From Nathan Bransford:
Now that Workman has been acquired by Hachette and Houghton Mifflin Harcourt has been acquired by HarperCollins, where have all the midsized book publishers gone? Jim Milliot at Publishers Weekly surveys this dying breed and cites the difficulty of building a backlist, the capital needed to grow into midsized publisher, and ongoing acquisitions by bigger players, but there are still publishers like Kensington who are holding on by focusing squarely on their niche.
Link to the rest at Nathan Bransford
PG suspects that midsized book publishers are having the same financial problems as the rest of traditional publishing is experiencing. The small folk just don’t have the financial resources that the big publishers do.
When a little publisher is swallowed by a big publisher, those people working at the little publisher who aren’t fired outright get new bosses and any promises the survivors made to the little publisher’s authors disappear into the wind.
If a commitment is not inserted into a written contract, for virtually all legal purposes, it doesn’t exist. Certainly, it doesn’t exist for the big company because it took over the rights and obligations in the written contract.
That said, PG suggests that the big publishers are facing exactly the same market forces that battered the little publishers into selling out.
The Titanic will take longer to sink than a fishing boat.
PG apologizes for the sloppy Photoshop job, but he was in a hurry.