Penguin scraps $2.2bn deal to buy rival publisher
bbc.co.uk – Tuesday November 22, 2022
Publishing giant Penguin Random House has scrapped a $2.2bn (£1.9bn) planned takeover of rival Simon & Schuster.
Last month, a US court blocked the deal, saying it could "substantially" weaken competition in the industry.
Penguin's parent company Bertelsmann said Paramount Global, the owner of Simon & Schuster, decided not to appeal the ruling.
The proposed deal would have cemented Penguin Random House's position as the world's largest book publisher.
"We believe the judge's ruling is wrong" the company said in a statement.
"However, we have to accept Paramount's decision not to move forward," it added.
‘Very scary time’ for Irish book publishers as print and paper costs soar
irishtimes.com – Monday November 21, 2022
Irish book publishers say it is a “very scary” time for the industry, with supply chain issues and the rising cost of paper and printing putting significant pressure on profitability.
Ivan O’Brien, managing director of O’Brien Press, said the company’s costs have risen “massively”, with increases of about 50 per cent.
“As we got squeezed from every other angle, print availability at a reasonable cost was something that we could rely on, and that is now gone,” he said.
“Timelines have also extended substantially, with another couple of weeks added to the schedule for most projects. Prices will have to go up, but it is unlikely that the market will take the level of increase required for the numbers to work. It’s very scary.”
Redfern returns to publishing to join Headline
thebookseller.com – Wednesday November 16, 2022
Martin Redfern, currently executive director at Northbank Talent Management, will be joining the non-fiction team at Headline Publishing Group as publisher on 6th February 2023.
Redfern has been a literary agent for nearly six years and is responsible for the agency’s non-fiction books representation. His clients include Iain Dale, Chris Mason, Paul Brand, Brian Cox, Anthony Seldon and Camilla Cavendish.
Before that, as editorial director at HarperCollins and BBC Books, Redfern published authors ranging from Peter Mandelson, John Major and Simon Schama to Jonathan Dimbleby, Dan Snow and Tom Burgis.
UK faces ‘serious loss of writing talent’ due to rising costs, Writers’ Guild survey finds
thebookseller.com – Wednesday November 16, 2022
The UK is facing a “serious loss of writing talent” due to the rising cost of living, a survey conducted by the Writers’ Guild of Great Britain (WGGB) has found.
Of 250 writers surveyed by the trade union, 55% said that rising energy and food costs were impacting their ability to sustain a writing career, with other factors including having less time to work as a writer, or apply for funding, development schemes or other opportunities.
More than two thirds (67%) reported having to rely on their savings in order to manage day-to-day expenditure, while 37% said they had to rely on their partners’ earnings. Moreover, more than 70% of respondents had earned £18,000 or less for their writing work in the last financial year. The majority (over 80%) said they were freelance writers.
Publishers happy ever after as sales of romantic fiction keep on climbing
sundaypost.com – Sunday November 13, 2022
One of Scotland’s best-selling novelists will celebrate nine million sales this week as publishers report surging sales of romantic fiction.
Publishers from around the world will join Jenny Colgan to mark the multi-million copy milestone spanning her 30 happy-ever-after novels, which have been translated into 26 languages and enjoyed by fans around the world.
Publishers suspect readers are seeking uplifting, heartwarming escapist reads more than ever with romantic fiction, in particular, enjoying a huge uplift and love stories accounting for 26% of the titles in the Sunday Times best-sellers’ chart, up from 18.6% last year.
Frankfurt 2022 from a Children's Book Perspective
publishersweekly.com – Saturday November 5, 2022
For many rights professionals, the recent Frankfurt Book Fair was their first opportunity since 2019 to attend a fair in person. Attendees said they were delighted to be back, even amid industry challenges and world uncertainty on several fronts. We spoke with a number of savvy agents and scouts about their impressions of the fair, and asked them to talk about trends they were noticing.
“It was wonderful to be back at a fair, and to be among so many fellow book people again,” said Sara Crowe, senior agent at Pippin Properties. “Being back in Frankfurt was energizing, emotional, and re-affirming,” said Rachel Hecht, founder of Rachel Hecht Children’s Scouting. “There is no replacement for the in-person connections to be made over tables while gasping over sample spreads, or the bolt of joy from waving down an old colleague while rushing between stands. We are a community of book people who thrive when we gather, and while Zoom is a convenient tool, it cannot replicate the alchemy that happens during a fair.
Publishing: The Cancel Mob Targets Amy Coney Barrett's New Book | Mind Matters
mindmatters.ai – Sunday October 30, 2022
Last year, Mind Matters News covered the new phenomenon of publishing house staff going to war against the publisher’s own books. It’s a far cry from the days when publishers might have to defend their books in a courtroom. Last year the target was, among other authors, best-selling psychologist Jordan Peterson.
We were informed by Maclean’s Magazine that “Employees at Penguin Random House Canada speak out on how they’re rethinking their workplaces and why publishing, writ large, should weigh its moral responsibilities” in connection with Peterson’s latest, Beyond Order: 12 More Rules for Life (Penguin 2021).
The book did get published, despite them, to five star reviews. But Cancel Culture staff continue to lead the charge for “depublishing” and have succeeded with many less well known targets. Orwell Prize-winning author Kate Clanchy’s memoir was Canceled by its original publisher (though acquired by another. Blake Bailey’s biography of author Philip Roth was Canceled by W.W. Norton due to the author’s and subject’s Me Too sins. Young adult author Jessica Cluess was Canceled after she defended literary classics.
The latest attempt at big-name Cancelation is aimed at U.S. Supreme Court justice Amy Coney Barrett. Early in 2021 she was signed by Penguin’s Sentinel imprint to write a book on her judicial philosophy and the reasoning behind her decisions.
The Moth and Caterpillar magazines to cease publishing but prizes will continue
thebookseller.com – Thursday October 27, 2022
Arts and literature magazines the Moth and the Caterpillar will cease publishing next summer, its directors have announced, but the four literary prizes associated with the magazines will continue with increased prize pots.
Directors Rebecca O’Connor and Will Govan said: “We will have had 13 happy years. It feels like the right time to focus on things other than the publications.”
Govan said back issues of both magazines will be sold online so people can complete their vintage collections.
Dodd steps up at ASH Literary
thebookseller.com – Wednesday October 26, 2022
Agency assistant at Saffron Dodd is being promoted to associate agent at ASH Literary, focusing on middle-grade and YA titles.
Taking up the new role on 1st January 2023, Dodd will be building her own list, prioritising UK creators, alongside agency founder Alice Sutherland-Hawes.
Sutherland-Hawes said: “Saffron joined the agency at the start of 2022 and has made a lasting impact on our clients and the work we do. Her passion and joy for the work has been wonderful to witness and I am so excited for her future with the agency. I can’t wait to welcome her clients to ASH Literary.”
‘Terror’ stopping great work from being published in the UK, Pike warns
thebookseller.com – Sunday October 23, 2022
Arabella Pike, publishing director at HarperCollins’ William Collins, has warned that UK publishers’ “terror” is preventing “some very great work” from being published.
Speaking alongside the founder of Silkworm Books, Trasvin Jittidecharak, and Niko Pfund, president and academic publisher of Oxford University Press USA on a panel entitled “Non-fiction Publishing in the Age of Misinformation” at the Frankfurt Book Fair yesterday (20th October), Pike described the fear of being targeted as a result of a publication as “the chill factor” and argued greater safeguards were needed to prevent abuses of the British legal system such as she experienced.
“The chill factor and the fear that people have is stopping some very great work emerging,” she said. “It varies depending on which part of the world you’re in, but this is something that’s very much happening in the UK. It’s happening in newsrooms and in publishers; people are too terrified to tackle these responsibly published books.”
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