Back in March, when ViacomCBS announced its intention to sell Simon & Schuster, we spoke with publishing consultant Thad McIlroy, who predicted that another major publisher would acquire the company, giving the US market a Big Four instead of a Big Five. It looks like that may come to pass. Bertelsmann—the parent company of Penguin Random House—has indicated interest. The CEO of Bertelsmann told the Financial Times (subscription required) that the publishing business model is “robust, the business resilient and profitable. It is a good cultural fit.” Bertelsmann is already experienced at handling large acquisitions: during the 2010s, it merged Penguin with Random House, and the resulting company is now the largest book publisher in the world. Bertelsmann’s CEO predicted there would be a wave of consolidation in the media sector once the pandemic has passed.
Jane Friedman has spent her entire career working in the publishing industry, with a focus on business reporting and author education. Established in 2015, her newsletter The Bottom Line provides nuanced market intelligence to thousands of authors and industry professionals; in 2023, she was named Publishing Commentator of the Year by Digital Book World.
Jane’s expertise regularly features in major media outlets such as The New York Times, The Atlantic, NPR, The Today Show, Wired, The Guardian, Fox News, and BBC. Her book, The Business of Being a Writer, Second Edition (The University of Chicago Press), is used as a classroom text by many writing and publishing degree programs. She reaches thousands through speaking engagements and workshops at diverse venues worldwide, including NYU’s Advanced Publishing Institute, Frankfurt Book Fair, and numerous MFA programs.
