Bertelsmann Plans to Raise Stake in Penguin Random House

Bertelsmann has reported a 4.7% rise in full-year core profit and reiterated its plan to raise its stake in Penguin Random House, the book publisher which helped to drive the earnings increase.

The German media group controls RTL entertainment company and owns about half of Penguin Random House, publisher of bestselling authors such as John Grisham, Stephen King and Paula Hawkins, in a joint venture with Pearson.