News of merger talks between book publishers Random House and Penguin has shaken loose alarmist responses from the book industry: howls from agents and authors that they’ll have fewer publishers to pitch to, and hence their incomes will fall; warnings that editors and marketers face huge layoffs; fears that reducing the number of big publishers from six to five will bestow upon the survivors unprecedented cultural hegemony.
Somewhere somebody must be describing the impending merger and the increased concentration of book power in fewer New York hands as an assault on democracy.
If the admonitions seem familiar, it’s because they’ve been sounded for a half century. The book industry has been consolidating steadily since the early 1960s, when independent publishers–many of them run by families–swarmed. A July 31, 1960, New York Times article (subscription required) chronicled that era’s merger-mania, as independent publishers Holt, Rinehart, and Winston had hooked up to create a new company—Holt, Rinehart, and Winston—that sounded like a law firm. In other transactions, Random House had acquired Knopf and Crowell-Collier had taken Macmillan, presaging the coming days when conglomerates would eventually swallow the industry’s major players.
“The mergers have, in some cases, meant consolidation of clerical and shipping staffs,” the Times article reported.
Yet the number of big publishers has remained fixed at six since the mid-1980s suggesting that for all the shouting, the consolidation of the industry has been exaggerated.