"Consolidation carries costs you won’t find on a price sticker. Dozens of formerly independent firms have been folded into this conglomerate: not just Anchor, Doubleday, Dutton, Knopf, Pantheon, G. P. Putnam’s Sons and Viking, which still wield significant resources, but also storied names like Jonathan Cape, Fawcett, Grosset & Dunlap, and Jeremy P. Tarcher. Many of these have been reduced to mere imprints, brands stamped on a book’s title page, though every good imprint bears the faint mark of a bygone firm with its own mission and sensibility.
"Decades of consolidation have cost writers and consumers alike. There is, for one, the persistent gripe of writers and agents: companies either forbid (as at Penguin) or restrict (at Random House) their constituent imprints from bidding against one another for a manuscript. That means not only lower advances, but also fewer options for writers to get the kind of painstaking attention — from editors, marketers and publicists — that it takes to turn their manuscripts into something valuable.
"Among the imprints that survive, the tendency is to homogenize and focus on a few general fields like ambitious nonfiction, accessible literary fiction or thrillers. “Legacy” publishing does best in the first category: it commands the advances needed for research, the editing talent to shape the writing and the marketing muscle to distribute those doorstop biographies on Father’s Day.