Random House and Penguin Merge

PENGUIN RANDOM HOUSE: Pearson and Bertelsmann have agreed to merge their publishing houses, Penguin and Random House respectively, reports Reuters. (News Corp. was reportedly in the running to merge Penguin with its own HarperCollins publishing unit.) According to the deal, Bertelsmann will hold a 53% stake in the new venture, Penguin Random House; Pearson will hold the remaining 47%.

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