While the publishing industry continues to grow and change, bookworms, professionals and news reporters alike have taken notice. The following two articles recently published by the New York Times discuss current events taking place in the publishing industry.
Boris Kachka discussed the largest book-publishing merger in history in his article, titled “Book Publishing’s Big Gamble.” The PenguinRandomHouse merger, completed on July 1, creates a new publishing landscape. Kachka lists Penguin Random House as “the world’s first truly global trade book publishing company.” The former “Big Six” publishing houses in the United States has been changed to the “Big Five,” leaving the door open for other publishing mergers, as well. With the digital reading revolution changing the field and the recent defeat by Amazon in the antitrust lawsuit over e-book prices, publishers have to find new ways to remain current and gain higher profits- including merging with former competitors.
As Amazon continues to succeed with e-book sales and creations, writer Julie Bosman, sheds light on the collapse of Barnes & Noble’s e-reader operations division. In her article, “Fork in the Road for Barnes & Noble,” Bosman details Barnes & Noble’s poor, digital earnings report, which led to the announcement that they would no longer create color tablets. William Lynch, Barnes & Noble’s chief executive, positively spearheaded the digital campaign in January 2012 that lasted only 16 months. In 2009, the company introduced the Nook, its first black-and-white e-reader and has been Mr. Lynch’s resignation leaves Barnes & Noble in limbo with what to do next. introducing its first black-and-white e-reader in 2009, and then a line of inexpensive color tablets. Chairman of Barnes & Noble, Leonard Riggio, has now taken the reigns and may steer the company back into physical bookstores, much to the happiness of traditional, print readers.
The New York Times is a wonderful source of information about events in the publishing industry, as well as for their reknown Book Reviews and Bestseller sections. Students interested in subscribing to the NYT should take advantage of their College Rate subscriptions- 50% off the original price!