Not sure if this is where I should post it, but they now own around 20% if the publishing business. Thoughts?
Random house has merged with Penguin
Posted 29 July 2013 - 04:34 PM
Interesting...when did this happen?
A few days ago, I think.
Posted 31 July 2013 - 06:45 PM
I thought this was a done deal a month or so ago. Perhaps that was just the first rumblings, and now it's a done deal. The publishing world continues to shrink.
Click to purchase your copy or to read free samples
Posted 31 July 2013 - 07:42 PM
Historically, more than half of all mergers fail. Some studies put the figure over 80%.
According to the Guardian, Penguin Random House, will control 25% of the world book business. The interesting question may be, for how long? Will size grant the new company more market clout or make it more bureaucratic? Apparently, the New York staff at Random is surviving while many of the British managers have been shown the door. How much disruptions will this cause and how long will it impact operations?
I would bet that Penguin Random House has a significantly smaller market share in five years. Time will tell.
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