markus dohle

Two of the largest publishing houses have demonstrated again that when authors like Stephenie Meyer or Stieg Larsson become big phenomenons, big sales -- and big profits -- are the result.

The publisher has a long string of acquisitions to its name, but lately it has been streamlining significantly too. The latest reshuffle has created a high-level M&A role. Some worry this may mean further consolidation -- along with more turmoil.

Just three years ago, the Crown Publishing Group was the most profitable division of Random House, the largest U.S. trade publisher of the media conglomerate Bertelsmann. Boldface names -- Barack Obama, Rachael Ray, Deepak Chopra, Ann Coulter -- produced a string of hits. And narrative non-fiction...