book2book

  booktrade.info

Search Booktrade.info:  


Friday 18th April

Book2book Home Book Trade News Trade Announcements Bestseller Lists About Booktrade.info

Penguin And Random House Merger Confirmed

Posted at 7:57AM Monday 29 Oct 2012

Pearson and Bertelsmann have agreed the merger of Penguin and Random House.

Under the terms of the agreement, Penguin and Random House will combine their businesses in a newly-created joint venture named Penguin Random House. Bertelsmann will own 53% of the joint venture and Pearson will own 47%. The joint venture will exclude Bertelsmann's trade publishing business in Germany and Pearson will retain rights to use the Penguin brand in education markets worldwide.

Bertelsmann will nominate five directors to the Board of Penguin Random House and Pearson will nominate four. John Makinson, currently chairman and chief executive of Penguin, will be chairman of Penguin Random House and Markus Dohle, currently chief executive of Random House, will be its chief executive.

The combination is subject to customary regulatory and other approvals, including merger control clearances, and is expected to complete in the second half of 2013.

Press release

BBC

Guardian

Telegraph




Get book trade news by email

Daily book trade headlines and breaking publishing news by email - just £3 a month. Click on the Subscribe button below to sign up now

Find out more


Search the news archive:
 






More Book Trade News

Haynes Q3 Revenues Fall
www.stockmarketwire.com

Haynes Publishing's total revenues for the third quarter were 7% down compared to the corresponding period last year

Gabriel Garcia Marquez Dies
www.bbc.co.uk

Nobel prize-winning Colombian author Gabriel Garcia Marquez has died in Mexico aged 87

Samsung Galaxy Devices Will Get A Custom Kindle App
gigaom.com

Users of Samsung Galaxy phones and tablets can download a new Kindle app produced in partnership with Amazon

Shadow Culture Minister Plays Robin Hood Against Lincolnshire Library Cuts
www.teleread.com

Helen Goodman, UK Shadow Minister for Culture, Media and Sport, has joined Minnie Driver and others in the campaign in Lincolnshire against closure of two thirds of the county's libraries

E. L. Doctorow Wins Library Of Congress Award
artsbeat.blogs.nytimes.com

The 2014 Library of Congress Prize for American Fiction has been awarded to E. L. Doctorow

Barnes & Noble Shares Drop After Riggio Cut His Stake
www.cnbc.com

Barnes & Noble Chairman Leonard Riggio, the bookseller's founder and largest shareholder, cut his stake in the company to 20 percent by selling shares worth about $64 million

Account Sign-In

Most Popular Stories

  1. Penguin To Unveil New Covers On WeTransfer
  2. Men 'Giving Up' On Books To Watch Films Or Go Online
  3. Amazon Staff Offered Up To $5,000 To Quit
  4. Samsung Galaxy Devices Will Get A Custom Kindle App
  5. South Korea To Send Books North To Mark World Book Capital
  6. Amazon Cloud Drive Now Stores Your Kindle Documents
  7. Once Upon A Time There Was A Clever Bookseller Called Waterstones
  8. Gabriel Garcia Marquez Dies
  9. Indies Test 'One Book, One Store' Campaigns
  10. Bloomsbury Launches If Only, A New Line Of YA Romances