{"id":642388,"date":"2013-02-14T12:16:09","date_gmt":"2013-02-14T17:16:09","guid":{"rendered":"http:\/\/paidcontent.org\/?p=224704"},"modified":"2013-02-14T12:16:09","modified_gmt":"2013-02-14T17:16:09","slug":"department-of-justice-clears-random-house-penguin-merger","status":"publish","type":"post","link":"https:\/\/mereja.media\/index\/642388","title":{"rendered":"Department of Justice clears Random House-Penguin merger"},"content":{"rendered":"

Random House parent company Bertelsmann and Penguin parent company Pearson announced Thursday that the Department of Justice has approved the proposed merger between Random House and Penguin<\/a>\u00a0”without conditions.”<\/p>\n

“We have closed our investigation and took no action,” a DOJ spokeswoman confirmed.<\/p>\n

The merger, which remains under review by other antitrust authorities including the European Commission and the Canadian Competition Bureau, would create the world’s largest publisher. According to the announcement sent by Pearson<\/a>, “Pearson\u00a0and Bertelsmann continue to expect the transaction to close in the second half of 2013, after all\u00a0necessary approvals have been received.”<\/p>\n

Pearson’s full announcement:<\/p>\n

\n

Pearson and Bertelsmann today announce that they have been notified by the U.S. Department of Justice that it has closed its investigation into the proposed merger of\u00a0Penguin and Random House, without conditions.<\/p>\n

The two companies announced their agreement to combine Penguin and Random House in\u00a0October 2012. The proposed merger is currently under review by the European Commission, the\u00a0Canadian Competition Bureau and various other antitrust authorities around the world. Pearson\u00a0and Bertelsmann continue to expect the transaction to close in the second half of 2013, after all\u00a0necessary approvals have been received.<\/p>\n

Following completion, Bertelsmann will own 53% and Pearson 47% of Penguin Random\u00a0House. It will encompass all of Random House and Penguin Group\u2019s publishing units in the\u00a0U.S., Canada, the U.K., Australia, New Zealand, India and South Africa, as well as Penguin\u2019s\u00a0operations in China and Random House\u2019s publishers in Spain and Latin America.\u00a0Pearson and Bertelsmann believe that the combined organisation, the world\u2019s leading consumer\u00a0publishing company, will have a stronger platform and greater resources to invest in rich\u00a0content, new digital publishing models and high-growth emerging markets.<\/p>\n<\/blockquote>\n

\"\"<\/p>\n

<\/a><\/p>\n

Related research and analysis from GigaOM Pro:<\/strong>
Subscriber content. Sign up for a free trial<\/a>.<\/p>\n