Investing
Amazon Buys Mystery And Romance Publisher--Will Random House Be Next?
Published:
What does Amazon (NASDAQ: AMZN) want with a small publisher of mystery, romance, and Western novels? None of the 3,000 titles owned by Avalon Books is online now. Amazon must believe there is a market for musty old novels.
The world’s largest e-commerce company reported that
Amazon Publishing has acquired the publication rights from Avalon Books to over 3,000 backlist titles predominantly in the Romance, Mystery and Western categories
That is not really the same as buying Avalon, so there must be a reason for the legal distinction.
The press release also included the following
“I’ve been running Avalon Books–which was founded by my father–since 1995, and it is time for me to explore the next chapter of my life,” said Ellen Bouregy Mickelsen, Publisher of Avalon Books. “I chose Amazon Publishing because they care deeply about the writers, readers, and categories that have long mattered to our family business and they are uniquely positioned to assure that our titles make the leap forward into the digital future”
Or, maybe the decision was based on the fact that Amazon was the only buyer.
Douglas A. McIntyre
Get Ready To Retire (Sponsored)
Start by taking a quick retirement quiz from SmartAsset that will match you with up to 3 financial advisors that serve your area and beyond in 5 minutes, or less.
Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests.
Here’s how it works:
1. Answer SmartAsset advisor match quiz
2. Review your pre-screened matches at your leisure. Check out the advisors’ profiles.
3. Speak with advisors at no cost to you. Have an introductory call on the phone or introduction in person and choose whom to work with in the future
Get started right here.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
