This is from the SCBWI website. Definitely the biggest news of the year, and we’re only a few weeks in.
Two of the largest book publishers — Penguin and Random House,- are planning to merge into the world’s largest publisher in a deal announced Monday.
If approved by government regulators, the merger would combine the two publishers’ parent companies, the British-owned Pearson and the German-owned Bertelsmann.
The new joint venture would publish about 25% of all books in the U.S.What this merger means for readers and authors isn’t as clear.
Under the terms of the agreement, Penguin and Random House will combine their businesses in a joint venture named Penguin Random House. Bertelsmann will own 53%, Pearson 47%.
John Makinson, currently chairman and chief executive of Penguin, will be chairman of the new firm; Markus Dohle, currently chief executive of Random House, will be its chief executive.
We will keep you apprised of developments on this record breaking deal.
Very interesting findings on the way students use ebooks and changes that need to be made so it can adapt to meet their needs…