Another piece of speculation from when the Penguin Random House merger was coming together has also been confirmed: Random House will purchase Mondadori’s fifty percent share in their Spanish and Latin American book publishing joint venture, Random House Mondadori. Random House is paying 54.5 million euros ($70.01 million), Reuters reports, and Mondadori is booking a capital gain of just 2.5 million euros on the transaction. Like the larger Penguin merger, the Mondadori buyout is subject to approval by Spanish antitrust authorities, and “is expected to close before year-end.” We were told by a company spokesperson the buyout was “long in […]
