A PYMNTS Company

US/UK: Penguin, Random House union official

By  |  July 3, 2013

Eight months after its announcement, the merger between top publishers Penguin and Random House is official, resulting in a new company called Penguin Random House. According to reports, the new company now dominates more than one-fourth of the publishing markets throughout the UK and US; PRH expects $3.9 billion in annual revenues. Random House owner Bertelsmann controls 53 percent of the new conglomerate, while Penguin owner Pearson owns the remaining 47 percent. CEO Markus Dohle said in an email statement to various book agents that the union will be “gradual” in order to allow the new company to gradually learn how operate most efficiently going forward.

    Get the Full Story

    Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required.

    yesSubscribe to our daily newsletter, PYMNTS Today.

    By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions.

    Full Content: Observer

    Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.