Home 5 News 5 Bertelsmann May Raise Stake in Penguin Random House to 75 Percent

Bertelsmann May Raise Stake in Penguin Random House to 75 Percent

by | Feb 13, 2017 | News

When Pearson and German media group, Bertelsmann, merged Penguin Books and Random House in a £2.4bn deal in July 2013, they created the world’s biggest book publisher by revenues, accounting for one in every four books sold globally. Now, just three-and-a-half years later, Pearson has almost decided to offload its 47 per cent stake in the joint venture – a move that will in all probability increase Bertelsmann’s stakes in the company from 53 percent to between 70 and 75 percent, if Pearson exercised its option to sell.

Presenting Bertelsmann’s rationale behind the move, their Chief Executive, Thomas Rabe said, “The publishing industry is and will remain one of our strategic core businesses, and will further strengthen our presence in the US, which is our second largest market.”

The German company bids on the strength of printed print publications in international markets, especially in the US and India. Their publishing section profits in 2015 clocked at €557 million – a 50 percent increase compared to 2014. They predict the market will remain strong in the coming months.

The company was founded in 1835, and employs 117,000 in television, magazine, education, publishing and other sectors in 63 countries around the world today. Random House was set up in the US in 1925, and acquired by Bertelsmann in 1998.

Recent News

06Aug
Kamala Harris Reflects on ‘107 Days’

Kamala Harris Reflects on ‘107 Days’

Simon & Schuster is to publish 107 Days, the memoir by former US vice-president Kamala Harris about her campaign for the presidency in 2024.  The publisher pre-empted world, audio and first serial rights to the work from Creative Artists Agency. Jonathan Karp, CEO of Simon & Schuster, has edited the memoir along with Dawn Davis, […]

06Aug
David Grossman Breaks His Silence

David Grossman Breaks His Silence

The award-winning Israeli author David Grossman has described his country’s campaign in Gaza as a genocide and said he now “can’t help” but use the term.   “I ask myself: how did we get here?” the celebrated writer and peace activist told the Italian daily La Repubblica in an interview published on Friday.   “How […]

05Aug
Nobody Left Empty-Handed in Medina

Nobody Left Empty-Handed in Medina

As the final pages of the 2025 Medina International Book Fair turned, the city bid farewell to days alive with dialogue, discovery, and the quiet hum of turning pages. Over the course of its run, 300 publishing houses from more than 20 countries gathered beneath one roof, transforming the fair into a living crossroads of […]

Related Posts

David Grossman Breaks His Silence

David Grossman Breaks His Silence

The award-winning Israeli author David Grossman has described his country’s campaign in Gaza as a genocide and said he now “can’t help” but use the term.   “I ask myself: how did we get here?” the celebrated writer and peace activist told the Italian daily La...

Nobody Left Empty-Handed in Medina

Nobody Left Empty-Handed in Medina

As the final pages of the 2025 Medina International Book Fair turned, the city bid farewell to days alive with dialogue, discovery, and the quiet hum of turning pages. Over the course of its run, 300 publishing houses from more than 20 countries gathered beneath one...

Nobody Knew It Was There: Rare ‘Hobbit’ Found

Nobody Knew It Was There: Rare ‘Hobbit’ Found

First Edition of The Hobbit Found in House Clearance to Auction A first edition of The Hobbit is set to sell for thousands at auction - after being discovered during a routine house clearance.   The copy of JRR Tolkien's 1937 book was discovered on a bookcase at a...

Previous Next
Close
Test Caption
Test Description goes like this