Very big news this morning at Random House, where new-ish CEO Markus Dohle has announced a corporate restructuring.
Your imprint musical chairs is as follows. There are now three big umbrellas on the adult side. “Little” Random (retaining the title Random House Publishing Group), Knopf (now the Knopf Doubleday Publishing Group) and Crown (the Crown Publishing Group). Random is absorbing Bantam Dell and Doubleday’s Spiegel & Grau, Knopf is absorbing Doubleday, and Crown is absorbing Broadway and Doubleday’s business/religious imprints. Publishing veterans Irwyn Applebaum and Steve Rubin will be stepping down.
And of particular note (and the subject of much agently wondering): the groups will still be bidding independently in auctions, meaning a hypothetical three possible group bids. Although, of course, there are now fewer groups, meaning that there are fewer possible industry-wide bidders than there used to be. Editorial imprints within will still remain independent, but, of course, will not be bidding against each other within their group.
My heart goes out to anyone affected by the restructuring.