Text publishing bought by Penguin Random House. Exciting, right?
29 January 2025
Independent Melbourne based Australian book publisher Text Publishing was recently acquired by Penguin Random House Australia, a subsidiary of Penguin Random House (PRH), one of the world’s largest publishers. While the move has been hailed as “exciting” by Text and PRH, some literary commentators do not feel the same way.
Both parties say they are committed to retaining Text’s independence as a PRH imprint, but this isn’t always the long term outcome, says Misha Ketchell, writing for The Conversation:
But history shows that mergers often result in the dissolution of the smaller imprint. To take just one example, Penguin no longer publishes books under the McPhee Gribble imprint. It is precisely the question of which readerships the merged version of Text will cater to that will worry Australian readers and supporters of independent publishing.
Text obviously have their reasons for making the deal, and their independence as a PRH imprint appears to be hard wired into the acquisition agreement. Those concerned about the future of independent book publishing in Australia have reason to be fearful though. Text joins other previously standalone local publishing houses, Affirm Press, and Pantera Press, in being bought out by larger book publishers in 2024. Australia is running low on indie publishers.
RELATED CONTENT