Penguin Random House Explained

Penguin Random House LLC
Type:Subsidiary
Hq Location:Random House Tower
Hq Location City:New York City
Hq Location Country:U.S.
Area Served:Worldwide
Products:Books
Revenue:€4 billion
Revenue Year:2021
Num Employees:10,000
Parent:Bertelsmann
Footnotes:[1]

Penguin Random House LLC is a British-American multinational conglomerate publishing company formed on July 1, 2013, with the merger of Penguin Books and Random House.[2] [3] Penguin Books was originally founded in 1935[4] and Random House was founded in 1927.[5] It has more than 300 publishing imprints. Along with Simon & Schuster, Hachette, HarperCollins and Macmillan Publishers, Penguin Random House is considered one of the 'Big Five' English language publishers.

On April 2, 2020, Bertelsmann announced the completion of its purchase of Penguin Random House, which had been announced in December 2019, by buying Pearson plc's 25% ownership of the company. With the purchase, Bertelsmann became the sole owner of Penguin Random House. Bertelsmann's German-language publishing group Verlagsgruppe Random House will be completely integrated into Penguin Random House, adding 45 imprints to the company, for a total of 365 imprints.[6]

As of 2021, Penguin Random House employed about 10,000 people globally and published 15,000 titles annually under its 250 divisions and imprints.[7] These titles include fiction and nonfiction for adults and children in both print and digital. Penguin Random House comprises Penguin and Random House in the United States, the United Kingdom, Canada, Australia, New Zealand, Portugal, and India; Penguin in Brazil, Asia and South Africa; Dorling Kindersley worldwide; and Random House's companies in Spain, Hispanic America, and Germany.[8] [9]

On November 25, 2020, The New York Times reported that Penguin Random House was planning to purchase Simon & Schuster from Paramount Global for $2.175 billion.[10] However, on November 2, 2021, the U.S. Department of Justice sued to stop the deal on antitrust grounds, a suit that eventually succeeded on October 31, 2022.[11] [12] The deal formally collapsed on November 22, 2022.[13]

History

Penguin Random House was formed on July 1, 2013 by Markus Dohle upon the completion of a £2.4 million transaction between Bertelsmann and Pearson to merge their respective trade publishing companies, Random House and Penguin Group. Bertelsmann and Pearson, the parent companies, initially owned 53% and 47%, respectively.[14] Jane Ciabattari of Library Journal has referred to this merger as the publishing industry's response to the increasing dominance of Amazon.com in the book market.[15] Dohle was named CEO of the new company, which had more than 10,000 employees worldwide with more than 250 imprints and publishing houses and a publishing list of more than 15,000 new titles a year. Penguin Random House relaunched Book Country, Penguin's online writing community, on July 29, 2013. On September 24, 2014, Random House Studio signed a first-look production deal with Universal Pictures, under which Random House would be the producer of films based on Penguin Random House books. The Universal subsidiary Focus Features has frequently collaborated with Random House Films.[16] Having previously created Puffin Rock animation, Richard Haines was chosen to head Penguin Random House Children's TV development strategy with the assistance of licensing, publishing, and TV development executive Emily Campan.[17]

In November 2015, Pearson announced it would rebrand to focus on its education division.[18] On July 11, 2017, Pearson sold 22% of its stake in the business to Bertelsmann, thereby retaining a 25% holding.[19] [20] On December 18, 2019, Bertelsmann agreed to acquire Pearson's 25% stake in Penguin Random House,[21] making it a wholly owned subsidiary of Bertelsmann. The sale was completed on April 2, 2020.[6] In June 2020, Penguin Random House became part of a group of publishers who sued the Internet Archive, arguing that its collection of e-books was denying authors and publishers revenue and accusing the library of "willful mass copyright infringement".[22]

On November 25, 2020, Penguin Random House agreed to purchase American publisher Simon & Schuster from ViacomCBS for $2.175 billion, with a formal regulatory approval process to follow the purchase agreement.[23] On November 2, 2021, the US Justice Department filed a civil antitrust lawsuit to block Penguin Random House's proposed acquisition of Simon & Schuster, alleging that the acquisition would create a publisher with too much influence over books and author payments.[24] In October 2022, the U.S. District Court for the District of Columbia ruled in favor of the Justice Department.[25] On November 21, 2022, Penguin Random House officially scrapped the deal. As a result, it was to pay a $200 million termination fee to the recently-rebranded Paramount Global.[26] Simon & Schuster would instead be sold to Kohlberg Kravis Roberts on October 30, 2023.[27]

In July 2024, it was announced that Penguin Random House would acquire comic book publisher Boom! Studios.[28]

Divisions and imprints

DK

See also: Dorling Kindersley.

DK (Dorling Kindersley) was founded in London in 1974 and is a reference publisher focusing on non-fiction for adults and children.

As of 2015, DK also has official publishing relationships with Angry Birds, Lego, Marvel, Star Wars, and Disney.[29]

Crown Publishing Group

See also: Crown Publishing Group.

Crown Publishing was founded in 1933 as the Outlet Book Company, a remainder house, and is now a publisher of fiction and narrative non-fiction.[30] In 2018, Crown was combined with the main Random House Publishing Group.[31]

Knopf Doubleday Publishing Group

Penguin Publishing Group

See also: Penguin Publishing Group.

Penguin Young Readers Group

Penguin Young Readers Group is a division devoted to books for young readers and young adults.

Random House Publishing Group

Random House Children's Books

Sourcebooks

Penguin Random House Digital Publishing Group

Penguin Random House International

Penguin Random House Publisher Services

Handling distribution and marketing for Shambhala Publications, National Geographic Books, Wizards of the Coast, Kodansha USA (including Vertical Inc.), New York Review Books, Titan Books, Other Press, North Atlantic Books, Blue Star Press, DC Comics, Seven Seas Entertainment, and Dark Horse Comics among others.

It also handles direct market distribution for Marvel Comics starting October 1, 2021,[52] direct market distribution for IDW Publishing starting June 1, 2022,[53] and direct market distribution for Dark Horse Comics starting June 1, 2023.[54]

Ebury Publishing

See also: Ebury Publishing.

Subsidiaries

Book Country

Book Country was a subsidiary online writing and publishing community.[55] Book Country was launched in April 2011 with a focus on romance, mystery, science fiction, fantasy. On July 29, 2013, Book Country relaunched with online writing workshops in more than 60 literary categories, including literary fiction, memoir, and women's fiction.[56] As of September 2013, the site had more than 10,000 members.[57] As of November 2020, the site is no longer operational.

Further reading

Notes and References

  1. Web site: PRH Had a Record Year in 2021. Jim . Milliot. Publishers Weekly. March 31, 2022.
  2. News: Penguin, Random House Announce Merger. NPR. October 29, 2012. Calamur. Krishnadev. October 31, 2012.
  3. News: Pearson, Bertelsmann Confirm Publishing Tie-Up. October 31, 2012. NPR. October 29, 2012. https://web.archive.org/web/20121031145656/https://www.npr.org/templates/story/story.php?storyId=163848704. October 31, 2012.
  4. Web site: jaaronson . 2021-06-02 . Welcome to Penguin: We Are What You Read . 2023-06-09 . Penguin Books . en-US.
  5. Web site: Company history Penguin Random House . 2023-06-09 . en-US.
  6. Web site: Maher . John . Bertelsmann Now Owns 100% of Penguin Random House . . April 2, 2020.
  7. News: Sweney . Mark . UK watchdog investigates Penguin owner's Simon & Schuster takeover . March 22, 2021 . November 24, 2021 . The Guardian.
  8. Web site: Welcome to Penguin Random House . PenguinRandomhouse.com . April 1, 2015 . July 5, 2020.
  9. News: CEO Markus Dohle Announces Penguin Random House Global Leadership Team. January 22, 2016. Penguin Random House. July 1, 2013.
  10. News: Penguin Random House to Buy Simon & Schuster. Alexandra. Alter. Edmund. Lee. The New York Times. November 25, 2020. November 30, 2020.
  11. Web site: Brian Stelter. Justice Department sues to stop Penguin Random House's purchase of Simon & Schuster. November 2, 2021. November 2, 2021. CNN.
  12. News: Alter . Alexandra . Harris . Elizabeth A. . October 31, 2022 . Judge Blocks a Merger of Big Publishers . en-US . The New York Times . October 31, 2022 . 0362-4331.
  13. News: Harris . Elizabeth A. . Alter . Alexandra . Mullin . Benjamin . 2022-11-21 . A Huge Merger's Collapse Breaks a Pattern of Consolidation in Publishing . en-US . The New York Times . 2022-12-29 . 0362-4331.
  14. News: Penguin and Random House complete merger. https://ghostarchive.org/archive/20220112/https://www.telegraph.co.uk/finance/newsbysector/mediatechnologyandtelecoms/media/10152247/Penguin-and-Random-House-complete-merger.html . January 12, 2022 . subscription . live . The Telegraph. February 9, 2017.
  15. Ciabattari . Jane . 2013 . Now There Are 5 . . 138 . 14 . 26–29 . Media Source Inc..
  16. News: Gerard. Jeremy. Universal, Penguin Random House in 2-year First-look Pact. February 8, 2016. Deadline Hollywood. September 24, 2014.
  17. Web site: Whittock . Jesse . Penguin Random House makes TV play . TBI Magazine . Informa Telecoms & Media . November 30, 2015 . February 8, 2016.
  18. Web site: Pearson rebrand to reflect 100% focus on education. January 7, 2016. Katherine. Cowdrey. The Bookseller. March 13, 2021.
  19. News: Pearson sells 22% stake in Penguin Random House. July 12, 2017. BBC News. July 11, 2017.
  20. News: Pearson sells slice of Penguin for $1bn. Sweney. Mark. July 11, 2017. The Guardian. September 13, 2017. 0261-3077.
  21. Spahr . Wolfgang . BMG Parent Bertelsmann to Acquire Full Stake in Penguin Random House . . December 18, 2019.
  22. Web site: Publishers Sue Internet Archive Over Free E-Books. June 1, 2020. March 13, 2022. The New York Times. Elizabeth A.. Harris.
  23. Web site: ViacomCBS Sells Simon & Schuster to Penguin Random House for $2 billion. CNBC. Whitten. Sarah. November 25, 2020. November 28, 2020.
  24. News: Kendall. Brent. Trachtenburg. Jeffrey A.. Justice Department Sues to Block Penguin Random House's Acquisition of Simon & Schuster. November 2, 2021. The Wall Street Journal. November 2, 2021.
  25. Web site: 2024-06-22. Office of Public Affairs - Justice Department Obtains Permanent Injunction Blocking Penguin Random House’s Proposed Acquisition of Simon & Schuster - United States Department of Justice. 2022-10-31. www.justice.gov.
  26. News: Penguin scraps $2.2bn deal to buy rival publisher . November 22, 2022 . BBC News . November 22, 2022.
  27. Web site: 2023-08-07 . Simon & Schuster purchased by private equity firm KKR for $1.62 billion . 2024-07-10 . AP News . en.
  28. Web site: Gajewski . Ryan . 2024-07-10 . Penguin Random House to Acquire Boom! Studios . 2024-07-10 . The Hollywood Reporter . en-US.
  29. Web site: About DK. DK Publishing. April 8, 2016.
  30. News: Nat Wartels, 88, the Chairman Of the Crown Publishing Empire. McDowell. Edwin. February 8, 1990. The New York Times. 0362-4331. April 4, 2016.
  31. Web site: Milliot . Jim . Centrello Details Crown Reorg . PublishersWeekly.com . August 2, 2022 . en.
  32. Web site: The Crown Publishing Group. The Crown Publishing Group. April 4, 2016.
  33. News: Pulitzer Prizes – Alfred A. Knopf – Books. Rich. Motoko. April 18, 2007. The New York Times. September 13, 2017. 0362-4331.
  34. Web site: Imprints Knopf Doubleday. Knopf Doubleday. April 3, 2016.
  35. Web site: Random House – Bertelsmann AG . Bertelsmann . https://web.archive.org/web/20130603164501/http://bertelsmann.de/Bereiche/Random-House.html . June 3, 2013 . August 13, 2012 . de . dead .
  36. Web site: Imprints Penguin Random House. PenguinRandomhouse.com. April 9, 2016.
  37. Web site: Brown . Lauren . Penguin Random House unveils new pop-comics imprint to publish manga and more . . June 28, 2023 . June 28, 2023.
  38. Web site: Grobar . Matt . April 7, 2022 . Sugar23 & Random House Partner To Launch Co-Branded Publishing Imprint Sugar23 Books . April 18, 2022 . Deadline . en-US.
  39. Web site: Our Imprints . Random House . April 7, 2016.
  40. News: Williams . John . Chris Jackson to Lead One World Imprint at Random House . 21 Apr 2024 . The New York Times . Arts Beat . April 11, 2016.
  41. Reid . Calvin . Chris Jackson to Relaunch One World Imprint . 21 Apr 2024 . Publishers Weekly . April 11, 2016.
  42. Web site: Nawotka . Ed . PRH Acquires U.K.'s Little Tiger Group . PublishersWeekly.com . March 27, 2019 . July 5, 2020.
  43. News: Kantor . Emma . New Venture: Random House Graphic . August 18, 2021 . . October 10, 2019 . en.
  44. Web site: Random House Children's Books. Random House. December 27, 2020.
  45. Web site: Sourcebooks Launches Three Children's Imprints. Sourcebooks. 2020-06-06.
  46. Milliot. Jim. March 3, 2023. Dominique Raccah Does It Her Way. Publishers Weekly. March 4, 2023.
  47. Book: Guía de editores de España: 1990–1991. Editors' guide Spain: 1990–1991 . 1990. March 25, 2022 . 978-84-86141-08-0. es. Federación de Gremios de Editores de España.
  48. News: Santillana vende Ediciones Generales a Penguin Random House para centrarse en el área educativa . March 19, 2014 . November 7, 2016 . . es . Madrid . PRISA.
  49. Web site: November 29, 2019. Penguin Random House India acquires Duckbill Books children's publishing division. Business Insider.
  50. Web site: Penguin Random House India acquires the book publishing assets of Duckbill . penguin.co.in . November 29, 2019.
  51. Web site: Offices . Penguin Random House.
  52. Web site: Schedeen . Jesse . March 25, 2021 . Marvel Comics Shifts to New Distributor in Industry-Rattling Move . March 25, 2021 . . en.
  53. Web site: IDW Publishing Expands Partnership with Penguin Random House Publisher Services in an Exclusive Multi-Year Agreement to Distribute IDW Comics Worldwide . IDW Publishing . September 17, 2021 . March 13, 2022.
  54. Web site: Dark Horse expands partnership with Penguin Random House Publisher Services . September 21, 2022. 2023-06-04 . www.darkhorse.com . en.
  55. Web site: https://web.archive.org/web/20130630014318/http://www.bookcountry.com/AboutUs/Penguin.aspx . June 30, 2013. What's the Penguin About?. Bookcountry.com.
  56. Web site: Book Country: Developing Authors And Audiences. Charman-Anderson. Suw. July 29, 2013. Forbes.
  57. Web site: Workshopping Community Book Country Hits Membership Milestone. Digitalbookworld.com. September 17, 2013 . https://web.archive.org/web/20131005175618/http://www.digitalbookworld.com/2013/workshopping-community-book-country-hits-membership-milestone/ . October 5, 2013.

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