The Book Biz
The Penguin Group is suing some pretty high profile authors to recoup some of their advance money, The Smoking Gun reports.
Since an advance is really more of a gamble than a guarantee (authors can be hard to rely on! You can’t rush the creative process! Sometimes editors cancel books!), historically publishers have not held authors accountable. But it is a difficult time for publishing companies and they can probably use all the cash they can get.
Lease of the Week
When Kim Guadagno heard that the media and publishing giant Pearson was relocating from its longtime headquarters in Upper Saddle River, N.J., the first thing she recalled was a promise she had made.
Ms. Guadagno, New Jersey’s lieutenant governor and secretary of state, had been walking months earlier with Dawn Zimmer, the mayor of Hoboken, along that city’s waterfront.
Not included in Pearson’s announcement last week to relocate from its headquarters in Upper Saddle River, New Jersey, was news of an expansion the firm has secured at 330 Hudson Street in Manhattan, The Commercial Observer has learned.
Amazon and Penguin came to an agreement on e-book pricing Wednesday, settling a dispute that dated back to early April, when the publisher’s previous Kindle agreement expired.
The conflict stemmed from Amazon’s instance on a $9.99 price point for digital versions of new releases, and the bookseller soon began a scorched earth Read More
Penguin Group CEO John Makinson wrote an op-ed for today’s Wall Street Journal on the meaning of e-books.
Steering mostly clear of the trickier challenges facing the publishing industry (authors would like higher royalties, while consumers would like lower prices–”fair enough”), he tackles a sentimental (but still important!) issue: How do you Read More