This is one of several papers presented at a Federal Trade Commission Symposium on Media Concentration. A statement by the Authors Guild, it examines the merger-takeover trend in book publishing. The Authors Guild feels that the merger trend in book publishing has passed beyond the warning line drawn by the antimerger clause of the Clayton Act, Section 7; threatens competition in the literary market place and the survival of a structure composed of numerous independent publishing companies; threatens the individual author's bargaining power, income, and opportunities to be published; and endangers the uninhibited marketplace of ideas guaranteed by the First Amendment. The supplemental memorandum explores the proposed acquisition of the Book-of-the-Month-Club by the Time, Inc./Little, Brown publishing complex. It also contains a sample of statistical figures for the book club and mass paperback markets from recent statistical reports published by The Association of American Publishers. (MKM)