Subscribe & Follow
Advertise your job vacancies
Promoted content
Penguin, Random House unite
LONDON, UK: British publisher Pearson and Germany's Bertelsmann have completed a deal to create a publishing firm, Penguin Random House, the parent groups announced on Monday (1 July).
In October, Pearson, publisher of the Penguin paperback books and owner of the Financial Times newspaper, announced with Bertelsmann plans to form a joint venture.
Bertelsmann will hold 53% of the new company and Pearson the remainder. Penguin Random aims to compete with new forms of publishing epitomised by online giant Amazon for both traditional and increasingly, electronic books.
Penguin Random House had pro forma revenues of £2.6bn and operating profit of £34m in 2012, the statement added.
Penguin's revenue soared last year, helped by demand for its e-book titles including Mark Owen's "No Easy Day" and Ken Follett's "Winter of the World".
Random House profited hugely over the past year from publishing EL James' sado-masochistic romance "Fifty Shades of Grey", which is achieving huge global sales.
Pearson meanwhile has denied a report that media mogul Rupert Murdoch and Abu Dhabi's state media group were in talks to acquire the Financial Times Group for about $1.2bn.
source: AFP via I-Net Bridge
Source: I-Net Bridge
For more than two decades, I-Net Bridge has been one of South Africa’s preferred electronic providers of innovative solutions, data of the highest calibre, reliable platforms and excellent supporting systems. Our products include workstations, web applications and data feeds packaged with in-depth news and powerful analytical tools empowering clients to make meaningful decisions.
We pride ourselves on our wide variety of in-house skills, encompassing multiple platforms and applications. These skills enable us to not only function as a first class facility, but also design, implement and support all our client needs at a level that confirms I-Net Bridge a leader in its field.
Go to: http://www.inet.co.zaRelated
Market responds well to Nissan and Honda merger talks 18 Dec 2024 Maziv 'disappointed' by tribunal outcome 29 Oct 2024 Sun International faces regulatory roadblock on Peermont acquisition 29 Oct 2024 UCT GSB’s EMBA ranked 31st globally for overall satisfaction by the Financial Times 18 Oct 2024 Mantashe readies SANPC Bill for parliament 14 Oct 2024 Elenjical Solutions named among Africa's fastest growing companies 28 May 2024
