It's a merger! Penguin Random House takes birth

October 29, 2012 13:48

Penguin and Random House are merging to create Penguin Random House and will comprise their English, Spanish and Portuguese publishing interests, says Chiki Sarkar, publisher Penguin India.

Publisher Pearson says it has agreed a deal with German media group Bertelsmann to combine their Penguin and Random House businesses. Bertelsmann will own 53% of the joint venture while Pearson will own 47%.

The two firms said last week that they were discussing a deal. Reports have also suggested News Corporation is planning a 1bn bid for Penguin.

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