From Scott Turow for The Authors Guild:
Here’s our storm-delayed member alert on last Monday’s unsettling announcement that Random House and Penguin, the two largest trade book publishers in the U.S., are merging.
Although Random House has said that the combination would control 25% of the book market, that appears to significantly understate things. The companies’ share of the U.S. trade book market for fiction and narrative non-fiction likely exceeds 35%. Their share in certain submarkets is no doubt even higher. The merger merits close scrutiny from antitrust officials at the Justice Department or the FTC.
. . . .
“Survival of the largest appears to be the message here,” said Scott Turow, Authors Guild president. “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.”
Link to the rest at The Authors Guild