Penguin Random House was formally established this week after receiving government merger control approvals
Penguin Random House was formally established this week with the announcement of its global senior executive team. Between mid-February and early June, Penguin Random House received governmental merger control approval in the U.S., New Zealand, Australia, the European Commission, Canada, South Africa and China, all without condition.
Bertelsmann owns 53 pe cent and Pearson 47 per cent of the company. Penguin Random House will combine the adult and children’s fiction and nonfiction print and digital trade book publishing businesses of Penguin and Random House in the U.S., U.K., Canada, Australia, New Zealand, and India; Penguin’s trade publishing activity in Asia and South Africa; Dorling Kindersley worldwide; and Random House’s companies in Spain, Mexico, Argentina, Uruguay, Colombia, and Chile.
Random House’s German-language publishing group, Verlagsgruppe Random House, is outside the venture, and remains part of Bertelsmann.
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.
According to Markus Dohle, CEO of Penguin Random House, “As separate companies, we have long performed outstandingly by every benchmark; as colleagues, we will share and apply our passion for publishing the best books with our enormous experience, creativity, and entrepreneurial drive. Together, we will give our authors unprecedented resources to help them reach global audiences—and we will provide readers with unparalleled diversity and choice for future reading. Connecting authors and readers is, and will be, at the heart of all we strive to accomplish together.”
Penguin Random House world headquarters are in New York City.