]
More news stories like this
Led by another good performance by its audiobooks division and "fantastic" results in the U.K., operating income rose 14% at Simon & Schuster in the second quarter ended June 30, 2023 over the comparable period last year. Continue reading at Publishers Weekly
[ Publishers Weekly | 2023-08-08 04:00:00 UTC ]
More news stories like this
Simon & Schuster has been sold to the private equity firm KKR, months after a federal judge blocked its purchase by rival publisher Penguin Random House because of concerns that competition would shrink the book market Continue reading at ABC News
[ ABC News | 2023-08-08 02:22:18 UTC ]
More news stories like this
The acquisition of Simon & Schuster by KKR, Jonathan Karp says, is enhanced by KKR's interest in company growth and employee equity. The post KKR Agrees To Buy Simon & Schuster for $1.62 Billion appeared first on Publishing Perspectives. Continue reading at Publishing Perspectives
[ Publishing Perspectives | 2023-08-07 21:40:44 UTC ]
More news stories like this
Paramount announced Monday that it's selling the storied publisher for $1.62 billion, months after a sale to Penguin Random House was blocked by a federal judge. Continue reading at Los Angeles Times
[ Los Angeles Times | 2023-08-07 21:27:31 UTC ]
More news stories like this
PEN America says it sees book publishing 'at a crossroads' in a new report warning of cancel culture, review-bombing, and book banning. The post Beyond Book Banning: PEN America Warns of ‘Booklash,’ Self-Censorship appeared first on Publishing Perspectives. Continue reading at Publishing Perspectives
[ Publishing Perspectives | 2023-08-07 21:16:27 UTC ]
More news stories like this
Paramount Global has sold the publisher after a federal judge blocked rival Penguin Random House from buying itSimon & Schuster has been sold to the private equity firm KKR, months after a federal judge blocked its purchase by rival publisher Penguin Random House because of concerns that... Continue reading at The Guardian
[ The Guardian | 2023-08-07 21:05:30 UTC ]
More news stories like this
The private investment firm KKR, HarperCollins, and Richard Hurowitz of the investment firm Octavian & Company are all said to still be in contention to acquire the country's third largest trade publisher. Continue reading at Publishers Weekly
[ Publishers Weekly | 2023-08-04 04:00:00 UTC ]
More news stories like this
The U.A.E.'s Kalimat Group and Penguin Random House India have entered into a partnership to translate books from Arabic to English and English into Arabic, for global distribution. Continue reading at Publishers Weekly
[ Publishers Weekly | 2023-08-01 04:00:00 UTC ]
More news stories like this
Rachel Goldstein has been promoted to executive v-p at Penguin Random House Publisher Services, the publisher's distribution arm, which services more than 50 publishers. Continue reading at Publishers Weekly
[ Publishers Weekly | 2023-08-01 04:00:00 UTC ]
More news stories like this
Leveraging a translation-exchange model, Kalimat Group and Penguin Random House India and Southeast Asia open a partnership. The post A PRH-Kalimat Partnership: South and Southeast Asian, Arabic, English appeared first on Publishing Perspectives. Continue reading at Publishing Perspectives
[ Publishing Perspectives | 2023-07-31 16:57:00 UTC ]
More news stories like this
The 2023 Publishing Perspectives Forum opens on October 18 with an onstage conversation with Penguin Random House CEO Nihar Malaviya. The post At Frankfurt: PRH’s Nihar Malaviya Headlines Publishing Perspectives Forum appeared first on Publishing Perspectives. Continue reading at Publishing Perspectives
[ Publishing Perspectives | 2023-07-27 14:15:46 UTC ]
More news stories like this
Cassidy Hutchinson, a former assistant to both Donald Trump and Mark Meadows, sells a memoir to Simon & Schuster, and Amistad buys a book by couture designer B Michael about his friendship with actor Cicely Tyson. Continue reading at Publishers Weekly
[ Publishers Weekly | 2023-07-21 04:00:00 UTC ]
More news stories like this