Newspaper article Pittsburgh Post-Gazette (Pittsburgh, PA)

Penguin Random House World's Biggest Publisher Merger Controls More Than 25 ; of U.S. Market

Newspaper article Pittsburgh Post-Gazette (Pittsburgh, PA)

Penguin Random House World's Biggest Publisher Merger Controls More Than 25 ; of U.S. Market

Article excerpt

NEW YORK -- Random House and Penguin completed their planned merger Monday, creating the biggest and most powerful book publisher in the world.

The new company, called Penguin Random House, will control more than 25 percent of the U.S. trade book market, giving it unmatched leverage against Amazon.com, a growing force in the industry.

Bertelsmann, the owner of Random House, and Pearson, the owner of Penguin, announced the merger in October, saying Bertelsmann would control 53 percent of the company, and Penguin 47 percent. Since then, the merger has sailed through regulatory approvals in the United States and Europe, as well as China, Canada and other countries.

The new company would have more than 10,000 employees, 250 independent publishing imprints and about $3.9 billion in annual revenues.

Random House chairman and chief executive Markus Dohle, who will take on the role of chief executive of the new company, announced the merger's finalization in an email to employees Monday. "Today, we are Penguin Random House," he wrote. "You should be proud of what you've accomplished and what we are all now a part of: the first truly global trade book publishing company. Together, we are even better positioned to fulfill our core purpose: to bridge authors and readers by publishing the very best books. …

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