The world’s leading consumer publisher has been formed via the merger of Penguin and Random House. Respective owners Pearson and Bertelsmann announced the merger of the groups last October and today confirm the deal is done. Bertelsmann will own 53% and Pearson 47% of the new company, Penguin Random House. The company will include all of Random House and Penguin Group’s publishing divisions and imprints in the U.S., Canada, the UK, Australia, New Zealand, and India, as well as Random House’s publishers in Spain and Latin America, and Penguin’s trade publishing activity in Asia and South Africa. Headquartered in New York, the company is expected to generate annual revenues of about $3.9B. Random House chair and CEO Markus Dohle will be CEO of Penguin Random House. Penguin Group chief John Makinson will be chairman of the board.
By NANCY TARTAGLIONE, International Editor | Monday, 1 July 2013 11:30 UKTags: Bertelsmann, Penguin, Random House
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