11-24-2020, 09:29 PM | #1 |
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Penguin S&S Random House?
I've seen a couple articles today about a possible sale of Simon and Schuster to Bertelsmann AG - owner's if Penguin Random House.
https://www.msn.com/en-us/money/comp...nn/ar-BB1bk1xF It feels like consolidation is happening faster and faster. Looks like S&S being shopped around was first mentioned here: https://www.mobileread.com/forums/sh...d.php?t=327827 |
11-24-2020, 09:57 PM | #2 |
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At what point do antitrust regulators start to object to consolidation like this?
(I'd argue the rise in non-big5 publishers that ebooks help enable might actually be beneficial to this merger's chances) |
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11-25-2020, 06:24 AM | #3 |
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So will they call the company PenguinS & Random HouseS?
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11-25-2020, 06:43 AM | #4 |
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SS Random Penguin sounds like a cool name for a Publishing House, a sinking ship whose world is threatened by change, like real penguins'
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11-25-2020, 08:32 AM | #5 | |
the rook, bossing Never.
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Quote:
The takeover / merger should go ahead. The resulting outfit needs to wakeup!
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11-25-2020, 09:22 AM | #6 |
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Given the way they just amalgamate names, surely they'll become "Penguin, Random, House, Simon and Schuster". Also a great name for a law firm.
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11-25-2020, 11:12 AM | #7 | |
the rook, bossing Never.
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https://edition.cnn.com/2020/11/25/m...use/index.html At least it's neither Corona or Election or Brexit news. Brexit is now facing a Wurst Kase scenario. |
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11-25-2020, 11:14 AM | #8 |
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The best name for a law firm is Dewey, Cheatem, Andhow.
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11-25-2020, 11:36 AM | #9 | |
o saeclum infacetum
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Last edited by issybird; 11-25-2020 at 11:39 AM. |
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11-25-2020, 11:42 AM | #10 |
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I think the Audible reference was in regard to Audible's return policy....which some authors think is overly generous to the customers. ie, they can listen to the book and still get their money back.
Amazon says they monitor for abuse behavior. But, Amazon is changing their policy to pay the author if a book is returned after more than a week. |
11-25-2020, 11:49 AM | #11 | |
o saeclum infacetum
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11-25-2020, 12:46 PM | #12 |
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This as well. I have no issue with visiting a couple of different stores regularly, but to go and browse any more sites every month to learn what's been released, no, thank you. No time for that. Besides, if those publishers start to insist on only reading their books in the app and disable downloads altogether, like HarperCollins does now, that would be far worse evil than Amazon.
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11-25-2020, 03:32 PM | #13 |
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Given the snarky nickname that the Penguin/Random House merger, I'm gonna go with "Simon the Randy Penguin" for the new company.
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11-25-2020, 05:04 PM | #14 | |
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I am quite satisfied with the artistic quality of the books I now read from Random House and S&S, so I can’t see an upside to further consolidation. |
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11-25-2020, 06:15 PM | #15 | ||||||
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Quote:
It is a done deal. $2.17B for a company grossing $835M a year and $143M net. https://www.vanityfair.com/news/2020...-except-itself Quote:
The publishing establishment is making a BIG DEAL about it but frankly, it's rather, meh. Expected and insignificant in the full context, despite the handwringing and usual "Blame Amazon". Details? The WSJ has some (paywalled): https://www.wsj.com/articles/penguin...hare_permalink Publishing Perspectives: https://publishingperspectives.com/2...2-175-billion/ And the Atlantic thinks it's Amazon's fault: https://www.theatlantic.com/ideas/ar...amazon/617209/ For proper context: https://variety.com/2020/biz/news/vi...le-1203523803/ Quote:
https://start.askwonder.com/insights...book-amtmjvosa Quote:
If anybody thinks the feds will even blink at this merger, they must live in NYC. As for Amazon having anything to do with CBSViacom ditching S&S, that is laughable. From the WSJ above: Quote:
Here is Forbes, last august: https://www.forbes.com/sites/noahkir...h=571db57c7b09 Quote:
Or books? I will concede that Bertlesmann paying $2.17B to outbid the Murdocks' Harper Collins (overpaying $700M) "might" in *their* mind somehow have something to do with Amazon, but if so they are deluded. Because the difference between a randy Penguin making up $2B of Amazon's book business and $2.4B isn't going to mean much to an Amazon moving $300B in merchandise. Like it or not, books are not that important. To Amazon, to the DOJ, to the world at large. To us, maybe, but not to the outside world. Of course, the people getting pink-slipped and the authors faced with one less bidder aren't going to be happy but that's life in a declining business. And tbey've all had six months warning. The real impact of this deal is ViacomCBS ditching dead weight and reducing its debt to better compete in the much bigger sea of oline video. Which, given its low valuation and big video archives, makes them a juicy takeover for anybody looking for a big video archive to support their subscription service. Netflix, Apple, and yes, Amazon. Or a corporate raider. This is but the appetizer. Last edited by fjtorres; 11-25-2020 at 11:05 PM. Reason: Typo. |
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