Merger creates world's biggest publishing firm
The book companies behind Fifty Shades Of Grey and Jamie Oliver's 30 Minute Meals have joined forces to create the world's biggest consumer publisher.
Penguin owner Pearson completed a joint venture with Random House owner Bertelsmann to create Penguin Random House. The merger combines two of the "big six" publishers in a venture behind 15,000 new titles a year. It bolsters the companies in the face of a changing market – driven by the rise of the ebook from the likes of Amazon, Apple and Google.
The deal overcame regulatory hurdles including a competition probe by the US Department of Justice after it was announced in October. Penguin Random House employs more than 10,000 staff and spans the globe with operations in the US, Canada, the UK, India, South Africa, Australia, New Zealand, China, Spain and Latin America. It is home to writers as diverse as Jack Reacher creator Lee Child at Random House and Penguin's long list of classical authors such as Charles Dickens and Jane Austen.