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Publishers Random House, Penguin Consider Merger

The German media corporation Bertelsmann and the British media conglomerate Pearson are discussing a possible merger that would join their respective publishing subsidiaries Random House and Penguin. Pearson confirmed the possible merger but stated, "The two companies have not reached agreement and there is no certainty that the discussions will lead to a transaction. A further announcement will be made if and when appropriate."

If the companies reach an agreement, the merged publishers would control about 25 percent of the book market and earn a total revenue of about US$3 billion, according to The Hollywood Reporter.

Thanks to Daniel Zelter for the news tip.

Source: The Hollywood Reporter