Penguin Random House Buys Alfaguara

Spanish media group Prisa said yesterday it had agreed to sell Alfaguara, publisher of Nobel-prize-winning author Mario Vargas Llosa and several other editorial brands, to Penguin Random House for 72 million euros (US$100 million).

Penguin Random House is majority owned by German media group Bertelsmann, while Pearson, the owner of the Financial Times, holds a minority stake. Bertelsmann and Pearson last year completed the merger of their publishers Penguin and Random House.