Penguin confirms that discussions are ongoing
Random House and Penguin are in talks to merge in a deal that would potentially bring two of the country's largest book publishers under one roof.
A spokeswoman for Pearson, the parent company of Penguin, confirmed Thursday that it has entered into talks with Bertelsmann, the owner of Random House.
"The two companies have not reached agreement and there is no certainty that the discussions will lead to a transaction," Pearson said in a statement. "A further announcement will be made if and when appropriate."
Should the two companies combine, it will lead to further constriction in a publishing market that has already been hit hard by a shift away from physical books to e-editions. On the plus side, by pooling resources, the two companies would boast a powerful lineup of best-selling authors.
Among Random House's recent titles are Laura Hillenbrand's "Unbroken," Jon Meacham's "Thomas Jefferson: The Art of Power" and Charles Frazier's "Nightwoods."
Recent successes for Penguin include Patricia Cornwell's "The Bone Bed," John Sandford's "Mad River" and Junot Diaz's "This Is How You Lose Her."
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