Wednesday, July 25, 2012

IF YOU CAN’T LICK ‘EM . . .

You know the old saying, “If you can’t lick ‘em, join ‘em.”

The Associated Press reports:

One of the world's biggest publishers, Pearson, has purchased one of the biggest self-publishers. Pearson announced Thursday that it had acquired Author Solutions Inc. for $116 million. Author Solutions, a Bloomington, Indiana-based company that has released self-published works by some 150,000 authors, will become part of the Pearson-owned Penguin Group (USA).

The success of such self-published writers as E.L. James and Amanda Hocking has encouraged traditional publishers and the online retailer Amazon.com to seek out authors who can build word-of-mouth followings. Penguin chief executive John Makinson said in statement that buying Author Solutions "will allow Penguin to participate fully in perhaps the fastest-growing area of the publishing economy."

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