Nourry predicts further consolidation

<p>The book publishing industry will have to consolidate if it is to stand up to Amazon, Google and a few other dominant retailers of electronic books, according to the chief executive of Hachette Livre. Arnaud Nourry said publishers needed to be big to maintain their pricing power in &quot;brutal&quot; talks with the handful of booksellers that would dominate the digital age.</p><p>&quot;We are at the beginning of the process of transformation where size and the capacity to impose viable business models will be essential,&quot; he told the <em>Financial Times</em>. <br /><br />The French publishing house is considered a likely bidder for Simon &amp; Schuster, one of the top four US trade book publishers, should owners CBS decide to sell.</p><p>&quot;We are still small,&quot; he added. &quot;Our [US] market share is only 5 or 6 per cent and that is not very big when you have to talk with Amazon, Barnes &amp; Noble, perhaps one day Google.&quot;</p><p>Nourry said it was now looking to move into Russia, by acquiring a local publisher, and China, where it is in &quot;advanced&quot; negotiations to set up a joint venture with one of the biggest Chinese houses.<br /><br /><br /><br /></p>