Two of the world's biggest publishing houses are to link up in a deal that will bring the writings of classics like George Orwell's "1984" and this year's literary phenomenon "Fifty Shades of Grey" under one umbrella.
Confirmation that Pearson will merge its Penguin Books division with Random House, which is owned by German media company Bertelsmann, will create the world's largest publisher of consumer books, with around a quarter of the market.
Champagne corks are not popping in the book world at news of the Penguin-Random House merger. There is no celebrating among competitors or authors, and the atmosphere at Penguin Towers and Random HQ is apparently one of deep gloom. Only the Mergers & Acquisitions lawyers will be happy.
Such mergers of titans are always accompanied by job losses so it’s hardly surprising that employees at Penguin and Random House are worried.
They’re going to the chapel and they’re gonna get married: Book publishers Penguin and Random House will become one after their parents company complete an upcoming merger. If the merging of companies in other industries is any indication, this new union could produce higher book prices as the two cease competing, as well as a possible dearth in the selection of titles.
British media conglomerate Pearson (PSO) on Thursday confirmed press reports that the company is in talks to combine its consumer publishing business, Penguin, with Bertelsmann’s Random House.
“The two companies have not reached agreement and there is no certainty that the discussions will lead to a transaction,” read a note posted on Pearson’s website.
Despite the uncertainly of what the final deal might look like, the news that the Big Six of publishing could soon shrink to the Big Five sent the book industry into a state of frenzied self-examination.
Pearson, the British media conglomerate, said Thursday that it was in talks to combine its Penguin publishing house with Random House, owned by Bertelsmann of Germany.
The deal, if completed, would bring together two of the biggest book publishers in the world, uniting Penguin and its iconic orange logo with the owner of Crown Publishing and Knopf Doubleday. The combination would create a division with greater scale that could compete in a rapidly evolving e-book market.
As the publishing world processes the news that Random House and Penguin could merge, Twitter has been filled with amusing posts from authors, readers and publishing professionals.
Wondering where the next generation of comic book readers will come from, if not the Big Two? Turns out, the answer may be the mainstream book market:
At the New York Comic Con Penguin Books’ Rich Johnson told ICv2 that Penguin was launching a new kid-targeted line of graphic novels that will be published under the Dial/Dutton line
EL James paved the way for adult writers of fan fiction, proving (with Fifty Shades Of Grey) that posting your stories online is an excellent way to secure a publishing deal.
And now one teenage pop music fan from North Lincolnshire has done the same for young adult writers.
One Direction super-fan Emily Baker, 16, has won a coveted deal with Penguin publishing group after writing a fictional love story inspired by her favourite boy band and posting it online.
Random House parent company Bertelsmann has called a report surfacing in the German media that it is considering a merger with Penguin Books or HarperCollins "speculation."
U.S. Self-publishing firm Author Solutions, which was recently acquired by Penguin Group?s parent for $116 million, has closed a first-look partnership with management/production company Thruline Entertainment. Under the pact, Thruline and its production division Tagline (Psych) will have first crack at all coverages, treatments, and screenplays developed though ASI’s Book-to-Screen and Hollywood Trailer services with an eye at turning them into feature film or television projects. ASI and Thruline are already working on two adaptations via Author Solutions’ million-dollar development fund: the teen-thriller Hide and Seek, adapted by screenwriter John Swetnam (Evidence), is being shopped, and horror novella