Penguin and Random House agree merger: FT

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.