Wednesday, November 25, 2020

The "Big Five" May Soon Become "Big Four"!

At some time next year Bertelsmann, the media conglomerate that already owns Penguin Random House, will in all likelihood purchase Simon & Schuster for $2.17 billion. The proposed sale is, however, "subject to regulatory approval." 

Such a move can only make things more difficult for authors and agents, particularly new talents struggling to "break in." The Authors Guild has spoken out against the proposed transaction, and News Corp, which owns HarperCollins, also voiced opposition. It remains to be seen whether the U. S. Department of Justice will take a position.

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