Readersforum's Blog

October 29, 2012

Penguin/Random House merger confirmed

Markus Dohle

29.10.12 | Benedicte Page

Pearson and Bertelsmann have confirmed that Penguin and Random House are to combine into a new consumer publishing organisation, Penguin Random House, with the merger expected to complete in the second half of 2013.

Bertelsmann will own 53% of the new venture and Pearson 47%; Bertelsmann gets five directors on the new board and Pearson four. Current Penguin chairman and chief executive John Makinson will be chairman of Penguin Random House with Random House chief executive Markus Dohle in the chief executive role for the new company.

However 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.

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2 Comments »

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