And meetings #2 and #3 are done with as well. Phew.
Got some interesting news today. I’m going to be handling ebooks for one of my accounts as well. It doesn’t make sense for P & E to be sold and handled as separate accounts but I’m hesitant to get excited because I’m still doing all of my old job as they haven’t hired a replacement.
Also on a totally unrelated note. One of our editors is leaving to go to an imprint that is going to be part of the Random/Penguin merger. Since they haven’t officially announced how they are handling the layoffs (heard a rumor that personnel is going to be the same split as the finances 53 RH/47 Penguin) I just don’t know if I’d be transferring in before the merger happened in case I’m jobless by October.
It’s been a tumultuous weekend in publishing.
High-level conversations began Thursday night after the Amazon-Goodreads announcement with a few furtive chats between U.S. heads of houses on burner phones and via handwritten notes folded into paper airplanes. Initially, HarperCollins and Hachette were in discussions to merge, while Simon & Schuster and Macmillan worked on an agreement to hook up. But soon those two groups began discussing a larger merger that would be a counterweight to Penguin Random House. That development alarmed executives at Random House and Penguin, who argued that there was a larger force to reckon with. As night fell on Easter Sunday, executives of the Big Six came to a historic agreement, after which they celebrated with a dinner at Picholine.
The CEOs of all six publishers will constitute a managing directorate and be co-co-co-co-co-co CEOs. Efficiencies resulting from the mergers will lead to downsizing in less essential areas such as editorial, publicity, sales and marketing, warehouse operations and customer service. In one of its first moves, Random Ha Ha/SSMac Penguin indicated that it is absorbing Bookish, which will be rebranded ReallyGoodReads.
While the new company has not received formal approval of the U.S. Justice Department, speaking yesterday at the White House at a ceremony honoring his appointment to the Amazon board of directors, Attorney General Eric Holder spoke favorably of the megamerger, saying, “Frankly I’m surprised that even with the lawsuit, it took publishers so long to understand that the Obama administration supports monopolies. With this change, we may have to revisit the e-book agency model pricing case.”
Reaction to the merger varied. Authors Guild president Scott Turow issued a statement decrying the move as “a further blow to the culture of diversity in our diverse culture” while several literary agents expressed concern that publishers will no longer offer “a diversity of bids” for clients’ work.






