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Penguin and Random House finalize merger

from Los Angeles Times

Calling their union "the world's first truly global trade book publishing company," Penguin and Random House finalized on Monday morning a merger that brings together two legacy publishers, at a time when the rise of the Kindle, among other forces, threatens the dominance of the traditional publishing houses. Random House's parent company, the German media group Bertelsmann, is to control 53 percent of the new company, while 47 percent is to be controlled by Pearson, Penguin's parent company. more

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