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Conglomerate Penguin and Random House Complete Merger Andy Rain / EPA / Landov

Penguin and Random House Complete Merger

Unfortunately, it won’t be called Random Penguin. The publishing companies Random House and Penguin have completed their merger, becoming the largest book publisher in the world. The new company, called Penguin Random House, will control more than 25 percent of the trade book market in the U.S., giving it a stronger position in negotiating with Amazon. The company says there are no immediate layoffs planned, though it also says it will try to reduce redundancies in printing, distribution, and storage.

July 1, 2013 12:59 PM

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