Penguin and Random House have decided to merge, creating the world's leading trade publisher. Their official website confirms the development, which brings together two leading English language publishers with complementary strengths. Random House is a leading publisher in the US and the UK, while Penguin is the world’s most famous publishing brand with a strong presence in developing markets. Both have excellence as companies, have pioneered the transformation towards digital publishing and bookselling.
Under the agreement, Penguin and Random House will combine their businesses in a newly-created joint venture named Penguin Random House. Bertelsmann will own 53% of the joint venture and Pearson will own 47%. The joint venture will exclude Bertelsmann’s trade publishing business in Germany and Pearson will retain rights to use the Penguin brand in education markets worldwide.
The two believe that the merger will create a successful new organisation, both creatively and commercially, with the capacity to deliver significant benefits.