Oct 25, 2012
By Michael Kramer
A major publishing merger is in the works.
British media conglomerate Pearson says it is in talks aimed at combining its Penguin publishing house with Random House, owned by Bertelsmann of Germany.
The mega-deal would bring together two of the world’s heavyweight book publishersI, uniting Penguin with the owner of Crown Publishing and Knopf Doubleday.
If the merger goes through it would create a unit that could compete in the rapidly evolving e-book market.
Traditional publishing houses have increasingly come under pressure, especially in the e-book category, from online retailers.