Strategy: The Big Merge
In October, Random House and Penguin shocked the world (sort of) when they announced they would join forces and become the world's largest trade book publisher. We talked to industry experts to get at what it all means.
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Brian Howard
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At Penguin, says McCarthy, "most of the strategic decisions are made centrally, but the culture is less corporate, more of a roll-up-our-sleeves culture. Leaner in general and much more scrappy." He adds, "Often forgotten is when Putnam and Penguin merged, it was Putnam's management that took over the company. Putnam was not the sort of white-heeled shop that Penguin was. There are two cultures down at Penguin. People look at merging Random House with Penguin, a white-heeled publisher of classics. But it's way more complicated than that. Six entities from the Random House side and two or three entities from the Penguin side."
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Brian Howard
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