November 22, 2012

The Book Publishers Can't Beat Amazon

Sarah Lacy, Pando Daily


AP Photo

Still profitable, but under serious threat from Amazon and the shifting digital sands beneath their feet, publishers are opting to fight back by merely getting bigger. Random House and Penguin are tying up in a $2 to $3 billion deal, and the Wall Street Journal reports that HarperCollins and Simon & Schuster are mulling a deal as well. This would leave an industry already dominated by six big publishing oligarchs even cozier — and significantly more lopsided with two big giants and two smaller companies.

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