The trial to determine whether book publisher Penguin Random House can buy another of the “big five” publishers, Simon & Schuster, has come to an end after three months of legal wrangling, with a US judge blocking the sale.
The big five publishing houses — Penguin Random House, Hachette Book Group, HarperCollins, Simon & Schuster and Macmillan — publish 60 per cent of all English-language books globally.
The deal would have reduced that number to create the “big four”, with Penguin Random House, which recently announced it will be publishing Prince Harry's memoir, Spare, and Simon & Schuster controlling 25 per cent of the market.
Small publishers are being squeezed
As part of the trial, horror writer Stephen King testified as a witness for the US government’s Department of Justice, against the deal.
“I came because I think consolidation is bad for competition,” King reportedly said during his testimony on August 2. “That’s my understanding of the book business, and I’ve been around it for 50 years.”
King also spoke about the effect of conglomerates on smaller, independent publishers, saying: “The reason they’re being squeezed is because they don’t get the shelf space that they used to because the majors take a lot of that shelf space.”
King, the author of classics such as Carrie, It, and The Shining, spoke about how early on in his career he saw competition undermined by the big publishing houses.
Authors’ leverage would be adversely affected
Publishing used to be dominated by the “big six”, until the merger of Penguin and Random House in 2013.
In November 2020, Paramount Global announced it would be selling Simon & Schuster — publisher of bestselling writers such as Sandra Brown, Mary Higgins Clark and Martin Cruz Smith — to Random Penguin House — which publishes John le Carre, Margaret Atwood and Marian Keyes among others — in a $2.1 billion deal.
The US Justice Department sued to block the merger, stating that it would harm existing and new authors by reducing their leverage and bargaining power.
“Penguin Random House would control close to half of the market for the acquisition of publishing rights to anticipated top-selling books,” it wrote.
In her two-page order at the end of the trial, US Circuit Court Judge Florence Y Pan wrote: “The Court finds that the United States has shown that ‘the effect of [the proposed merger] may be substantially to lessen competition’ in the market for the US publishing rights to anticipated top-selling books.”
Median annual income for US authors drops to $6,080
While huge book deals and advances for famous authors such as Stephen King, J K Rowling, Gillian Flynn, Dan Brown and John Grisham make headlines, most authors barely make the minimum wage.
Pre-pandemic, the Authors Guild of America revealed that professional writers have all seen their income drop, particularly fiction authors — a 2019 survey found that their earnings have reduced by 43 per cent since 2013.
While J K Rowling’s net worth is estimated by the 2021 Sunday Times Rich List to be £820 million ($943.6m), the median annual income in all categories of US authors, collected pre-pandemic, in 2017, was $6,080, according to the Guild. A reduction of more than half since the average of $12,850, recorded in the guild's first earnings survey in 2007.
Amazon, too, has had a huge impact on the global book sales market. According to Forbes, Amazon accounts for 85 per cent of the self-publishing market — authors who do not go the traditional route of finding an agent and securing a book deal, but instead publish their works online and do their own marketing.
“It forces publishers to accept narrower margins and those losses get passed on to authors through lower advances and royalties,” said Forbes.
Random Penguin House called the ruling a “setback”.
“We strongly disagree with today’s decision, which is an unfortunate setback for readers and authors, and we will immediately request an expedited appeal.”
German intelligence warnings
- 2002: "Hezbollah supporters feared becoming a target of security services because of the effects of [9/11] ... discussions on Hezbollah policy moved from mosques into smaller circles in private homes." Supporters in Germany: 800
- 2013: "Financial and logistical support from Germany for Hezbollah in Lebanon supports the armed struggle against Israel ... Hezbollah supporters in Germany hold back from actions that would gain publicity." Supporters in Germany: 950
- 2023: "It must be reckoned with that Hezbollah will continue to plan terrorist actions outside the Middle East against Israel or Israeli interests." Supporters in Germany: 1,250
Source: Federal Office for the Protection of the Constitution
Cricket World Cup League 2 Fixtures
Saturday March 5, UAE v Oman, ICC Academy (all matches start at 9.30am)
Sunday March 6, Oman v Namibia, ICC Academy
Tuesday March 8, UAE v Namibia, ICC Academy
Wednesday March 9, UAE v Oman, ICC Academy
Friday March 11, Oman v Namibia, Sharjah Cricket Stadium
Saturday March 12, UAE v Namibia, Sharjah Cricket Stadium
UAE squad
Ahmed Raza (captain), Chirag Suri, Muhammad Waseem, CP Rizwan, Vriitya Aravind, Asif Khan, Basil Hameed, Rohan Mustafa, Kashif Daud, Zahoor Khan, Junaid Siddique, Karthik Meiyappan, Akif Raja, Rahul Bhatia
'Moonshot'
Director: Chris Winterbauer
Stars: Lana Condor and Cole Sprouse
Rating: 3/5
THE DRAFT
The final phase of player recruitment for the T10 League has taken place, with UAE and Indian players being drafted to each of the eight teams.
Bengal Tigers
UAE players: Chirag Suri, Mohammed Usman
Indian: Zaheer Khan
Karachians
UAE players: Ahmed Raza, Ghulam Shabber
Indian: Pravin Tambe
Kerala Kings
UAE players: Mohammed Naveed, Abdul Shakoor
Indian: RS Sodhi
Maratha Arabians
UAE players: Zahoor Khan, Amir Hayat
Indian: S Badrinath
Northern Warriors
UAE players: Imran Haider, Rahul Bhatia
Indian: Amitoze Singh
Pakhtoons
UAE players: Hafiz Kaleem, Sheer Walli
Indian: RP Singh
Punjabi Legends
UAE players: Shaiman Anwar, Sandy Singh
Indian: Praveen Kumar
Rajputs
UAE players: Rohan Mustafa, Ashfaq Ahmed
Indian: Munaf Patel
RESULT
Esperance de Tunis 1 Guadalajara 1
(Esperance won 6-5 on penalties)
Esperance: Belaili 38’
Guadalajara: Sandoval 5’
Bio
Born in Dibba, Sharjah in 1972.
He is the eldest among 11 brothers and sisters.
He was educated in Sharjah schools and is a graduate of UAE University in Al Ain.
He has written poetry for 30 years and has had work published in local newspapers.
He likes all kinds of adventure movies that relate to his work.
His dream is a safe and preserved environment for all humankind.
His favourite book is The Quran, and 'Maze of Innovation and Creativity', written by his brother.
MATCH INFO
Barcelona 2
Suarez (10'), Messi (52')
Real Madrid 2
Ronaldo (14'), Bale (72')
Last-16
France 4
Griezmann (13' pen), Pavard (57'), Mbappe (64', 68')
Argentina 3
Di Maria (41'), Mercado (48'), Aguero (90 3')
The biog
Mission to Seafarers is one of the largest port-based welfare operators in the world.
It provided services to around 200 ports across 50 countries.
They also provide port chaplains to help them deliver professional welfare services.
Friday's schedule in Madrid
Men's quarter-finals
Novak Djokivic (1) v Marin Cilic (9) from 2pm UAE time
Roger Federer (4) v Dominic Thiem (5) from 7pm
Stefanos Tsitsipas (8) v Alexander Zverev (3) from 9.30pm
Stan Wawrinka v Rafael Nadal (2) from 11.30pm
Women's semi-finals
Belinda Bencic v Simona Halep (3) from 4.30pm
Sloane Stephens (8) v Kiki Bertens (7) from 10pm
Scoreline:
Barcelona 2
Suarez 85', Messi 86'
Atletico Madrid 0
Red card: Diego Costa 28' (Atletico)
if you go
The flights
Emirates offer flights to Buenos Aires from Dubai, via Rio De Janeiro from around Dh6,300. emirates.com
Seeing the games
Tangol sell experiences across South America and generally have good access to tickets for most of the big teams in Buenos Aires: Boca Juniors, River Plate, and Independiente. Prices from Dh550 and include pick up and drop off from your hotel in the city. tangol.com
Staying there
Tangol will pick up tourists from any hotel in Buenos Aires, but after the intensity of the game, the Faena makes for tranquil, upmarket accommodation. Doubles from Dh1,110. faena.com
FROM%20THE%20ASHES
%3Cp%3EDirector%3A%20Khalid%20Fahad%3C%2Fp%3E%0A%3Cp%3EStarring%3A%20Shaima%20Al%20Tayeb%2C%20Wafa%20Muhamad%2C%20Hamss%20Bandar%3C%2Fp%3E%0A%3Cp%3ERating%3A%203%2F5%3C%2Fp%3E%0A
The specs
Engine: 2-litre 4-cylinder and 3.6-litre 6-cylinder
Power: 220 and 280 horsepower
Torque: 350 and 360Nm
Transmission: eight-speed automatic
Price: from Dh136,521 VAT and Dh166,464 VAT
On sale: now
The biog
Favourite book: You Are the Placebo – Making your mind matter, by Dr Joe Dispenza
Hobby: Running and watching Welsh rugby
Travel destination: Cyprus in the summer
Life goals: To be an aspirational and passionate University educator, enjoy life, be healthy and be the best dad possible.
