US govt won't stop Random House, Penguin deal

US govt

US govt says it has closed an investigation of a proposed merger between Penguin and Random House and will take no action to stop the deal.

Media company Pearson will merge its Penguin Books division with Random House, which is owned by German media company Bertelsmann. The merger would create the world's largest publisher of consumer books, with around a quarter of the market.

Bertelsmann will own 53 percent and Pearson 47 percent of the shares in the proposed publishing house, which will encompass all of Random House and Penguin Group's publishing units in seven countries including the US

Among other regulators reviewing the proposed arrangement are the Canadian Competition Bureau and the European Commission.

Bertelsmann chairman and CEO Thomas Rabe called the Justice Department's decision an important milestone.

Please read our terms of use before posting comments
TERMS OF USE: The views expressed in comments published on are those of the comment writer's alone. They do not represent the views or opinions of The Indian Express Group or its staff. Comments are automatically posted live; however, reserves the right to take it down at any time. We also reserve the right not to publish comments that are abusive, obscene, inflammatory, derogatory or defamatory.