Publishers swallowing other publishers is nothing new. In the 1980s, you couldn't move for acquisitions – Penguin bought Michael Joseph and Hamish Hamilton; in the 90s, Random House consumed a raft of august lists – Secker & Warburg, Heinemann, Methuen in a fire sale by Reed Elsevier. Tindal Street Press, the independent champion of Booker shortlisted authors, was bought by Profile Books only this week. So why is everyone so hot under the collar about "Random Penguin" (as it is now known in the trade), announced this week?
Read Full Article »
