Creation of the world’s leading consumer publisher is a step closer to reality. Pearson and Bertelsmann say the Justice Department has closed its review of the proposed merger of Penguin and Random House “without conditions”. Last October, Penguin’s owner Pearson and Random House owner Bertelsmann announced an agreement to join the two publishing houses. Under terms of the deal, Bertelsmann would own 53% and Pearson 47% of the new company, to be called Penguin Random House. The combined company would have about a 25%-30% share as the companies look to fend off competition in the e-book space. The proposed merger is still under review by the European Commission, the Canadian Competition Bureau and other groups. The publishers hope to close the deal later this year.
Justice Department Approves Merger Of Penguin & Random HouseBy THE DEADLINE TEAM | Deadline.com – Thu, Feb 14, 2013 2:16 PM EST
Explore Related Content
FILE - This March 13, 2003 file photo shows an outside view of the German media giant Bertelsmann in Guetersloh, Germany. Parent companies Bertelsmann and Pearson announced Monday, June 3, 2013, that the merger between Random House Inc. and Penguin Group has been cleared by anti-trust authorities in China, among the last countries to give approval. The new publishing house, Penguin Random House, will be 53 percent controlled by Bertelsmann and 47 percent by Pearson. (AP Photo/Michael Sohn, File)
News for You
- So Long, Mary Jane: Shailene Woodley Cut From ‘The Amazing Spider-Man 2′
Well, it looks like nobody is going to be calling Peter Parker "Tiger" just yet. Sony Pictures and director Marc Webb have apparently decided that Parker's love life was complicated enough without the redhead as the character of Mary Jane … Continue reading →
- 'The Exorcist': The Real-Life Story Behind the 40-Year-Old Horror Classic
Really, though, it doesn't look a day over 20. Director William Friedkin's classic horror film had its New York City premiere on June 19, 1973, staking its claim in the pop culture consciousness (with a sledgehammer) and changing the face … Continue reading →
- Mom: RI theater threw out disabled girl over noise
NEW BEDFORD, Mass. (AP) — A woman says she and her 5-year-old developmentally disabled daughter were thrown out of a theater during a "Beauty and the Beast" performance because the girl was making giggling and humming noises she makes when she's happy.
- You Won't Believe What Henry Cavill Did Before He Was Superman
Superman walked my dog. Twice. How many people can say that? Back in 2005 I became friends with an extremely handsome restaurant host named Henry. Little did I know it was Henry Cavill, on the cusp of fame. I used … Continue reading →
- Deen says she used slur but doesn't tolerate hate
SAVANNAH, Ga. (AP) — Celebrity cook Paula Deen said while being questioned in a discrimination lawsuit that she has used racial slurs in the past but insisted she and her family do not tolerate prejudice.