The Authors Guild is urging Bloomberg Press writers to reconsider signing a letter from John Wiley & Sons. Wiley acquired Bloomberg Press in March, and the company has sent a letter to hundreds of Bloomberg writers “about a few differences in the accounting systems of Bloomberg and Wiley.”
Here’s an excerpt from the Guild letter: “If signed by an author, the letter is actually a contract amendment that will materially and adversely affect the royalty rates of many Bloomberg Press authors. The Authors Guild strongly urges Bloomberg Press authors to not sign this letter without careful consideration. If you have received this letter, consult your agent or a publishing attorney or contact a lawyer in our legal department so you understand precisely how this amendment would affect your rights and royalties. Important: if you have already signed the letter and returned it to Wiley, contact our legal department immediately.”
UPDATE: Wiley has responded to our article with a short statement. Interested readers should check out the entire Guild letter here. We have also obtained a copy of the letter Wiley sent to Bloomberg authors. Read it below.