Wiley says Bloomberg authors can retain old contracts

<p>Wiley has said that those Bloomberg authors affected by its proposed contract changes can now remain on the old contracts should they choose to. <a href="../news/120734-authors-guild-stands-by-claims-against-wiley-contract.html" target="_blank" title="http://www.thebookseller.com/news/120734-authors-guild-stands-by-claims-... follows a public row with the US Authors Guild over the new contracts</a>, with the AG initially warning authors not to agree to the new arrangements. Wiley in turn accused the AG of putting out &quot;incorrect&quot; information.</p><p>However, a new Wiley statement has attempted to draw a line under the row. It stated: &quot;Over the past week, a public dialogue has ensued about Wiley&#39;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.&quot;<br /><br />Wiley - which took over the Bloomberg programme earlier this year - is seeking to move the royalty rate from being based on the list price to being based on net receipts. The result of the change, the Guild said, would reduce author royalties by as much as 50%. But Wiley said it believed Bloomberg authors would be paid higher royalties in most instances, since the discounting of business titles meant royalty rates under the old contracts would have been lowered anyway.<br /><br />However, Wiley has declined a Guild suggestion of waiting until the next royalty period to complete a sample comparison of royalty payments to authors under the Wiley proposal and the existing Bloomberg contract. Wiley said: &quot;We believe our approach is more timely and in the best interests of our authors.&quot;</p>