Publishers Random House, Penguin complete merger

BERLIN (AP) — Random House Inc. and Penguin Group have completed a planned merger that creates the world’s largest publisher of consumer books.

Parent companies Bertelsmann and Pearson said they signed the final contracts on Monday to combine the global activities of the two publishers and create Penguin Random House. Random House parent Bertelsmann will hold 53 percent of the new company and Penguin owner Pearson 47 percent.

Penguin Random House will include top-selling authors such as Dan Brown and Ken Follett and a vast back catalog ranging from John Steinbeck’s “The Grapes of Wrath” to Ralph Ellison’s “Invisible Man.”

Random House chief executive Markus Dohle becomes CEO of the privately held new group, based in New York. Penguin’s CEO John Makinson will be the chairman of its board of directors.

WKBN 27 First News provides commenting to allow for constructive discussion on the stories we cover. In order to comment here, you acknowledge you have read and agreed to our Terms of Service. Commenters who violate these terms, including use of vulgar language or racial slurs, will be banned. No links will be permitted. Please be respectful of the opinions of others. If you see an inappropriate comment, please flag it for our moderators to review.

blog comments powered by Disqus