Watch out for the Random Penguin…
Random House (Photo credit: Alexander Smolianitski)
Two of the largest publishing houses in the world have merged. The UK’s Pearson and Germany’s Bertelsmann are the owners of Penguin and Random House. By merging their activities, they now control about 25% of the global English language book sales.
The deal comes at a time when traditional book sales are under threat by sales of e-books and self publishing is starting to take flight. In the end, these are traditional media houses who are trying to survive and adjust to a new world where they are not so confortable.
The joint venture will go by the slightly awkward (and totally lame) name “Penguin Random House”. I’m sure they could’ve come up with some other combination of their two names. I’d vote for Random Penguin…
Source: http://qz.com/20934/rivals-random-house-and-penguin-join-forces/
- Pearson, Bertelsmann confirm publishing tie-up (seattletimes.com)
- Penguin and Bertelsmann turn new page with merger (thetimes.co.uk)
- Murdoch snubbed as Penguin Random House deal is struck (theweek.co.uk)
