We are in a time of transition and radical change akin to the end of the age of the dinosaurs. Remember what happened to most of the larger creatures alive at that time? That's about what I expect to see happen to the publishing industry, and the resounding thud from the failure of Random Penguin Solutions will be much louder than if the t conglomerates remain separate.
The fact of the matter is, folks, it's no longer necessary to form ever larger companies in order to make more money. Thanks to the internet a handful of people in an office can reach as many customers as the most well-financed corporate appendage *cough* Bookish *cough*. And the smaller more nimble companies are more likely to weather the transition, much like the early proto-mammals survived the end of the dinosaurs.