Are Publishers Even Necessary?
In the ongoing feud between the major publishing houses and Amazon, Yglesias has no sympathy for the publishers: Wisdom on this subject begins with the observation that the book publishing industry is not a cuddly craft affair. It’s dominated by a Big Four of publishers, who are themselves subsidiaries of much larger conglomerates. Simon & Schuster is owned by CBS, HarperCollins is owned by NewsCorp, Penguin and RandomHouse are jointly owned by Pearson and Bertelsmann, and Hachette is part of an enormous French company called Lagadère. These are not tiny, helpless enterprises. Were their owners interested in the future of … Read more