In press releases issued early this morning, the parent companies of Random House and Penguin announced that they have finalized contracts for a merger of the two, creating the largest trade publishing house in the world, named Penguin Random House (interim logo at the left).
The Random House parent company, Bertelsmann, owns 53 percent of the new company and Penguin parent, Pearson, 47 percent. Random House chief executive Markus Dohle becomes CEO of the new group and Penguin’s CEO John Makinson, the chairman of its board of directors. The CEO of Penguin USA, David Shanks, has stepped down to serve as Senior Executive Advisor to Dohle and the U.S. executive team. Madeline McIntosh, formerly Chief Operating Officer, Random House U.S., becomes the President and Chief Operating Officer of the new U.S. company.
While it is too early to speculate on the composition of the new company’s library marketing teams, it would make sense on the adult side if they combined each group’s expertise in academic and library marketing into two new larger departments. In terms of eBooks libraries will be waiting to hear if the new company follows the Random House or Penguin models.