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Bertelsmann and Pearson announced Monday that they were merging their book publishing arms, Random House and Penguin. The new firm will be called Penguin Random House.
October 29, 2012 German media company Bertelsmann will own 53 percent of the new firm, Penguin Random House; Pearson, which owns Penguin, will control the rest. The merger, subject to regulatory approval, is scheduled to be completed in the second half of 2013.
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