Book Publishers Poised for M&A, Says Providence Equity's Napack
The book industry, rattled by the surge in e-book sales through online retailers, is poised for consolidation, said Brian Napack, a former Macmillan president and senior advisor at Providence Equity Partners.
"We're in a major battle right now for the future of the industry," Napack said Wednesday at BookExpo America, the industry's annual convention held at the Javits Center in New York. "It will be very difficult for the existing major players to stand alone in the face of growing scale because they are competing for the same authors and competing for the same distribution channels. There are only so