We wound up discovering and deriving more information about Penguin Random House’s results from further review of their annual reports yesterday (which disclose breakdowns not offered up in their standard earnings releases). Most importantly, looking back at Bertelsmann’s 2013 annual report, we established a comparison baseline for 2013 results for Penguin Random House. That report said that if Penguin’s results had been incorporated for the full year (instead of just the last six months), 2013 book publishing sales for Bertelsmann would have been €3.248 billion overall — with PRH contributing €2.986 billion and the rest coming from PRH Germany. So we can […]