Statement by Townsend Hoopes, President, Association of American Publishers / Townsend Hoopes.

This is one of several papers presented at a Federal Trade Commission Symposium on Media Concentration. It describes the state of book publishing today and comments on antimerger statements made by the Authors Guild of America. Statistics are cited to show that the number of active book publishers serving national and international markets is greater than ever before in our history, books have never been in more plentiful supply and have never reflected greater diversity of subject matter or treatments, and authors have never been more numerous or better rewarded. Figures are analyzed to show that the 50 largest publishing firms hold only 75% of the market and are highly competitive compared to other industries, where a few companies may dominate the market. It is also noted that book publishing mergers have not reduced the number of competitive companies in the industry, and it is argued, contrary to the fear of the Authors Guild, that large companies can actually take greater risks with unknown authors than can small firms. Subsidiary rights to book club publications of a title are defended as an economic necessity. (MKM)

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