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U.S. Justice Department Approves Penguin & Random House Merger

posted on by Lynzee Loveridge

British media conglomerate Pearson and German media corporation Bertelsmann stated that the U.S. Justice Department Penguin Random House. Bertelsmann will own 53%, while Pearson will hold 47% of the new company.

According the The Hollywood Reporter, the merged publishers would control about 25 percent of the book market and earn a total revenue of $3 billion.

Random House biographies.

Source: Deadline

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