Posted Monday, October 29, 2012
A Random Penguin Fights Back
Book publishers are binding their fortunes together as they seek protection against the ravages of the Internet.
Pearson PLC, owner of Penguin Group, and Random House-parent Bertelsmann SE & Co. agreed Monday to merge the two publishing companies, which would control more than 25% of the $13.97 billion U.S. consumer publishing market.
The deal will likely face serious scrutiny from regulators leery of such a dominant company. If it passes muster, however, the joint venture would give the parent companies some flexibility in increasing or reducing their exposure to the slow-growth business over time -- while offering cost cuts from duplicated warehousing...
View Full Article
Pearson PLC, owner of Penguin Group, and Random House-parent Bertelsmann SE & Co. agreed Monday to merge the two publishing companies, which would control more than 25% of the $13.97 billion U.S. consumer publishing market.
The deal will likely face serious scrutiny from regulators leery of such a dominant company. If it passes muster, however, the joint venture would give the parent companies some flexibility in increasing or reducing their exposure to the slow-growth business over time -- while offering cost cuts from duplicated warehousing...
View Full Article