Abstract:

Based on book publishers’ M&A and performances thereafter, this article provides a specific exploration on business models, profitability, threats and responses of four strategic groups in book publishing industry. Further analysis on strategy and focus of value creation finds 5 driven forces of M&A, including self-publishing, open access journal publishing,subscription,market share and technical innovation.In accordance to Grame K. Deans’  industrial life cycle model, the book publishing industry has stepped into the focus stage, while each group faces its own challenge.The industry may experience few M&As in the future,with some of which to be mega mergers.The benefit of A&Ms is vulnerable to dynamics of technology.