The Big Six publishers have officially become the Big Five as Random House and Penguin completed a merger this morning. In a statement today, the two companies announced a new group known as Penguin Random House. The new company will include almost every part of both Random House and Penguin, creating a company with over 10,000 employees across five continents.
As mentioned before, ownership of the new company will be split between the two companies' parent entities, Pearson and Bertelsmann, and the new company will publish across a total of roughly 250 imprints. Random House's Markus Dohle will step up as CEO, while Penguin's David Shanks will step down and serve instead as a senior executive advisor to Dohle.
The Big Six become the...
via The Verge - All Posts http://www.theverge.com/2013/7/1/4482980/penguin-and-random-house-officially-merge-become-penguin-random-house
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