Penguin and Random House Combine to Form World’s Largest Book Publisher

dbw reporting:
Pearson and Bertelsmann plan to combine their Penguin and Random House trade publishing businesses to form the world’s largest book publisher. The deal will be subject to regulatory approval and is expected to close in the second half of 2013. The combined firm will be called Penguin Random House, the companies announced in separate statements this morning.
Penguin Random House will be led by Markus Dohle and John Makinson. Dohle, the current Random House chairman and CEO, will be the CEO of Penguin Random House. Makinson, the current Penguin chairman and CEO, will be chairman of the board. Bertelsmann will own 53% of Penguin Random House and Pearson will own 47%. The two companies together would have about 9,000 employees. The agreement wouldn’t include certain assets, like Random House’s Germany-based trade publishing unit; and Pearson would retain the right to use the Penguin name and logo in its education business, according to the New York Times.
Related: What the New Penguin Random House Logo Might Look Like | What the Merger Means
In the statements, Bertelsmann chairman & CEO Thomas Rabe spoke of the new firm’s size and scope...
http://www.digitalbookworld.com/2012/penguin-and-random-house-combine-to-form-worlds-largest-book-publisher/?et_mid=587142&rid=233619411