Random House announces unlikely joint venture
Two of the world’s largest publishers have come forward in an iconic deal to bring forth the largest book publisher known to the general American consumer market in American history — Penguin books & Random House.
According to Penguin execs, the deal will make the two become Penguin Random House allowing both companies to mutually keep some of literature’s biggest names aboard while keeping more coming in.
The deal, of course, is still subject to regulatory approval even though its owners are mainly based overseas.
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