October 24, 2021

KITAAB

Connecting Asian writers with global readers

Penguin and Random House agree merger: FT

1 min read

Bertelsmann, the German media company, and Pearson, its UK rival, are merging Random House and Penguin, their respective publishing units, in order to respond to the rapidly developing challenges of the ebook revolution.

In a move that is likely to trigger more consolidation, the companies on Monday said 53 per cent of the merged entity, Penguin Random House, would be owned by Bertelsmann, with the other 47 per cent held by Pearson, which also owns the Financial Times.

You need to login to view the rest of the content. Please . Not a Member? Join Us
Copyright © All rights reserved. Newsphere by AF themes.