AppNewser Appdata 10,000 Words FishbowlNY FishbowlDC TVNewser TVSpy LostRemote AgencySpy PRNewser MediaJobsDaily UnBeige SocialTimes

Penguin

Authors Guild Calls for ‘Close Scrutiny’ of Penguin Random House Deal

The Authors Guild has responded to the news of the upcoming Penguin Random House merger, calling for “close scrutiny from antitrust officials at the Justice Department or the FTC” before the publishers combine forces.

The Guild feels that the super-publisher will control more than 35 percent of the “fiction and narrative non-fiction market,” a worrisome development for the group.  Authors Guild president Scott Turow had this comment:

Survival of the largest appears to be the message here … Penguin Random House, our first mega-publisher, would have additional negotiating leverage with the bookselling giants, but that leverage would come at a high cost for the literary market and therefore for readers. There are already far too few publishers willing to invest in nonfiction authors, who may require years to research and write histories, biographies, and other works, and in novelists, who may need the help of a substantial publisher to effectively market their books to readers.

Captain Random House Responds to Publishing Merger

As news of the Penguin Random House merger emerged last week, the satirical Captain Random House Twitter feed resurfaced with a stream of tweets.

This morning, the feed broadcast ten new rules for the publishing house and we’ve collected these humorous posts below…

If you need more Random Penguin House humor, check out the booming Random Penguin meme and the Penguin House tweets.

Read more

Random House & Penguin To Merge

The major publishers Random House and Penguin have decided to join forces, creating a new entity called Penguin Random House. Random House worldwide CEO Markus Dohle will be CEO of the new group. Penguin CEO John Makinson will chair the board of directors.

Bertelsmann (the corporate parent of Random House) will control 53 percent and Pearson (the corporate parent of Penguin) will control 47 percent of the new publisher. The new entity will not include Bertelsmann’s German trade publishing business and Pearson decided to “retain rights to use the Penguin brand in education markets worldwide.” Bertelsmann CEO Thomas Rabe had this comment in the release:

“With this planned combination, Bertelsmann and Pearson create the best course for the future of our world-renowned trade-book publishers, Random House and Penguin, by enabling them to publish even more effectively across traditional and emerging formats and distribution channels. It will build on our publishing tradition, offering an extraordinary diversity of publishing opportunities for authors, agents, booksellers, and readers, together with unequalled support and resources … Its significance for our business and for the cultural resonance of our book publishing operations worldwide is on a par with such momentous agreements as the takeover of Goldmann Verlag in 1977; the acquisition of a stake in Bantam Books, our first-ever U.S. investment, that same year; the purchase of Doubleday in 1986; and especially that of Random House in 1998. Each of these steps was aimed at increasing the breadth and quality of Bertelsmann’s publishing operations, as our new company will.”

The new company will combine all of Random House and Penguin’s business in the United States, Canada, the U.K., but it will also publishing business in Australia, New Zealand, India, South Africa, China, Spain and Latin American.

Follow this link to read the Pearson release, explaining how the merger “will generate synergies from shared resources such as warehousing, distribution, printing and central functions.”

 

Penguin House Meme Spreads on Twitter

When news broke that Random House and Penguin could merge, readers, writers and publishing professionals filled Twitter with a burning question: Should this hypothetical publisher be called Random Penguin or Penguin House?

We collected the Random Penguin meme yesterday, exploring the #RandomPenguin hashtag that swept Twitter. Supporters of Penguin House have reminded us that we should not ignore the #PenguinHouse hashtag–including the Penguin House logo from Shelf Awareness (embedded above).

What name do you prefer? For your Friday afternoon reading pleasure, you can read our Storify collection of Random House images, tweets and posts below…

Read more

Random House & Penguin News Spawns Random Penguin Meme

As the publishing world processes the news that Random House and Penguin could merge, Twitter has been filled with amusing posts from authors, readers and publishing professionals.

Novelist Kameron Hurley shared a series of Random Penguin images (including the image embedded above). We’ve collected some of our favorites in a Storify post below…

What was your favorite Random Penguin post? Share your thoughts at the #RandomPenguin hashtag on Twitter.

Read more

Random House & Penguin Consider Combining Forces

Today Pearson confirmed that the publishing company is considering “a possible combination of Penguin and Random House.”

Pearson had this statement: “Pearson confirms that it is discussing with Bertelsmann a possible combination of Penguin and Random House. The two companies have not reached agreement and there is no certainty that the discussions will lead to a transaction. A further announcement will be made if and when appropriate.

Financial Times (a newspaper owned by Pearson) has a report from three anonymous sources today that Bertelsmann (the corporate parent of Random House) and Pearson (the corporate parent of Penguin) could unite their book publishing efforts.

Read more

Robert Gottlieb Responds to Penguin Lawsuit: ‘Authors Beware’

The Smoking Gun broke the news that Penguin has sued a number of authors “who failed to deliver books for which they received hefty contractual advances.”

The list of writers includes Elizabeth WurtzelAna Marie Cox and Herman Rosenblat. Trident Media Group chairman Robert Gottlieb wrote a scathing comment on the story.

Check it out: “Penguin this is wrong headed. Authors beware. Books are rejected for reasons other than editorially and publishers then want their money back. Publishers want to reject manuscripts for any reason after an author has put time and effort into writing them all the while paying their bills. Another reason to have strong representation. If Penguin did this to one of Trident’s authors we could cut them out of all our submissions.”

Read more

Maya Banks Inks 7-Figure Deal for Erotica Trilogy

Romance novelist Maya Banks has landed a 7-figure deal with Penguin’s Berkley Books imprint. Starting in 2013, Berkley will release a new erotica trilogy by Banks (pictured, via)–the Breathless series.

Book one, Rush, will hit bookstores in February 2013. The sequels Fever and Burn will follow in April 2013 and August 2013. Executive editor Cindy Hwang negotiated the deal with Trident Media Group literary agent Kimberly Whalen.

Here’s more from the release: “In this new trilogy Banks brings her talent for writing edgy, seductive, and darkly sexual novels to a story that will appeal directly to a wide group of readers.  The series follows three billionaires—Gabe Hamilton, Jace Crestwell and Ash McIntyre—who are best friends and business partners.  The men dominate both in the boardroom and in the bedroom.  Each novel in the trilogy will explore the relationship of one of the men as he discovers the woman he will love.”

Read more

Marilyn Ducksworth Sues Penguin Over Age Discrimination

After almost three decades serving as a publicist for Penguin, Marilyn Ducksworth, resigned last week. According to Ducksworth, she is the victim of age discrimination.

The Washington Post has the story: “Fifty-six-year-old Marilyn Ducksworth filed papers Wednesday with New York’s Supreme Court asking for lost pay and punitive damages. She resigned last week after 27 years with Penguin and says in her lawsuit that older colleagues had been demoted and forced out in favor of younger employees and that she was ostracized after protesting the changes.”

The publisher denied the allegations releasing the following statement: “We can state categorically that it was Marilyn Ducksworth’s decision to resign and that Penguin does not condone, nor was there, any age discrimination or retaliation involved in her decision to leave.” (Via Sarah Weinman).

Publishers to Pay $69M in eBook Pricing Settlement

55 attorney generals from different states, districts and U.S. territories have reached an agreement with HarperCollins, Hachette and Simon & Schuster in the ongoing litigation over eBook pricing.

According to the terms of the deal, consumers who bought an eBook from any of the “Agency Five” publishers during April 1, 2010 until May 21, 2012 will receive compensation.

Hachette, HarperCollins and Simon & Schuster will pay consumers who purchased eBooks from any of the five agencies accused of price fixing, including Macmillan and Penguin, who have yet to settle. Payments will begin 30 days after the settlement gets its final court approval.

Read more

<< PREVIOUS PAGENEXT PAGE >>