Nov 30 2020
Following the announcement that Penguin Random House parent company Bertelsmann won the bidding war for Simon & Schuster with a $2.2 billion offer, members of the book business and related organizations have begun to weigh in.
In a statement on Wednesday, the Authors Guild laid out its opposition to the proposed deal. The sale "would mean that the combined publishing house would account for approximately 50% of all trade books published, creating a huge imbalance in the U.S. publishing industry," the Guild said. (Penguin Random House's global CEO, Markus Dohle, told PW that he believes PRH's publishing market share is about 14.2% and S&S's 4.2%, including self-publishing; others have estimated the combined companies' market share would amount to roughly one third of the U.S. book market.)
The Funeral Cryer by Wenyan Lu
Debut novelist Wenyan Lu brings us this witty yet profound story about one woman's midlife reawakening in contemporary rural China.
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