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

13Jun
Korea’s “K-Book” Exhibit at Paris Olympics

Korea’s “K-Book” Exhibit at Paris Olympics

Starting June 2024 and running until October, the Ministry of Culture, Sports and Tourism, alongside the Publication Industry Promotion Agency of Korea (KPIPA), is hosting a series of events in France focused on the Korean publishing market. These events include book talks, exhibitions, lectures, and a culture fair.   From June to August, an exhibition […]

13Jun
Beijing Book Fair Expands Reach with 15 New Debuting Countries

Beijing Book Fair Expands Reach with 15 New Debuting Countries

The 2024 Beijing International Book Fair is set to open on June 19 and will run until June 24. This year, 15 new countries and regions will be making their debut at the fair, including Azerbaijan, the Czech Republic, Nigeria, Norway, Slovakia, and Qatar.   Organizers expect around 1,600 exhibitors, with 1,050 of them coming […]

13Jun
HarperCollins Expands with Nonfiction Imprint Harper Influence

HarperCollins Expands with Nonfiction Imprint Harper Influence

HarperCollins is launching another new imprint, Harper Influence, that will join a long list of ‘Harper’-named imprints across the globe.  Harper Influence will publish a range of nonfiction “spanning popular culture, from general lifestyle and entertainment to stories of survival and inspiration,” the company said.  It added: “Whether in the fields of entertainment, science, medicine, […]

Related Posts

Beijing Book Fair Expands Reach with 15 New Debuting Countries

Beijing Book Fair Expands Reach with 15 New Debuting Countries

The 2024 Beijing International Book Fair is set to open on June 19 and will run until June 24. This year, 15 new countries and regions will be making their debut at the fair, including Azerbaijan, the Czech Republic, Nigeria, Norway, Slovakia, and Qatar.   Organizers...

HarperCollins Expands with Nonfiction Imprint Harper Influence

HarperCollins Expands with Nonfiction Imprint Harper Influence

HarperCollins is launching another new imprint, Harper Influence, that will join a long list of ‘Harper’-named imprints across the globe.  Harper Influence will publish a range of nonfiction “spanning popular culture, from general lifestyle and entertainment to...

Previous Next
Close
Test Caption
Test Description goes like this

Pin It on Pinterest