The Trial: The DOJ’s Suit to Block Penguin Random House’s Acquisition of Simon & Schuster
In the book publishing tradition of preserving the full record of significant events and documents, THE TRIAL combines the significant day-by-day antitrust trial coverage and insider analysis from Publishers Lunch with an edited version of the full public testimony and other key pre- and post-trial documents and filings. As New York Magazine wrote: “It’s like the Mueller report for publishing dorks…. The definitive account of the saga.” Plus, for the first time, an appendix culls over 100 pages of the most significant, and insightful, internal documents and emails entered into evidence. At nearly 700,000 words, this massive compilation is certainly the most comprehensive discussion of publishing you will ever encounter, instructive and essential for everyone interested in the field.
- Dealmaking: The intricacies of auction practices — round robins; best bids; better-best — and the agents who think competitive submissions are not auctions at all.
- Marketing: The thinness of early promises and plans, the “glam budget,” and figures on marketing campaigns (where the largest trade publisher spends only 2 percent of revenues on marketing).
- P&Ls: Explained—or dubbed “really fake”—as the primary role of comps in setting the bar is discussed, and big-money deals and auctions are recounted.
- Plus: New bidding pledges are floated, code names are revealed (from Project Typeface to Silk), a very famous couple pursued an imprint deal, and new companies such as Zando, Spiegel & Grau and Astra are accorded much attention.