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Will The Marriage Of Penguin & Random House Send Book Prices Soaring?
November 1, 2012 | 11:50 pm
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They’re going to the chapel and they’re gonna get married: Book publishers Penguin and Random House will become one after their parents company complete an upcoming merger. If the merging of companies in other industries is any indication, this new union could produce higher book prices as the two cease competing, as well as a possible dearth in the selection of titles.
Source: The Consumerist
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Comments:
Oh good, when a few huge companies combine to form even fewer huger companies, customers always get better service, wider selection, and lower prices. Just like with cable TV, Internet, cell phones, banks, and airlines — all known for their fantastic customer service!
There’s simply too much competition, particularly in popular fiction, for the prices to inflate too much.
However, the same can’t be said of the stranglehold this pairing will do to authors. The big publishers have been brutal to authors in contract terms, and this will only become worse with the consolidation of the two monster houses.