Penguin, Random House Complete Publishing Mega-Merger as Ballantine drops Deen.

Publishers Penguin and Random House have officially merged into one entity known as Penguin Random House (not, as many had hoped, "Random Penguin" or "Penguin House"). The deal "creates the world's largest publisher of consumer books," according to The Associated Press. Parent companies Pearson and Bertelsmann, which announced the news Monday morning, said the new, New York-based company will employ some 10,000 people and comprise nearly 250 imprints. Penguin CEO John Makinson will be chairman. In the CEO's seat will be Markus Dohle, formerly the chairman and CEO of Random House.