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Archives for November 2020

The Opposition

November 30, 2020
By Michael Cader

The announcement of Penguin Random House’s agreement to acquire Simon & Schuster was met quickly with a number of statements and articles in opposition. The Authors Guild (it’s “creating a huge imbalance in the US publishing industry”) and the American Booksellers Association (it “will mean too much power over authors and readers in the hands […]

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Verso Books Employees to Unionize

November 30, 2020
By Michael Cader

Employees of Verso Books announced that on November 25 they got voluntary recognition from management to join The Washington-Baltimore News Guild. The statement says, “In the coming weeks, they will begin contract negotiations.” Following “a concurrent unionization effort by the workers of Verso’s UK office” those employees are represented by the National Union of Journalists […]

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People, Etc.

November 30, 2020
By Erin Somers

Sarah Bonamino has been promoted to publicist at St. Martin’s Publishing Group. Cecilia Lyra has joined P.S. Literary Agency as associate literary agent. She was previously associate literary agent at The Rights Factory. Literary agents Lester Hekking and Rik Kleuver have joined the management team at Sebes & Bisseling Literary Agency. Picks Jenna Bush Hager‘s Read With Jenna book […]

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Penguin Random House to Buy Simon & Schuster for $2.175 Billion

November 25, 2020
By Michael Cader

ViacomCBS announced Wednesday morning that it has a definitive agreement to sell Simon & Schuster to Penguin Random House for $2.175 billion in cash, “from existing liquid funds.” The transaction is expected to close in 2021, with S&S ceo Jonathan Karp telling staff that will “likely” happen “in the second half of 2021 at the […]

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Hachette Book Group Will Increase Starting Salaries to $45,000

November 25, 2020
By Erin Somers

Hachette Book Group will join Penguin Random House in increasing starting salaries to $45,000 in its most expensive locations. Salaries in HBG locations with lower cost of living will start at $41,000. The new salaries will take effect February 2021, at the company’s normal salary review period, and adjacent salaries will also be adjusted. A […]

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Audible Will Pay Author Royalties for Audiobooks Returned After Seven Days

November 25, 2020
By Sara Grace

Responding to strenuous objections from authors and a number of groups that represent writers, Audible will reduce the extent to which their liberal returns and exchange program is conducted at authors’ expense. Starting in January, Audible will only debit authors’ earnings for audiobooks returned within seven days of purchase. Previously, an author who distributed their […]

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