On Monday, two of the world’s largest publishing houses, Penguin and Random House agreed a merger to create a powerhouse that will publish one in four books in the UK.
It is thought that rapid growth in the ebooks market resulted in the deal to give the newly formed Penguin Random House more sway with Amazon and other dealers in digitalised reads.
Penguin’s Chief and Chairman, John Makinson, said: “All of us who work in book publishing experience every day the breathtaking pace of change in our industry.
“The partnership that we are announcing today will position Penguin Random House at the forefront of that change.”
Markus Dohle, Chairman and CEO of Random House agreed with his colleague, and commented: “Our new company will bring together the publishing expertise, experience, and skill sets of two of the world’s most successful, enduring trade book publishers.
“In doing so, we will create a publishing home that gives employees, authors, agents, and booksellers access to unprecedented resources.”