After last week’s official confirmation of talks and a newsmaking weekend overture from News Corp., Bertelsmann and Pearson made their intended partnership official in an early Monday morning announcement that they have agreed to combine their trade book businesses into a single entity known as Penguin Random House. Under the deal, which is “expected to complete in the second half of 2013” but could take some time while awaiting regulatory clearances in multiple territories, Bertelsmann will hold 53 percent of the new company and Pearson will take a 47 percent stake, agreeing to hold those stakes for a minimum of […]
