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.
June 28, 2013 — Disney and Hachette Book Group (HBG) announced today Hachette’s agreement to purchase Disney’s adult trade publishing imprint, Hyperion. When the acquisition is completed, HBG will become the publisher of more than 1,000 books published by the Hyperion adult trade book division since its inception in 1991, as well as approximately 25 books scheduled for future publication. Disney Publishing Worldwide (DPW), the world’s largest publisher and licensor of children’s books, will retain all of its Disney and Disney-Hyperion branded children’s and young adult book titles, and will publish franchise-based titles from Disney/ABC Television Group upon completion of the transaction.
Pearson is to close its New Zealand educational business at the end of August, while HarperCollins has also announced it will shutter its distribution operations in the country. The separate...
The merger of Penguin and Random House is expected to be completed next month, following the approval of the proposed merger by the Chinese Ministry of Commerce this week. Penguin parent company Pearson said in a statement that MOFCOM ‘has cleared the planned merger ... without conditions’ and that Pearson and Random House parent company Bertelsmann now ‘expect to close the transaction in July’.
The book industry, rattled by the surge in e-book sales through online retailers, is poised for consolidation, said Brian Napack, a former Macmillan president and senior advisor at Providence Equity Partners.
"We're in a major battle right now for the future of the industry," Napack said Wednesday at BookExpo America, the industry's annual convention held at the Javits Center in New York. "It will be very difficult for the existing major players to stand alone in the face of growing scale because they are competing for the same authors and competing for the same distribution channels. There are only so
This is a very special year for the International Latino Book Awards. We celebrate 15 years of solid growth and increasing quality within the realm of
Pearson Plc’s Penguin unit said it reached a $75 million settlement of antitrust claims by 33 states and consumers over electronic-book pricing.
Penguin, which was sued last year for allegedly participating in a conspiracy with other publishers and Apple Inc. (AAPL) to fix the price of e-books, announced the settlement in a statement today. The company resolved related claims with the U.S. Justice Department in December.
New York, NY, May 8, 2013 – From May 29-30, 2013, the best minds in digital publishing will convene in the Javits Center in New York City for the highly-anticipated, perennially sold-out at IDPF Digital Book 2013 conference (http://idpf.org/db13). This year’s theme, Advancing Publishing in a Digital World, has already drawn an enormous crowd, with seats expected to sell out soon.
Some featured speakers and session insights include:
- Otis Chandler, Co-founder and CEO of Goodreads will share an update and tackle questions from the crowd, including: what’s next for Goodreads now that it’s owned by Amazon? What does the recent sale mean for the 17 million members, 530 million books and 23 million reviews?
- Malcolm Gladwell, bestselling author and staff writer for The New Yorker will speculate on the digital future with Brad Stone, Bloomberg Businessweek writer and author of the upcoming The Everything Store: Jeff Bezos and the Age of Amazon
Microsoft is reportedly interested in buying the digital assets of Barnes & Noble's Nook Media for $1 billion. But analysts are divided over whether the deal makes sense.
Microsoft already has a 16.8% equity stake in the Barnes & Noble subsidiary, which includes the bookseller's digital book and college book businesses. Microsoft invested $300 million in Nook Media in April 2012, valuing the new company at $1.7 billion at the time. Microsoft and Barnes & Noble completed their strategic partnership last October. Education and news publisher Pearson subsequently took a 5% stake
It was not so many months ago, in October of last year, when we learned that publishers Random House and Penguin would merge, per their parent companies Bertelsmann and Pearson. Today it appears that the merger is on schedule, and may even happen more quickly than anticipated, reports Crain's Matthew Flamm: An internal memo went out to Penguin staffers Friday morning in which Penguin Group CEO John Makinson said the merger will close early in the second half of the year. So, soon!