Mergers between companies is happening at at more and more frantic pace these days, at least it seems to me. In this day and age, I’m not so sure it’s necessarily a good thing. Take the Comcast/Time Warner Cable merger. If it goes through, one cable company will have nearly 45% of the entire cable tv/internet market. In a nation where people outside of metropolitan areas(and sometimes inside) have only one ISP/TV provider, this looms even larger as the monopoly is really is.
For authors, the biggest merger news is the that Hachette(the same guys that are in the news fighting with Amazon) have bought Pegasus Books. This is the fourth largest publisher(Hachette) buying the sixth largest(Pegasus). Big companies for big dollars. But like any merger that happens in the corporate world, I’m sure jobs will be cut, positions redefined, and soforth.
For unpublished authors, this means another publisher you might have had a chance to get your book out through is gone. I firmly believe there’s still a place for traditional publishing in this ultra-modern internet age, but I’m afraid that one day but one company will hold all the strings. That means, fewer new authors get published, few agents to pitch too, fewer chances for a new writer to shine.
This article shares someone’s experiences in the publishing world that went through a merger. I found it both informative and insightful. And, if I may, a little disquieting.
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J S Eaton