ViacomCBS agreed to sell the 96-year-old company in a deal that potentially creates a megapublisher. A spokesman for Bertelsmann said Penguin Random House had lost market share in recent years and cited Amazon as a competitive threat to the overall book market. The combination of Penguin Random House and Simon & Schuster would be “below 20 percent,” the company said, citing data from the Association of American Publishers, an industry trade group.
What does this mean for readers and authors? Some of your favorite historical romance authors who are under Penguin contracts are Evie Dunmore, Mary Balogh, Amy Rose Bennet, and others. From Simon & Shuster are Julia London, Meridith Duran, and others. The pricey eBook prices from these two traditional publishers of $7.99 and up are no doubt competing with the lower-priced historical romance novels from independent authors on Amazon. The competition for readers is fierce, and the industry is changing to survive.