Random House and Penguin Merge!!!!
RANDOM HOUSE AND PENGUIN HAVE MERGED!
We posted an article a couple of days ago in regards to the possibility of two publishing power houses merging. Well doesn’t seem we had to wait long. The merger has already been signed. The deal still needs to be approved by regulators, but barring that it will occur.
What does this mean for us as Illustrators or Writers? Only time will tell. For sure though, like with any merger, there will be layoffs and consolidating of resources. There’s no way to know how the chips will fall and who will suffer or benefit under this change. But plan on seeing other large companies begin to take the same route into consideration, assuming they haven’t already.
Some would say this type of merger was an eventual outcome of the shrinking sales in traditional publishing as well as the burgeoning growth of the digital publishing world. It’s understandable that the larger publishers would begin hunkering down, merging power and combining resources to combat the shift in the existing markets.
So now the question remains how will this affect the publishing market as a whole and us as artists and writers? We’d love to hear your opinions and we’ll do our best to keep you updated.
For more details regarding this development see these articles.