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Random House, Penguin Group complete merger

Random House Inc and Penguin Group have completed their planned merger that creates the world's largest publisher of consumer books.

Agencies | July 1, 2013 | Updated 17:49 IST

Random House Inc and Penguin Group have completed their 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 per cent of the new company and Penguin owner Pearson 47 per cent.

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.

Gaurav Shrinagesh will be the head of India operations. Shrinagesh, previously Managing Director of Random House India, will be CEO of Penguin Random House India.

Penguin Random House will combine the adult and childrens fiction and non-fiction print and digital trade book publishing businesses of Penguin and Random House in the US, the UK, Canada, Australia, New Zealand, and India; Penguins trade publishing activity in Asia and South Africa; Dorling Kindersley worldwide; and Random House's companies in Spain, Mexico, Argentina, Uruguay, Colombia, and Chile.

Between mid-February and early June, in order of review, Penguin Random House received governmental merger control approval in the US, New Zealand, Australia, the European Commission, Canada, South Africa, and China, all without condition.

Penguin Random House will employ more than 10,000 people across five continents.

It will comprise nearly 250 editorially and creatively independent imprints and publishing houses that collectively publish more than 15,000 new titles annually.

Its publishing lists include more than 70 Nobel Prize laureates and hundreds of the world's most widely read authors.

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