July 1, 2013

LARGEST BOOK PUBLISHING MERGER IS COMPLETE

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Today Penguin and Random House have completed their merger, resulting in the world’s largest book publisher Penguin Random House, to be headquartered in New York.  The new company will publish over 15,000 new titles per year and employ over 10,000 people worldwide across 250 imprints.

In the press release Mark Dohle, Random House CEO, states “Today, Penguin and Random House officially unite to create the first truly global trade book publishing company. As separate companies, we have long performed outstandingly by every benchmark; as colleagues, we will share and apply our passion for publishing the best books with our enormous experience, creativity, and entrepreneurial drive. Together, we will give our authors unprecedented resources to help them reach global audiences—and we will provide readers with unparalleled diversity and choice for future reading. Connecting authors and readers is, and will be, at the heart of all we strive to accomplish together.”

The new company also plans to transform further into the digital world which some believe will increase competition with sites like Amazon and Apple who dominate the e-book market.  The merger marks an important time in the publishing industry, with a plan to grow globally the two publishing houses have combined all divisions to create more diverse content and wider distribution.  With revenues expected to be in the $3 billion range, the company believes that combining its legacy investments in marketing and distribution actually will make it a stronger digital force by shedding some costs in production and warehousing while giving it more money for marketing.  Read More

 

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