Random Penguin Merger Passes Scrutiny in Europe

Random Penguin Merger Passes Scrutiny in Europe Publishing The European Commission announced today  that they were approving the merger between Random House and Penguin.

According to their statement, there was little concern that the larger company would dominate the market because “the merged entity will continue to face several strong competitors”. This approval follows the approval of the transaction by the ACCC in Australia, the NZCC in New Zealand, and the U.S. Department of Justice. To the best of my knowledge the only remaining regulatory body to approve the merger is Canada.

When the merger finally goes through the German media conglomerate Bertelsmann will trade their ownership of RH for will own 53% of Random Penguin Solutions, with Pearson owning the remaining 47%. Bertelsmann will have 5 directors on the Random Penguin Solutions board of directors and Pearson will have 4.

source

Nate Hoffelder

View posts by Nate Hoffelder
Nate Hoffelder is the founder and editor of The Digital Reader: He's here to chew bubble gum and fix broken websites, and he is all out of bubble gum. He has been blogging about indie authors since 2010 while learning new tech skills at the drop of a hat. He fixes author sites, and shares what he learns on The Digital Reader's blog. In his spare time, he fosters dogs for A Forever Home, a local rescue group.

1 Comment

  1. fjtorres5 April, 2013

    Don’t forget that within a year or two Bertlesmann has to spinoff Random Penguin or buy out Pearson.
    This isn’t a traditional co-op venture; it’s Person’s bug-out strategy.
    Smart, very smart.

    Reply

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Scroll to top