Random House, Penguin Agree to Merge
By this time next year, it won’t be the big six. Random House and Penguin parent companies Bertelsmann and Pearson (respectively) have agreed to merge the publishing giants in a joint business venture. Bertelsmann will own 53% of the new venture, with Pearson owning 47%.
Assuming government regulators approve the deal, it’s expected to close in the second half of next year.