Strategy: The Big Merge
In October, Random House and Penguin shocked the world (sort of) when they announced they would join forces and become the world's largest trade book publisher. We talked to industry experts to get at what it all means.
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Brian Howard
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"I think many of the executives see it as a way to grow," says McCarthy of the overarching motivation. "When they combine—and I don't have the precise numbers—they'll have anywhere between 25 and 40 percent of the market depending on if they have hits in a given year."
That kind of size will, of course, give them "leverage with people in the value chain. With Amazon in terms of negotiation, and, I don't think they would want to talk too much about this, but the bigger the pipe, the more negotiation power they have with authors and agents."
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