The blogs were alive with chatter this morning. And not of the bubbly, exciting kind.
The big news is Random House’s decision to reorganise their imprints Doubleday and Bantam Dell by moving them into other divisions of the company. Bantam publisher Irwyn Applebaum has left the imprint, as has Doubleday publisher Steve Rubin.The move will probably result in more job cuts and eventually consolidation of the imprints so less competition.
In more Houghton Mifflin Harcourt news (earlier this month they froze acquisitions), the executive editor, Ann Patty, has been fired along with other employees. Only the day before head of the combined adult trade division, Becky Saletan, quit the company. The owner of HMH, Education and Media Publishing Group, has said that they are fielding enquiries from other publishers interested in buying HMH.
I’m not an expert on financial matters or the publishing industry so I don’t want to make any grandiose statements about what this all means. A lot of other companies at this time are laying off staff and retreating to their bunkers. In my humble opinion, the industry has needed something to shake it up and this might be the start of some really big changes. What does everyone else think?