Wiley stands by contract changes after Authors Guild hits out

<p>The US Authors Guild has warned former Bloomberg Press authors not to sign a letter sent to them by John Wiley in the US, claiming it was a contract amendment that changed the way royalties were paid, <a href="http://www.publishersweekly.com/pw/by-topic/industry-news/publisher-news... target="_blank"><em>Publishers Weekly</em> reports.</a> But Wiley responded with a written press statement saying the calculations used by the Authors Guild were not accurate, and that it stood by the contract amends.</p><p>According to the AG, 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.&nbsp; The result of the change, the Guild said, would reduce author royalties by as much as 50%. The Guild also claimed Wiley was presenting the changes in a misleading manner, by dressing them up as &quot;a few differences in the accounting systems&quot;. </p><p>By using the phrase &quot;we are pleased to inform you that we will be paying royalties on the net amount received&quot; Wiley gives the impression that the change is beneficial to authors, the Guild said.</p><p>But Wiley hit back, saying (in italics): &quot;<em>This is simply not the case. </em>We believe former Bloomberg authors will be paid <em>higher</em> royalties in most instances.&nbsp; The limited number of contract amendments the AG apparently chose to select are not therefore representative; nor are their &#39;calculations&#39; accurate. In any event, Wiley stands by its offer to discuss their individual contracts with all affected authors.&nbsp; We are happy to address any questions and concerns they may have about their individual contracts.&nbsp; Wiley is committed to the Bloomberg authors and is confident we will provide the best possible working relationships for them.&quot;</p>