There is big news in the self-publishing world you might want to check out…
Penguin has pushed into the booming self-publishing market by acquiring Author Solutions, based in a Bloomington, Ind., for $116 million, the two companies said on Thursday.
Publishers, aware of the rise of self-published authors like the novelist Amanda Hocking, have scrambled to gain access to the big pool of people who are determined to release their own work without the blessing of a traditional publisher. The hope for Penguin is that some successful books, and promising authors, will emerge from the sea of titles it is acquiring.
“We at Penguin have been looking at the growth of the self-publishing industry for the last three years at least,” John Makinson, the chief executive of Penguin, said in a conference call with reporters on Thursday. “It has become a very much more professional area of publishing activity.”
The two brands – Penguin and Author Solutions – will operate separately, executives said….More at Penguin Acquires Self-Publishing Company – NYTimes.com
Over the years, Author Solutions has purchased iUniverse, Wordclay, AuthorHouse, AuthorhouseUK, Xlibris, AuthorHive, TraffordPublishing, Palibrio and Hollywood Pitch. They have the same philosophy of charging authors royalties on books the author purchases.
Local publishing services are important to promote local independent bookstores and local independent authors.