Monday, December 10, 2012

Penguin and Random House in publishing merger | Reduction

Penguin and Random House in publishing merger

Future of Media TV Broadcasting Gerd Leonhard Futurist Speaker.044
Future of Media TV Broadcasting Gerd Leonhard Futurist Speaker.044 by gleonhard
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Excerpt:

HONG KONG (CNNMoney) -- Penguin and Random House, two major publishers, said Monday they intend to combine operations. The merger announcement comes as publishers struggle to find profits in the digital age. Bertelsmann, the Germany-based parent company of Random House, will own 53% of the new venture. Penguin's U.K. parent company, Pearson, will control the remaining 47%. While the deal requires regulatory approval, the publishers said they hoped to compete the merger by the second half of 2013. Current Random House CEO Markus Dohle will serve as chief executive of the new venture. Penguin CEO John Makinson will become chairman of the board. Random House reported an operating profit of $259 million last year, while Penguin reported $179 million. The move comes as digital retailers such as Amazon (AMZN, Fortune 500) and Apple (AAPL, Fortune 500) exert enormous pressure on the publishing industry.

People:

CEO Markus Dohle

Overall Sentiment: 0.0739813

Relevance: 0.259859

John Makinson

Overall Sentiment: 0

Relevance: 0.225016

Bertelsmann

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Relevance: 0.202949

Additional Info:

Company: Random House

Overall Sentiment: 0.0606601

Relevance: 0.831792

Company: Amazon

Overall Sentiment: 0.128784

Relevance: 0.384468

City: Penguin

Overall Sentiment: 0.0825238

Relevance: 0.77645

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