Last week Pearson, the owner of Penguin Books, bought one of the largest grassroots publishers, Author Solutions, based in Indiana, in the US, for £74m. The idea is that Pearson will no longer have to rely on spotting ebook hits early; instead, they will own a new author's work from the first moment it appears on screen.
My mind is spinning... PEARSON has acquired Author Solutions?
Fascinating.
Seems like (just from the quote above) The Guardian has it all wrong. Author Solutions doesn't own the books any more than the Post Office owns your mail. They just deliver it.
Random House used to own part of Xlibris, which was aquired by Author Solutions, so it's interesting, but not ground-breaking.
Posted by: StoryADayMay | July 24, 2012 at 12:04 PM