Big Six Become Big One
It's been a tumultuous weekend in publishing.
Following the purchase of Goodreads by Amazon and reports that the European Union will approve the Random House-Penguin merger--which has already been blessed by antitrust regulators in the U.S., Australia and New Zealand--American publishers jumped on the consolidation bandwagon. The result, announced late last night: the merger of the Big Six into a single U.S. mega-publisher. As one senior publishing executive said, "If you can't beat 'em, become 'em."
High-level conversations began Thursday night after the Amazon-Goodreads announcement with a few furtive chats between U.S. heads of houses on burner phones and via handwritten notes folded into paper airplanes. Initially, HarperCollins and Hachette were in discussions to merge, while Simon & Schuster and Macmillan worked on an agreement to hook up. But soon those two groups began discussing a larger merger that would be a counterweight to Penguin Random House. That development alarmed executives at Random House and Penguin, who argued that there was a larger force to reckon with. As night fell on Easter Sunday, executives of the Big Six came to a historic agreement, after which they celebrated with a dinner at Picholine.
"In the interests of a semblance of competition," the publishing giant said it will have two operating groups. One, under the aegis of Random House, combines HarperCollins and Hachette and will be called Random Ha Ha, while the other, under Penguin, comprises Macmillan and Simon & Schuster, and will be called SSMac Penguin.
The CEOs of all six publishers will constitute a managing directorate and be co-co-co-co-co-co CEOs. Efficiencies resulting from the mergers will lead to downsizing in less essential areas such as editorial, publicity, sales and marketing, warehouse operations and customer service. In one of its first moves, Random Ha Ha/SSMac Penguin indicated that it is absorbing Bookish, which will be rebranded ReallyGoodReads.
While the new company has not received formal approval of the U.S. Justice Department, speaking yesterday at the White House at a ceremony honoring his appointment to the Amazon board of directors, Attorney General Eric Holder spoke favorably of the megamerger, saying, "Frankly I'm surprised that even with the lawsuit, it took publishers so long to understand that the Obama administration supports monopolies. With this change, we may have to revisit the e-book agency model pricing case."
The creation of a single mega publisher will have many ramifications in the business. For example, while the new house may not take as much space overall at BEA as it would separately, its five booths are still likely to be one of the largest sections at the Javits Center. Parties during BEA may be held at the same site on consecutive nights, serving the same food and drink.
Reaction to the merger varied. Authors Guild president Scott Turow issued a statement decrying the move as "a further blow to the culture of diversity in our diverse culture" while several literary agents expressed concern that publishers will no longer offer "a diversity of bids" for clients' work.
In the spirit of the holidays, several observers noted a Holy Week parallel, saying that while the publishing industry had recently been crucified by Amazon and the Justice Department, through the merger it has been resurrected. Others drew inspiration from Passover, which also took place during the past week, and, of course, celebrates the people of the book's liberation from slavery and their trek to the Promised Land. --John Mutter








Explaining Barnes & Noble's disappointing third-quarter results during a conference call with investors in February, CEO William Lynch noted a new trend that is upending the bookselling giant's long-term strategic plans and calling for a soul-searching reevaluation of what it means to be a bookseller in the 21st century.
B&N's competitors are facing the same dilemma. During the gala presentation of Amazon's first e-reader, CEO Jeff Bezos had said, "We believe we will not be selling books within two weeks after the Kindle hits shelves."
Apple CEO Tim Cook offered a similar assessment, saying, "Books are not well designed. There is no index system, you can't 'bookmark' portions or highlight passages or transfer the content from one user to the next. The infrastructure required for use and storage lacks clarity."
Drawing on nearly 30 years of experience as a publisher for all things sustainable and seeking to flourish in a fertile genre, Chelsea Green Publishing is using some of the proceeds from its record-breaking sales year of 2012 to launch
Less than a year after scientists found a way to
The fallout from the Amazon purchase of Goodreads continues. This morning, from his new home in the Cook Islands, Goodreads co-founder Otis Chandler issued a statement saying that he is retroactively withdrawing all public remarks and data shared at conferences and on panels the last seven years. He added that he would like to deny that the move has anything to do with the Amazon purchase but hadn't yet been cleared to say so by the corporate communications department in Seattle.
The lead title will be 50 Shades of Will Grayson, Will Grayson by John Green and David Levithan. "Why should New Adult be relegated to Chick Lit?" said Levithan and Green. Their story centers on will grayson and Tiny falling in love when the curtain goes down on Tiny's autobiographical high school musical. Tension develops with Will Grayson when Tiny starts spending all his time with will grayson, and neglects his longtime best friend. Weiss said a musical based on their romance called Cuff Me, Will Grayson, Will Grayson will be produced in tandem; it's scheduled to open this season at the Actors Temple Theater in Manhattan.
Exploring the possibility of tapping into a lucrative new market, Nike has begun test-marketing its prototype "Nike Readers" line of book-themed casual shoes in several Paris bookshops. A Nike spokesman said the shoe line is "meant to expand the public's perception of the Nike lifestyle, while incorporating some of the more dynamic aspects of a reading life. Comfort and fashion make these shoes an intelligent choice for the well-read consumer, while generous margins give booksellers a high-end, internationally branded sideline option."
The creators of CBS TV's hit reality-competition show The Amazing Race! are currently developing a spinoff series called The Amazing Author Book Tour!, which will pit two dozen writers against each other in a series of "readings" nationwide as they race for precious "bookmarks" to build up points and stave off elimination. During the competition, clues--or "plot points"--are provided that lead the authors to their next event sites, which will include bookstores, libraries and "exotic, surprise locations to be determined." Bonus bookmarks are also awarded based upon audience evaluations of the "readings" in four categories: content, presentation, interaction and attitude.
Comedian and actor
For many readers and writers, making a living reviewing books can be a dream job. And as more and more opportunities develop to offer opinions, especially online, the market for skilled book reviewers is growing. In the 23rd edition of Book Reviewing for Dummies, prolific reviewer Todd Rutherford starts with the basics: Read a book and then think about whether you liked it; this is called "forming an opinion." Depending on where the review will be published, the reviewer may need to back up his or her "opinion" with actual facts. Rutherford recommends making notes as you read the book you will be reviewing. This can be done, he instructs, using technology, such as small pieces of paper called "sticky notes." (This won't work as well, however, if you're reading the book on a screen of some sort.) This note-taking process will help the reviewer distill a whole bunch of information into a few pithy words.