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Wiley's Deceptive Letter to Bloomberg Press Authors:

""We are pleased to inform you" that we will be slicing your royalties up to 50%, is the essence of a letter from John Wiley & Sons to Bloomberg Press authors. "John Wiley & Sons acquired Bloomberg Press, the books division of Bloomberg, in March," says the June 2010 Authors Guild alert. "At the end of April, it began sending a letter to hundreds of Bloomberg Press authors purporting to inform them 'about a few differences in the accounting systems of Bloomberg and Wiley that it will be helpful for you to know about.'

"While this sounds innocent enough, it isn't. If signed by an author, the letter is actually a contract amendment that will materially and adversely affect the royalty rates of many Bloomberg Press authors."

The alert explains contractual changes, and advises, about a letter sent to Bloomberg authors: "The Authors Guild strongly urges Bloomberg Press authors to not sign this letter without careful consideration. If you have received this letter, consult your agent or a publishing attorney or contact a lawyer in our legal department so you understand precisely how this amendment would affect your rights and royalties. Important: if you have already signed the letter and returned it to Wiley, contact our legal department immediately. Non-Guild members are welcome to contact us as well. All communications will, of course, be held in confidence."
Read the full text of Authors Guild notice
Read the Wiley letter (PDF)

Wiley responded, and the Guild's responded to that response in Turow to Wiley: "Knock it off and do the right thing."
http://authorsguild.org/advocacy/articles/wiley.html
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