One hurdle down. Several more to go with the EU, Canadian Competition Bureau and various other antitrust authorities around the world still needing to weigh in on this. Penguin's settlement with the Justice Department was a move to smooth the way for this merger, and it looks like that move worked. Note that Random House, not included in the price-fixing case, will be bound by the terms of the Penguin settlement. Who owns how much of what? For those who are keeping score, according to the announcement: Following completion, Bertelsmann will own 53% and Pearson 47% of Penguin Random House. It will encompass...

Bertelsmann, the corporate parent of Random House, has purchased a 100 percent stake in Random House Mondadori. Random House created the publishing house for Spain and Latin America in 2001, splitting the shares 50/50 with the Spanish publisher. Spanish antitrust authorities still need to approve the acquisition, and the name will be changed “in the near future.” The move came one week after Random House decided to merge with Penguin next year, creating Penguin Random House. Read Full Article ... Source: GalleyCat * * * Follow us @TeleRead  Join us on Facebook...

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