Perseus Book Group Split By Hachette and Ingram in Buying Tournament

When will the buying end?

Panzer was tootling around enjoying the view in the Catosphere. Suddenly, he heard yelling and screaming. Following all the cries, our brave kitty found himself at the Publishers' Weekly site. Digging around he found a post by Jim Milliot about Perseus Book Group. When he realized there was still more crying going on, he started digging again and found a second post.This post was by Rachel Deahl and also about Perseus Book Group.

According to the post by Jim Milliot, Hachette Book Group announced they are buying Perseus Book Group's publishing arm. Hachette wanted to expand into the non-fiction book market and the Perseus Book Group, in addition to their fiction and children's books, has a market in non-fiction.

According to the second post by Rachel Deahl, the Ingram Content Group announced they are buying Perseus Book Group's distribution arm. Ingram will use the purchase to increase their global distribution.

Panzer says, "Goodbye, Perseus Book Group. Pretty soon all the smaller publisher and distribution companies will be gone and there will only be one or two behemoths left."

Note: Since there are two posts today, bring a b-i-g cup of tea and two muffins.

To read the post about Hachette's acquisition of Perseus Book Group's publishing arm, tootle over to Hachette and Perseus

To read the post about Ingram's acquisition of Perseus Book Group's distribution arm, tootle over to Ingram and Perseus