This morning, Jim Milliot reports that Perseus has received signed agreements from “more than 10” ex-PGW publishers. Presumably, this is the 70 cents on the dollar reimbursement in exchange for four years of distribution deal that was bandied about like a tainted carrot to the PGW publishers left in the lurch. This does not mean that Perseus has acquired PGW, but Perseus’s goal is to grab 65% of the PGW clients before the February 12 hearing date. Under the deal, the publishers will retain ownership of their inventory, if not their sunny dispositions.
Month / January 2007
Roundup
- Hitch on One Hundred Years: “For this reader, the most arresting episode in the Macondo saga was the epidemic of insomnia that afflicted the tribe.”
- The Esquire Napkin Project features contributions by A.M. Homes, Jonathan Ames, Aimee Bender, Andrew Sean Greer, and many more authors.
- James Gibbons on Paul Auster: “Novelists, of course, are not obliged to occupy themselves with a fine-grained depiction of external reality, so in remarking on the abstract terrain of Auster’s books I mean primarily to underscore how anomalous his success is. Simply put, neither American writers nor American readers tend to go in for the kind of fiction that Auster has made his specialty, and it’s unsurprising that Auster enjoys not just wide readership but also prestige internationally, particularly in France, that well exceeds his critical reputation in the United States.” (via The Publishing Spot)
- Jeff VanderMeer opines that BSG is beginning to suck. I agree. And yet when Annalee Newitz boldly put forth this proposition late last year, she was greeted by a torrent of denouncements from mad fanboys. The question is when this artistic declivity will be recognized by the more rabid BSG viewers. I don’t know whether to give up on the show or hope that it will get better. I keep watching, but only when I am suffering from insomnia or my brain power has depleted to near zero. Ron Moore has not written a single episode this season other than the two-hour premiere, and I suspect that he’s abdicated on his duties. Do we really need a BSG spinoff? I’d rather see attentions directed towards one good show instead of two substandard ones.
- Charlie Stross on the writer’s lifestyle. (via Speedysnail)
- Flickr has forced its users to get Yahoo IDs. Small wonder that Fotolog has overtaken Flickr. Treat your users as if they are prisoners forced to register for a stalag and they go elsewhere.
- What kind of reader are you? Me? I’m a “Dedicated Reader.” (via Bookblog)
- Sidney Sheldon has passed on, forcing readers to find another prolific hack writer to read on airplanes.
- Flatland: The Movie! (via Books, Inq.
- Over at Mark’s place, Daniel Olivas talks with Daniel Alarcón.
- The Existence Machine on Children of Men.
- Oh! My! Goodness! Radio! Radio! Radio! (via Condalmo)
The Latest on Perseus, PGW & AMS
A former Perseus employee has emailed me, observing the following: Perseus is more concerned with the distribution end of the business rather than the publishing end. This reader also suggests that Barnes & Noble, which sometimes excludes particular titles that aren’t distributed by Sterling, is a shadier example of vertical integration than a prospective PGW/Perseus merger. (As an anonymous publisher reported to Holt Uncensored back in 2003, Sterling began to cut orders from 500 or more down to 100 or less for publishers who weren’t “team players.”)
Because B&N has been able to maintain such a business practice along these lines without any apparent antitrust suits (at least none that I am aware of), this may set a Perseus-friendly precedent for any prospective Perseus-PGW merger. Indeed, I suspect it would be quite easy for a lawyer to craft a disingenuous argument suggesting that an antitrust situation would only exist if an entity controlled all three aspects of the book business: publishing, distributing and selling.
This reader goes on to suggest that Perseus has “found the loophole” by focusing its efforts on book distribution. After all, assuming that your accountants haven’t underreported revenue or hidden the cash a la Sorrento Mesa, book distribution makes money.
A large question mark now hovers over a definitive Perseus-PGW coupling. This morning, PW‘s Jim Milliot reports that there were two additional offers in addition to Perseus’s. AMS’s primary lender, Wells Fargo Foothill, however, has permitted “one more opportunity to consummate a going concern sale.” (And has one of the two offers, as Radio Free PGW suggests, come in from the Chas Levy Company?) AMS, meanwhile, has postponed its annual meeting (apparently, “annual” means little to AMS; they haven’t held an “annual” meeting in four years) to February 23, due to shareholder Robert Robotti’s resignation.
The Book Standard‘s Kimberly Maul reports that Robotti has been replaced by Marc E. Ravitz as AMS Director, coming in from Grace & White (who had a 10% stake in AMS in 2006).
McSweeney’s has issued a public statement, noting, “From here on out, the slate will be clean again and you can count on the standard percentage of your book-buying dollars to go to us publishers. What’s that you say? Would it help for you all to buy books now, during this lean time? Well, sure—it would. We and all the others in this situation do best with these direct transactions, and we promise to deliver top-notch books in return.”
Meanwhile, the publishers have until February 7 to file objections to buyout offers — this, as Perseus’s 70 cents on the dollar offer to indie publishers in exchange for four years of distribution lays on the table. It remains uncertain whether the other two buyout offers have instituted a similar form of blackmail distribution bailout, but I’ll be tracking all developments as they come.
The Death and Life of a Great American City?
Robert Sullivan: “For the past two decades, New York has been an inspiration to other American cities looking to revive themselves. Yes, New York had a lot of crime, but somehow it also still had neighborhoods, and a core that had never been completely abandoned to the car. Lately, though, as far as pedestrian issues go, New York is acting more like the rest of America, and the rest of America is acting more like the once-inspiring New York.”
BSS #92: Christopher Moore
Condition of Mr. Segundo: Contemplating his vampiristic sensibilities.
Author: Christopher Moore
Subjects Discussed: WordStar word processors, using the nouns “monkey love” and “guy,” Midwestern vernacular, trying to figure out the ten year interval between Bloodsucking Fiends and You Suck, San Francisco topography, George Romero, Bullitt, the 42-Downtown bus loop, invented references vs. real references, Abby Normal’s perspective, Lautréamont’s Maldoror, Goth kids, Near Dark, vampire violence, dialogue vs. description, deadlines, narrative pace, the “book a year” demands of publishers, writing big books vs. little books, research, living up to Lamb, the burdens of having a mass audience, Basket Case vs. Citizen Kane, ambitious narratives, marketing vs. writing, answering email, living up the goals of being a commercial writer, Andrew Weil, “drive-bys,” on achieving balance, oscillation, Moore’s “mistress,” the last time Moore took a vacation, writer’s block, on being clueless, William Gibson, Jack Womack, on being a “piece of crap” vs. being a “master of the universe,” John Steinbeck, avoiding reviews, and boob flashing.
EXCERPT FROM SHOW:
Correspondent: Since you’re a funnyman, that would probably keep the pace going because someone’s pausing to laugh. I don’t know. I’m just wondering why you avoided metaphor — aside from pace.
Moore: Don’t even think about it.
Correspondent: Yeah?
Moore: Yeah. You’re applying way too much analytical — the kind of thing that happens in deconstructive analysis of literature that doesn’t happen when you write a book. I don’t think, “Oh, I’m going to put much less metaphor in this book.” It’s just: you write what occurs to you at the time. I would say probably that if I were to tell you what was the reason? The reason: the first book I didn’t have a deadline; this one, I did.
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