Over the past week, a public dialogue has ensued about Wiley's communications with the group of 117 authors joining us from Bloomberg. After a useful and productive exchange of ideas, we concluded that the best way to proceed is to call each and every one of these authors to make sure they understand the changes that we have proposed. If any of them are uncomfortable with our proposed changes, they can choose to retain their original Bloomberg contracts.As I said yesterday, "You rock, Authors Guild!"
The Authors Guild recently proposed to Wiley that we wait until the next royalty period to complete a sample comparison of royalty payments to authors under the Wiley proposal and the existing Bloomberg contract. While we recognize the intent of their proposal, we believe our approach is more timely and in the best interests of our authors.
Wiley shares a common objective with the Authors Guild, to treat authors well and fairly. Our Company is well known for excellent relationships with our authors-—a reputation we have earned and will work hard to retain.
Wednesday, June 16, 2010
Update On Authors Guild v. Wiley & Sons
I'm just going to post yesterday's press release from Wiley, which I think says it all: