From Publishers Weekly:
In what looks to be a response to declining mass market sales, Penguin has merged its Berkley imprint into the unified Putnam and Dutton group.
Ivan Held, previously named president of the merged Putnam and Dutton imprint, will now take over the direction of the Berkley Publishing Group. As a result of the changes, Leslie Gelbman, president of Berkley Publishing Group, is leaving the company at the end of January. Gelbman has been with the house for 27 years.
. . . .
On its surface the changes look as though PRH is trying to cut back its number of mass market titles, which have lost much of their market share to e-books. But, when asked about this, McIntosh emphasized that Berkley remains “committed” to publishing mass market paperbacks, while continuing to “refine the size of the list in order to ensure optimum results per title.”
When PW asked a Penguin spokesperson about the house’s strategy with mass market paperbacks, especially in light of the fact that they continue to decline in sales, the source said it would be “premature to definitely declare such a reduction today.” The spokesperson continued: “We will continue to review our mass market publishing program closely, in line with the distribution channels currently available for them.”
Link to the rest at Publishers Weekly and thanks to Valerie for the tip.
PG says this looks like another attempt by a publisher to consolidate its way to viability. He hopes not too many authors are orphaned in the process.