Tue, 30 Oct 2012 | MERGER
The publishing world witnessed quite a shake-up this week when Penguin and Random House, two of the largest publishers, confirmed their merger plans.
Marjorie Scardino, chief executive of Penguin's parent group Pearson, explained that the deal would allow the resulting merged company to invest greater resources in digital publishing, including the potential development of a web platform selling books direct to consumers along the lines of Amazon.
Meanwhile, Thomas Rabe, chief executive of Random House owner Bertelsmann, confirmed that the two businesses have signed “binding contracts”.
Rupert Murdoch's News Corp had also been considering pitching in on the deal. Reports in the Financial Times confirmed that News Corp, which owns HarperCollins publishing group, approached Pearson last week in an informal context “at the highest level” about a cash counterbid.
But even the weight of Murdoch's media empire is now unlikely to be able to overturn the deal following the signing.
Under the terms of the contract, 53 per cent of the firm will be held by Bertelsmann and 47 per cent will be owned by Pearson. Penguin's current chairman and chief executive John Makinson will become full-time chairman of the merged company, while Markus Dohle, head of Random House, will take up the position of chief executive.
Presenting an opportunity to acquire a very profitable plumbers and heating merchants business operating nationwide.
Popular and well-regarded Sushi and Ramen restaurant and takeaway, which is situated in a prime city centre location in Norwich. The premises are set over three floors and are presented to an extremely high standard throughout and offers the opportun...
LEASEHOLD
Established respected business, holding valuable private and public sector client base, there being a number of key clients, some paying a retainer and from which regular repeat business is received ensuring a substantial pipeline figure.
26
|
Apr
|
Major double glazing firm Everest enters administration | ADMINISTRATION
Everest, one of the largest providers of double-glazing in t...
26
|
Apr
|
Kent-based scientific consultancy sold to US firm | BUSINESS SALE
A4P Consulting Limited, a scientific consultancy company hea...
25
|
Apr
|
Ambulance services provider acquired in pre-pack deal | BUSINESS SALE
Elite Emergency Medical Services Ltd (Elite EMS), an ambulan...
26
|
Jul
|
Pearson sells Financial Times with Economist next on the block | BUSINESS SALE
Considering how long suitors like Bloomberg and Axel Springe...
21
|
Jul
|
Is the Financial Times really for sale this time? | BUSINESS SALE
Sale rumours have circulated around the Financial Times befo...
03
|
Jul
|
Penguin and Random House publishers complete merger | MERGER
Months after confirming plans to merge, Penguin and Random H...
Business Sale Report is your complete solution to finding great acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.